The Anchoring Effect of Buying Suits

The art of persuasion comes in many forms. We talk about the first of six lessons from Robert Cialdini's "Influence": the rule of reciprocation. Full show notes Things mentioned in this episode: Influence: The Psychology of Persuasion, by Robert Cialdini Robert Cialdini How People Manipulate You: The 6 Principles of Influence Indo Board Balance Board Original with Roller Man on Wire (2008), on Rotten Tomatoes The War of Art, by Steven Pressfield Steven Pressfield The War of Art (Ep. 161) Price Intelligently - Price Anchoring to Optimize Your Pricing Strategy J.C. Penney Suitsupply Room&Board Debt: The First 5,000 Years, by David Graeber David Graeber Alvin Ward Gouldner Lessons from The Personal MBA (Ep. 166) Hardcore History podcast Dan Carlin MoneyLab's "Email Page" Jeff Bezos Want more cool stuff? You can find all sorts of great tools at my Resources page. You can also get a free copy of my book, 10 Steps to Earning Awesome Grades (While Studying Less), by staying up to date with the College Info Geek newsletter. Timestamps: 0:03:55 - What is "Influence: The Psychology of Persuasion" about? 0:06:48 - The anchoring effect when comparing and contrasting things 0:19:39 - The importance of reciprocity in human society 0:22:58 - Scams, forced donations and other exploits 0:45:05 - How much it can cost you to feel obligated to return a favor 0:48:22 - Example of blackmail (extreme reciprocity) in House of Cards (SPOILERS) 0:50:45 - The three main obligations when it comes to reciprocity 0:55:13 - Whittling down from the most expensive options to cheaper ones 0:59:14 - Sensing the underlying principles of reciprocity 1:02:10 - The emotional impact of "actual" gifts in contrast to money 1:05:38 - Recap and conclusion If you enjoyed this episode, subscribe to the podcast on iTunes! It's easy, you'll get new episodes automatically, and it also helps the show gain exposure :) You can also leave a review! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.