• I agree. Can't remember the vid now. I guess I was arguing that losing a \$20 ticket/actual money & then buying a new ticket is not the same as buying a \$40 ticket, because of the expected cumulative effect of these decisions in the long run, and their independence: losing a ticket/money is (hopefully) a less common situation than buying a ticket, and so in the long run choosing to buy tickets﻿ for \$40 would effect your savings more than choosing to buy one for \$20 despite of recently losing \$20.

• You're adding variables. If someone could choose to not lose their ticket or money in the first place, I'm sure they would pick that every time. I think there's a disconnect between what you're thinking and what he's saying. Maybe listen to it again? It's﻿ not irrational to think of a ticket that you've paid \$20 for as having the same value as a \$20 bill. And when you think of it like that, the ticket becomes another \$20. Losing the ticket is no different than losing money...

• But that's a different situation altogether. If you lost your ticket or \$20 you can expect it to be a rare event (and to the extent you give these 2 scenarios a different value, that's indeed irrational). But if you get into the habit of paying \$40 for a ticket, you may exceed your budget﻿ in the long run

• That's not really the scenario... Basically he saying this. you bought a ticket for \$20. if you lose the ticket it is really﻿ the same thing as losing \$20. People said they would not buy another ticket if they had lost the TICKET, but they would buy a ticket if they had lost their MONEY... Ultimately the money and the ticket are the same thing. But our preception is that the ticket has more value because we already paid for it.

• A logical flaw: In the movie ticket example, if you lost \$20, you are choosing between having your remaining \$20 or watching the movie (you don't get to﻿ choose not to have the money lost). If the price increases, your decision is different: having \$40 vs. watching the movie.

• The truth is these tricks are how you convince people to de-regulate markets and make themselves poor.

A.G.﻿

• AMAZING TALK! or why ecological problems are still not seriously considered﻿ by politicians...

• came here because of the video's acceptable quality (320p)... it's﻿ horrible at TED

• Only 3 views!!! how come? a great﻿ video that is both informative and challenging