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Difficult Real Estate Decisions: Can Tylenol Help?

tylenol bottleI just read an interesting article in The Wall Street Journal that might show a correlation between acetaminophen and reduction in the psychological pain of difficult real estate decisions. The article is based on a new study that will be released next year in the Journal of Experimental Social Psychology titled “Can Acetaminophen Reduce the Pain of Decision-Making?” The latest study is based on a prior one that showed a connection between emotional and physical pain.
“When people talk about decisions they have to make, they talk in terms of pain,” said Nathan DeWall, co-author and professor of psychology at the University of Kentucky. He cautions that although the study offers insights, it does not provide all the answers when it comes to real estate, or any major decision for that matter. “I’m not saying that if you take acetaminophen, people are going to stop fighting with their real-estate agents,” DeWall added.
The experiment split 95 undergraduate students into separate groups: those that took 1,000 milligrams of acetaminophen, (or two Extra-Strength Tylenol tablets) and those that were given a placebo instead. The students were handed coffee mugs with their university’s logo and asked to sell the mug. The findings were illuminating: those who took the acetaminophen asked for a lower price while those given a placebo asked for more.
According to experts, the findings exemplify “loss aversion,” a theory that people would much rather avoid losses than acquire gains. It was clearly easier for students that took acetaminophen to give up something.
If you are struggling with making the right real estate decision regarding a property in Montecito or any of the upscale communities of Santa Barbara, the latest findings say Tylenol can help! I can also be of assistance; offering my 25+ years in the industry. Please give me a call at 805.886.9378 or email me at Cristal@montecito-estate.com and be sure to check out my website. Meantime, please LIKE me on Facebook.
 
 

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