Saturday, July 31, 2010

Upside of Irrationality

This new book  by Dan Ariely sounds like a bumper !! Review - here:

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Imagine that your favorite sports team has just won the championship. That night, you have dinner with your mother-in-law, and your spirits are so high that you decide, on a whim, to buy her a bouquet of flowers. A month passes, and it’s time for another dinner with your wife’s mother. You recall your earlier touch of in-law gallantry, and bring her flowers once again, recycling the gesture and initiating what now becomes, unintentionally, a monthly ritual. An entirely unrelated and fleeting emotion has somehow crystallized into a habit that will stretch far into the future. While in this scenario the habit is positive, for negative emotions, these effortless slides, or “emotional cascades,” can have scary implications, suggesting how important it is not to let bad moods get the better of us. Sleep on it, indeed.

Ariely, a professor of psychology and behavioral economics at Duke, delved into the negative effects of biases in decision making in his bestselling book,
Predictably Irrational. He continues that effort here, emphasizing that when it comes to choosing, “irrational” doesn’t have to be a dirty word. If we can understand why we make poor decisions, he argues, we can better plan our own happiness, and in the long term, “design the world around us in a way that takes advantage of our incredible abilities while overcoming some of our limitations.”

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