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Predictably Irrational: The Hidden Forces That Shape Our Decisions

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Author: Dan Ariely
Publisher: HarperCollins
Category: Book

List Price: ~~$25.95~~
Buy New: $14.49
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Format: Roughcut
Media: Hardcover
Number Of Items: 1
Pages: 304
Shipping Weight (lbs): 1.3
Dimensions (in): 9.1 x 6.5 x 1.2

ISBN: 006135323X
Dewey Decimal Number: 153.83
EAN: 9780061353239
ASIN: 006135323X

Publication Date: February 19, 2008
Availability: Usually ships in 1-2 business days
Condition: New Unread Book with Remainder Marked- May Have Slight Handling Wear From Bookstore Shelf- Instock For Immediate Shipping

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Editorial Reviews:

Product Description
p ul liWhy do our headaches persist after taking a one-cent aspirin but disappear when we take a 50-cent aspirin? /li /p p liWhy does recalling the Ten Commandments reduce our tendency to lie, even when we couldn't possibly be caught? /li /p p liWhy do we splurge on a lavish meal but cut coupons to save twenty-five cents on a can of soup?/li /p p liWhy do we go back for second helpings at the unlimited buffet, even when our stomachs are already full?/li /p p liAnd how did we ever start spending $4.15 on a cup of coffee when, just a few years ago, we used to pay less than a dollar?/li /ul /p p When it comes to making decisions in our lives, we think we're in control. We think we're making smart, rational choices. But are we? /p p In a series of illuminating, often surprising experiments, MIT behavioral economist Dan Ariely refutes the common assumption that we behave in fundamentally rational ways. Blending everyday experience with groundbreaking research, Ariely explains how expectations, emotions, social norms, and other invisible, seemingly illogical forces skew our reasoning abilities. /p p Not only do we make astonishingly simple mistakes every day, but we make the same itypes/i of mistakes, Ariely discovers. We consistently overpay, underestimate, and procrastinate. We fail to understand the profound effects of our emotions on what we want, and we overvalue what we already own. Yet these misguided behaviors are neither random nor senseless. They're systematic and predictable#151;making us ipredictably/i irrational. /p p From drinking coffee to losing weight, from buying a car to choosing a romantic partner, Ariely explains how to break through these systematic patterns of thought to make better decisions. iPredictably Irrational/i will change the way we interact with the world#151;one small decision at a time. /p

Customer Reviews: Read 95 more reviews...

5 out of 5 stars

Engaging, Well Written, and Great Food for Thought November 23, 2008
My friend recommended this book to me and it turned out to be an absolutely great read. The basic premise of this book is that people do not act rationally and certainly not as the rational agents that one assumes in classical economics. Instead, we act in ways that would be considered "irrational" but are often quite consistent (hence the title). br /br /Mr. Ariely is a professor in Behavioral Economics in MIT so his case studies are tested through experiments conducted on various college campuses. For example, one of his case studies examined the appeal of "FREE!". In the experiment, they put up a concession stand selling chocolates - Hershey's Kisses at 1 and Lindt Truffles at 15 a piece (you could only buy one). 73% chose the Truffle over the Hershey's Kiss, even when they raised the prices a penny. They then took the prices and dropped them a penny. With the Hershey's Kiss as "FREE!", only 31% of the folks chose the Truffle. According to rational economics, this total reversal in behavior makes no rational sense (the price difference between Kiss and Truffle remained the same), and yet it does make "common sense". br /br /The book is filled with other such studies of "common sense" behavior tested empirically through different experiments. He closes each chapter with takeaway concepts which could be applicable in more substantial situations (i.e. if you want people to get preventative health care, it would be much more effective to make it FREE! instead of "really cheap").br /br /Well written and very readable, it is well worth picking up -- not necessarily a classic tome that I must have on my bookshelf (I got my copy at the library) but is definitely worth the time to pick up and read.

5 out of 5 stars

Extremely Interesting November 13, 2008
This book is extremely interesting and a quick read. I couldn't put it down. I do not have an economics or business background but I found the topic of behavioral economics to be very interesting.

5 out of 5 stars

Amazing read November 4, 2008
This book is awesome. Basically distills a number of fields and ideas that most will already have had exposure with via living, school, etc - but does so with wit and great craftsmanship. Points out our shared irrationality in a novel, entertaining and education fashion.

5 out of 5 stars

Factual yet Entertaining November 4, 2008
This is such a great book that explains how predictable our mind works and despite so we often are irrational in making decision.br /I really enjoy reading the book and I am sure you definitely will as somehow those irrationalities mentioned in this book were hardwired into our DNA.

3 out of 5 stars

Predictably monotone October 25, 2008
The premise is interesting, but the writing style didn't capture my interest. A lot of repetition. Yielded some useful insight. Overall, worth reading, even in a cursory manner.

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