Product Details

• Amazon Sales Rank: #115 in Books
• Published on: 2008-02-19
• Released on: 2008-02-19
• Format: Roughcut
• Number of items: 1
• Binding: Hardcover
• 304 pages

From Publishers Weekly
Irrational behavior is a part of human nature, but as MIT professor Ariely has discovered in 20 years of researching behavioral economics, people tend to behave irrationally in a predictable fashion. Drawing on psychology and economics, behavioral economics can show us why cautious people make poor decisions about sex when aroused, why patients get greater relief from a more expensive drug over its cheaper counterpart and why honest people may steal office supplies or communal food, but not money. According to Ariely, our understanding of economics, now based on the assumption of a rational subject, should, in fact, be based on our systematic, unsurprising irrationality. Ariely argues that greater understanding of previously ignored or misunderstood forces (emotions, relativity and social norms) that influence our economic behavior brings a variety of opportunities for reexamining individual motivation and consumer choice, as well as economic and educational policy. Ariely's intelligent, exuberant style and thought-provoking arguments make for a fascinating, eye-opening read. (Feb.)
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New York Times Book Review
"Sly and lucid. . . . PREDICTABLY IRRATIONAL is a far more revolutionary book than its unthreatening manner lets on."

New York Times Book Review
"Sly and lucid. . . . PREDICTABLY IRRATIONAL is a far more revolutionary book than its unthreatening manner lets on."

Customer Reviews

`Think how hard physics would be if particles could think.'
While it is comforting to know that so many decisions are made on from irrational bases, it is discomforting to be made quite so aware of it. No, I take that back: it is quite reassuring to know that while the principles of logic have their place, people are influenced by other factors.

Professor Ariely explains some of the factors that influence our decisionmaking: from the influence of emotions to the sometimes agonising choice between options; the pitfalls of procrastination and the lure of free offers. And why is it that we are often perfectly willing to do something for nothing, but not if payment is involved? From the discussion of the creation of a market for black pearls through discussion of types of dishonesty, Professor Ariely provides insights into human behaviour, in many cases backed by experiments that have tested his hypotheses.

This book is primarily focussed on behavioural economics, but I would argue that it would be of interest to a far wider group of readers. We are all decisionmakers and our decisions impact on others. I believe that many of us with a specific interest in public policy or management, in marketing, or in human behaviour more generally would find value in reading this book. While many of the concepts are profound, the subject matter is presented in a readable and entertaining way.

Jennifer Cameron-Smith

Fun, quick read; but not thought out completely
In the spirit of Freakonomics, you'll find Predictably Irrational to be a fun, interesting look at behavioral economics. Why do we do some of the things we do? It has some interesting data and let's you think through some of your own actions. The only problem with the book is that the author makes an attempt at the end of some of the sections to provide his own answers. That is when it can be a little scary. For example, he doesn't quite understand the basic economics of Maxi-Min theory, and thinks it is irrational to want a free $10 gift certificate instead of paying $7 for a $20 gift certificate. Ummm, if you wind up not using the gift certificate, you are $7 better off doing what he would think is irrational.

More troubling to me was his statist view (for those unfamiliar with what Statism is -- it is the desire for massive government similar to what Democrats and Republicans desire -- it is the opposite of Libertarianism). The author argues that since people are irrational, government should take over some decisions for them (as if government wasn't just a collective, larger irrationality). To the author, it is better that we all suffer the same dismal fate instead of some people being better off. As an American (in the sense that I prefer liberty and freedom), I find his statist/socialist leanings a bit overbearing and unnecessary in this book.

don't waste your money
this book has some interesting theories but they are overshadowed by the left leaning social/political commentary. I thought I bought a book on marketing experiments and not to be lectured on how government is the best answer to societies problems because people are too stupid. This man has obviously not lived in the real world only the academic world. Too bad because he has an inquisitive mind but it has been muddled by his environment.