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 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. For example, free offerings on a buffet might cause you to eat more than is good for you
The Cost of Social Norms
Society functions on the basis of social and market norms. Mixing the two does not work well. When people work for a cause, they work harder. For important social causes like helping the needy, it is important to emphasize the positive nature of the work over any form of compensation for the said work. But when money is introduced as part of the equation, they think in terms of compensation and limit their effort to the amount of time they have and the money they seek to earn.