Top 25 growth books - XXV
Predictably Irrational
Dan Ariely
A few quotes from the book:
“Individuals are honest only to the extent that suits them (including their desire to please others)”
“Ownership is not limited to material things. It can also apply to points of view. Once we take ownership of an idea — whether it’s about politics or sports — what do we do? We love it perhaps more than we should. We prize it more than it is worth. And most frequently, we have trouble letting go of it because we can’t stand the idea of its loss. What are we left with then? An ideology — rigid and unyielding.”
“Standard economics assumes that we are rational... But, as the results presented in this book (and others) show, we are far less rational in our decision making... Our irrational behaviors are neither random nor senseless- they are systematic and predictable. We all make the same types of mistakes over and over, because of he basic wiring of our brains.”
“....one that we are just beginning to understand- is that trust, once eroded, is very hard to restore.”
“A few years ago, for instance, the AARP asked some lawyers if they would offer less expensive services to needy retirees, at something like $30 an hour. The lawyers said no. Then the program manager from AARP had a brilliant idea: he asked the lawyers if they would offer free services to needy retirees. Overwhelmingly, the lawyers said yes. What was going on here? How could zero dollars be more attractive than $30? When money was mentioned, the lawyers used market norms and found the offer lacking, relative to their market salary. When no money was mentioned they used social norms and were willing to volunteer their time. Why didn’t they just accept the $30, thinking of themselves as volunteers who received $30? Because once market norms enter our considerations, the social norms depart.”
Dan Ariely (1967) is the James B. Duke professor of Psychology and Behavioral Economics. He teaches at Duke University and is the founder of The Center for Advanced Hindsight.
Why do we do certain things that we do?
Why does recitation of the Ten Commandments reduce our tendency to lie?
Why are we OK with spending on an expensive meal but look for discount coupons when buying twenty-five cents on a can of soup?
Are we making our decisions rationally? Are we in control of our lives as we tend to presume?
The author produces evidence after after evidence that we behave irrationally.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.
Namaste
Prabir
Why does recitation of the Ten Commandments reduce our tendency to lie?
Why are we OK with spending on an expensive meal but look for discount coupons when buying twenty-five cents on a can of soup?
Are we making our decisions rationally? Are we in control of our lives as we tend to presume?
The author produces evidence after after evidence that we behave irrationally.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.
Namaste
Prabir
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