Predictably Irrational: The Hidden Forces That Shape Our Decisions [IMPORT] (Hardcover)

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Key Phrases: predictably irrational, pleasure units, market norms, Ten Commandments, The Economist, United States (more...)

Product Details

• Hardcover: 304 pages
• Publisher: HarperCollins; 1St Edition edition (January 1, 2008)
• ISBN-10: 0007256523
• ISBN-13: 978-0007256525
• Product Dimensions: 9.2 x 6 x 1.1 inches
• Shipping Weight: 1.2 pounds
• Average Customer Review: 4.2 out of 5 stars  See all reviews (253 customer reviews)
• Amazon.com Sales Rank: #1,766,842 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

210 of 235 people found the following review helpful:

5.0 out of 5 stars Welcome to the fuzzy world of being human., February 19, 2008

By	D. Stuart "Researcher at Kudos" (Auckland NZ) - See all my reviews

This review is from: Predictably Irrational: The Hidden Forces That Shape Our Decisions (Hardcover)

Dan Ariely is the guy you'd want at your dinner party. He's witty, smart and also very inclusive - sharing his passion for the way humans tick in a way that makes us feel great about the fact that, rational as we like to think we are, we make bad snap decisions, we cheat and we get ruled by our heart precisely when the facts are screaming "go the other way!" There's a lot in this writing which celebrates our human-ness. Why do we do this?
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. Dan provides excellent dinner-party insights, but they apply to our real world and explain why so many poor decisions are made - whether by customers or by the 'rational' business people who make million-dollar decisions.

- Recommended companion book: Nudge: Improving Decisions About Health, Wealth, and Happiness here one of the godfathers of behavioural economics discusses the way we can manage the "choice architecture" in our world.

24 of 25 people found the following review helpful:

4.0 out of 5 stars `Think how hard physics would be if particles could think.', July 25, 2008

By	J. Cameron-Smith "Expect the Unexpected" (ACT, Australia) - See all my reviews (TOP 500 REVIEWER)    (REAL NAME)

This review is from: Predictably Irrational: The Hidden Forces That Shape Our Decisions (Hardcover)

While it is comforting to know that so many decisions are made on from irrational bases, it is discomforting to be made quite so aware of it. No, I take that back: it is quite reassuring to know that while the principles of logic have their place, people are influenced by other factors.

Professor Ariely explains some of the factors that influence our decisionmaking: from the influence of emotions to the sometimes agonising choice between options; the pitfalls of procrastination and the lure of free offers. And why is it that we are often perfectly willing to do something for nothing, but not if payment is involved? From the discussion of the creation of a market for black pearls through discussion of types of dishonesty, Professor Ariely provides insights into human behaviour, in many cases backed by experiments that have tested his hypotheses.

This book is primarily focussed on behavioural economics, but I would argue that it would be of interest to a far wider group of readers. We are all decisionmakers and our decisions impact on others. I believe that many of us with a specific interest in public policy or management, in marketing, or in human behaviour more generally would find value in reading this book. While many of the concepts are profound, the subject matter is presented in a readable and entertaining way.

Jennifer Cameron-Smith

55 of 65 people found the following review helpful:

5.0 out of 5 stars Exploring why so much of what we do doesn't make sense, February 19, 2008

By	C. Bracken (New York, NY USA) - See all my reviews (REAL NAME)

This review is from: Predictably Irrational: The Hidden Forces That Shape Our Decisions (Hardcover)

I had the privilege of taking Dan's class at Duke last fall, where all of us got the chance to read preview copies of Predictably Irrational. Of course, not everyone will get the chance to hear Dan's excellent lectures, but the book does a great job of capturing his wit while providing a wealth of information about why human behavior can be as fallible as it is.

The joy in this material lies in the fact that every few pages you will find yourself smiling because you too have behaved in the irrational manner being described, and now that you look back on it, it's hard to remember why.

Why are we so excited about free stuff, even if we just throw it out later? Do we convince ourselves that an expensive meal will taste better than a cheap one? And why are we motivated to act on some humanitarian disasters, but not others? We all make irrational decisions at times, but this book provides the rare opportunity to reflect on those decisions and observe the behavioral patterns underneath.

If you enjoyed Freakonomics or any of Malcolm Gladwell's writings, you will also enjoy Predictably Irrational. The pace is quick, and nearly every page contains some nugget of surprising information that you'll want to tell your friends. It is more like Freakonomics than Blink or The Tipping Point in that it is structured around experiments, with each chapter covering the results of experiments in a specific area of irrational behavior, the implications for society, and what individuals might do to mitigate it.

It's a hard book to put down, and it's both entertaining and interesting from start to finish. For those who are curious about the world, this might be the ultimate beach or airline reading!