REGULAR 30 MINUTES A DAY WILL CHANGE LIFE FOR THE BETTER
Patience is always rewarded. How to learn patience? Patience is a quality that you need to learn to educate it in yourself. It also requires willpower. There are many techniques.…

Continue reading →

HOW TO SELL $ 20 FOR 200 OR EXPERIMENTS WITH THE PSYCHOLOGY OF THE MARKET
Do you know how to sell a twenty-dollar bill, not at face value, but for two hundred? Not everyone knows, but Professor Max Baserman knows the secret. He has already…

Continue reading →

HOW TO OPEN A MOBILE BEAUTY SALON FROM SCRATCH FOR BUSINESS
In this business idea, we will give a positive and economically justified answer to the question: is it real to open a beauty salon for a poor person? Mobile beauty…

Continue reading →

HOW TO SELL $ 20 FOR 200 OR EXPERIMENTS WITH THE PSYCHOLOGY OF THE MARKET

Do you know how to sell a twenty-dollar bill, not at face value, but for two hundred? Not everyone knows, but Professor Max Baserman knows the secret. He has already got his hands on the annual auction at Harvard Business School, which he himself organizes. This is a kind of practical guide for the study of the psychology of the modern market.

The terms of the auction are as follows… a twenty-Dollar bill is put up for auction. Participants can offer any amount for it, but there is one significant nuance. It is that Bazerman requires the second person after the winner of the auction, who bought $ 20, to give the amount of his offer. What for? That’s the point.

No one wants to lose, let alone be number two. Since the second not only loses, but also remains in a specific minus. Speaking about the history of this auction, it should be noted that the auction passes for the amount of $ 20. That’s when the fun begins. There are two players who do not want to give in to each other, because the number two will remain in a catastrophic loss. An interesting fact is that no one has ever bought a banknote for twenty dollars. Paradoxical rate – for 20 to pay more, but these are the laws of the modern market, pronounced in this model.

THE SECRET PSYCHOLOGY OF THE MARKET?
In this experiment, often observed moments of transition rates for 50, and after – for a hundred dollars. But the record auction Bazerman 20-weave was an amount of 204 USD. This training-auction Professor successfully conducts not only with students but also with financial workers in refresher courses or special seminars. The result is the same! Praise to the merciful and non-greedy teacher for the fact that he spends this kind of earnings for charitable purposes.

What is the secret of financial psychology of market participants? Let’s try to understand the theory. In human nature inherent instinctive syndrome (loss aversion) a fear of loss. At loss of money the person shows inadequate behavior, a certain confusion and irrationality in acts.

First we “enter” for free cheese in a mousetrap. But every person in this situation is well aware that more than $ 20 no one will give. Just at this stage of the auction of the race went by many participants. And then comes the moment of manifestation of loss aversion. About somewhere before the $ 16, when a person, afraid of losing money, quickly adds the amount of the bet. And enhances the fear of losing – competition.

HOW TO OPEN AND HOW MUCH IS THE MCDONALDS FRANCHISE
McDonald's restaurant, offering fast food service ,is located around the world. In practice, one person can not build their own restaurant McDonald's, but the company is constantly looking for places…

...

CONSTRUCTION OF THE ATTIC FOR A BUSINESS WITH THEIR HANDS
Arrangement of the attic for home business can be done with their own hands. Attic – is enough space in the house for the implementation of small business ideas. Simple…

...

HOTEL TV IN THE HOTEL BUSINESS. CONTENT PROVIDER OF INTERACTIVE TV IN UKRAINE
Hotel TVs in the modern hotel business Customers of modern hotels are already accustomed to the fact that in the room they will be available the same entertainment and services…

...

CHILDREN'S THRIFT STORE AS A BUSINESS IDEA FOR MOMS IN THE DECREE
What to do with the things that the child has grown out of, but time has not even touched them? You can give a neighbor who has a younger baby,…

...