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? 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. They're 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.
©2008 Dan Ariely; (P)2008 HarperCollins Publishers
"Behavioral economics" - what this book is about - is the missing link between economic theory and how real consumers behave. More than a fascinating glimpse into our irrational decision-making processes, marketers and entrepreneurs will learn a lot about their customers.
Bonus points go to the author for actually conducting most of the research in the book (along with his MIT colleagues). Readers win because, in addition to well documented findings, we are treated to insightful and often funny stories about the studies themselves. By adding context to the research, the findings are much more memorable than dry statistics and analysis.
The narrator is thoroughly engaging and does a fabulous job telling the numerous stories and preserving the author's wit. My mind didn't wander as much, so I remembered more and rewound less.
Finally, BRAVO to the publisher and Audible for including a downloadable supplement that includes the graphs and illustrations from the print edition. THIS PRACTICE SHOULD BE STANDARD. I've listened to many non-fiction books, only to later see the print edition and discover how much visual content I missed. THANK YOU for truly delivering on the promise of audio non-fiction: spoken word text that preserves the unspoken, visual content of the author's work.
It's not too often that a person can laugh out loud at a book about economic decision-making. However, this happened to me several times when I listened to this. I wish I could go back to college and study behavioral economics instead of sleeping through my psych classes.
The narrator is very fun to listen to and adds to Dan Areily's cheeky writing style. If you liked Freakonomics, you will love this book.
This book deserves the 4-5 stars that many, many, people have given.
I almost did not purchase this title solely because another reviewer said "I read this book already, it was called Blink . . . . " This statement is false. I read Blink just prior to this title. Approximately 10 minutes, out of 7 hours and 27 minutes, is the same as Blink.
Predictably Irrational is highly recommended.
This is a great audio book. It explains a lot of human's irrational behaviour. The reading is great. It is humorous and enlightening and offers some great conversation starters eg the power of "Free". Buying this audio book was a great rational and irrational decision. Definitely worth a credit.
The book contains interesting insights and valuable points that could help anyone better understand their behavior and the behavior of those around them. That said, the author cooses to attack psychological phenomenon with economic theory - an approach that completely ignored information and game theory and causes, in my opinion, fatal incompleteness to nearly every study presented in the book. For example, the author talks about giving away free $10 Amzon gift certificates in the mall, versus allowing people to purchase $20 gift certificates at a discount of more than $10. A large majority of participants opted to get te free gift certificate, even though it was worth less money. According to the author, and his economic theory, this makes no sense and the participants failed to act rationally. The author did not even briefly consider the information assymetry and its potential effect: HE knows its a real gift certificate, but as far as the participants know its a fake gift certificate, or it doesn't work right, or something is wrong with the study, they simply don't want to take their wallet out in public, or they don't want to wait for change. Trust, game, and information theory are not considered, and so many rational behaviors are hand-waved away as irrational. The author consistently fails to consider trust and information availability and the necessary impact on behaviorsin a frustrating manner.
What a fascinating book about our choices and the reasons we make the decisions we do. If you have ever wondered why you buy things you hadn't intended on-- this is a book for you. I am hoping that just being aware of the things I do that I can see are irrational will stop because I now have more insight. We will see.
An interesting and entertaining listen.
I loved almost every page of this book and can't wait to listen to it again slower, so I can remember more of the nifty experiments the author used to study psychology, economics, and the fundamentals of how we think (irrationally!). Ever bought something "on sale" that you don't need? Ever taken home something from a conference or a fair just because it's free? Need a deadline to finish projects? This book helps you understand these questions and helps to answer them.
This is the best book I've read in this genre since Freakonomics.
This is one of the best books I have read about things that influence our decision making. Why will we go out of our way to $7 on an item that costs $20 but not go out of our way to save that $7 on something that costs $200? How are influenced into choosing one of two choices by the introduction of a choice that we will not make? These observations and others are fascinating observations and psychological experiments that demonstrate how we think and act. Factors that influence our morality, cheating and decision making are presented in a way that hits home - I found my own behavior presented in almost every chapter. The author is a social psychologist that presents his concepts very clearly and in situations you will recognize. He follows ups his concepts by describing cleverly designed 'experiments' on students (typically from MIT). The experiments clearly demonstrate why choices are made in certain situations. This book is good not only for your own personal understanding of how decisions are made but should also be read by anyone who wishes to infuence how others make decisions. Great concepts for people in sales, marketing and business. If you like this genre, this is one of the best.
"Know thyself", (an inscription on the temple of Apollo). The human mind is incredible biologically but when you begin to study the way we convince ourselves of truth, it becomes mind-boggling. Understanding why we do certain things is a mystery to most of us. This book invites us to examine "the irrationality" of what we consider to be "clear thinking". Situations like the "come on ploys" of advertising to the excuses that we parden our own behavior with, the author examines and tests (statistically) the bad thinking or "not useful thinking" of himself and the people around him. Written with a touch of irony and good humor, this book examines its a humorous as well as the insidious dimensions of our everyday thinking.
This book has maintained a high 4.25 rating with over a thousand ratings given to it thus far, so it is clearly the creme of the crop for this phsycho-economic genre. Audible ratings are hard to maintain over the long run unless this book is as outstanding as this one is. As far as the book itself this profesor and slightly mad man along with his cronies are big time ivy league practical jokesters. Half the experiments had me cracking up the way they are presented in this book. This guy is clever, really clever. Enjoy.
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