Dan Ariely Predictably Irrational Summary

With Predictably Irrational, Dan Ariely contributes to the growing list of books (Blink, Nudge, Freakonomics, Thinking, Fast and Slow) meant to challenge preconceptions of human rationality. Ariely’s book first begged the question about Israel’s proclivity for producing behavioral economists. Recognizing an insufficient sample size to justify that generalization and loath to assume more research in my waning days at the War College, I cast aside that thought to find lessons in Predictably Irrational that might aid my decision making efforts. Ariely asserts his book addresses human irrationality – the absence of reason – which is not only more common than most humans believe, but predictable. The book’s underlying assumption is that we are “pawns in a game whose forces we largely fail to comprehend”. By this, Ariely means to: (1) alert us to illusions about our ability to reason and (2) enable us to act as rationally as we think we do.
Predictably Irrational affirmed my theory on irrational “ambush zones”, presented to Dr. Gerras early in the Critical Thinking elective. Ariely’s book was also valuable to my wife and me during our search for a home to …show more content…
One of the vexing aspects of watching home remodel shows (especially “flippers”) is how agents and shoppers at the end of the program seem to undervalue the newly renovated home. Like Ariely’s basketball ticket subjects, sellers (which we will be someday) struggle to separate the emotional history associated with their property that buyers neither see nor care about. That said, real estate agents are masters at creating virtual ownership (“Imagine your kids playing in the swimming pool!” “Perfect kitchen for entertaining!”) Considering a home’s emotional connections, realtors are adept at disrupting objective decision