DAN ARIELY

Updates

Reader Response: Day 15

June 3, 2015 BY danariely

Like this reviewer, you may discover some untapped talents after reading Irrationally Yours.

Irrationally Yours,

Dan Ariely

Ask Ariely: On Justifying Gadgets, Job Satisfaction, and Just Flowers

April 25, 2015 BY danariely

Here’s my Q&A column from the WSJ this week  and if you have any questions for me, you can tweet them to @danariely with the hashtag #askariely, post a comment on my Ask Ariely Facebook page, or email them to AskAriely@wsj.com.

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Dear Dan,

I’m thinking about buying the new Apple Watch, but I’m sure if it is worth it. Any advice?

—Greg

I’m not sure I can be truly objective here: I just might want one, and if I suggest that you shouldn’t get one, how could I justify buying one for myself later?

So without wanting to limit my own future purchases, let’s more generally consider the question of how we figure out whether luxury items are worth the cost.

Let’s take a very different product, black pearls, as our example. When black pearls were first introduced to the market, nobody wanted them [for more about this story, see Predictably Irrational]. But then the famous jeweler Harry Winston placed black pearls in his display windows alongside his rubies, sapphires and diamonds. He set the price of black pearls high, and they have been very valuable ever since. An important lesson from this story is that people tend to make relative judgments and to use only objects that are easy to compare as the standard for appraisal (like those rubies, sapphires and diamonds).

This implies that when you’re examining future purchases, you should ensure that you don’t just compare the object of your desire to similar objects but to other, very different things that you might also want. As you expand your scope of comparison, you should be able to make more reasonable decisions.

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Dear Dan,

I’m an air-traffic controller at a large airport. I don’t work in the tower but in a remote radar facility about 30 miles away, handling traffic within 50 miles of the airport. As a radar controller, everything is completely abstract. Would being able to actually see the planes I am guiding take off and land generate greater job satisfaction than just seeing targets on a screen?

—Zack

Probably. In many different domains (including moral judgment and empathy), when we present information in increasingly abstract ways, emotions get suppressed, and we care less. So if you plan to stay in this type of job for a while, moving to a tower might well boost your motivation.

But even if you stay put, other changes might increase the perceived meaning of your labor. What if your screen showed how many passengers were on each plane? What if, at landing time, you were told that they were all healthy? What if you were shown some pictures of the people waiting for them at the airport? With such changes, the information you have about the passengers in your care would be more than just a dot, and both your caring and your motivation should increase.

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Dear Dan,

I sometimes invite friends for dinner, and they usually ask me which dish they can bring. Actually, I really don’t want them to bring anything: It doesn’t help me out, and it might not fit with the meal I’ve got planned. But I’m not sure how I can politely reject their nice offer.

—Sigrid

I’ve had the same problem. At one point, I Googled “most difficult recipes” and picked the one I liked most. The next person who asked me what dish they could make got that recipe. I’ve been using this approach ever since, while also telling people that it truly is fine not to bring a dish. They inevitably end up bringing wine or flowers.

 

See the original article in the Wall Street Journal here.

 

By the way! “Irrationally Yours,” a book based on this column, will be published May 18 by HarperCollins (which, like The Wall Street Journal, is owned by News Corp).

Ask Ariely: On Reasonable Requests, Trash Talk, and Paper Piles

February 28, 2015 BY danariely

Here’s my Q&A column from the WSJ this week  and if you have any questions for me, you can tweet them to @danariely with the hashtag #askariely, post a comment on my Ask Ariely Facebook page, or email them to AskAriely@wsj.com.

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Dear Dan,

I fly by myself every week for work. I always fly coach and try to book my trips months in advance so I can get an aisle seat closer to the front of the plane. With fuller flights nowadays, I am frequently asked to move to accommodate a family or a couple who want to sit next to each other. I usually say yes and end up in a middle seat at the rear of the plane, which I hate. On the few occasions I have declined to move, the cabin crew has treated me like the enemy for the entire flight. How do I handle such situations?

