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.
Related Book Summaries
Drive by Daniel H. Pink: Summary and Notes

Content: If there is something you do and are likely to procrastinate on, associate the activity with a rewarding experience
The High Price of Ownership
Endowment Effect: people tend to value the things that they own more than they are worth to them or to others
Quirks in Human behavior: We fall in love with what we already have
Focus on what we may lose rather than what we may gain
Make the assumption that other people will make the same value judgments as we do
Feel ownership even before we buy something
How to reduce the power of the endowment effect: Think about the alternatives. Ask yourself: what else can I get in place of the things that I have? Detach yourself from things you are buying. Think as a non-owner and your decision will be more in line with your expectations
When selling, consider the perspective of the other party. Other people may not share the same feelings of attachments that you have over the product that you are trying to sell
Keeping Doors Open
The fear of losing makes people keep their choices open even though in the long-run this works against them. For example: