Predictably Irrational; The Hidden Forces That Shape Our Decisions

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 about sex when aroused, why patients get greater relief from a more expensive drug over its cheaper counterpart and why honest people may steal office supplies or communal food, but not money. According to Ariely, our understanding of economics, now based on the assumption of a rational subject, should, in fact, be based on our systematic, unsurprising irrationality. 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.

"A marvelous book that is both thought-provoking and highly entertaining, ranging from the power of placebos to the pleasures of Pepsi. Ariely unmasks the subtle but powerful tricks that our minds play on us, and shows us how we can prevent being fooled."

Jerome Groopman, Recanati Chair of Medicine, Harvard Medical School,and New York Times bestselling author of How Doctors Think

"Dan Ariely is a genius at understanding human behavior: no economist does a better job of uncovering and explaining the hidden reasons for the weird ways we act, in the marketplace and out. Predictably Irrational will reshape the way you see the world, and yourself, for good."

James Surowiecki, author of The Wisdom of Crowds

"Filled with clever experiments, engaging ideas, and delightful anecdotes. Dan Ariely is a wise and amusing guide to the foibles, errors, and bloopers of everyday decision making."

Daniel Gilbert, Professor of Psychology, Harvard University, and New York Times bestselling author of Stumbling on Happiness

"This is going to be the most influential, talked-about book in years. It is so full of dazzling insights--and so engaging--that once I started reading, I couldn’t put it down."

Daniel McFadden, 2000 Nobel Laureate in Economics, Morris Cox Professor of Economics, University of California at Berkeley

Dan Ariely is the Alfred P. Sloan Professor of Behavioral Economics at MIT, where he holds a joint appointment between MIT's Media Laboratory and the Sloan School of Management. He is also a researcher at the Federal Reserve Bank of Boston and a visiting professor at Duke University. Ariely wrote this book while he was a fellow at the Institute for Advance Study at Princeton. His work has been featured in leading scholarly journals and a variety of popular media outlets, including the New York Times, the Wall Street Journal, theWashington Post, the Boston Globe, Scientific American, and Science. Ariely has appeared on CNN and National Public Radio. He divides his time between Durham, North Carolina, Cambridge, Massachusetts, and the rest of the world.

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