The Confidence Game, by Maria Konnikova
Category: Business, Mindset
Ideas I found interesting:
* Ask for a big favor first – if refused, asked for smaller, what you really wanted – the other side will feel bad refusing again. Because we feel rude/guilty by saying No so we would agree to a second smaller ask.
* Legitimization effect – don’t ask for a lot in the beginning like it’s not about money for you – it will come back in the long run.
* Power derivatives: reward power (belief someone has a power to reward you), coercive (to punish), legitimate (actual authority), referent power (affiliation with someone or desire to be affiliated), expert power.
* If we think someone has power we tend to do what he asks.
* Use the power of community to get smth from someone. Or if the person has desire to belong to the community/group – more willing, desire to belong.
* Illusion of truth – we are more willing to believe smth that seems more familiar. Mention smth in the passing, then elaborate on it again a few days later.
* Pique technique – bombard someone with so much info that another person would get distracted to process main info in question, cognitive overload.
* Persuasive strategies a) increasing the appeal of smth b) decreased resistance surrounding smth – make an offer so easy so it’s a no brainer, convince me of smth by making me want to approach and decrease any reasons for me not to want to do it. “You are the perfect person for the job and why wouldn’t you wanna do it, what’s the worst that could happen?”
* Persuasive: reciprocity, scarcity, consistency, social validation, liking, authority.
* use a) and b) together
* Someone who already agreed to perform a small request would be more willing to perform a larger one later.
* We want to believe the tale. It’s not about love or money, it’s about belief – we want to believe the things that are too good to be true.
* We think of ourselves being above average – con artist will bring this out of you front and center -> vanity.
* When things are going according to plan we are more likely to believe it’s a good plan.
* Put-up – pick carefully from the crowd, play – establish the bond thru emotional connection/storytelling, the rope – lay out persuasive pitch, the tale – how personally benefit based on exceptionalism, convincer – let win if goes along, breakdown – starting to lose but would you prefer to stick around and not notice the cracks?
* To reduce dissonance: revise interpretation of reality/convince that there is no inconsistency, revise prior expectation. New cognitive inputs are not likely, we err on the side of what we’ve already decided and we most likely continue to assimilate new data to support what we’ve already decided to be true.
* Hindsight bias selectively draw attention to certain things you want to be remembered because that’s what’s going to be recalled.
* Negative recency effect – a recent loss could mean a larger commitment.
* Once we have something it’s value increases by virtue of ownership and we like things as they are – why exchange what we already have, “to do nothing is in the power of all men” – so even if losing, tend to stick to the same.
* Once we are in, all well and good, we are in.
* Once we invested heavily into smth, we no longer see it clearly no matter the costs.
* When we are happy we don’t analyze the data as systematically as we otherwise would and this become far more open to persuasion; most persuasive is the one who just experienced a relief (create a sense of danger/fear and then a sense of relief – plays anxiety).
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