Title: Predictably Irrational by Dan Ariely: Summary and Notes - Dan Silvestre
Headings: Predictably Irrational by Dan Ariely: Summary and Notes
Predictably Irrational by Dan Ariely: Summary and Notes
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Predictably Irrational Short Summary
The Truth About Relativity
The Fallacy of Demand and Supply
The True Cost of Zero
The Cost of Social Norms
The Power of a Free Cookie
Free can make us less selfish.
The Problem of Procrastination
The High Price of Ownership
Quirks in Human behavior:
Keeping Doors Open
Expectations also shape the stereotypes we have of others.
The Power of Price
The Cycle of Distrust
The Context of Our Character
Dealing in cash makes us more honest.
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Drive by Daniel H. Pink: Summary and Notes

Content: When the price is set to free, people take things they don’t need and forego better deals because they think ‘free’ comes at no cost. Free is alluring because people are afraid of loss even when the free item leads to increased opportunity costs. “When we pay—regardless of the amount of money—we feel some psychological pain, which social scientists call the “pain of paying.” This is the unpleasantness associated with giving up our hard-earned cash, regardless of the circumstances.” For example: When offered a choice between a free $10 Amazon gift card and $20 gift certificate for $7, approximately 70% of people choose the free $10 Amazon gift card even though $20 gift card for $7 is the better deal. To become more rational: Always ask yourself if the free item will lead to additional costs in the future. If yes, you are acting irrationally
Everything has an opportunity cost. Before being influenced by free things, consider what you are foregoing
Free things also impact subsequent behaviour.