Predictably Irrational by Dan Ariely

Book Summary:

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.

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.

Listen to the podcast now:

Our Cocktail Party Statements:

Aaron: People are crazy and easily manipulated

Phil: Rethinking the way we think and the way we come up with decisions

Karin: Real progress as well as real risk comes from taking risk and trying different things