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Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions Paperback – April 27, 2010
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From Publishers Weekly
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to an out of print or unavailable edition of this title.
“Sly and lucid. . . . Predictably Irrational is a far more revolutionary book than its unthreatening manner lets on.” (New York Times Book Review)
“Surprisingly entertaining. . . . Easy to read. . . . Ariely’s book makes economics and the strange happenings of the human mind fun.” (USA Today)
“A fascinating romp through the science of decision-making that unmasks the ways that emotions, social norms, expectations, and context lead us astray.” (Time magazine)
“In creative ways, author Dan Ariely puts rationality to the test. . . . New experiments and optimistic ideas tumble out of him, like water from a fountain.” (Boston Globe)
“An entertaining tour of the many ways people act against their best interests, drawing on Ariely’s own ingeniously designed experiments. . . . Personal and accessible.” (BusinessWeek)
“Ariely’s book addresses some weighty issues . . . with an unexpected dash of humor.” (Entertainment Weekly)
“Inventive. . . . An accessible account. . . . Ariely is a more than capable storyteller . . . If only more researchers could write like this, the world would be a better place.” (Financial Times)
“Ariely’s intelligent, exuberant style and thought-provoking arguments make for a fascinating, eye-opening read.” (Publishers Weekly)
“A taxonomy of financial folly.” (The New Yorker)
“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)
“Dan Ariely is a genius at understanding human behavior: no economist does a better job of uncovering and explaining the hidden reasons for the weird ways we act, in the marketplace and out. PREDICTABLY IRRATIONAL will reshape the way you see the world, and yourself, for good.” (James Surowiecki, author of The Wisdom of Crowds)
“PREDICTABLY IRRATIONAL is a charmer-filled with clever experiments, engaging ideas, and delightful anecdotes. Dan Ariely is a wise and amusing guide to the foibles, errors, and bloopers of everyday decision-making.” (Daniel Gilbert, Professor of Psychology, Harvard University and author of Stumbling on Happiness)
“The most difficult part of investing is managing your emotions. Dan explains why that is so challenging for all of us, and how recognizing your built-in biases can help you avoid common mistakes.” (Charles Schwab, Chairman and CEO, The Charles Schwab Corporation)
“PREDICTABLY IRRATIONAL is wildly original. It shows whymuch more often than we usually care to admithumans 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)
“Dan Ariely’s ingenious experiments explore deeply how our economic behavior is influenced by irrational forces and social norms. In a charmingly informal style that makes it accessible to a wide audience, PREDICTABLY IRRATIONAL provides a standing criticism to the explanatory power of rational egotistic choice.” (Kenneth Arrow, Nobel Prize in Economics 1972, Professor of Economics Stanford University)
“A delightfully brilliant guide to our irrationalityand how to overcome itin the marketplace and everyplace.” (Geoffrey Moore, author of Crossing the Chasm and Dealing with Darwin)
“After reading this book, you will understand the decisions you make in an entirely new way.” (Nicholas Negroponte, founder of MIT's Media Lab and founder and chairman of the One Laptop per Child non-profit association)
“PREDICTABLY IRRATIONAL is a scientific but imminently readable and decidedly insightful look into why we do what we do every day...and why, even though we ‘know better,’ we may never change.” (Wenda Harris Millard, President, Media, Martha Stewart Living Omnimedia)
“Predictably Irrational is an important book. Full of valuable and entertaining insights that will make an impact on your business, professional, and personal life.” (Jack M Greenberg, Chairman, Western Union Company, Retired Chairman and CEO, McDonald's Corporation)
“Predictably Irrational is clever, playful,humorous, hard hitting, insightful, and consistently fun and exciting to read.” (Paul Slovic, Founder and President, Decision Research)
“Freakonomics held that people respond to incentives, perhaps in undesirable ways, but always rationally. Dan Ariely shows you how people are deeply irrational, and predictably so.” (Chip Heath, Co-Author, Made to Stick, Professor, Stanford Graduate School of Business)
More About the Author
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 Durham NC and the rest of the world
Top Customer Reviews
The book has many strengths, the main one being that it convincingly presents many ways people are wired and/or conditioned to be irrational, usually without even being aware of it. This eye-opening revelation can be a bit disheartening, but the good news is that we can fix at least some of this irrationality by being aware of how it can arise and then making a steady effort to override it or compensate for it. That's not an easy task, but it can be done. As a simple example, I've programmed a realistic exercise schedule into my PDA, and I've been very consistent with my exercise because of that. The PDA imposes a discipline on me which I couldn't otherwise impose on myself (as I know from experience).
