Question

Explore the relationship between objective value, immediacy and spontaneity in our digital society's impulse-driven wants-based economy:

-How do relatively frictionless technologies instrument immediacy and spontaneity?

-How might trivial or illusory choices materially distort our perception of utility and value?

Answer 1

1)Imagine a world where your morning alarm is synced to your Google Calendar and adjusted based on traffic projections and your local weather; a world where preferred headlines are delivered to your bathroom mirror when you go to brush your teeth, and you can start a podcast by asking your Echo to play it, then continue listening on your phone or office smart speaker as you go about your day. It's a world where every device you interact with automatically plays to its strengths and you can move frictionlessly from one experience to another in ways that genuinely improve your quality of life.

2)To explain seemingly “irrational” decisions linked to perceived discounts and mark-ups, Thaler (1985, 1999, 2008) proposed that consumers get two kinds of utility from a purchase: consumption utility, the value of the good obtained relative to its price, and transaction utility, the perceived value of the “deal.” Consistent with this theory, marketing research has shown that “comparative price advertising,” such as providing an original price, can distort consumers’ purchasing behaviors.

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