Ariely on Gas

[Yamikaiba123]

Also. gas is considered a commodity since we need it to get to work on time, and so on. So people will not lower their use of their car unless it is to cut out on extracurricular rides.

[djbanizza]

When I saw the title I thought you were going to inhale some nitrous :)

[cypress1337]

This guy is so freaking cool, hehe. I wish i had his job.

[cypress1337]

Same with climate change / global warming..

[MP311281]

Neighbours continue paying the same price. Negative outcome in a social comparison would be a much stronger incentive to react to increasing gas prices.

[cinndave]

Gas demand isvery inelastic, and people don't really budget for it much. For those who always spend all their money and live paycheck to paycheck, a rise in gas price directly decreases their discretionary income that they can spend on other things they want, and that bothers them.

[virtuaoski]

This is an awesome insight!

[cypress1337]

@virtuaoski Ariely only has awesome insights :)

[Costoffplus]

@cypress1337 I thought he was going to talk about human gas