Daily Archives: February 8, 2012

BOOK REVIEW: “Predictably Irrational: The Hidden Forces That Shape Our Decisions” by Dan Ariely (2010)

This book is an excellent read whether you are a business student or not.  It gives a fascinating insight into why we make decisions that are not totally rational or in our long term interest. Few things could sound as boring as behavioral economics! This book is anything but boring.

High-priced entrées on the menu boost revenue for the restaurant

Among other things you will learn why people will steal a coke from a fridge but not cash (i.e why we can be honest in one context and dishonest in another), why people prefer taking medicine that is more expensive even though there is a cheaper version that works in the same way, why we try to save pennies on some things and then spend enormous amounts of money on an expensive meal.
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Filed under Book Review, Careers, Higher Education, Leadership, Psychology, Research, Strategy