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Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions
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Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions

4.06 of 5 stars 4.06  ·  rating details  ·  46,536 ratings  ·  2,728 reviews
How do we think about money?
What caused bankers to lose sight of the economy?
What caused individuals to take on mortgages that were not within their means?
What irrational forces guided our decisions?
And how can we recover from an economic crisis?

In this revised and expanded edition of the New York Times and Wall Street Journal bestseller Predictably Irrational, Duke Uni
Hardcover, 400 pages
Published May 19th 2009 by Harper (first published February 19th 2007)
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It is important that you move this one up your list of books that you have to read. This is a particularly great book. My dear friend Graham recommended I read this book. He has recommended four books to me – and the only one I couldn’t finish was “My Cousin, My Gastroenterologist: A novel” by Mark Leyler – but he did recommend, “The Tetherballs of Bougainville” also by Leyler and that is still one of the most remarkable books I’ve ever read. I haven't written a review of that book, but where th ...more
Riku Sayuj
Jan 15, 2014 Riku Sayuj rated it 4 of 5 stars  ·  review of another edition
Recommends it for: Nishant Singh
Written in the tried-and-tested and bestselling tradition of the Malcolm Gladwell books and the Frekonomics clones, Dan Ariely's book too is an entertaining and counter-intuitive look at the world around us.

While I am getting more and more inured to this way of analysis of behavioral economics and physchology, these kinds of books are still hard to resist - that is because they do, no matter if they have now become an industry doling out similiar books by the dozens, still stretch our perspecti
Petra X
“I asked them why when they persecute men, for religion or colour it was seen by the world as oppression and when they persecute women, it was dismissed as tradition.” Emer Martin

This book is generally brilliant if you ignore the misogyny. It is a book written by a man about a man's world for men. The "Our' in the title does not include half the world.

The misogny, the putting down of fat women, ugly ones, old ones in this often otherwise insightful and percipient book is making me groan. The a
Yet another book I'm recommending to Goodreads staff. I will write up a long review when it's done, but I think this is worth chewing on:

According to the author of Predictably Irrational, we live simultaneous in the world of social norms and the world of market norms. Social norms are the exchanges and requests we make as part of personal connections. Market norms are the dollar-defined exchanges of dollars, wages, rents, prices. Here's where it gets interesting:

"In the lasts few decades, compan
This book was somewhat entertaining, but I can't really recommend it. The author does experiments with college students and beer, and extrapolates this into a world view. Most of his applications are anecdotal.
Here's an example on p. 215: "Iran is another example of a nation stricken by distrust. An Iranian student at MIT told me that business there lacks a platform of trust. Because of this, no one pays in advance, no one offers credit, and no one is willing to take risks. People must hire with
All classic economic theories are based on the assumption that consumers behave rationally, despite a considerable body of evidence to the contrary. It is only in the last 25 years that economists have begun to investigate the irrational side of consumer behavior. This field of investigation, which started with the pioneering work of Tversky and Kahneman, is usually referred to as behavioral economics.

Dan Ariely's book, "Predictably Irrational", offers a clear and comprehensive overview of thi
As a social psychologist, I have been trained to scoff at all "behavioral economists" because they often claim to have recently discovered that individuals do not always behave "rationally". Furthermore, they seem to brilliantly deduce that the only way to accurately predict how humans actually behave is to test behavior/decision making empirically. Of course, social psychologists have been doing this for over half a century without much public fanfare or guest spots on "MSNBC" or "CNN" every ti ...more
Ariely is a good writer whose book catches onto the _Freakonomics_ craze by taking a look at times when people make different decisions that typical "laissez faire" economic theories would expect. His book is a fairly easy read and does include some surprising results through social-science experimentation.

However, the text is not without its flaws. For instance, some of the breathlessly-reported "surprising" results aren't all that surprising or even controversial. For instance, the effect of
It's only about the middle of the year, but I think Dan Ariely's Predictably Irrational is a shoe-in for my favorite non-fiction book of 2008. When I was studying psychology one of my favorite topics was judgment and decision-making, which dealt in large part with the kinks in the human mind that could lead us to irrational behavior and decisions. Why are you likely to pay more for something if you are shown a large number completely unrelated to the price? Why do people who read words like "eld ...more
Here are just a few tidbit's I've learned:

-If you're ever going to a bar, trying to score a little bit of lovin', bring a friend who looks very similar to you - only a little uglier. That way you'll look like the ideal candidate, not just compared to your friend but to everyone else there.

