Re:Millions of Americans skipping payments as wave of defaul...
by refurb on Wednesday June 03, 2020 @08:55PM
(#23411065)
How is that even a controversial statement? It's a well known phenomenon in behavioral economics.
There was a story about how charging some nominal amount for a mosquito net led to more consistent usage and lower malarial rates, than if they just gave the net for free.
Why? Because the "price" of something is a signal as well. If it's free, who cares? If you paid something, well then it's yours and you should look after it.
There was a story about how charging some nominal amount for a mosquito net led to more consistent usage and lower malarial rates, than if they just gave the net for free.
Why? Because the "price" of something is a signal as well. If it's free, who cares? If you paid something, well then it's yours and you should look after it.