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Predictably Irrational - The Hidden Forces That Shape Our Decisions

Posted by: yulin on Feb. 23, 2014

Predictably Irrational - The Hidden Forces That Shape Our Decisions

Professor Dan Ariely discovered 15 patterns on how we make the same kinds of mistakes over and over again, systematically irrational. Understanding those 15 patterns is a step forward in making decisions that are good for us instead of doing ourselves a disservice if we are not even aware of the trap we fall in so easily. Those 15 patterns are: 1) the truth about relativity - why everything is relative - even when it shouldn't be. When presented with 3 choices, we tend to choose the one comparatively better than the other, and not the third one that can in fact be the best choice of all, given the right context. 2) the fallacy of supply and demand - why the price of pearls - and everything else - is up in the air. 3) the cost of zero cost - why we often pay too much when we ...

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