Rational, Irrational or Something Inbetween?

Dan Ariely, a behavioral economist at MIT, talks at TED in 2008. The talk, according to the official bio, is about the following:

Despite our best efforts, bad or inexplicable decisions are as inevitable as death and taxes and the grocery store running out of your favorite flavor of ice cream. They’re also just as predictable. Why, for instance, are we convinced that “sizing up” at our favorite burger joint is a good idea, even when we’re not that hungry? Why are our phone lists cluttered with numbers we never call? Dan Ariely, behavioral economist, has based his career on figuring out the answers to these questions, and in his bestselling book Predictably Irrational (re-released in expanded form in May 2009), he describes many unorthodox and often downright odd experiments used in the quest to answer this question.


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1 comment for “Rational, Irrational or Something Inbetween?

  1. Dana
    August 14, 2009 at 2:51 pm

    I found this presentation very insightful, and think his assertions are applicable to nearly every business, and to life in general.

    It is vaguely reminiscent of Malcom Gladwell’s “The Tipping Point” which discusses the catalysts of how and why some trends are launched into social phenomenas.

    This echoes Kotler’s theory that, “the key to good marketing is to let the consumer think that they arrived at their decision on their own.”

    Thanks for sharing this great clip- I’ve just ordered the book…

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