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Sendhil Mullainathan

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The scarcity trap captures this notion we see again and again in many domains. When people have very little, they undertake behaviors that maintain or reinforce their future disadvantage. If you have very little, you often behave in such a way so that you’ll have little in the future.

Sendhil Mullainathan

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Sendhil Mullainathan

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Maybe poverty is a special case of something else. That something else is ‘scarcity,’ and anyone who has the experience of ‘having very little’ experiences the same psychology.

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People go shopping, we spend on so many things, and we just don’t know. We don’t know the prices of things. But gasoline, even when you’re not buying, it’s staring you in the face. Psychologists call this ‘salience.’

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June 5, 2024

People go shopping, we spend on so many things, and we just don’t know. We don’t know the prices of things. But gasoline, even when you’re not buying, it’s staring you in the face. Psychologists call this ‘salience.’

Previous

June 5, 2024

Maybe poverty is a special case of something else. That something else is ‘scarcity,’ and anyone who has the experience of ‘having very little’ experiences the same psychology.

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