Predictably Irrational - by Dan Ariely

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Human beings are crazy creatures. Understanding human behaviour, what motivates us and drives our choices, is imperative for marketers and business leaders. In this session of We Read For You Rob Stokes presents Predictably Irrational: The Hidden Forces That Shape Our Decisions. Written by Dan Ariely, this book offers a concise summary of why today’s social science increasingly treats the ‘markets-know-best’ model as a fairy tale.

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Predictably Irrational - by Dan Ariely

  1. 1. Dan Ariely: Predictably IrrationalWe Read For You – 29 October 2010 (As read by Rob Stokes )
  2. 2. Economists expect us to be rational
  3. 3. Trouble is we’re often not
  4. 4. The Truth about Relativity
  5. 5. You choose:a) A weekend in Rome with a free breakfastb) A weekend in Paris with a free breakfast
  6. 6. You choose:a) A weekend in Rome with a free breakfastb) A weekend in Paris with a free breakfastc) A weekend in Paris without a free breakfast
  7. 7. The Fallacy of Supply and Demand
  8. 8. Anchoring has a major long term effect onour willingness to pay
  9. 9. Understand anchoring. Question yourrepeated behaviour.
  10. 10. The Cost of Zero Cost
  11. 11. Use free to trigger behaviour
  12. 12. Make sure you don’t pay with your time
  13. 13. The Cost of Social Norms
  14. 14. We are happy to do things, but not when weare paid to do them
  15. 15. The fine changed social norms to marketnorms
  16. 16. The High Price of Ownership
  17. 17. 3 Quirks of human nature: 1. We fall in love with what we already have. 2. We focus on what we might lose, rather than what we might gain. 3. We assume that other people will see the transaction from the same perspective as we do.
  18. 18. The Effect of Expectations
  19. 19. Beware the stereotype
  20. 20. The Power of Price
  21. 21. The Context of Our Character
  22. 22. Given the opportunity,most people are tempted to cheat
  23. 23. Particularly when we are not dealing with cash
  24. 24. We care about honesty and want to behonest. The problem is that our internalhonesty monitor is active only when wecontemplate a big transgression.
  25. 25. Beer and Free Lunches
  26. 26. What did I take out of this?

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