Tuesday, August 27, 2013
Lesson from Freakonomics
One thing I thought was interesting in Freakonomics is how the bagel man quit his initial job in an office room and took the risk of just selling bagels to companies all around as a full time job. He had no idea how much of a success he would have in this idea but was willing to give it a shot. In the end not only did he make more money than his original job but he learned a lot about the patterns of people who had paid for the bagels and the ones who didn't. He was able to test all sort of incentives in order to figure the question of why people were willing to pay or steal a bagel that was only one dollar. A lesson I learned from this story was that more one respects you they less of a chance they would steal from you. Also that it is tough to make the right choices when no one is watching you but it is surprising of the number of people that will still act appropriate or in this case pay for a bagel.
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