—Kevin

Many years ago, Harvard psychology professor Ellen Langer carried out one of my all-time favorite studies. She asked her research assistants to look for lines for photocopiers, approach someone waiting to make copies and say, “Excuse me, can I get in line in front of you?” Unsurprisingly, this request was usually refused. Prof. Langer then had her research assistants change their phrasing and instead ask, “Excuse me, can I get in line in front of you—I need to make a photocopy” With this new version, they were frequently allowed to cut in. Obviously, the second phrase held no new information—why would anyone join this line if not to make a photocopy? But the longer phrasing had the structure of a reason-based-request: Excuse me, may I do X, I need Y. Prof. Langer showed that because people often don’t pay attention to what we say, it is sometimes enough to say something that sounds reasonable—and people will often agree.

So what can you say to the flight crew? It doesn’t really matter; it just needs to sound like a reason.

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Dear Dan,

The other day, I saw someone throw out garbage from her car. Other than pick up after her, should I have said something? If so, what? I was concerned about starting a confrontation that could have turned ugly.

—Blaine

You should have certainly said something—perhaps something like, “Excuse me—I’m new in town, and I’m trying to figure out the local customs. Is throwing out trash from the car window something that is common here?”

You should have spoken up not only because it might make her think twice in the future but also for you. At some point, you will inevitably encounter bigger injustices and even more inappropriate behavior. How can you expect to stand firm in these large cases if something as simple as a comment about trash left you too fearful to speak up? Think about such small cases of confrontation as training wheels that will help move you toward becoming the person you want to be—and start practicing.

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Dear Dan,

I have this pile of papers on my desk. It is growing by the day, and the clutter is driving me crazy. At the same time, I don’t feel like I can handle my regular workload, so I keep postponing clearing up the pile—and it keeps getting larger and more daunting. Any advice?

—Marc

Sometimes, we need to be forced to make a decision. My advice: spill a cup of coffee on your pile of papers. A few weeks ago, I was grappling with a similar problem, and one morning, while on a video conference call, I reached out to pick up my coffee and knocked it onto the pile of papers. I then had to look at each page and decide whether it was worth cleaning and drying. Most of them were useless.

See the original article in the Wall Street Journal here.

Ask Ariely: On Putting off Procrastination, Selling Sherlock, and Feeling the DICE

January 31, 2015 BY danariely

Here’s my Q&A column from the WSJ this week  and if you have any questions for me, you can tweet them to @danariely with the hashtag #askariely, post a comment on my Ask Ariely Facebook page, or email them to AskAriely@wsj.com.

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I love my job, and I want to be successful and get promoted—but I seem to be my own worst enemy. I procrastinate a lot, and I don’t know how to stop. Any advice?
—Theo
 
You aren’t alone. Think of procrastination as just one more example of how we fail to do things that are in our long-term interests. Much of life is about fighting such temptations. 
 
Perhaps the best tool we have to fight procrastination is to set rules for ourselves. As William O’Donohue and Kyle Ferguson note in their book “The Psychology of B.F. Skinner,” the famous psychologist had a rule of waking up at 5 a.m. each day and not doing anything else until he had written for two hours. Facebook and email weren’t around to distract people back then, but plenty of other temptations were—and Skinner stuck to his commitment.
 
Such clear rules are useful because they leave us in no doubt about whether we are following them or not. This makes us feel bad when we violate them. So pick some rules, make them clear and strict, and for good measure, ask friends, family and colleagues to hold you to them.
 
P.S. Skinner was an amazing scientist, a master at designing his own life and controlling his environment. But I’m not sure he would have had the will power to resist “Candy Crush.”

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Why do people tend to like new versions of old things? In other words, how many versions of “Sherlock Holmes” will be made? Why do different countries make their own versions of TV shows that have already been hits elsewhere? Money can’t be the only reason. Am I the only one wondering, “Can’t they come up with something new?”
—Patricia
 
I’m willing to bet that “Sherlock Holmes” will be with us for as long as humanity continues to exist. The explanation lies in what psychologists call the “mere-exposure effect”: As something becomes more familiar to us through repetition, our brain starts to process that information more efficiently—and we mistake this faster processing for liking something.
 
In one of the first experiments to demonstrate the mere-exposure effect, a few research assistants were asked to sit in a large university class and say nothing for the whole semester. At the term’s end, the students in the class were asked how attractive they found the research assistants who had been sitting in the class, as well as new research assistants whom they had never met. The students, on average, considered the more familiar research assistants to be more attractive. 
 
To go back to “Sherlock”: My prediction is that as we see more of the legendary sleuth, we will like him more and demand more of the same—maybe with small variations, such as the clearly Holmes-inspired, mystery-solving doctor on “House.”