-People are more likely to steal things once removed from cash than cash - ie. the Enron crew who stole millions of dollars from the retirement pensions of little old ladies, but would they ever have snatched 1

Explores the ability of a decoy option to determine outcomes.
(The economist subscription, travel to rome or france w/free breakfast)

Our first experience becomes our anchor point that future instances are pegged to and rebound towards like a rubber band.

Anchor points are hard to change, but new anchor points can be created wholecloth by giving people a new experience (starbucks vs. dunkin donuts)

The power of FREE! to disguise the actual cost we pay. The difference between 0 and 1 is
If I had to describe Predictably Irrational using two words they would be "thought provoking." The author is a professor who was injured in an explosion in Israel. He suffered severe burns and 5 years of therapy. He used this "down time" to ponder the why's and how come's of life. Using many experiments he (and others) tested the moral aptitude and other aspects of human behavior.

Each chapter has several experiments that pertain to a topic.

Chapter 1: The Truth about Relativity: Why Everything
There’s a generalization that people make that really gets me. It’s the idea that people naturally prefer or practice competition over collaboration or cooperation. Usually this is said as a way to dismiss addressing inequalities in America and to explain why capitalism is the only choice. Socialism or any hybrid economic system is doomed. Doomed! There are several reasons the acceptance of individual competition over striving for the group’s overall well-being seems to be a social norm rather t ...more
Jackie "the Librarian"
Another book that looks at human behavior, and how we don't behave logically even when we are sure we do. This follows the same well-worn path of Sway, Freakonomics, and Blink, and after having read those, there wasn't a lot new here.
Yes, humans see credit differently than cash. Ariely uses that premise to show how easy it is for companies such as Enron to steal vast sums without feeling the same as a mugger taking money from an old lady's purse, despite the end result being the same.
People are
A thought-provoking book on behavioral economics. Why do we make the choices that we do? What is our motivation? Why are seemingly irrational choices made over and over? The author's natural, readable style allows the laymen easy access to his academic research and the conclusions he draws on these topics. I especially liked the author's basic emprical approach. There isn't hardly a proposition or theory in the book that hasn't been tested via experiment.

I don't agree that everything the author
Besides being a prolific researcher, Ariely is a very lucid writer and he's good at explaining the logic behind his study designs and the broader implications of their results. I just find it amusing that MIT classifies him as a behavioral economist when in any other university he'd be a member of the psychology department (like the other academics whose work he cites).

On a somewhat tangential note, he lists the Ten Commandments in an appendix (after noting a study on how listing as many as you
Jun 18, 2011 K rated it 4 of 5 stars  ·  review of another edition
Recommends it for: Malcolm Gladwell and Freakonomics fans
As you can tell from the title, this book gives us a needed reality check when it comes to our belief that we are making rational decisions. Ariely writes engagingly and informatively about the various unwitting errors we make, from finding an option more attractive simply because of its proximity to a less attractive version of it (note to realtors: if you want to sell someone a particular house, show the prospective buyers a similar and slightly inferior one) to overvaluing something because w ...more
Jeanette  "Astute Crabbist"
"Sigmund Freud explained it this way. He said that as we grow up in society, we internalize the social virtues. This internalization leads to the development of the superego. In general, the superego is pleased when we comply with society's ethics, and unhappy when we don't. This is why we stop our car and four a.m. when we see a red light, even if we know that no one is around; and it is why we get a warm feeling when we return a lost wallet to its owner, even if our identity is never revealed. ...more
reads like an extended, slightly dumbed down USA today article.
Subrahmanyam Muramalla
Short review
Reading this book may not make us more rational in our behavior. The least it does is to help us identify our abilities and inabilities. In short our limitations in a given context. Gradually with the awareness of our limitations, we can be relatively more rational. Be a better judge for others, since it is relatively easy to judge others and eventually a better person ourselves.

Relativity is everywhere and in everything. The other day I heard my cousin's(say John) wife saying
Predictably Irrational is an entertaining and enlightening read.
The most important lesson I learned from Ariely is the high cost of free. The biggest example is "free shipping." Companies only offer you free shipping to convince you to spend at least the minimum amount to get it. Something to think about the next time I shop online.
Many of Ariely's lessons on psychology were already explain to me in previous books, but that isn't a strike against him. It just shows that maybe humans aren't as d
Sep 29, 2013 Carly rated it 3 of 5 stars  ·  review of another edition
Recommends it for: readers interested in fun, engaging stories from behavioral economics
Recommended to Carly by: my rational self
Because this book is shaped by Dr. Ariely's experiences and research, I'm afraid that any review I could write would end up being mainly about the author. Since this isn't an autobiography, such a review might be against the impressively subjective new policies of GoodReads:
The fear of breaking those shiny new rules is stifling my ability to write, so I'm afraid I can't contribute a review.
It's a great book, though. Give it a try.
Daniel Pink
Excellent insights into behavioral economics
An excellent treatise on the irrational aspects of human decision making as it pertains to supposedly rational economic theory. I think he’s has very good points and fun research that proves the point.

