Category: 2 – BUY it! (All Categories are 1 – Read ASAP!, 2 – BUY it!, 3 – SHELF it, 4 – SOMEDAY it)
Comments: We are going through a golden age in understanding human behavior. And Dan Ariely’s research and book are definitely at the forefront of this shift in understanding. A very good book.
Top 3 Learnings:
1. Conventional economics assumes we make logical rational decisions when, in reality, we exhibit repeated predictable irrationality.
2. I was astounded at some of the research on the placebo effect i.e. when medical treatments were substituted with ‘fake’ treatments that had equal (if not better) effect in terms of patient well being because the patients thought they had been treated.
3. While the ability to choose gives us some happiness, choices do not. In fact, choices are amongst the biggest causes of unhappiness that exist.
Fascinating book. I’m well into my journey into modern behavioral economics and understanding. If I had begun my journey with this book it would have been priority 1. A great book nevertheless. It will keep you intrigued and entertained..