Thursday, October 21, 2010

We Believe It 'Cuz We Paid For It

"The results show that people use paid advice significantly more than free advice and suggest that this effect is due to the same forces that have been documented in the literature to explain the sunk costs fallacy."

Unfortunately, there are lots of scammy folk online who use this to their advantage. They sell iffy information products to trusting souls who end up believing the information simply because they paid for it.


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