Who has the best answer?
Hey, to all you idiots who think that I'm doing it for a school project or something, I'm not. I'm reporting abuse to all of you who don't take this question seriously. I'm simply asking the question to give someone a chance to have a best answer.
Several people choose an integer between 0 and 100. The winner is the person whose integer is closest to 2/3 of the average of the numbers reported by all seven participants. What value would you choose?
The value I would choose is far from the rational choice and I will explain why.Repeated iterations of a backward induction method of course lead to the rational choice of choosing the lowest, non negative value possible i.e. 0 or 1 (dependent on inclusivity).So why would I, a rational utility maximiser with perfect computation of the outcomes of this game, not choose this optimal choice? Well simply because it’s not optimal.This optimal decision is only valid in a world where every one is as rational and as sound a computational machine as myself. In the real world this simply doesn’t hold true. People are unlikely to do repeated backward inductions and reach this ‘optimal’ solution.In fact, I’ve actually played this game and one person actually chose the number 69. Yes that’s right they chose a number that couldn’t possibly win unless everyone was a completely irrational actor too. While I will admit he was probably attempting what the British would call ‘Banter’, the irrationality left me dumbfounded at the time.All this goes to show is that people aren’t really as rational as economists sometimes like to think. So as for which number I would choose, the number which has gotten me the most success in this game is actually 17.Try it out sometime (preferably not against economists) and see how this does for you!
How do I convince people to buy life insurance?
How You Can Convince Clients to Buy Insurance Policy: 4 Ways1. Don't Sell to ThemThis may seem counter-intuitive. But asking your prospect direct question about sales without priming them could increase the chances of you losing a sale. For example, if you ask a prospect a question such as: "Do you have an insurance policy to protect your car if something happens to it?" If the prospect tells you no and you immediately offer an affordable product. The prospect will likely tell you: "Let me think about it"why? Because no one likes to be sold. But people like to buy something they think is their idea.So instead of offering you client a sale offer to solve their problem.2. Help Them Find the MoneyMany people are not open to buying insurance because they do not where to find the money. If you can show them how to take smart management decision that will bring out the money -you are closer to closing a sale.Can you help them reduce the premium on existing insurance policy?Can you offer them a discount by putting two or more policies in a single company?Can you offer a lower offer in a quality insurance firm which is the best interest of the client?If you can answer yes to this question then you are on your way to closing out more sales.source: How to Make Money and Acquire Customers as an Insurance Agent