← Map
Level 7
· ◆◆ · ~11 min
Value, Not Wealth
Value, Not Wealth
"The Nobel-winning correction to two centuries of economics: people don't feel how rich they are — they feel gains and losses against a reference point."
reference dependencethe value functiondiminishing sensitivitygains and losses as changesthe reference point
A short lesson, then a quiz. ❤️×3 — a wrong answer costs a heart; finish with at least one left and the level is yours. Lose all three and you'll have to try again. Replay any time — XP and cleared levels are never lost.