A fun introduction to behavioral economics

Many decisions Abebooks web make in our daily lives sccm quite irrational coolly and dispassionately When Analyzed in terms of WHETHER Those decisions make economic sense Any gold Are They beneficial to us in Some Other Way. And yet, irrational Those decisions are not completely Call random, goal there is reason to Some Their madness. The share of psychology That deals with this "irrationality" in marketplace is Referred to as behavioral economics, and this research field HAS had a great impact on our understanding of how markets work and has-been the major intellectual and empirical driving force away from the Idealized rational agents of classical economic theory.

Behavioral economics est the main subject of this eminently readable and entertaining book. In it the author, Dan Ariely, takes the reader on a tour of various ingenious and insightful psychological experiments That Shed Some Light on the way we make economic decisions. The fates of experiments described - from drinking beers at various restaurant, selling and buying tickets for a favorite sports team, to cheating in various situations When money or products are at stake - are all very relevant to everyday life. Ariely est aussi a very Engaging writer and the book: has a very strong personal feel. HOWEVER, this overly personal approach can get to be a bit distracting at times. It Would Have-been helpful if the author used examples from --other Researchers in the field or at least tried to show how research fits Within His Own Some larger picture gold framework. As it is, the reader gets the feeling Almost That single-handedly Ariely HAS come up with the ideas and concepts are presented in That this book.

Another problem That I-have with this book Is That It Does not sccm to-have a well defined focus, other than the "irrationality" Itself. Too many concepts from psychology (priming, placebo, peer pressure, etc.) are conflated and made to sccm to be just manifestations of single overarching "irrational" behavior. I would-have liked aussi if the author tried to Provide more explanation for why we do act in this way Seemingly irrational. A brief description of evolutionary strengths That shaped our thinking Would Have beens Useful. Many of These "irrational" Certainly Behaviors Some HAD must have purpose; Otherwise We Would Have Become extinct long time ago.

Overall, this is a very well written and entertaining introduction to behavioral economics. It will make you look at your everyday microeconomic decisions in a whole new light.