Ready to learn the most important takeaways from Predictably Irrational in less than two minutes? Keep reading!
Why This Book Matters:
Predictably Irrational discusses the irrational judgments and decisions we take in our everyday life without reasoning about them. This exciting book is written by Dan Ariely, who is the James B. Duke Professor of psychology and behavioral economics at Duke University, NC.
The Big Takeaways:
- The word “free” takes a rational approach out of the equation.
- If People often consider a “free” giveaway more valuable than it is worth. It has been a powerful element to disrupt our rational approach to purchasing.
- Creating comparisons in everything may leave us envious, miserable, and often in pain.
- While making comparisons can sometimes be helpful, it should not become a deciding factor for everything.
- Our experiences with anything influence our rational judgment.
- Expectations often play a vital role in our perception of a thing instead of a rational calculation.
- People may give in to a little bit of dishonesty.
- Dan argues that people are prone to dishonesty to obtain certain benefits, though they rarely do this to get minor materialistic benefits.
- The rational inner-side always tells us to be systematic, although we often give in to irrational urges.
- Just like the case of Dr.Jekyll and Mr. Hyde, people often succumbed to Mr. Hyde’s immediate tendencies rather than the long-term measured approach of Dr. Jekyll.