Ariely is an Israeli working at MIT. His field is behavioral psychology and I am excited by the prospect of more and more psychology being thought of at the level of the evolutionary organization of our brains and thoughts.

“When stripping away our preconceptions and our previous knowledge is not po
Satyaki Mitra
A brilliant book which offers some really fascinating insights into the workings of the human mind(especially with respect to making choices). The author from the beginning dispels most of the standard economic theories concerning human behaviour, which assumes humans to be rational creatures(homo economicus), and narrows down his focus on how irrationality plays an intrinsic role in shaping human behavior, the author narrates the findings from the various experiments that have been conducted by ...more
Predictably Irrational: The Hidden Forces That Shape Our Decisions by Dan Ariely

"Predictably Irrational" is a fascinating look at irrational human behavior. Professor of Psychology and Behavioral Economics at Duke University, Dan Ariely leads the readers on what makes us tick by presenting a wide range of scientific experiments, findings, and anecdotes that are amusing and enlightening. This insightful 384-page book is composed of the following fifteen chapters: 1. The Truth about Relativity Why
Predictably Irrational is written by MIT Behavior Economist Dan Ariely. The basis of his book is that while standard economic theory assumes that we all make rational decisions to maximize our personal utility in any number of situations, we don't always behave rationally and make the best decisions. Further, we not only act irrationally, but we behave irrationally in predictable patterns. In his work, Ariely collaborates with other researchers and designs social experiments to test the decision ...more
Sujeet Gholap
An eye opener! Full of insights and materials for you to brood over.

"Blink" vs "Predictably Irrational"
I was in awe of Blink: The Power of Thinking without Thinking. Well, take the sensationalism out of it, add more scientific rigor, and you get "Predictably Irrational". This isn't to say that the topics handled are the same.

Dan Ariely covers a pretty wide range of topics varying from the appeal of all things free to how 'good' and 'honest' people cheat when the cheating is just 'a little
Jennifer (JC-S)
‘Think how hard physics would be if particles could think.’

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
Very enjoyable book in that the concepts he discussed were simple, yet still surprising in most cases. The format of the book was also well handled since each chapter had a distinct topic/idea. That made it feel concise and somewhat light, since you didn't have to keep trying to remember what happened 3 chapters ago. The only reason I didn't give it full marks is due to some of the examples being a bit too oversimplified and could have used some more digging.
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  • The Invisible Gorilla: And Other Ways Our Intuitions Deceive Us
  • The Science of Fear: Why We Fear the Things We Shouldn't--and Put Ourselves in Greater Danger
  • Irrational Exuberance
  • The Art of Choosing
  • The Logic of Life: The Rational Economics of an Irrational World
  • Blind Spots: Why Smart People Do Dumb Things
  • The Psychology of Judgment and Decision Making
  • Where Good Ideas Come From: The Natural History of Innovation
  • Nudge: Improving Decisions About Health, Wealth, and Happiness
  • The Time Paradox: The New Psychology of Time That Will Change Your Life
  • Connected: The Surprising Power of Our Social Networks and How They Shape Our Lives
  • Strangers to Ourselves - Discovering the Adaptive Unconscious
  • Why We Make Mistakes: How We Look Without Seeing, Forget Things in Seconds, and Are All Pretty Sure We Are Way Above Average
  • Sleights of Mind: What the Neuroscience of Magic Reveals about Our Everyday Deceptions
  • Here Comes Everybody: The Power of Organizing Without Organizations
From Wikipedia:

Dan Ariely is the James B. Duke Professor of Behavioral Economics at Duke University. He also holds an appointment at the MIT Media Lab where he is the head of the eRationality research group. He was formerly the Alfred P. Sloan Professor of Behavioral Economics at MIT Sloan School of Management.

Dan Ariely grew up in Israel after birth in New York. He served in the Israeli army and
More about Dan Ariely...
The Upside of Irrationality: The Unexpected Benefits of Defying Logic at Work and at Home The Honest Truth About Dishonesty: How We Lie to Everyone--Especially Ourselves The Best American Science and Nature Writing 2012 A Taste of Irrationality: Sample chapters from Predictably Irrational and Upside of Irrationality The Irrational Bundle

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“But suppose we are nothing more than the sum of our first, naive, random behaviors. What then?” 35 likes
“individuals are honest only to the extent that suits them (including their desire to please others)” 29 likes
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