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Predictably Irrational: The Hidden Forces that Shape Our Decisions Paperback – 18 Feb 2010
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'For anyone interested in marketing - either as a practioner or victim - this is unmissable reading. If only more researchers could write like this, the world would be a better place.' Financial Times
‘A marvelous book that is both thought provoking and highly entertaining, ranging from the power of placebos to the pleasures of Pepsi. Ariely unmasks the subtle but powerful tricks that our minds play on us, and shows us how we can prevent being fooled.’ Jerome Groopman, New York Times bestselling author of How Doctors Think
‘PREDICTABLY IRRATIONAL is wildly original. It shows why—much more often than we usually care to admit—humans make foolish, and sometimes disastrous, mistakes. Ariely not only gives us a great read; he also makes us much wiser.’ George Akerlof, Nobel Laureate in Economics, 2001 Koshland Professor of Economics, University of California at Berkeley
About the Author
Dan Ariely is the Alfred P. Sloan Professor of Behavioral Economics at MIT. His work has been featured in leading scholarly journals as well as a variety of popular media outlets, including the New York Times, Wall Street Journal, Washington Post, Boston Globe, Business 2.0, Scientific American, and Science. He has also been featured on CNN and National Public Radio. Dan publishes widely in the leading scholarly journals in economics, psychology, and business. His work has been featured in a variety of media including The New York Times, Wall Street Journal, Washington Post, Boston Globe, Business 2.0, Scientific American, Science and CNN. He splits his time between Princeton, NJ, and Cambridge, MA.
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The book describes how various factors affects our decision making process and lead us to make wrong decision without making us realize about it. It is very well supported by appropriate examples and well designed experiments.
If you are new to the subject, you will find the book surprisingly interesting. For example, how seller set the pricing of two or more nearly related products to make you purchase or select the particular product. Must read.
I first read this book five years ago and my opinion about his works has changed completely.
This book is a good read. It complements his course on Coursera well. The kind of experiments you see will make you fall in love with the fact that we are so irrational. Next time you do something irrational, this book gives you interesting frameworks to understand what you are doing.
I would say it's going to be irrational not to buy this book.
It is great that he has drawn and learnt so many parallels of life experiences from his own although the burns he had been through is terrible.
The example of placebo surgery with same perceived results with those who had in fact undergone real one is the one I found most astonishing!
Aversion to risk, reward ego/thinking, halo effect of brands & presentation all great examples for why we as society consistently exhibit irrational tendencies yet won't consciously recognize or acknowledge it.
It kind of very much proves that almost all of us can be manipulated very easily and we definitely are not as rational as we think we are. There are few nitty gritty things about which II don't agree with Author but I agree its totally worth every single penny you'll pay for it.
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