I can only speak for myself, but from what I read by The Suburbanist we have the same problem: opportunity cost. Unfortunately this is often overlooked (and is almost equally often the simple explanation for apparent irrational decision-making).

I guess some of these subjects would have been interesting to at least take a look at. But I spent 15 minutes trailing around, and after that got so bored that I gave up — simply because I had better things to do with my time.

Would it be a lot of work for you to inform us about your preferences? That would be up to you.

This is very much part of the proposition. Make the transaction cost too high, and people simply move on. Clicking or tapping the heart is easy, even its position towards the end of the story contributes to it. I am sure someone somewhere has worked out using A/B testing how many more recommendations you can expect if the button is located where it is, than if it is at the top or half way down. (Well maybe at the top you’d get recommendations from people who don’t actually read the story!)

But as Richard Thaler likes to say: if you want people to do something, make it easy.

My intention is for you guys to really appreciate the relationship between supply quality and consumer choice. It’s exceedingly difficult to appreciate the relationship. If it wasn’t, then we’d already be free to choose where our taxes go.

To be honest, you don’t need to convince me. I am entirely with you (even though I quibble with a lot of the detail).

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Accidental behavioural economist in search of wisdom. Uses insights from (behavioural) economics in organization development. On Twitter as @koenfucius

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