Book and Movie Reports by Ed

Book report: Predictably Irrational, by Dan Ariely Read this book! Oh, you want reasons? Well, there’s the interesting thing. So much of our world is based on reasons, reason, and rationality. We depend on people to vote, behave, drive, buy, and invest in rational ways. Economics is based on people behaving rationally. Yet, we know that we – or, at least, other people – are not rational. What behavioral economist Dan Ariely and others have discovered is that, not only are people irrational, but they are predictably irrational. That is, their irrationality follows regular patterns that can be measured, understood, mastered – and manipulated by those in the know. Here’s an example. Suppose a real estate agent shows you two houses, a colonial-style and a ranch-style. You find it hard to decide between them, because it’s difficult to compare two such different styles of houses. Then, the agent shows you another house, also a colonial, but not as nice as the first one. Now, you can make up