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I work for my company’s digital-strategy team, and for some reason, management doesn’t realize how important our work is to the organization’s future. As a consequence, our group is facing budget cuts, and no one really listens to us. What can we do to help management understand how vital we are to the company?
—Katz
 
Few improvements have ever resulted from making people understand anything. Try instead to make people feel.
 
I would suggest changing your department’s name from the “digital-strategy team” to the “digital innovation center for excellence”—or DICE. With all those buzzwords and a catchy acronym, who could cut your funding without feeling they’re harming the company?

See the original article in the Wall Street Journal here.

Ask Ariely: On Erasing Email and Placebo Performance

November 22, 2014 BY danariely

Here’s my Q&A column from the WSJ this week  and if you have any questions for me, you can tweet them to @danariely with the hashtag #askariely, post a comment on my Ask Ariely Facebook page, or email them to AskAriely@wsj.com.

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Dear Dan,

Recently, the German auto maker Daimler gave employees the option of automatically deleting all emails that arrive while they’re on vacation. Senders get a note suggesting that they resend their email later or write to other colleagues who are still in the office. This way, employees don’t have to face overflowing inboxes when they return. Is this a good idea?

—Kathleen

Not having to worry about email while you’re on vacation sounds wonderful, and this policy will probably boost employees’ well-being—though, of course, some will still wonder what they might have missed.

That said, the Daimler approach seems pretty extreme, and it deals with the symptoms rather than the root problem. In my experience, email stresses people out constantly, not just during vacations. We get too much email every day of the year; we spend too much time responding to it and worrying about it. Email correspondence in many corporations is so out of hand that it leaves almost no time for any actual work.

If the bosses at Daimler really care about their employees’ welfare, why not tackle the inefficiencies of this communication channel—and work to reduce their overall email load? How about announcing that no email is allowed between 9 and 11 a.m. and again between 1 and 3 p.m.? Or what if they limited people to just 10 emails a day? (Does anyone really have more than 10 important things to say in a day?)

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Dear Dan,

I’ve read a lot about the placebo effect. Does that mean it won’t work on me?

—Marco

It turns out that placebos operate to some degree outside of our awareness—which means that even when we know a particular medication is a placebo, we can still benefit from it. So don’t worry about knowing too much. Just take two placebos and call me in the morning.

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See the original article in the Wall Street Journal here.

Ask Ariely: On Buying Beer, Realizing Wrong, and Productive Periods

October 25, 2014 BY danariely

Here’s my Q&A column from the WSJ this week  and if you have any questions for me, you can tweet them to @danariely with the hashtag #askariely, post a comment on my Ask Ariely Facebook page, or email them to AskAriely@wsj.com.

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Dear Dan,

I’m about to buy a new laptop—definitely a larger than usual purchase for me. I’ve found that when the base item is expensive, I’m much more likely to indulge in complementary ones, such as a new laptop case or software that I don’t really need but would be fun to play with. Why is it that I think twice about buying good beer on a night out but have no problem spending another $60 on a computer mouse I don’t need?

— Andrew

Here’s another example to help think through your question. Imagine that you’re going to buy a new car for $30,000, and the salesperson tells you that you can get leather seats for $2,000 more. How expensive would those luxurious seats seem to you? And how likely would you be to go for the upgrade?

Now imagine that instead of going to buy a car, you’re buying a new chair for your home office, at a cost of $500—and the furniture store tells you that you can get the chair in leather for $2,000 more. How likely would you be to go for it?

Most people would feel much better about the car upgrade than the chair upgrade. That’s because we think about money in relative terms: Relative to $30,000, that $2,000 doesn’t look that bad, but the same amount feels outrageous relative to $500.

Of course, money isn’t relative, and we should think about it in absolute terms, but this isn’t the natural way we make financial decisions. All this doesn’t make your tendency to shop for items you don’t need after a large purchases any more rational—but it should remind you that it’s very human.

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Dear Dan,

My husband is incapable of admitting that he is wrong, and it’s driving me crazy. What can I do to get him to acknowledge it when he’s wrong?

— Lisa

I suspect that many of the times that you most want your husband to admit that he’s wrong occur in large and central debates—which could be a mistake on your part.

