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Rational Choice in an Uncertain World: The Psychology of Judgement and Decision Making 1st Edition
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Top Customer Reviews
The book effectively teaches you how to go about making well-thought-out decisions. The text in itself is easy to read and comprehend. There are also many apt examples, both abstract and from everyday life. This combination ensures a successful reading of this book.
While I would have probably never read this book if not for the class I took, I'm glad I did and would recommend this people from all walks of life. Being able to make a good, well-thought-out, rational decision is the best skill one can have.
Hastie and Dawes present results of scientific psychological research, using language that is easy for the ordinary person to understand. Their examples come from everyday life and news stories: Chernobyl, the "hot hand" theory of basketball, mammography.
I would also recommend this book to any students of psychology, including those entering graduate school in social psychology, marketing or management. Hastie and Dawes demonstrate that academic studies needn't be dry, but in fact yield fascinating conclusions that are widely relevant. At the same time, they show the way researchers think and introduce the notion of probability in a way that makes readers want to learn more.
I have used this as a graduate course textbook (and I was taught from it). While the book is partially directed at advanced undergrads, my experience is that the content is almost entirely new to most grad students in psychology, marketing, organizational behavior, strategy, finance, economics, etc. This is a book I re-read every two years.
This would not be a good choice for first exposure to rationality, behavioral economics, and decision theory all at once. If you have some exposure to one of those and would like to expand your knowledge of the field, this is the best book out there. Kahneman's Thinking, Fast and Slow got me interested. This book satisfied. Will definitely reread again and again.