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YanBz
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Your Shopping Choices and Your Brain ($50 Giveaway)

submitted on March 24, 2013 by YanBz in "Buxr Website / Contests", last updated on March 25, 2013 by YanBz
Have you ever gotten home with purchases you wish you had never made? A lot of our shopping choices are influenced by beliefs and auto-responses buried deep in my brain. Please read our recent blog post at this link for explanation on how each of them work: http://www.buxr.com/blog/2013/.....g-choices/

Some of these biases can be easily avoided while others are harder to break. Also, trying to deal with all at the same time can be overwhelming, so here is what we suggest you to do: pick one that you think has the most negative effect on your life, vote for it in the poll and share in the comments how you plan to deal with it, or better yet make it a promise to your fellow Buxr members!

We will randomly select one entry next Monday and award the winner a $50 cash prize. Registered Buxr members only (registration is free). One entry per member. US participants only. Contest closes April 1, 2013. The winner will be randomly selected and announced in the comments below on April 2.

This Poll is Closed


1. What has the most negative affect on your shopping?
  • Lack of Sleep (you make bad decisions when you are tired)
  • 12%
  • Decoy Effect (when something displayed next to better product)
  • 12%
  • Hyperbolic Discounting (when you don't want to wait for cheaper alternative)
  • 31%
  • Anchoring (labeling discounted price next to unrealisticly high regular price)
  • 0%
  • Emotional Response (puppies in comercials? :-)
  • 4%
  • Choice-Supportive Bias (decisions based on nostalgia)
  • 0%
  • Confirmation Bias (ignore facts based on pre-existing beliefs)
  • 12%
  • Restraint Bias (false confidence that you are in control)
  • 4%
  • Sunk Cost Fallacy (unwillingless to give up smth you paid a lot of money for)
  • 0%
  • Free Stuff that is Not (getting a freebie that ends up costing you)
  • 27%
    Total: 26 votes

     

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      Comments
    • 171817
      ecollins86
      learner
      1
      Posted by ecollins86 on March 25, 2013 [reply] 0 0
      It's a little frustrating when companies advertise a product as being free, when it turns out there's actually some sort of cost attached to it.
    • 171821
      edithem
      master
      11 8 1
      Posted by edithem on March 25, 2013
      [reply] 1 0
      It is impossible to wait If you want something badly enough Big Grin
    • 171824
      deathbynosleep
      teacher
      7 1 1
      Posted by deathbynosleep on March 25, 2013 [reply] 0 0
      Sometimes I will buy things locally instead of online...usually on things I do actually need right away. I did this today actually...I had bought some car parts online, one that I received was damaged. I couldn't wait days for a replacement part(needed this part to drive the vehicle)...so I spent an almost twice the money at the local auto part store.
    • 171827
      Solstice
      professor
      1 6 2
      11 4 1
      Posted by Solstice on March 25, 2013
      [reply] 2 0
      I find myself needing things for the classroom "immediately" frequently.

      I often can not really wait for a cheaper alternative or to shop around online.
    • 171830
      laaya
      professor
      1 1 2
      11 8 2
      Posted by laaya on March 25, 2013 [reply] 0 0
      Mail-in-rebate..OMG..i missed many of these which ends up with lots of money Eeek This is some kind of freebie that ends up costing you if you miss. Even sometime you don't receive the rebate after mailing all the information Evil
    • 171841
      mooncow728
      professor
      1 1
      12 6 1
      Posted by mooncow728 on March 25, 2013
      [reply] 7 0
      Lack of sleep and having kids with me seem to cost me the most. I'm so tired so often because I try to get everything I can done after the kids go to bed which keeps me up too late and then I want to be lazy and buy the easiest solutions, or just don't want to think.

      The kids cost me more too, not because they want everything, but because I linger in the store longer. It seems they notice silly things and I, being easily amused,stop and look with them and wind up seeing other things. I'm such a kid at heart too so when I see stupid little toys that cost a dollar or less I have to buy them. They sure do add up quick though. I'm also more tempted to buy "prettier" packages when I'm with my girls even if it means paying more. It makes no sense though. I wouldn't do it without them.

