Peeds's Reviews > Predictably Irrational: The Hidden Forces That Shape Our Decisions

Predictably Irrational by Dan Ariely
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U_50x66
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Feb 22, 09

bookshelves: reviewed
Read in July, 2008, read count: 2

This is a very absorbing book about Behavioral Economics by Dan Ariely that makes you wonder if you really think rationally when making choices. It is about how “decoys” are used by merchants to confuse you about your choices, and how you would typically react to them. This book gives you numerous examples that show how we can be influenced to make irrational decisions in making choices such as buying magazine subscription, a DVD player, or a house. There are many experiments that the author describes which clearly illustrate how the presence of some choices or information can act like a decoy, blur our judgment, and steer us towards making sub-optimal choices. While traditional economics is based on the premise that people make rational choices, and that the market forces are the result of those, behavioral economics concerns itself in the study of predictably irrational choices that people typically make, and what drives them to do so.

Read my review at:
http://blog.technicalley.com/book-rev...
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