How much would you pay for a $20 bill? Jessie Christo tells the twenty dollar bill story.
If asked with this question now, generally most people would be willing to pay less than twenty dollars for the bill. However, when a study was made years ago asking a group of people to bid how much they are willing to pay for the twenty dollar bill, the ending will surprise you. This study was replicated in different cities using the same concept. On average, it comes down to two guys outbidding each other and the highest bid the study got was twenty-seven dollars! The person who did not bid higher than twenty-seven dollars felt disappointment he lost when in fact he just saved himself seven dollars.
What is the lesson to be learned from this study? People don’t want to be last in the game and they automatically feel lost when they are not ahead of the race. People sometimes let their emotions go crazy and they make irrational choices. People lose control of what they do with money in group situations.
Always remember this story to not let your emotions control you. Make wiser decisions for your future.
Watch the full video and realize how you can make unreasonable decisions when you let your emotions take over you.
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