Predictably Irrational is a 2008 classic by Dan Ariely, Professor of Psychology and Behavioral Economics at Duke University. I felt compelled to pen a review for this book because of the ruthlessly precise way in which the book shatters our conceptions of being a rational thinker and decision maker.
Firstly, it needs guts to challenge the much adored belief of humans that we are rational. Cudos to the author (Dan Ariely) for being contrarian. I have my own reasons for loving this book. It is so very close to marketing. It slaps us in our face for our seemingly rational consumption decisions. The author has based his work on elaborate research across various sections of the society. And he also shows how we adopt the theory of relativity in our most routine of decisions. Ariely has compiled his work across 15 chapters, each chapter with its own models and thoughts on the skewness of ‘rational’ thinking. The book can also be looked upon as an eye opener as to how we are not masters, but slaves of our perceptions, our imagery, and our traditions. That is what the title communicates – in our zest to be rational…we are irrational to the point of being predictable of our irrational behaviors. A must read for all budding managers.
Thus, I hereby summarize with the earnest insistence to one and all for grabbing the book and digesting the hitherto unknown facets of human interactions in social settings.