We make comparisons in order to help us make decisions for the same reason we stereotype people: it’s a short cut for our brain when we don’t want to think too hard about something.Look at this example from Dan Ariely’s book Predictably Irrational: option, and ZERO chose the second option.
Her site, MSCheat Sheet.com, is dedicated to non-finance people because finance people are annoying.She has worked in the asset management industry for 13 years and has factual data to back up her claim. But you can still make an educated guess if the guy is working as a lawyer, doctor or startup anything in San Francisco… I was on a first date from an online dating site awhile back where *gasp* I let the girl pay for her own iced coffee, in part because I was annoyed that she was both late and had posted much older pictures.For those of you who’ve never been on these sites (or at least tell people you haven’t), there’s usually a place for guys to enter their income on their dating profile, it looks like this on match.com: So now we know this guy’s an English speaking liberal dancer who loves dogs, awesome. Whatever the case is, girls are left making of assumptions about a guy’s career since a lot of them don’t indicate how much money they make.Guys have it made because we know that nearly every girl puts her picture up (my guy friends have confirmed this for me).Reply Interesting thought but there’s more to it, I suspect. In everything, you have to take a chance, because we all have imperfect information to start off with.
Like in the Economist print example, a guy posting his income without a picture isn’t going to cut it. The key is trying to keep it short and learn as much as you can as quickly as you can.
Have you ever ordered dessert with out asking what all the choices are or looking at the dessert menu?
Maybe you want chocolate cake, but you always want to know what your other options are so you can compare the chocolate cake you think you want to a potentially better dessert?
It’s harder to make a decision unless we see it in context relative to another comparable option.
The marketers at The Economist slipped in the print only option (at 5) to make the print & web subscription look more appealing (also at 5).
They say if a girl put a picture up, it’s a huge red flag.