      I just need to learn to manage my time better throughout the day so I don't have to stay up so late getting things done. Or maybe I should start doing my shopping after they go to bed? Hmm wonder which one I would actually follow through with...probably neither Amused
    • 171843
      YanBz
      admin
      Posted by YanBz on March 26, 2013
      [reply] 3 0
      Hyperbolic Discounting does the trick for me, and probably for plenty of other folks. This is why JCPenney is struggling after eliminating sales in favor of "everyday low prices" (a policy they've since rescinded)
        172075
      • YanBz
        admin
        Posted by YanBz on March 29, 2013 [reply] 0 0
        Oops, meant to say "Anchoring" there.
    • 171894
      bkchavez
      apprentice
      11 2 1
      Posted by bkchavez on March 26, 2013
      [reply] 3 0
      I tend to get caught up in any and all BOGO offers. I end up buying stuff I normally would not buy or more than I need.
    • 172035
      CouponNut
      deity
      23 14 8
      12 10 2
      Posted by CouponNut on March 28, 2013
      [reply] 1 0
      The decoy effect gets me everytime because in my head I say to myself; for a dollar or two more I can get something I really want that is better quality and by far is worth it. Smile
    • 172040
      equipurple
      professor
      2
      11 8 1
      Posted by equipurple on March 28, 2013
      [reply] 1 0
      I tend to confirm my past purchases, generally by brand name bias, positive or negative. I will endeavor not to do so.
    • 172325
      onkarkulkarni
      professor
      9 4 4
      11 8 2
      Posted by onkarkulkarni on April 1, 2013 [reply] 0 0
      For me it is the combination of hyperbolic and decoy effect as I sometimes get carried away with the lower price but then end up regretting it. However, off late I have controlled this habit of mine and tend to wait for the right time and price for the product I wish to purchase. Quality always comes at a price Smile
    • 172340
      YanBz
      admin
      Posted by YanBz on April 2, 2013
      [reply] 1 0
      Thank you to everyone who participated in the giveaway. I just ran the random number generator at random.org and the winner is... roxytang who was #21 out of the 26 people who took the poll.
        172399
      • siggy38
        deity
        2 11 9
        12 9 2
        Posted by siggy38 on April 2, 2013
        [reply] 1 0
        Congrats roxytang!
    • 172341
      CouponNut
      deity
      23 14 8
      12 10 2
      Posted by CouponNut on April 2, 2013
      [reply] 1 0
      Congratulations roxytang! How did you vote?
        172349
      • roxytang
        professor
        2
        10 7 2
        Posted by roxytang on April 2, 2013 [reply] 0 0
        Thanks! I am a confirmation bias shopper.
    • 172350
      roxytang
      professor
      2
      10 7 2
      Posted by roxytang on April 2, 2013
      [reply] 3 0
      Thank you Yan and thank you Random Number Generator. You made my day! Big Grin
        172353
      • bemicmom
        professor
        6 3 4
        10 9 2
        Posted by bemicmom on April 2, 2013
        [reply] 4 0
        Congrats roxytang!
      • 172370
      • laaya
        professor
        1 1 2
        11 8 2
        Posted by laaya on April 2, 2013
        [reply] 2 0
        Congrats Roxytang:) you got the $50 Easter Egg Mr Green
    • 172356
      supergirl
      professor
      1
      8 8 2
      Posted by supergirl on April 2, 2013
      [reply] 3 0
      Congrats roxytang!!! Big Grin
    • 172369
      equipurple
      professor
      2
      11 8 1
      Posted by equipurple on April 2, 2013
      [reply] 3 0
      Congrats Roxytang! What are you gonna spend it on????
        172425
      • roxytang
        professor
        2
        10 7 2
        Posted by roxytang on April 3, 2013
        [reply] 1 0
        Thanks! All of my Buxr winnings go into my IRA.
      • 172466
      • CouponNut
        deity
        23 14 8
        12 10 2
        Posted by CouponNut on April 3, 2013 [reply] 0 0
        All my Buxr winnings bought me a new car!
      • 172474
      • psplove
        professor
        3 1 6
        11 9 2
        Posted by psplove on April 4, 2013
        [reply] 1 0
        CouponNut. Only $4665 for a new car? What kind of new car for only $4665? I need to get one too. Eeek
      • 172484
      • CouponNut
        deity
        23 14 8
        12 10 2
        Posted by CouponNut on April 4, 2013 [reply] 0 0
        A nice down payment pspslove! Thanks for reading my comment and thanks for the laugh! Amused
      • 172659
      • clover
        professor
        1 6 7
        12 11 2
        Posted by clover on April 6, 2013
        [reply] 1 0
        Just saw this Roxytang! Congrats. My Earthlink has been down so I haven't been around much! Big Grin
    • 172376
      onkarkulkarni
      professor
      9 4 4
      11 8 2
      Posted by onkarkulkarni on April 2, 2013
      [reply] 3 0
      Congrats Roxytang!!
    • 172398
      psplove
      professor
      3 1 6
      11 9 2
      Posted by psplove on April 2, 2013
      [reply] 2 0
      Great.. Congrats roxytang!
    • 172455
      Version
      professor
      9 7 2
      Posted by Version on April 3, 2013
      [reply] 1 0
      Congratulations roxytang!

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