This is a summary of behavioral economist and New York Times best-selling author Dan Ariely's Predictably Irrational: The Hidden Forces That Shape Our Decisions, offering a much-needed take on the irrational decisions that led to our current economic crisis.
Why do our headaches persist after we take a one-cent aspirin but disappear when we take a 50-cent aspirin? Why do we splurge on a lavish meal but cut coupons to save 25 cents on a can of soup? When it comes to making decisions in our lives, we think we're making smart, rational choices. But are we?
In this newly revised and expanded edition of the groundbreaking New York Times best-seller, Dan Ariely refutes the common assumption that we behave in fundamentally rational ways. From drinking coffee to losing weight, from buying a car to choosing a romantic partner, we consistently overpay, underestimate, and procrastinate. Yet these misguided behaviors are neither random nor senseless. They're systematic and predictable - making us predictably irrational.
Available in a variety of formats, this summary is aimed for those who want to capture the gist of the book but don't have the current time to devour the full book. This is a summary that is not intended to be used without reference to the original book.