'An Analysis Of Perspective Is Everything'
Everyone knows this one: do you see the glass as half empty or half full? And the idea is that should you see the glass as half empty, then you're a pessimist, and if you see it as half full, you're an optimist; and that is the very basis of economics. Nothing has changed, nothing is different between the amount of water, but the reaction to it depends entirely on the beliefs of the viewer. If you were, however, to give a pessimist a glass half-empty and a pitcher of water, and an optimist a full glass of water, then generally the pessimist would be happier despite both receiving the same amount, because the pessimist feels that they have control of the situation.
Ideas such as this are explored in the Ted Talk speech “perspective is everything” …show more content…
“What would happen if you could actually pay twice as much money to cross the (toll) bridge, but go through a lane that's an express lane? People hate it. Because they think you're deliberately creating delays at the bridge in order to maximize your revenue, and "Why on earth should I pay to subsidize your incompetence?" On the other hand, change the frame slightly and create charitable yield management, so the extra money you get goes not to the bridge company, it goes to charity, and the mental willingness to pay completely changes.”
He then goes on to describe the significance of money; not its monetary value, but rather its sentimental value. To better explain this, I’ll use a situation everyone has faced; you’re feeling super motivated and you’re planning on cleaning your room, and taking out the garbage and dusting and vacuuming, and you’re genuinely excited and a bit proud of yourself for taking
Ideas such as this are explored in the Ted Talk speech “perspective is everything” …show more content…
“What would happen if you could actually pay twice as much money to cross the (toll) bridge, but go through a lane that's an express lane? People hate it. Because they think you're deliberately creating delays at the bridge in order to maximize your revenue, and "Why on earth should I pay to subsidize your incompetence?" On the other hand, change the frame slightly and create charitable yield management, so the extra money you get goes not to the bridge company, it goes to charity, and the mental willingness to pay completely changes.”
He then goes on to describe the significance of money; not its monetary value, but rather its sentimental value. To better explain this, I’ll use a situation everyone has faced; you’re feeling super motivated and you’re planning on cleaning your room, and taking out the garbage and dusting and vacuuming, and you’re genuinely excited and a bit proud of yourself for taking