Predictably Irrational: The Hidden Forces That Shape Our Decisions by Dan ArielyWhy do our headaches persist after taking a one-cent aspirin but disappear when we take a 50-cent aspirin?
Why does recalling the Ten Commandments reduce our tendency to lie, even when we couldnt possibly be caught?
Why do we splurge on a lavish meal but cut coupons to save twenty-five cents on a can of soup?
Why do we go back for second helpings at the unlimited buffet, even when our stomachs are already full?
And 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?
When it comes to making decisions in our lives, we think were in control. We think were making smart, rational choices. But are we?
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.
Not only do we make astonishingly simple mistakes every day, but we make the same types 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. Theyre systematic and predictable--making us predictably irrational.
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. Predictably Irrational will change the way we interact with the world--one small decision at a time.
INVISIBLE INFLUENCE: The Hidden Forces that Shape Behavior by Jonah Berger
Predictably Irrational: The Hidden Forces That Shape Our Decisions
Predictably Irrational is the bestselling book on irrational consumer behaviour by psychologist and MIT professor Dan Ariely. The main thrust of the book is that consumers are systematically irrational in their behaviour — at best making sub-optimal choices, and at worst engaging in self-punishing behaviour. But irrationality does not make consumer behaviour random or senseless. Attacking the rational choice theory that underpins most marketing models, Ariely uses behavioural economics, a fusion of economics and psychology to explain how consumers do behave, rather than how they should. The top-line takeout is that consumers are not rational actors, but irrational reactors — reacting to environmental stimuli with a set of cognitive heuristics mental rules of thumb that are fast and frugal, prompting them to do things that are often smart, but sometimes stupid. Through Predictably Irrational, Ariely outlines 13 ways in which consumers are predictably irrational, revealing 13 opportunities for marketers to harness consumer irrationality to sell more, for more, more often.
Why do our headaches persist after we take a one-cent aspirin but disappear when we take a fifty-cent aspirin? Why do we splurge on a lavish meal but cut coupons to save twenty-five cents on a can of soup? When it comes to making decisions in our lives, we think we're making smart, rational choices. But are we? From drinking coffee to losing weight, from buying a car to choosing a romantic partner, we consistently overpay, underestimate, and procrastinate. Yet these misguided behaviors are neither random nor senseless.
For years, the ideology of free markets bestrode the world, bending politics as well as economics to its core assumption: market forces produce the best solution to any problem. Here, Dan Ariely, an economist at M. It came to him at Burning Man, the annual anarchist conclave where clothes are optional and money is banned. To see how arousal alters sexual attitudes, for example, Ariely and his colleagues asked young men to answer a questionnaire — then asked them to answer it again, only this time while indulging in Internet pornography on a laptop wrapped in Saran Wrap. In that state, their answers to questions about sexual tastes,, violence and condom use were far less respectable.
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Predictably Irrational: The Hidden Forces That Shape Our Decisions is a book by Dan Ariely , in which he challenges readers' assumptions about making decisions based on rational thought. Ariely explains, "My goal, by the end of this book, is to help you fundamentally rethink what makes you and the people around you tick. I hope to lead you there by presenting a wide range of scientific experiments, findings, and anecdotes that are in many cases quite amusing. Once you see how systematic certain mistakes are—how we repeat them again and again—I think you will begin to learn how to avoid some of them". Ariely discusses many modes of thinking and situations that may skew the traditional rational choice theory. There are 15 chapters in total, and the following outline the main points. In chapter 1, Ariely describes the ways in which people frequently regard their environment in terms of their relation to others; it is the way that the human brain is wired.