One of the main problems with admitting error is reputation. Your husband may think that if he admits once that he was wrong, it will indicate that he could be wrong in other cases as well. If this is the case, a better way to fight his denial of wrongness will be to try to get him to admit once to a trivial mistake, maybe even in front of other people—and then hope that with that first step out of the way, the path to admitting other blunders will be more open.

Or here’s a less ambitious approach: give up on having him admit error and focus on just having him say that he’s wrong. For many years, psychologists used to recommend that married couples engage in something called “active listening”—telling the other person that we feel their pain and asking them to describe their annoyance in vivid color and detail. But psychologists have figured out that active listening was actually not very good advice. As it turns out, simply saying “Yes dear” is a much better strategy for a happy marriage. If your husband believes in science, perhaps sharing this sage advice with him will convince him that, despite his difficulty admitting that he’s wrong, agreement is often the best approach.

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Dear Dan,

When are people most productive? In the morning? At night? Are different people more productive at different times of day?

— Jacob

No question about it: For all kinds of people, the most productive time is tomorrow.

See the original article in the Wall Street Journal here.

Ask Ariely: On Technology’s Painless Payment, Email Equilibrium, and TP Tribulations

September 27, 2014 BY danariely

Here’s my Q&A column from the WSJ this week  and if you have any questions for me, you can tweet them to @danariely with the hashtag #askariely, post a comment on my Ask Ariely Facebook page, or email them to AskAriely@wsj.com.

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Dear Dan,

Apple recently announced Apple Pay, which will allow iPhone and Apple Watch users to simply wave their gadgets to pay for purchases. How might this technology change our spending habits? Could Apple Pay and other such hassle-free payment mechanisms (such as Amazon’s “1-click ordering”) lead us to spend more—particularly on stuff we don’t need?

—Nikki

The essence of payment is opportunity cost. Every time we face a purchasing decision, we should ask ourselves if getting this one thing is worth giving up the ability to purchase something else, now or in the future.

Different ways of paying make us think differently about those opportunity costs. For example, if we have $20 in cash in our pockets, we will have a hard time not thinking about opportunity cost. If we consider buying a sandwich, we realize that we won’t have money for coffee; if we get a cab, we realize that we won’t have money for dinner. But when we use a credit card or gift certificate, our thinking about opportunity cost will be less natural and prevalent—which means we’re likely to spend more without fully thinking about the consequences.

This is why the general answer to your questions is both yes and no. As you suggest, electronic payment mechanisms can easily lead us to think less about opportunity cost and spend more recklessly. But this doesn’t have to be the case. Electronic payment could be designed in ways that get us to more fully understand our opportunity costs and make more reasonable decisions. Apple Pay and the like could be game-changers, helping us think about our spending much more rigorously than we ever could with cash.

So the questions are: Who is designing these electronic wallets, and for what purpose? Will they be designed to get us to spend more money—or to help us make better decisions? Right now, electronic payments seem to be going down the path of less thinking and more spending—but I hope that at some point, some of the payment companies will change their approach, adopt the perspective of their users and offer electronic payment methods that help us make better financial decisions.

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Dear Dan,

How can I tell people who email me that I simply don’t have the time to respond to everyone?

—Kat

There is a well-known finding that when you ask couples how much each of them contributes to their relationship, the total far exceeds 100%. That is because we see all the things that we do, small and large, but we fail to see all the things that our partner does. The same is true for the people you respond to. They probably see how busy they are, but they have a hard time understanding the demands on your time.

So why don’t you create an automated email response that lists all the demands on your time, including how little time you have for sleep, exercise and your social life? With this kind of information, I hope, the people you email will understand why you can’t help them.

And while you perfect this approach, make sure you also—nicely—make your significant other aware of all the things you’re doing for the household and the relationship.

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Dear Dan,

Do people use twice as much single-ply toilet paper as double-ply?

—Gary

When toothpaste makers started putting a larger hole in the tube’s cap, people started using more toothpaste. That is because we judge the amount of toothpaste we apply largely by the stretch it covers on the toothbrush, not by its thickness or total volume. I suspect that the same principle is at work with toilet paper, which would mean that we judge the amount of toilet paper by its length—and don’t sufficiently adjust our use to take the added thickness into account.

See the original article in the Wall Street Journal here.

