Professor Richard Thaler: Masters in Business (Audio)
Masters in Business
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The Salesman Attespecial Making Money Is Making Money
"What people have to think bout is, they're making money selling you that paulis right. And the salesman attespecial making money is making money," he says. "I worked part time in an electronic store, and they would make more money on the extended warranties than they would make on the so here's an example of mental accounting: Every time somebody offers me an extended warranty, i'm going to take that money and put it into a special savings account."
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