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The Upside of Irrationality

The Upside of Irrationality by Dan Ariely

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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.

Our Cocktail Party Statements:

Aaron: Being crazy is all bad

Phil: Don’t bother yourself with this book, just read Predictibly Irrational

Karin: How our economic behaviors are influenced by irrational forces and social norms

 

Our Cocktail Party Index:

What’s this? Explanation of the CPI.