Summary And Analysis Of Predictably Irrational The Hidden Forces That Shape Our Decisions

So much to read, so little time? This brief overview of Predictably Irrational tells you what you need to know—before or after you read Dan Ariely’s book. Crafted and edited with care, Worth Books set the standard for quality and give you the tools you need to be a well-informed reader. This short summary and analysis of Predictably Irrational includes: Historical context Chapter-by-chapter overviews Important quotes Fascinating trivia Glossary of terms Supporting material to enhance your understanding of the original work About Predictably Irrational: The Hidden Forces That Shape Our Decisions by Dan Ariely: Predictably Irrational, the New York Times bestseller by Duke psychology and behavioral economics professor Dan Ariely, challenges the idea that we always make perfectly rational decisions. Featuring examples from daily life alongside results of his fascinating experiments, Ariely explains how emotional, psychological, and social factors can lead to irrational behavior—which can be damaging to ourselves and others. From the coffee we drink or the medicine we take, to the companies we support and the relationships we value, we make irrational decisions every day that can cost us in the long run. Ariely reveals not only when and how we tend to act irrationally, but why, so we can learn from our mistakes and design ways to facilitate smarter decision-making. The summary and analysis in this ebook are intended to complement your reading experience and bring you closer to a great work of nonfiction.

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.

ABOUT THE BOOK I've tried to shed some light on a few of the biases that plague our decisions across many different domains, from the workplace to personal happiness.” The Upside of Irrationality is Dan Ariely’s follow up book to his bestselling, Predictably Irrational: The Hidden Forces That Shape Our Decisions. His first book explored the downside of our inherent biases and irrational behavior. The Upside of Irrationality builds on the tenets of the first book, primarily how our reasoning abilities are often usurped by illogical forces. In The Upside of Irrationality, Ariely allows us to be a fly on the wall for his very interesting, hands-on experiments, which reveal how our behaviors and decisions are influenced, leading us to act in irrational ways. The positive spin is Ariely’s belief that if we learn how we really operate, we can then create business models, policies, and personal relationships that are based on that knowledge. The social experiments are well-explained, easily understood, and often reveal surprising truths about how we function. Seriously, we do some things that defy logic! But he shows why we do so; that our behaviors are based on a soup of varying factors. Dan Ariely makes the experiments the “hero” of the book, in that they are a huge focal point of each chapter. The experiments instruct and inform but are never dry, or too “academic” to understand. Nor are they ever boring. Overall, the book provides commentary on irrationality yet remains hopeful. Perhaps someday, our actions, decisions, and business models will be based on an understanding of how we operate rather than ideas that are implemented without any verifiable data. Cases in point: large bonuses and online dating. Both are examples of irrational models that don’t jive with the research that shows what truly motivates a person to work hard on the job nor with how they make a complicated decision, such as who they choose as a mate. Ariely also goes much deeper into his personal experience from a devastating burn accident in his late teens, and how that trauma gave him unique insight to human behavior. Essentially, it was that accident and his observations about pain management and his own behaviors as a recovering patient that led to his deep interest in the subject of behavioral science. There is an upside to being irrational and any rational person would have to agree with Ariely’s conclusion that understanding how we operate, and devising strategies based on that knowledge, will vastly improve our professional and personal lives. EXCERPT FROM THE BOOK “From a rational perspective, we should make only decisions that are in our best interest (“should” is the operative word here). We should be able to discern among all the options facing us and accurately compute their value-not just in the short term but also in the long term-and choose the option that maximizes our best interests.” Yet, we don’t. That’s exactly what makes The Upside of Irrationality such an entertaining read. In a gentle but no-nonsense tone, Mr. Ariely shows, citing his own clever, controlled research experiments, just how irrational humans can be. And most surprising, that it’s not always a bad thing to be that way. From online dating to revenge, from how hard we work at our jobs to how we choose our charitable donations, we learn how our choices and DECISIONS are often influenced by many factors. Ariely capitalizes ‘decisions’ to emphasize the emotional weight imbued in many of our decisions. We do not make decisions as a computer would, taking into account the facts and the most rational course of action. ...buy the book to continue reading!

Dan Ariely, the New York Times bestselling author of Predictably Irrational, and illustrator Matt R. Trower present a playful graphic novel guide to better decision-making, based on the author’s groundbreaking research in behavioral economics, neuroscience, and psychology. The internationally renowned author Dan Ariely is known for his incisive investigations into the messy business of decision-making. Now, in Amazing Decisions, his unique perspective—informed by behavioral economics, neuroscience, and psychology—comes alive in the graphic form. The illustrator Matt R. Trower’s playful and expressive artwork captures the lessons of Ariely’s groundbreaking research as they explore the essential question: How can we make better decisions? Amazing Decisions follows the narrator, Adam, as he faces the daily barrage of choices and deliberations. He juggles two overlapping—and often contradictory—sets of norms: social norms and market norms. These norms inform our thinking in ways we often don’t notice, just as Adam is shadowed by the “market fairy” and the “social fairy,” each compelling him to act in certain ways. Good decision-making, Ariely argues, requires us to identify and evaluate the forces at play under different circumstances, leading to an optimal outcome. Amazing Decisions is a fascinating and entertaining guide to developing skills that will prove invaluable in personal and professional life.