My attempts to reduce email overload…

September 23, 2014 BY danariely

As some of you might know, in addition to the general problem we all have with email overload, my specific issues are exacerbated by my disability (mostly limitations to moving my hands and some pain). I am not pointing my disability out to complain, but I do think that sometimes disabilities can act as a magnifying glass, letting us focus with more intensity on a problem we all have.  And I think that email overload is one of these problems

One of the main reasons for email overload is that email has become the one gateway for many different types of communications. We get email that are quick questions from co-workers, communications with family members and friends, mass communications, things we need to act on now, things that just keep us informed, invitations, discussions, and of course a lot of things we are not interested in.

With these various types of communications flooding one place—our inbox—and often interrupting us throughout our workday, is it any wonder that we feel frustrated and unproductive? That we are developing a collective ADHD, and that people look forward to sitting in an uncomfortable chair for a long time during flights just because there is no internet and no source for distraction (of course more and more flights are losing this advantage).

While complaining about email one day over breakfast with Dominik Grolimund—we came up with one partial solution to this problem: Why not ask the people who write email to be a bit more explicit about the type of email that they are sending and use this classification to redirect the email at the client side?  This way email will will behave differently based on its purpose and origin.

We used me as a case study, Dominik created the system, and I started asking people to email me using http://shortwhale.com/danariely by linking to it on my website and using it in my email signature.

Using this system I inform people how I prefer to get my email, I provide links to my online schedule, and I answer some questions I am most often asked. Most importantly, this simple contact form asks those who write me to choose their request type from a menu, the timeframe they want a response by, and if they need a response at all. With this classification system on the front end, my own email makes more sense and is less distracting. In my email client (Apple Mail) I have filters that redirect the email based on these tags and their requested timeframe.  For example, urgent emails appear in red in my inbox, while email that require a response by the end of the week find their way into a folder with that name. This sorting procedure allows me to stop my workday only to deal with important and urgent requests, and keep the rest of the email for the evening, weekend, downtime, and flight delays.

What has been incredibly satisfying about using Shortwhale for a few months is that it improves my use of time and it helps me respond more effectively to more people. After using Shortwhale for a while it was interesting to discover that the number of emails that are tagged “no response necessary” is rather large, and on top of this, I have also learned that a lot of people are happy to wait a week or even a month for an answer. Another feature of Shortwhale is that it allows people to easily create multiple choices within the email, and I find that providing people with this opportunity helps them get right to the point and saves me time.

Underlying all of this is the idea that while we we call a lot of things email, there are, in fact, different types of email and they each serve different purposes. The different types of email have different levels of importance, and we need to figure out how to differentially interact with them if we don’t want to continuously stop everything to check our inbox.

It is true that as it stands now, Shortwhale puts more demands on the sender. However, I think that the gains on the receiver’s side, coupled with the ability to respond quickly more than compensate for this extra initial hassle.

And, if you are under heavy email load, I’d love to hear what you think about this. You can contact me on Shortwhale 🙂

Ask Ariely: On Staying in School, Balancing School with Family, and Two Things about Consultants

September 13, 2014 BY danariely

Here’s my Q&A column from the WSJ this week  and if you have any questions for me, you can tweet them to @danariely with the hashtag #askariely, post a comment on my Ask Ariely Facebook page, or email them to AskAriely@wsj.com.

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Dear Dan,

I am a senior in high school, and I really dislike doing homework. We get a lot of it, and it adds nothing to my education. Writing countless essays for English and doing numerous labs for biology isn’t making me smarter, let alone better in those subjects. Here’s my quandary: I know that doing homework is valuable because it assesses how hard I work in school, which is what universities fundamentally look for in applicants—but I feel that if I really want to educate myself, I should dedicate all my free time to gulping down many books on a wide range of subjects. Should I dedicate myself primarily to school and homework, or should I read as much as possible and absorb information primarily through books?

—David

I believe deeply in trying to find things at which we can excel. We can all read poetry, and many of us can probably write bad poetry. But to be really good, to be a poet, you need to devote a lot of time, read widely, work hard, study things from different angles and (ideally) learn from the best. This is what school should give you. Not every teacher and topic is going to be enthralling—but it is still worth it for the teachers and topics that are. My advice: Stay in school, and try to pick a subject or two that excite you enough that one day, you could become the world’s expert on them.

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Dear Dan,

What advice would you—as a university professor who has been teaching for a long time—give to students who are starting the new academic year?

—Peter

Simple: Keep on investing in your relationships with your family—your parents, of course, but particularly your grandparents.

