In addition to innumerable colleagues, readers are introduced to wife Sumi and daughter Amit, discovering intimidate details such as how Suri came to the decision to use an epidural during childbirth.Īriely seems to enjoy telling stories. The accounts aren’t just limited to his professional life, either. Readers are treated to many stories from his extensive back catalog of research experiments. Without this awareness, we are often at the mercy of advertisers and others who know how to use these hidden mechanisms to manipulate our behavior.Īriely has an impressive resume, and he isn’t shy about mining it for anecdotes to support his argument. Only until we learn and understand how our primordial passions steer our lives can we regain control. Delusions and self-rationalizations lurk behind many of our actions, subtly undermining our best interest. Dan Ariely looks at self-defeating behavior, the power of suggestion, of procrastination, the effects of placebos and many other aspects of our lives that we are often unaware of. In Predictably Irrational: The Hidden Forces That Shape Our Decisions, Dr. This is the goal of behavioral economics, a field that uses psychological insight to understand economic decision making. Economics should be based more on how people really behave. But this unrealistic, and frankly simplistic, worldview does not advance economic understanding. Traditional economics posits a world where people act rationally and make economic decisions based on their own best interests. We have instincts that help us negotiate a complex world, and these instincts tend to channel us into repetitive behavior so that we don’t have to spend a lot of time making decisions about things that aren’t essential to our survival. There are predictable patterns in our behavior. As a matter of fact, we make the same mistakes over and over again, and there is nothing random about that. Just because we’re irrational, however, it doesn’t follow that we’re chaotic. Most of the time, we’re deeply irrational. Standard economic theory assumes that we are rational, but we are not. We’re really the victims of our own instincts and impulses. We think we’re in the driver’s seat and steering the course of our lives, but we are wrong. Most of the time we don’t understand what’s really going on.
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