The Power of 'Free'

The chapter explores how the perception of 'free' can significantly influence decision-making processes, illustrated through an experiment involving children choosing between different-sized chocolate bars with a 'free' incentive. It delves into the psychological impact of the concept of 'free' on individuals, leading them to make decisions based on the perceived value rather than considering the actual cost. Additionally, it touches on the speaker's personal experiences, the lab's focus on financial decision making for lower middle-income populations, and interventions aimed at promoting healthier lifestyles, with a case study on a scale design to encourage positive behaviors around weight management and health.