The relativity of values causes us to use money irrationally. I go to the supermarket to buy a $15 pen, and the clerk smiles and says, “You can buy this pen for $7 if you walk 5 minutes from here.” Then, most people walk five minutes and buy a $15 pen for $7. But if you want to buy a $1,000 jacket and the clerk smiles and says, “You can get a $992 jacket in five minutes from here,” most people simply buy the $1,000 jacket. Reasonably, walking for 5 minutes equals the effort, and the profit of $8 is the same. However, people might go to a store that sells pens cheaper, but not for the jacket, because the discount rate is too low. In other words, the relativity of comparing values makes us act irrationally. The pen’s discount rate is 55%, and the jacket’s is only 0.8%. Yet, the total amount is the same for all $8, and the effort to gain that profit is identical. Attitudes and misconceptions about consumption influence how we build wealth. - Joseph’s “just my thoughts”
Design ethics is an essential field of study. You may wonder if ethics play a role in design, but they are crucial, particularly in terms of addiction. Slot machines, for example, are four times more addictive than other gambling games. This heightened addiction is mainly due to the variable rewards these games provide. Some designers view this addiction as a means to increase profits. A classic example is a screen with an infinite scroll function, which can lead to excessive time consumption. This occurs because the game’s rewards are unpredictable, and some designers tie this addiction directly to revenue generation. Therefore, ethical considerations are vital across all domains. - Joseph’s “just my thoughts”