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Predictably Irrational: The Hidden Forces that Shape Our Decisions

Predictably Irrational: The Hidden Forces that Shape Our Decisions

Product Specifications
Language English
Binding Paperback
Publisher Harpercollins
Why do our headaches persist after taking a cheap painkiller but disappear when we take a more expensive one? Why does recalling the Ten Commandments reduce our tendency to he, even when we couldn't possibly be caught? Why do we splurge 00 an expensive meal but cut out vouchers to save twenty-five pence on a tin of soup? When it comes 10 making decisions in our lives, we think we're in control. We think we're making smart, rational choices. But are we? From paying for coffee to losing weight, and buying a car to choosing a romantic partner, ArieIy explains how to break through these systematic patterns of thought to make better, more financially sound, decisions. Predictably Irrational is not simply a fascinating read; it has the power to change the way we interact with the world - one small decision at a time. In the current economic crisis it is an invaluable 1001 that no person should be without. 'Wildly original' George Akerlof, Nobel laureate In Economics, 2001.
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  1. 1 of 1 people found this review helpful
     Just explains how we behave - Irrational but still Predictable 24 March, 2014 On
    This is one of the books that has helped me understand how I actually think. If you are in for understanding human behavior and psychology, then this is the book. It gives an original one of its kind experience of the human thinking.

    The brief snapshot of the author in the beginning definitely motivates a person to do anything in life and believe that anything is possible. The author has conducted live experiments on various subjects along with his colleagues. The outcome has been this book wherein human behavior is explained.

    One of the simplest examples of the book is mentioned as follows. Suppose you go to buy a pen which costs say Rs.20 (don't recollect the exact figures). Down the lane on walking for 10 minutes, you get the exactly same pen for Rs.10. The human mind believes on saving and the person thus walks down 10 minutes to buy the pen at Rs.10. Now suppose a shirt costs Rs.500 at a shop. Similar to the first case, there is a store down the lane on 10 minutes walking where you get the shirt for Rs.490. Will you go walk 10 minutes to buy the shirt at reduced price and save Rs.10?
    The experiment found that most of the people in first case would and in second case would not. The irrationality is that in both cases for walking 10 minutes you could have saved Rs.10. However, you think in terms of percentage and not absolute which is why you only walk down the lane in first case.

    If you like the thinking above, then the book is definitely a read for you. It consists of numerous such examples explaining our repeated irrational behavior.

    The book has helped me a lot in changing the way I think. It is one of the highly recommended books to understand human psychology. Do read it to start behaving in a rational way.
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