Predictably Irrational: The Hidden Forces That Shape Our Decisions

✍ Scribed by Dan Ariely

• Publisher: HarperCollins
• Year: 2008
• Tongue: English
• Leaves: 300
• Edition: 1
• Category: Library

✦ Synopsis

Why do smart people make irrational decisions every day? The answers will surprise you. Predictably Irrational is an intriguing, witty and utterly original look at why we all make illogical decisions. Why can a 50p aspirin do what a 5p aspirin can't? If an item is "free" it must be a bargain, right? Why is everything relative, even when it shouldn't be? How do our expectations influence our actual opinions and decisions? In this astounding book, behavioural economist Dan Ariely cuts to the heart of our strange behaviour, demonstrating how irrationality often supplants rational thought and that the reason for this is embedded in the very structure of our minds. Predicatably Irrational brilliantly blends everyday experiences with a series of illuminating and often surprising experiments, that will change your understanding of human behaviour. And, by recognising these patterns, Ariely shows that we can make better decisions in business, in matters of collective welfare, and in our everyday lives from drinking coffee to losing weight, buying a car to choosing a romantic partner.

✦ Table of Contents

Cover......Page 1
Title page......Page 0
Copyright page......Page 3
Contents......Page 4
Introduction: How an Injury Led Me to Irrationality and to the Research Described Here......Page 7
1 The Truth about Relativity: Why Everything Is Relative—Even When It Shouldn't Be [1]......Page 21
2 The Fallacy of Supply and Demand: Why the Price of Pearls—and Everything Else—Is Up in the Air [23]......Page 43
3 The Cost of Zero Cost: Why We Often Pay Too Much When We Pay Nothing [49]......Page 69
Appendix: Chapter 3......Page 84
4 The Cost of Social Norms: Why We Are Happy to Do Things, but Not When We Are Paid to Do Them [67]......Page 87
5 The Influence of Arousal: Why Hot Is Much Hotter Than We Realize [89]......Page 109
Safe Sex......Page 120
Safe Driving......Page 122
Better Life Decisions......Page 123
Table 1 – Rate the Attractiveness of Different Activities......Page 126
Table 2 – Rate the Likelihood of Engaging in immoral Behaviors Like Date Rape (A Strict Order of Severity Is Not Implied)......Page 127
Table 3 – Rate Your Tendency to Use, and Outcomes of Not Using Birth Control......Page 128
6 The Problem of Procrastination and Self-Control: Why We Can't Make Ourselves Do What We Want to Do [109]......Page 129
Health Care......Page 137
Savings......Page 142
7 The High Price of Ownership: Why We Overvalue What We Have [127]......Page 147
8 Keeping Doors Open: Why Options Distract Us from Our Main Objective [139]......Page 159
9 The Effect of Expectations: Why the Mind Gets What It Expects [155]......Page 175
10 The Power of Price: Why a 50-Cent Aspirin Can Do What a Penny Aspirin Can't [173]......Page 193
11 The Context of Our Character, Part I: Why We Are Dishonest, and What We Can Do about It [195]......Page 215
Appendix: Chapter 11 – The Ten Commandments......Page 236
12 The Context of Our Character, Part II: Why Dealing with Cash Makes Us More Honest [217]......Page 237
13 Beer and Free Lunches: What Is Behavioral Economics, and Where Are the Free Lunches? [231]......Page 251
Thanks [245]......Page 265
Marco Bertini......Page 269
James Heyman......Page 270
George Loewenstein......Page 271
Yesim Orhun......Page 272
Jiwoong Shin......Page 273
Klaus Wertenbroch......Page 274
Notes [255]......Page 275
Introduction: How an Injury Led Me to Irrationality and to the Research Described Here......Page 279
2 The Fallacy of Supply and Demand: Why the Price of Pearls—and Everything Else—Is Up in the Air......Page 280
3 The Cost of Zero Cost: Why We Often Pay Too Much When We Pay Nothing......Page 281
5 The Influence of Arousal: Why Hot Is Much Hotter Than We Realize......Page 282
7 The High Price of Ownership: Why We Overvalue What We Have......Page 283
9 The Effect of Expectations: Why the Mind Gets What It Expects......Page 284
10 The Power of Price: Why a 50-Cent Aspirin Can Do What a Penny Aspirin Can't......Page 285
12 The Context of Our Character, Part II: Why Dealing with Cash Makes Us More Honest......Page 286
13 Beer and Free Lunches: What Is Behavioral Economics, and Where Are the Free Lunches?......Page 287
A......Page 289
C......Page 290
D......Page 291
E......Page 292
G......Page 293
I......Page 294
M......Page 295
P......Page 296
R......Page 297
S......Page 298
T......Page 299
Z......Page 300