Dan Ariely

at Duke University

Brilliant academic, engaging speaker and champion of creativity with behavioural research. Dan's involved in many businesses built from the ground up with its findings, such as Shapa [SHAY-pa], Qapital and Lemonade.

What Dan Ariely [Ah-REE-eh-lee] has found out so far...

The study

Setup

Nuggademic people academic

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Results

np_read_2490885_000000

What Dan Ariely [Ah-REE-eh-lee] has found out so far...

• We overvalue things that are free (2007)
His famous chocolate experiment revealed that, due to our Zero Price Bias, we place far greater value on things that are free over something very cheap.

• We value things more that we’ve helped make (2012)
Dan discovered the famous IKEA Effect, which tells us that when we’ve invested energy into helping make something, we feel a stronger attachment to it and will therefore pay more for it over something very similar that we didn’t make.

• We can design for more ethical behavior (2016)
As Chief Behavioral Officer at Lemonade, an insurance firm, Dan combined our Commitment Bias with his findings on dishonesty, using moral reminders and honesty pledges to increase the number of genuine insurance claims.

“People are willing to work free, and they are willing to work for a reasonable wage; but offer them just a small payment and they will walk away.”

• Even the lazy can reach life goals (2015)
Dan helped to develop Qapital, an app that lets you connect your bank account to reach your financial goals. Make a purchase for $5.70, Qapital charges you $6 and saves the difference for you. A brilliant use of Defaults to avoid the Loss Aversion of intentionally putting money away in a savings pot.

• Tiny commitments can have a big effect (2018)
Found that having people make a pledge to repay a loan within a smaller window of time led them to be more likely to pay off their debt. These results suggest that designing Time-scarce commitments like this are a scalable, cost-effective intervention to help improve people’s lives.

Key Takeaways

Dan Ariely

at Duke University

Brilliant academic, engaging speaker and champion of creativity with behavioural research. Dan's involved in many businesses built from the ground up with its findings, such as Shapa [SHAY-pa], Qapital and Lemonade.

What Dan Ariely [Ah-REE-eh-lee] has found out so far...

The study

Setup

Nuggademic people academic

Results

Key Takeaways

Dan Ariely

at Duke University

Brilliant academic, engaging speaker and champion of creativity with behavioural research. Dan's involved in many businesses built from the ground up with its findings, such as Shapa [SHAY-pa], Qapital and Lemonade.

The study

Setup

Nuggademic people academic

Results

np_read_2490885_000000

In detail

• We overvalue things that are free (2007)
His famous chocolate experiment revealed that, due to our Zero Price Bias, we place far greater value on things that are free over something very cheap.

• We value things more that we’ve helped make (2012)
Dan discovered the famous IKEA Effect, which tells us that when we’ve invested energy into helping make something, we feel a stronger attachment to it and will therefore pay more for it over something very similar that we didn’t make.

• We can design for more ethical behavior (2016)
As Chief Behavioral Officer at Lemonade, an insurance firm, Dan combined our Commitment Bias with his findings on dishonesty, using moral reminders and honesty pledges to increase the number of genuine insurance claims.

“People are willing to work free, and they are willing to work for a reasonable wage; but offer them just a small payment and they will walk away.”

• Even the lazy can reach life goals (2015)
Dan helped to develop Qapital, an app that lets you connect your bank account to reach your financial goals. Make a purchase for $5.70, Qapital charges you $6 and saves the difference for you. A brilliant use of Defaults to avoid the Loss Aversion of intentionally putting money away in a savings pot.

• Tiny commitments can have a big effect (2018)
Found that having people make a pledge to repay a loan within a smaller window of time led them to be more likely to pay off their debt. These results suggest that designing Time-scarce commitments like this are a scalable, cost-effective intervention to help improve people’s lives.

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Dan Ariely

is included in Box One of our physical workshop tool.
is included in Box Two of our physical workshop tool.
Box Two