Bestselling author Dan Ariely reveals fascinating new insights into motivation—showing that the subject is far more complex than we ever imagined. Every day we work hard to motivate ourselves, the people we live with, the people who work for and do business with us. In this way, much of what we do can be defined as being “motivators.” From the boardroom to the living room, our role as motivators is complex, and the more we try to motivate partners and children, friends and coworkers, the clearer it becomes that the story of motivation is far more intricate and fascinating than we’ve assumed. Payoff investigates the true nature of motivation, our partial blindness to the way it works, and how we can bridge this gap. With studies that range from Intel to a kindergarten classroom, Ariely digs deep to find the root of motivation—how it works and how we can use this knowledge to approach important choices in our own lives. Along the way, he explores intriguing questions such as: Can giving employees bonuses harm productivity? Why is trust so crucial for successful motivation? What are our misconceptions about how to value our work? How does your sense of your mortality impact your motivation?

“Dan Ariely is a genius at understanding human behavior: no economist does a better job of uncovering and explaining the hidden reasons for the weird ways we act.” — James Surowiecki, author of The Wisdom of Crowds Behavioral economist and New York Times bestselling author of Predictably Irrational Dan Ariely returns to offer a much-needed take on the irrational decisions that influence our dating lives, our workplace experiences, and our temptation to cheat in any and all areas. Fans of Freakonomics, Survival of the Sickest, and Malcolm Gladwell’s Blink and The Tipping Point will find many thought-provoking insights in The Upside of Irrationality.

This is a summary of behavioral economist and New York Times bestselling author Dan Ariely's Predictably Irrational: The Hidden Forces That Shape Our Decisions; offering a much-needed take on the irrational decisions that led to our current economic crisis. Why do our headaches persist after we take a one-cent aspirin but disappear when we take a fifty-cent aspirin? Why do we splurge on a lavish meal but cut coupons to save twenty-five cents on a can of soup? When it comes to making decisions in our lives, we think we're making smart, rational choices. But are we? In this newly revised and expanded edition of the groundbreaking New York Times bestseller, Dan Ariely refutes the common assumption that we behave in fundamentally rational ways. From drinking coffee to losing weight, from buying a car to choosing a romantic partner, we consistently overpay, underestimate, and procrastinate. Yet these misguided behaviors are neither random nor senseless. They're systematic and predictable-making us predictably irrational. Available in a variety of formats, this summary is aimed for those who want to capture the gist of the book but don't have the current time to devour all 384 pages. This is a summary that is not intended to be used without reference to the original book.

How did we get to where we are? John Cassidy shows that the roots of our most recent financial failure lie not with individuals, but with an idea - the idea that markets are inherently rational. He gives us the big picture behind the financial headlines, tracing the rise and fall of free market ideology from Adam Smith to Milton Friedman and Alan Greenspan. Full of wit, sense and, above all, a deeper understanding, How Markets Fail argues for the end of 'utopian' economics, and the beginning of a pragmatic, reality-based way of thinking. A very good history of economic thought Economist How Markets Fail offers a brilliant intellectual framework . . . fine work New York Times An essential, grittily intellectual, yet compelling guide to the financial debacle of 2009 Geordie Greig, Evening Standard A powerful argument . . . Cassidy makes a compelling case that a return to hands-off economics would be a disaster BusinessWeek This book is a well constructed, thoughtful and cogent account of how capitalism evolved to its current form Telegraph Books of the Year recommendation John Cassidy ... describe[s] that mix of insight and madness that brought the world's system to its knees FT, Book of the Year recommendation Anyone who enjoys a good read can safely embark on this tour with Cassidy as their guide . . . Like his colleague Malcolm Gladwell [at the New Yorker], Cassidy is able to lead us with beguiling lucidity through unfamiliar territory New Statesman John Cassidy has covered economics and finance at The New Yorker magazine since 1995, writing on topics ranging from Alan Greenspan to the Iraqi oil industry and English journalism. He is also now a Contributing Editor at Portfolio where he writes the monthly Economics column. Two of his articles have been nominated for National Magazine Awards: an essay on Karl Marx, which appeared in October, 1997, and an account of the death of the British weapons scientist David Kelly, which was published in December, 2003. He has previously written for Sunday Times in as well as the New York Post, where he edited the Business section and then served as the deputy editor. In 2002, Cassidy published his first book, Dot.Con. He lives in New York.