Saturday, December 17, 2011

Book Report: Predictably Irrational by Dan Ariely

It is a common assumption that human beings behave in a predictable manner except when doing irrational things. But as Dan Ariely proved, through simple but informative experiments, irrational behavior can also be predicted. Most of the time, even smart people make irrational decisions (especially when being offered freebies) and succumb to awry logic (getting a pencil from the office is acceptable but getting money equivalent to the price of a pencil is not). 

The book is thought-provoking and opened my eyes to how I make decisions in my life especially when it comes to spending my money and time. One of my dreams is to study behavior economics and this book is a good reference and a springboard for other studies and experiments. Dan Ariely also has a blog where you can also participate in some of his experiments and share your thoughts on irrationality.

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