Customer Review

60 of 64 people found the following review helpful
4.0 out of 5 stars Useful route into behavioural economics, 30 Mar 2008
This review is from: Predictably Irrational: The Hidden Forces that Shape Our Decisions (Hardcover)
I bought this having seen Dan Ariely speak at LSE recently. He was an engaging speaker and his research sounded interesting.

Having read the book I was left a bit underwhelmed, because I found that I was already familar with both some of the research and a number of the concepts, and was tempted to give it 3 stars. However on reflection that's probably a bit unfair. This is actually a good book for people interested in learning about the field of behavioural economics. It's nicely written with a chatty style, and some of Ariely's research is very interesting.

Just a few snapshots to give you an idea of what this book covers. He looked at subscription packages for The Economist and found that and obviously bad deal led people to choose an option that was like it but obviously better (because it gave them a way to measure the options). In contrast when there were two options that were different but hard to compare they tended to just go for the cheap option.

In a maths test where subjects were given a cash reward based on the number of problems solved and were given an opportunity to cheat, he found that asking them to recall the Ten Commandments ahead of the test appeared to make them less likely to be dishonest.

And in taste tests people prefer Pepsi to Coke when tasting blind, but prefer Coke to Pepsi when they know in advance when they know what they are going to drink. This suggests that we prime ourselves to enjoy something we expect to enjoy.

If this all sounds 'obvious' to you, to some extent you are right (although there are many examples in this field that are counterintuitive). But people like Ariely make the point that although in a 'common sense' way we know that we are easily influenced and 'irrational', policy is often still made with the assumption in mind that we behave as rational self-maximising economic agents.

One point that can be, and often is, made in return is that although behavioural economics is good at describing seemingly irrational behaviour, it is yet to prove itself as a useful resource for designing better policy (although opt-out, rather than opt-in, approaches to both pension saving and organ donation are arguably influenced by behavioural insights). And in fact Ariely's book is at its weakest when he tries to suggest ways that his research findings might inform policy (I'm not surprised that the bank didn't call him back about his credit card idea!).

So for someone such as me interested in policy the book is enjoyable, but a bit limited in value. However if you are new to this field and interested in finding out more this is a good starting place, and you may well find yourself surprised by some of the findings.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No

[Add comment]
Post a comment
To insert a product link use the format: [[ASIN:ASIN product-title]] (What's this?)
Amazon will display this name with all your submissions, including reviews and discussion posts. (Learn more)
Name:
Badge:
This badge will be assigned to you and will appear along with your name.
There was an error. Please try again.
Please see the full guidelines ">here.

Official Comment

As a representative of this product you can post one Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
The following name and badge will be shown with this comment:
 (edit name)
After clicking on the Post button you will be asked to create your public name, which will be shown with all your contributions.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.  Learn more
Otherwise, you can still post a regular comment on this review.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
 
System timed out

We were unable to verify whether you represent the product. Please try again later, or retry now. Otherwise you can post a regular comment.

Since you previously posted an Official Comment, this comment will appear in the comment section below. You also have the option to edit your Official Comment.   Learn more
The maximum number of Official Comments have been posted. This comment will appear in the comment section below.   Learn more
Prompts for sign-in
 

Comments


Sort: Oldest first | Newest first
Showing 1-1 of 1 posts in this discussion
Initial post: 9 Jan 2010 19:33:17 GMT
Jie Zhao says:
Thanks for the review, saving the the trouble of buying it as i have watched those two videos
http://www.ted.com/talks/lang/eng/dan_ariely_asks_are_we_in_control_of_our_own_decisions.html
http://www.ted.com/talks/lang/eng/dan_ariely_on_our_buggy_moral_code.html
i guess he only thing he could have done is to state it clearly to potential readers : don't buy the book if you know the concept, go and read my papers!

:D
‹ Previous 1 Next ›

Review Details

Item

4.2 out of 5 stars (146 customer reviews)
5 star:
 (62)
4 star:
 (59)
3 star:
 (18)
2 star:
 (4)
1 star:
 (3)
 
 
 
Used & New from: 3.99
Add to wishlist
Reviewer


Location: Brixton

Top Reviewer Ranking: 50,910