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Dan Ariely

Dan Ariely Quotes

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Dan Ariely is an Israeli-American psychologist and behavioral economist known for his pioneering research in the field of behavioral economics. His work primarily focuses on the irrational aspects of human decision-making and how these irrationalities affect our economic behavior. Ariely's books, 'Predictably Irrational' and 'The Upside of Irrationality', have been widely popular and provide an accessible introduction to his research findings.

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Famous Dan Ariely Quotes

“In the U.S., I think there is an ideology of not telling kids what to do. Nobody to tell you who to marry, not tell you what job to pick. You're your own person. You have the freedom to choose, including the freedom to fail in magnificent ways. And I think that's the big difference. In other countries there is basically a social norm about saving that is passed from generation to generation. In the U.S. there isn't.”

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Author:Dan Ariely

“Who would you trust right now? Which bank would you trust? Which investment would you trust? Do you really want to put your money; do you want to suffer more of these losses that we just had? You know, these volatility that we see is just unexplainable by any rational standards. Nobody has any clue about how to explain this, and nobody wants to experience that. So, we hold more money back, we don't necessarily want to invest in the market and by default, people are saving more.”

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Author:Dan Ariely

“Money actually becomes even more difficult than other things because it's very hard to imagine what the benefits are to saving. So, imagine that you see a new bicycle, a new pair of shoes, or something today. You know exactly what you are giving up if you are not buying it, what are you gaining in the future if you are not getting it. So, you are giving up the bicycle today, what is it in the future? What will happen if you send another $1,000 to your retirement fund? What difference will it make? It is very, very hard to figure out.”

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Author:Dan Ariely

“With money we really fool ourselves. We are our biggest enemies with money and there are some things we can do about it. Automatic deductions are a wonderful thing. But ideally, you should wait until the end of the month, you can see how much extra money you had, and you should put that in your savings account. We don't do that too well, and if we did that, we would never save. So, what we do, is we take money out of our pocket into the saving account at the beginning of the month, take it outside of our control and as a consequence, we spend less and we save more.”

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Author:Dan Ariely

“Linking financial element to energy consumption I think has a huge role if you think about a display instrument that could teach us about what we are using, how much it costs us, how much it is saving, and therefore change our decisions.”

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Author:Dan Ariely

“Rainy day savings are incredibly important, because from time to time, bad things happen. And if you're not prepared for that, it's going to be really terrible.”

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Author:Dan Ariely

“What reminds you in your environment about saving? Nothing.”

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Author:Dan Ariely

“It was shocking to realize how many low-income Americans don't have savings accounts.”

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Author:Dan Ariely

“When you get a checking account, you should have a savings account, and the number for the savings account should be one off of your checking account.”

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Author:Dan Ariely

“When parents have college savings accounts for their kids, their kids show higher social and cognitive performance.”

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Author:Dan Ariely