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Predictably Irrational

March 25, 2013 Leave a comment

This is a book review and commentary on “Predictably Irrational – The Hidden Forces That Shape Our Decisions” Dan Ariely. 
Great book.  Recommended reading.

In his fascinating book, “Predictably Irrational – The Hidden Forces That Shape Our Decisions” Dan Ariely scientifically documents our flawed human decision-making process.  His focus is primarily a new field of research called behavioral economics.  He empirically examines individuals’ decision-making processes related to a wide range of issues with implications far beyond mere economics; some of the more provocative topics are listed below:

  • The Cost of Zero Cost
    • Why we often pay too much when we pay nothing
  • The Cost of Social Norms
    • Why we are happy to do things, but not when we are paid to do them
  • The Influence of [sexual] arousal and passion
    • Why sound decision-making is abandoned by the emotions of the moment
  • The effect of expectations
    • Why a person gets what he expects
  • The nature of our character
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