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My name is Maria and today we’re talking about Predictably Irrational by Dan Ariely.
This book is essentially a compilation and analysis of some of Ariely’s experiments in the field of behavioral economics.
I have two main points I’d like to share with you, so let’s get started!
And specifically often times we’re presented with various options but we don’t realize that one of those options is usually a decoy, not actually one that we’re meant to choose but rather to influence us to choose another option.
So if we have three options, one of those is often a decoy that is positioned in a way to justify the value of the other two options.
So it’s a very interesting field that he talks about and the various experiments that he’s conducted and explains, talk about how relativity influences our lives both financially and also in terms of our personal satisfaction.
Now we’ve all seen those amazing deals where they offer you something for free if you buy a certain product.
And these free offers work.
Ariely talks about how by offering something for free or something that we perceive to be free it takes away the possibility of any downside.
Usually, when we’re in a transaction, we pay money of some sort and that’s the downside.
And in return we get a product or a service, and that’s the upside.
However, when we’re given something for free, there’s no downside or there’s no perceived downside, only upside.
So that enhances the perceived value on our behalf.
Now, let’s go over some of the positives and who I think should be reading this book.
One thing I love about this book is that Ariely explains all the experiments very clearly, they’re very easy to understand and he takes you through the process step-by-step.
But more importantly, he also provides reasoning and discusses the impact that his research has on us and society.
So it’s more than just a compilation of experiments, it’s also a discussion of the impact that it has and how it can influence our lives.
Well, if you’re interested in learning how you can make more informed decisions in your life in a variety of areas, whether that be financially or in relationships, this book would be very useful for you because Ariely talks about the experiments and the implications they have.
And it shows you how our decision-making process is irrational.
That’s it, that’s my book review of Predictably Irrational by Dan Ariely.
If you want to see what I talked about here in a written format or you want more information on the author, please head over to my blog www.promotekdbook.com. Promote kindle book for free.
Next week I’ll be back with another book review.
But until then, keep reading and keep learning.