Book Review: Predictably Irrational by Dan Ariely

Book Review

of

Predictably Irrational

Predictably Irrational, [Dan Ariely (2008); HarperCollins Publishers, USA]

Introduction

Dan Ariely is a Behavioural Economist, and has written this book fantabulously. He has added humour to talk about human emotions. He takes a lot of interest and finds it interesting figuring out of what really influences Human behaviour and decisions.

Through out the book, it will be very interesting to catch up on everyday life situations and the hidden forces that influence our decision – making process.

Thesis of the Book

It has been proven in Economics that People who think Rationally take sensible and logical decisions, but the fellow counterparts who think Irrationally tend to think just the Opposite.

Why does this happen? Why do people tend to think Irrationally? May be it is just Human Nature that influences our thinking process, but We can definately try to think Rationally.

The Book starts off with the Truth about Reliability, which means the human mind uses comparative thinking to make decisions. For an example, if there are two choices like A Tour to Italy, Second A tour to Paris. Now a Rational person will decide based on his likes and dislikes about a particular place, While an irrational person will take several other factors into consideration to decide such as price, number of days, sight seeing etc. The human mind is constantly comparing between two objects, and selects the best one which fulfills his needs the most. This is just Human Nature.

Secondly, we understand about the Fallacy between Demand and Supply. Here the author has given an example of Starbucks, A Cappuccinno costs $5 at ...

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... lose weight, he will not take the trouble of exercising until and unless someone constantly nags behind him.

I believe that if once People become independent and take their own decisions rationally, it would be a much better situation for that person to deal with his life. They would stop repeating the common mistakes that they happen to commit in their everyday lives. I believe that people are not born irrational, but the environmental influences forces them to think irrationally.

I believe this book is worthy to be read by everyone. This book sets a perfect example of how people dig their own graves by thinking irrationally. The Author and even I believe thinking rationally, practically and logically rather than behaving irrationally.

I will recommend this book 100 per cent to all, and ensure that you read it. Be Responsible for your actions.