Freakonomics Radio
579. Are You Caught in a Social Media Trap?
Mar 7, 2024
Leonardo Bursztyn, a University of Chicago economics professor, and Benjamin Handel from UC Berkeley dive into the fascinating world of social media traps. They discuss how social environments shape our choices, revealing why so many users wish social media didn’t exist yet feel compelled to stay. The conversation explores how peer influence drives users to avoid deactivating their accounts, drawing parallels between social media addiction and cigarette dependency. Ultimately, they examine the societal impacts of these platforms and question their inherent value in our lives.
42:16
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Quick takeaways
- Consumers might feel obliged to engage with products like luxury goods or social media, even if they don't truly desire them.
- Unmarried female students adjust career preferences based on observable choices, indicating societal and dating market influences on professional ambitions.
Deep dives
The Overlooked Cost of Consuming Products
Consumers may face significant costs even when choosing not to consume certain products, as discussed in a study by Ben Handel and collaborators. The paper explores the concept of 'product market traps,' where individuals may feel compelled to purchase products they don't actually want or need. For example, the research questions whether products like luxury goods or social media create a sense of obligation to buy, even if individuals wish these products didn't exist.
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