Incentive-Caused Bias
A realtor will tell you its always a buyers market. A realtor will always tell you its a sellers market. A roofer will tell you that you need to re-do your roof every 4.2 years and every 3 years if you have at least 3in of hail over the last 2yrs.
When someone tell you to do “x”, always question (in your own head) “why? Did they tell you this because it is for your best interest? Is it truly for your good? Will it be beneficial to all concerned?
I see it like this, a Roofer increases his personal economy when he gets more home-owners to buy roofs. Even if he doesn’t get the sale of the roof, someone is thinking or buying roofs, and inadvertently, his personal economy will be increased. Will you benefit from buying a new roof? Yes. But Will your cash take a hit prematurely from buying a roof? Yes. Your potential loss from not having immediately bought the roof as relatively low. His gain from selling you a roof is most likely pretty high.
We should be adults and not worry about how much one makes or what they get from a deal, we should only worry about what value is added to us. But when someone tells me to buy bird poo insurance, i ask to myself “says who”, if the answer is The Bird Poo Insurance Salesman, than I take it with a grain of salt.
Let’s get 1% better everyday
