Dan Ariely: Predictably Irrational : The Hidden Forces That Shape Our Decisions

Classic economics is based on the expectation that people behave rationally and with their best interests in mind. From a common sense approach this seems like an odd expectation, as people generally don't seem to act rationally. Professor Ariely agrees and continues to say that the irrationality of people is actually highly predictable.

This book goes through plenty of examples, demonstrated by experiments that prove the point. Ariely shows how free is more attractive than very cheap, how more expensive medicine works better than a cheap pill, how things you own seem a lot more attractive to you and so on - the predictable irrationality becomes clear.

The result is an interesting book that offers lots of entertaining insights to human psychology. If you're trying to sell something, this book will give you tools to push your customers to paying higher prices for the products you want them to buy. Then again, if those customers read this book, they'll learn to see through their irrationality and make at least slightly more rational decisions.

Behavioral economics - as Ariely's field is called - is rather interesting, and this was an educational and interesting book. [ Predictably Irrational: The Hidden Forces That Shape Our Decisions at Amazon.co.uk ] [ Predictably Irrational at Amazon.co.uk ]