“Money is incredible, but some of the things that make it incredible make it difficult to use.”

— Dan Ariely

Today I’m excited to welcome Dan Ariely to The Psychology Podcast. Dan is a professor of psychology and behavioral economics at Duke University and a founding member of the Center for Advanced Hindsight. Through his research and his (often unorthodox) experiments, he questions the forces that influence human behavior and the irrational ways in which we often all behave. He is author of the bestsellers Predictably Irrational, The Upside of Irrationality, and several others, and his latest book is Dollars and Sense: How We Misthink Money and How to Spend Smarter.

In our conversation we cover:

Why he decided to dedicate a whole book to money
How the “pain of paying” affects how much we spend
Why we tend to undervalue saving
How fairness impacts our perception of value
Why bad spending becomes a habit

In this episode you’ll learn how to think about money and spend it in smarter ways. It was great getting to chat with Dan, and interesting to see the overlap between his research in Behavioral Economics and the research coming out of Positive Psychology. Enjoy!

Links:

Dollars and Sense: How We Misthink Money and How to Spend Smarter

https://www.amazon.com/Dollars-Sense-Misthink-Money-Smarter/dp/006265120X [Book]

Follow Dan on Twitter

https://twitter.com/danariely

For more resources and information on Dan and his research

http://danariely.com/

Support this podcast: https://anchor.fm/the-psychology-podcast/support

See omnystudio.com/listener for privacy information.

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