Tactics of Behavioral Economics That Sustained My 100-Day Dedication!

 

Ever get that itch to pick up a new language? Trust me, been there, done that. Turkish, French, Japanese—I've flirted with them all. But sticking to the plan? Now, that's been a bit of a rollercoaster.

Cut to a few months ago, I decided it was time to break the cycle and conquer Dutch. "This time, it's gotta be different," I told myself.

So, in my quest for linguistic mastery, I hit the internet for language apps. After some serious comparison, I narrowed it down to two heavyweights: Bussu and Duolingo. Guess which one won? Yup, Duolingo. Why? Well, it's got this user-friendly vibe, it's easy peasy, and it feels like a game. And just to spice things up, I threw in a challenge—100 days straight or face a $100 fine to my cousin if I bailed.

Fast forward to a couple of days ago, and bam! 100-day streak unlocked. I'm feeling like a language superhero. Now, you might be wondering, what made this time stick?

Consider the analogy of purchasing a new cell phone. Do you change the default settings, such as the ringtone? Why do we, as individuals, tend to stick with default options? The reasons lie in the realm of behavioral economics.

If you happened to miss my recent blog post, I mentioned that I'll be delving into a subject known as behavioral economics. Now, you might be wondering, what exactly is behavioral economics? It's a compelling field that examines the social, psychological, and emotional factors influencing our decision-making processes. Unlike traditional economics, which assumes rationality, behavioral economics acknowledges that we, as humans, are irrational beings susceptible to manipulation and nudges.

Ever wonder why that store price tags an item at $99 instead of a flat $100? Or why we're more likely to do a survey if it's framed as "you'll only spend 120 seconds" rather than "it won't take two minutes"? Yep, that's where behavioral economics swoops in, answering these questions that keep us up at night. Marketers and politicians are totally in on this game.

Now, back to my language-learning commitment. It all ties back to this thing called loss aversion. Basically, we really, really hate losing stuff. In my world, that translated to avoiding a $100 hit to my cousin.

And let's not forget the allure of default options, thanks to the "status quo bias." We love sticking with what we know, avoiding the hassle of deciding on new stuff with uncertain outcomes. It's like our comfort zone on autopilot.

This whole topic is a deep dive, and I'm gonna spill more beans on different concepts in the future. Stay tuned, folks! 

See you soon 😉