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Quote by Dan Ariely

“We can think about how we reduce the pain in paying. So, for example, credit cards are wonderful mechanisms to reduce the pain of paying. If you go to a restaurant and you are paying cash, you would feel much worse than if you were paying with credit card. Why? You know the price, there's no surprise, but if you're paying cash, you feel a bit more guilt.”

Quote by Dan Ariely

Author

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. more

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“If you want to spend more money in restaurants, use credit cards more than cash. If you want to spend less, use cash more than credit cards. But in general, we can think about how to use the pain of paying and how much of it do we want. And I think we have like a range. Credit cards have very little pain of paying, debit cards have a little bit more because you feel like today, at least it is coming out of your checking account, and cash has much more.”

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