The book is also well written, and I would even say enjoyable to read. The many experiments described in the book are presented in a lively way which elicits interest, and Ariely goes into just the right amount of detail -- enough to convey the basic experimental designs, results, and plausible interpretations, without boring the reader by getting into esoteric points which are more appropriate for journal papers.
The one criticism I have of the book, which applies to most of Western pscyhology, is that most of the described experiments used US college students as subjects. That raises a serious question regarding the extent to which the results can be generalized to people of the same age who aren't college students, people of other ages, and people outside the US.Read more ›
From my 2nd Career as a Business Development person (MBA), I began to have to deal with people's tendency to not entirely think things through.
Here in this book, we have a professor who runs socioeconomic tests on his MBA students. These students are smart enough, worldly enough, experienced enough, and educated enough to approximate the standard economic assumptions and produce reasonably rational behavior.
Guess what. Even among broad experiments conducted on multiple MBA classes over time, one can predictably pre-bias the outcome of a particular run of a socioeconomic experiment by what seeds you plant in the class members' minds before the experiment. For example, in one experiment in estimating prices, the author requires his students to write the last two digits of their social security numbers on the top of the paper. Simply the act of writing a high number (e.g., 88) versus a low number (e.g., 08) produced statistically significant correlatable influences on the students' later price estimates. Those compelled to write "88" at the top of their papers would reliably estimate higher prices than those compelled to write "08" at the top of their papers, to a statistically significant degree.
Extrapolating to "real life." Watching Fox News will tend to make you more conservative without you knowing it. Watching MSNBC news will tend to make you more liberal without you knowing it.Read more ›
What Ariely has done here is shift a lot of the thinking developed by such pioneers as Kahneman & Tversky who worked in behavioural economics, and moved it into the everyday sphere. And he's done a great, insightful job. Where the behavioural economists are focused on financial decisions (why we buy high and sell low - and confound the assumptions of the classic economists who assume 'the rational man,) Ariely eschews the technical language and walks us through everyday examples of our often fuzzy and quite irrational decision-making.
The result is utterly engaging - and this easy 300 page read still has academic rigour and strong foundations. Ariely cites many experiments and examples, and shows that we often get things wrong because we frame things the wrong way, mis-judge probabilities, apply heuristic rules of thumb that don't always work, or we just plain let our emotions rule.
We love to think that we're educated, rational and moral. Yet who hasn't overestimated the upside on a sure-fire investment, bought some clothing that we knew was a mistake even as we bought it, or got our wires crossed between work-rules and social rules? This book is fascinating, entertaining and very, very illuminating.
- Recommended for the general public, but I'd urge marketers, market researchers and business people to read this one carefully.Read more ›
Most Recent Customer Reviews
This book does a good job of explaining material that is widely available in other sources. The title says it all but the specific ways in which we are predictably irrational are... Read morePublished 8 days ago by Amazon Customer
Very educational and insightful, but also very dry and boring at times. The author is obviously very intelligent, and knows exactly what he's talking about, but his writing drags... Read morePublished 9 days ago by Max Freeman
Fabulous book with lots of entertaining insights backed by scientific studies. Loved it.
Good for the economics or data nerd.
It was very interesting to see how illogically decisions are often made. Eye opening in many respects and engaging writing style.Published 12 days ago by Jerpreach
A lot of examples from our daily life. A good reading material to know we are actually much irrational then we think, and author also provide solution to solve irrational behavior... Read morePublished 16 days ago by Eli
Very enjoyable to read!! Also it has many good insights about the topic.Published 18 days ago by book reader
This is a great book. I read is several years ago and bought another one for my nephew who is interested in behavioral economics.Published 24 days ago by Jeff E. Powers