Posted by Rebecca on .
How does lying about financial statistics relate to psychology? I have this so far:
People feel the need to tell the truth, not just because it’s the right thing to do, but also for more realistic reasons, such as the consequences for their actions. Businesses, however, will go the extra mile to make you buy their products and make as much money as possible. Leonard Saxe, a polygraph expert and professor of psychology at Brandeis University, says, "Lying has long been a part of everyday life. We couldn't get through the day without being deceptive."
There are many tricks of the mind businesses use to convince their buyers that they are the high class and official. A technique used by many businesses is "the illusion of precision." By using decimals, for example, can make a number seem more convincing. Instead of writing that you beat the index by 2 per cent, put it as 2.35 per cent. This may be true; however a business may be convincing you to believe they are very precise and hard working. There are many other percentage schemes, such as “We have expanded our team of financial analysts by 50 per cent over the last year," This is impressive, but, if it means that instead of only one full-time person, you also have someone coming in during the mornings, the reality isn’t as exciting.
does anyone have anything to add or believe something I said doesn't make sense?