Customer Reviews: Read 119 more reviews...
 Fun, quick read; but not thought out completely July 23, 2008
In the spirit of Freakonomics, you'll find Predictably Irrational to be a fun, interesting look at behavioral economics. Why do we do some of the things we do? It has some interesting data and let's you think through some of your own actions. The only problem with the book is that the author makes an attempt at the end of some of the sections to provide his own answers. That is when it can be a little scary. For example, he doesn't quite understand the basic economics of Maxi-Min theory, and thinks it is irrational to want a free $10 gift certificate instead of paying $7 for a $20 gift certificate. Ummm, if you wind up not using the gift certificate, you are $7 better off doing what he would think is irrational.
More troubling to me was his statist view (for those unfamiliar with what Statism is -- it is the desire for massive government similar to what Democrats and Republicans desire -- it is the opposite of Libertarianism). The author argues that since people are irrational, government should take over some decisions for them (as if government wasn't just a collective, larger irrationality). To the author, it is better that we all suffer the same dismal fate instead of some people being better off. As an American (in the sense that I prefer liberty and freedom), I find his statist/socialist leanings a bit overbearing and unnecessary in this book.
 don't waste your money July 23, 2008
this book has some interesting theories but they are overshadowed by the left leaning social/political commentary. I thought I bought a book on marketing experiments and not to be lectured on how government is the best answer to societies problems because people are too stupid. This man has obviously not lived in the real world only the academic world. Too bad because he has an inquisitive mind but it has been muddled by his environment.
 The many foibles we have and didn't know about. July 22, 2008
Wealth Odyssey: The Essential Road Map For Your Financial Journey Where Is It You Are Really Trying To Go With Money?
A very good, and easily read, work about how our irrational behaviors are systematic and predictable. Effects such as decoys, anchoring, self-herding, the true cost of "free," social versus market norms, "reptilian brain," endowment effect, aversion to loss, making choices and sticking with them, consequences of not deciding, expectations, beliefs and conditioning, ethics, "free lunches" and more, are all discussed based on research results of experiments with groups of people.
Dan Ariely summarizes with 2 main lessons: we fail to comprehend forces that influence our behavior, but this does not necessarily mean we are helpless. Recognition of our foibles is a start.
A companion book to this one would be Your Money & Your Brain by Jason Zweig about what actually happens inside our brains when we think about money.
 Fun and interesting read July 21, 2008
I really enjoyed this read. It offered some interesting insight into the way people make decisions, form opinions. Each discussion came with indepth desciptions of the experiments used to base assertions. The thought process behind the experiments were also discussed in detail.
One of the best books non-fiction released in 2008 July 18, 2008
2 out of 2 found this review helpful
One of the most eye-opening books I have read in a long time. This easy-to-read and digest book is a nice introduction to behavioural economics. It follows some threads that were in Freakonomics, which was good, too, but I like this one even better.
|
