Product Details

• Amazon Sales Rank: #139 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

Economics with a little twist from the Freakonomics
Dan Ariely has written a very engaging look into experiments he has conducted over his tenure at MIT. He starts with his medical history of his third degree burns over his body. Ariely does this to make the reader aware of his inspiration to "discover what people really like" in the world. His first example is removing the cloth from his wounds in a fast or slow motion. The nurses are sure the fast rip with a quick flash of pain is the best way; however, this makes Ariely begin to wonder the truth behind this common assumption.

The book flows in and out of his history and there did not seem to be in chronological order. The reader could skip around the chapters to their own delight. Ariely has made the book approachable for anyone with an affinity for experiments and the "why" behind the decisions. This approach has been made popular by "Freakonomics", "What Sticks", "Economic Naturalist", and many other books along the same line. I enjoyed Ariely's book the most of the new economist book series.

Chapter Six, Nine, Eleven, and Twelve were my favorite chapters out of the thirteen in the book. Procrastination, Expectations, and Honesty are all prominently featured in these chapters. I did not feel I could better understand all the subjects he discussed in the other chapters any more than before for various reasons like I have read it, heard it, or not interested were the main reasons.

I believe people should give Ariely's book a look just to see where some of his antics and experiments are different from the aforementioned books. It is approachable and a joyful read that is over before it begins. Ariely has done something to set himself apart from the economist books before him and also borrows some of their insights for his book. If anything check the book out from the library to see his experiments in action and know why human beings are predictably irrational.

Great read! Economics made easy for the layperson
This is a great read written by a revolutionary economist with the gift of explaining complicated/complex economics to laypeople. A great job, and highly recommended. It will also make you reflect on how you make decisions and whether they are rational decisions.

A must-read for students of economics and the social sciences
I have already recommended this book to my upper-level students in international relations courses. There is a longstanding debate in the field of IR (and throughout the social sciences) about whether it is more useful to take the "rational choice" approach of economics that attempts to predict behavior using formal mathematical models such as game theory and expected utility, or to use the evidence-based scientific approach of sociology and psychology that carefully examines actual behavior in an effort to figure out why people (and nations) behave the way they do. Each approach has its strengths and weaknesses. Neither is perfect. It would be wonderful if we could combine the best of both worlds: the simplicity and predictive power of economics with the rigorous empirical grounding of the scientific method. The emerging field of "behavioral economics" is an attempt to do just that. It takes the basic principles of economic modeling and adjusts them based on scientific discoveries about human behavior. Ariely's book is a great non-technical introduction to behavioral economics. Written for the lay-reader with no background in economics or psychology, this book explains, in simple, easy-to-understand terms, why people don't behave rationally, as economists like to assume they do. It's really a book about decision making. It asks the question of how people make decisions, and why they make the (often irrational) decisions they make. This is a fun book that touches on everything from marketing to finance to international relations to health care to sex. (Yes, believe it or not, people even make irrational decisions about sex; and sexual desire can interfere with our ability to think rationally.) If you've ever wondered why people often make irrational decisions, this is the book for you. And I'd especially recommend this book for all students of economics as a prophylactic against the field's rather irrational assumption that rational choice can explain everything.