Why do smart people make irrational decisions every day? The answers will surprise you. Predictably Irrational is an intriguing, witty and utterly ...Show synopsisWhy do smart people make irrational decisions every day? The answers will surprise you. Predictably Irrational is an intriguing, witty and utterly original look at why we all make illogical decisions. Why can a 50p aspirin do what a 5p aspirin can't? If an item is "free" it must be a bargain, right? Why is everything relative, even when it shouldn't be? How do our expectations influence our actual opinions and decisions? In this astounding book, behavioural economist Dan Ariely cuts to the heart of our strange behaviour, demonstrating how irrationality often supplants rational thought and that the reason for this is embedded in the very structure of our minds. Predicatably Irrational brilliantly blends everyday experiences with a series of illuminating and often surprising experiments, that will change your understanding of human behaviour. And, by recognising these patterns, Ariely shows that we can make better decisions in business, in matters of collective welfare, and in our everyday lives from drinking coffee to losing weight, buying a car to choosing a romantic partner.Hide synopsis
Predictably Irrational: The Hidden Forces That Shape Our Decisions (Harper) – Hardcover (2008)
Hardcover, Harper 2008
ISBN: 006135323X ISBN-13: 9780061353239
In the tradition of "Freakonomics" and "Blink," a behavioral economist argues that human behavior is often anything but rational--that thoughts are not random, but instead are systematic and predictable.In the tradition of "Freakonomics" and "Blink," a behavioral economist argues that human behavior is often anything but rational--that thoughts are not random, but instead are systematic and predictable.Hide
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I want to know how Ariely got his job!!! I want one just like it.
The book is a light skim over the very serious subject of Behavioral Economics, and as such, has stuff of great value to anyone in sales, marketing, or the human race. It is the deeper aspects he did NOT address that I find profound, and surprising for his not having mentioned them.
For example, he shows how humans routinely make miscalculations about economic value, using endearingly simple experiments. Not stated are how such experiments could have been done decades, or even centuries earlier, and how they would have changed the modern [dare we call it] science of economics in profound ways. Also, we are not treated to cross-cultural experimental results - a significant shortcoming, notably since both Dan and at least half his co-researchers are not American by background.
This book should be read along with [at minimum] Fooled By Randomness and The Black Swan by Nassim Taleb and Blink and Tipping Point by Malcolm Gladwell. Dan is on to something here, and needs to flesh out this work with another book.
Behavioral psychology and, specifically, behavioral economics (the subject of this book) clearly have much to offer us all in understanding our business and personal relationships and for developing better ways to collaborate and be effective as individuals, organizations, and as a nation. Dr. Ariely has presented what is obviously a mountain of research and experimentation in a way that is easy to understand, easy to take in and assimilate with your existing knowledge, and easy to see how it will play into other areas of your life. The recording was excellent, although the reader's British accent was a bit strong at times. Overall, this was an exciting and stimulating book to hear and I'll be buying the book for reference again.
This book is written by a economy professor whose interest is in economical behavior. It is easy to read; it's like novel. It tells stories and it's like giving lecture on the book. It's suitable for business in terms of marketing, and psychology in terms of decision making.
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