Bashakar Here are brief summaries of the chapters. When a market fails: Some additional editing would have been helpful. My only bone of contention being it got a little boring at times ratlonality yes most of the experiments were kind of long drawn. Levitt and Stephen J.
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Shelves: behavioural-economics It is possible that I give far too many books five stars. Oh well. Time to rebrand, perhaps? Behavioural Economics has become very popular. For instance, I have frequently told people over the years about the masturbation Vs decision making experiment described in his first book. I have also told people about the idea of paying your mother-in-law for her Thanks Giving dinner.
These are endlessly fascinating experiments that tell us fundamental truths about being humans. The experiments detailed in this book are a bit more obvious. Nevertheless, they do get the reader to think and getting to think is a good part of the reason why one reads in the first place.
If I was feeling cruel I think I would say that Behavioural Economics is a series of fascinating ideas in search of an over-arching theory. Its basic problem is that it is a bit like Atheism — it is essentially oppositional. There is nothing wrong with that, per se, but being purely oppositional can become tedious.
So, what does Behavioural Economics stand in opposition to? The simple answer is Rational Economics. Rational Economics is the view that people always act according to their best interests. When confronted with choices they always decide on the one that best meets their needs. Rational Economics confounds freedom with choice and ignores emotion entirely. Rational Economics also confounds motivation with incentives.
But Rational Economics also provides the basis on which we build many of the theories that structure how we think about the economy as a whole — particularly around notions of the free market. Books by Behavioural Economists tend to detail groups of experiments where people are forced to make decisions and how they invariably make decisions that are clearly not in their long term or even immediate interests and this is normally because people are notoriously bad at making decisions and are prone to all manner of predictable biases.
Ariely has suffered horribly in life and he uses his experiences of unspeakable pain as a way to explain some of the ideas necessary in this book.
The Upside of Irrationality: The Unexpected Benefits of Defying Logic at Work and at Home
Shelves: behavioural-economics It is possible that I give far too many books five stars. Oh well. Time to rebrand, perhaps? Behavioural Economics has become very popular.
DAN ARIELY THE UPSIDE OF RATIONALITY PDF
The family emigrated to Israel when he was three. He grew up in Ramat Hasharon. While he was preparing a ktovet esh fire inscription for a traditional nighttime ceremony, the flammable materials he was mixing exploded, causing third-degree burns over 70 percent of his body. However, in his last year he dropped philosophy and concentrated solely on psychology. In he earned a Ph. BEworks was acquired by kyu Collective in January
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