Lists

3 ways that big data reveals what you really like to watch, read and listen to

Anyone who’s watched “Bridget Jones’s Diary” knows one of her New Year’s resolutions is “Not go out every night but stay in and read books and listen to classical music.” The reality, however, is substantially different. What people actually do in their leisure time often doesn’t match with what they say they’ll do.

Economists have termed this phenomenon “hyperbolic discounting.” In a famous study titled “Paying Not to Go to the Gym,” a couple of economists found that, when people were offered the choice between a pay-per-visit contract and a monthly fee, they were more likely to choose the monthly fee and actually ended up paying more per visit.

Source: theconversation.com
Author: Anjana Susarla

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