Predictably Irrational: The Hidden Forces That Shape Our Decisions - A Review

An excellent read. Yet another economics-type book that I'm picking up lately when I would not go near one years ago in college, even when it was required reading.

Easily readable, the experiments themselves were entertaining. The one particularly illuminating was the 'hot' and 'cold' experiments, results of which were alarming.

While irrational behaviour could, one might say, be expected in matters involving relationships or matters of the heart, what is disturbing to me, as a marketer, is how it is being exploited in commerce.

Pricing strategies, advertising campaigns et al, all serve to 'persuade' one to behave irrationally, all the while convinced that such action is rational.

Right now, the only way I can think of to stop behaving in a predictably irrational manner, is to ponder a while longer at moments of decision-making, especially those moments when one is going to part with one's money on unnecessary purchases (a weakness of mine, I'm afraid).

But in this day and age, when time is in short supply, and snap decisions are becoming the norm, one can't help but to go at it at a blink's notice. If anything, all of Ariely's participants have had very little time to truly ponder their actions.