BS Shorts #19: 10.03.22
More rewards for referrals
Introducing BS Referrals & Rewards
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Mind over matter
Dan Ariely and Jeff Kreisler talk about the expectation effect in Small Change: Money Mishaps and How to Avoid Them. Positive expectations in advance of an experience can enhance it significantly. When I snap a wine on Vivino with a 4+ point rating before opening the bottle, well, you know, I’m pretty excited. The reverse is of course also true.
The Expectation Effect by David Robson reinforces the mind-body connection in our experiences. Revolutionary neuroscience research relates the brain as a ‘prediction machine’ meaning ‘conscious and unconscious expectations can powerfully influence our perceptions of reality.’ Moshe Bar, a neuroscientist at Bar-Ilan University in Israel who has led much of this work, says: ‘We see what we predict, rather than what’s out there.’ This suggests that there may be no such thing as a fully objective observer.
Expectation effects are strongest in medical placebos, the basis of which is the belief that one is taking a real cure rather than a sugar pill.
Counterintuitively, research now shows that ‘honest’ placebos, where the patient is aware of the sham, have positive physiological effects, on top of which the right language, tone and patient preparation used by doctors pre-medication/operation accelerates recovery. I.e. the brain can create expectations of recovery when aware of placebo and with the right verbal cues.
This made me think about the self-fulfilling prophecy of my own occasional negative thoughts. ‘Think positive’ and ‘travel hopefully’ are mildly helpful clichés to cure a noisy mind, but an awareness that one can train the brain to neutralise anxiety, recognising that my emotions and the associated expectations are biasing my perception, gives me pause for thought.
I’ve been unwell this week, struggling to fight off a succession of bugs. The viruses are quite genuine but expectation effects can influence our susceptibility to illness, and so, like with all things, they challenge us to check the influence of our narratives.
Property fantasies
My sister-in-law is selling her flat and asked if she should remove more of the personal photographs before the viewings.
Definitively no I suggested as ‘lived in’ properties allow the viewer to fantasise about living there. In a bare (or messy) space, it requires far more effort and imagination to transport yourself.
The fantasy encourages a sense of virtual ownership, an attachment to a product we feel without buying it completely. Dangerous if you’re the buyer, wonderful if you’re the seller.
It’s once you move in that the fantasy disappears when you find dirty nappies down the back of the loo and the boiler’s packed up.
Inertia effect
More on our smart buildings start-up Smart Zebra. As part of a trial, we are weighing up offering 3 months free service, including building survey, the installation of sensors, their monitoring and indeed removal if the service is no longer desired.
What about the opportunity cost of giving away and installing all the hardware, the sales team cries? Luckily, most people are lazy once utilities are in place; and especially where there is upfront effort and grudge, the product tends to stick (think your bank, insurer, broadband or energy supplier).
P.s. Newsletter subscriptions benefit from this too. Don’t act on it.
P.p.s. If you’re renting out a property, actively seek a grand piano owner. They tend to be nice people and since the instrument doesn’t move easily, nor will they.
Next week
Next Thursday, I'll be talking football and psychology with Guillem Balague, someone whose work I admire and whose commentary on the game of football is eloquent, thoughtful and profound.
If you like these tales, you might like more of my podcasts which are available on all the usual platforms (Apple, Spotify et al). Go ahead and subscribe.
Be well!
Daniel