Here’s why: Most professors discover that family members, particularly grandmothers, tend to pass away just before exams. Deciding to look into this question with academic rigor, Mike Adams, a professor of biology at Eastern Connecticut State University, collected years of data and concluded that grandmothers are 10 times more likely to die before a midterm and 19 times more likely to die before a final exam. Grandmothers of students who aren’t doing so well in class are at even higher risk, and the worst news is for students who are failing: Their grandmothers are 50 times as likely to die as the grandmothers of students who are passing.

The most straightforward explanation for these results? These students share their struggles with their grandmothers, and the poor old ladies prove unable to cope with the difficult news and expire. Based on this sound reasoning, from a public policy perspective, students—particularly indifferent ones—clearly shouldn’t mention the timing of their exams or their academic performance to any relatives. (A less likely interpretation of these results would be that the students are lying, but this is really hard to imagine.)

Kidding aside, social relationships truly are important for our health and happiness, in good times and bad—and fostering them is a wise goal for anyone at any stage of life.

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Dear Dan,

Why do consultants always break problems and solutions into three?

—Alice

When consultants give answers, they often try to strike a delicate balance between making the answer simple (on the one hand) and complete (on the other). I suspect that offering three things to consider strikes this sweet spot.

 

See the original article in the Wall Street Journal here.

Ask Ariely: On Mandatory Meetings, the Meaning of Free Will, and Macroeconomist Musings

August 30, 2014 BY danariely

Here’s my Q&A column from the WSJ this week  and if you have any questions for me, you can tweet them to @danariely with the hashtag #askariely, post a comment on my Ask Ariely Facebook page, or email them to AskAriely@wsj.com.

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Dear Dan,

I’ve been recently been promoted, and I now receive all sorts of requests for activities that have little to do with my love for my job. I recognize the importance of doing things for coworkers and the organization as a whole, but these other activities are taking up too much of my time and making it impossible for me to do my job. How can I set my priorities better? 

—Francesca

Ah yes—the perils of success. Promotions usually sound good, but once we get them, we realize that they come with extra demands and annoyances.  We also don’t seem to remember this lesson from promotion to promotion, so every time, we’re surprised when we discover those extra obligations.

Here’s how I suspect your new life looks. Every day, someone asks you to do something at some point far in the future—say a month from now.  Your calendar looks rather empty, and you say to yourself, “Well, since I’m free then, how can I say no?” But your future is not really going to be free; the details are just not yet on your calendar.  When the day arrives, you have to do all kinds of things that you wish weren’t on your plate. This is a very common problem, but three simple tools can help you better stick to your desired priorities.
First, every time a request comes in, ask yourself what you would do if it was for next week. If you would cancel other things to make time, go ahead and accept—but if you would not prioritize it higher than your other obligations, just say no.
A second tool: Imagine that you are fully booked that day, then try to gauge your emotional reaction to declining the request. If that prospect makes you feel sad, you should accept; if you feel happy at the prospect of getting out of it, turn it down.
Finally, learn one of the most beautiful words in English: “cancel-elation,” the glee you feel when something is canceled. To use this tool, imagine that you accepted this particular request, and it promptly got canceled. If you can taste the joy at the prospect of its being scrubbed, you have your answer.

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Dear Dan,

If people make decisions in a way that depends on their environment, does that mean that there is no free will?

—Matt

Yes and no.  Imagine that every day, I came to your office and covered your desk with doughnuts.  What are the odds that you will not weigh more by the end of the year?  Close to zero, I suspect. Once the environment is set, we are largely helpless, but we don’t have to be tempted by doughnuts every day: We can keep the doughnut peddlers out and otherwise design offices that help us make better decisions. That’s where free will resides—in our ability to design our environment for the better and make the world more compatible with our weaknesses.

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Dear Dan,

I’m thinking about investing in real estate. Have we passed the bottom of the market?
 
 —Drew

I’m happy to speculate about human nature, but predicting market trends should be left to those who divine the future from cards, coffee grounds and crystal balls (and to macroeconomists).  The only interesting thing I can tell you about real estate is that I once met one of the founders of Siri, Apple’s personal assistant, and he told me that he decided to work with Apple when Steve Jobs offered him the most valuable real estate in the world: the button at the bottom of the iPhone.

See the original article in the Wall Street Journal here.