Predictably Irrational - Book Summary

Dan Ariely

Digital

Available

Why 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.

What will you learn from this book

In this summary, you will learn:

1. The concept of relativity and how it affects our decision.

2. The concept of “Arbitrary Coherence” - how pricing of items and willingness to pay for it is determined.

3. How “FREE!” items are the ultimate choice.

4. Social norms vs. Market norms.

Language English
No of pages 20
Book Publisher i-Read Publications
Published Date 02 Mar 2020

About Author

Author : Dan Ariely

3 Books

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