We don’t have an internal value meter that tells us how much things are worth. Rather, we focus on the relative advantage of one thing over another, and estimate value accordingly. | |
— Dan Ariely | |
From his book: “Predictably Irrational“ | |
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On This Day In: | |
2022 | Spring Colors |
Decisions, Decisions | |
2021 | In Pursuit |
The Music Of Her Laughter | |
2020 | Close, Sustained And Careful |
2019 | #45: Spread The Fear |
Fear The Beards | |
2018 | Slice, Nick, Cut, Bled |
2017 | Like Most Blogs |
2016 | The Window Left Open |
Free Experience | |
2015 | Reality == Perception / (Times Reported * 10) |
2014 | Tear Da Roof Off Da Sucka |
2013 | Exposed Spirits |
2012 | Ow-ow |
2011 | Focused Relatives |
Posts Tagged ‘Predictably Irrational’
Focused Relatives
Posted in Philosophy, Quotes, Reading, Science and Learning, tagged Dan Ariely, Internal Value Meter, Philosophy, Predictably Irrational, Quotes, Reading, Recommended Reading, Worth on April 15, 2011| Leave a Comment »
Not Necessarily True
Posted in Quotes, Reading, Science and Learning, tagged Dan Ariely, Nature's Tools, Predictably Irrational, Quotes, Reading, Reality, Recommended Reading on April 13, 2011| Leave a Comment »
By the time we comprehend and digest information, it is not necessarily a true reflection of reality. Instead, it is our representation of reality, and this is the input we base our decisions on. In essence we are limited to the tools nature has given us, and the natural way in which we make decisions is limited by the quality and accuracy of these tools. | |
— Dan Ariely | |
From his book: “Predictably Irrational“ | |
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On This Day In: | |
2022 | This Dot – Our Home |
2021 | The Imposition Of Position |
Rainin’ Fire In The Sky | |
2020 | Stand Up! |
Crowd Sourced Scouting Report | |
2019 | Only One Direction |
2018 | Respect Is Long Gone |
2017 | Dream Of Dreamers |
2016 | Dear Automakers |
2015 | And Some Not So Brave Too |
2014 | In My Lifetime… |
2013 | Democracy |
2012 | Borrowed Expectations |
2011 | Not Necessarily True |
Ownership Of Thought
Posted in Philosophy, Politics, Quotes, Reading, Uncategorized, tagged Dan Ariely, Ideas, Ideology, Kool-Aid, Material Things, Ownership, Point Of View, Predictably Irrational, Quotes, Reading, Recommended Reading on April 11, 2011| Leave a Comment »
Ownership is not limited to material things. It can also apply to points of view. Once we take ownership of an idea — whether it’s about politics or sports — what do we do? We love it perhaps more than we should. We prize it more than it is worth. And most frequently, we have trouble letting go of it because we can’t stand the idea of its loss. What are we left with then? An ideology — rigid and unyielding. | |
— Dan Ariely | |
From his book: “Predictably Irrational“ | |
[Also known as “drinking the kool-aid”. — kmab] | |
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On This Day In: | |
2022 | A Little Epiphany |
2021 | Clear Global Standards |
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2020 | Life’s Mysteries |
2019 | I Doubt I Ever Will |
2018 | Who Will Thank (If Not Remember) Me |
2017 | Reinforced Learning |
2016 | I Choose To Believe |
2015 | What They Don’t Teach You At School |
2014 | Still Trying To Die (5) |
2013 | Honest Doubt |
2012 | Choice |
2011 | Ownership Of Thought |
Just Trippin’
Posted in Philosophy, Quotes, Reading, Science and Learning, Serendipity and Chaos, tagged Dan Ariely, Philosophy, Predictably Irrational, Quotes, Reading, Recommended Reading on April 9, 2011| 1 Comment »
But there’s one aspect of relativity that consistently trips us up. It’s this: we not only tend to compare things with one another but also tend to focus on comparing things that are easily comparable — and avoid comparing things that cannot be compared easily. | |
— Dan Ariely | |
From his book: “Predictably Irrational“ | |
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On This Day In: | |
2022 | And Do The Right Thing… |
2021 | Rational Response |
This Can’t Go On | |
2020 | A Different Premise |
2019 | Can Too |
2018 | To Get Strength |
Drip, Drip, Drip | |
2017 | Bricolage Art |
2016 | Just A Shame |
2015 | Treasures Of The Mind |
2014 | Not Quite Exceeded Reach |
2013 | Who’s Side? |
2012 | Why I Joined The Army And Not The Navy… |
2011 | Is It Your Turn Yet? |
Just Trippin’ | |
Take Your Pick
Posted in Philosophy, Quotes, Reading, Work, tagged Dan Ariely, Philosophy, Predictably Irrational, Quotes, Reading, Recommended Reading on April 7, 2011| Leave a Comment »
If you’re a company, my advice is to remember that you can’t have it both ways. You can’t treat your customers like family one moment and then treat them impersonally — or, even worse, as a nuisance or a competitor — a moment later when this becomes more convenient or profitable. This is not how social relationships work. If you want a social relationship, go for it, but remember that you have to maintain it under all circumstances. | |
— Dan Ariely | |
From his book: “Predictably Irrational“ | |
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On This Day In: | |
2022 | Remember |
2021 | Now You’re 31… |
Versions: (Father And Son) | |
2020 | Make A Fuss |
2019 | Hopefully, You’re Learning To Forgive |
2018 | Enjoy The Sunsets As Well As The Sunrises |
2017 | Enjoy |
2016 | I Got A Feeling |
2015 | Fiction Leading To History |
2014 | A Self-Correcting Process |
2013 | None But He Knows |
2012 | 99% Are Demanding |
2011 | All In The Family |
Take Your Pick | |
Start Here…
Posted in Philosophy, Quotes, Reading, Science and Learning, tagged Dan Ariely, Philosophy, Predictably Irrational, Quotes, Reading, Recommended Reading on April 5, 2011| Leave a Comment »
Let me start with a fundamental observation: most people don’t know what they want unless they see it in context. | |
— Dan Ariely | |
From his book: “Predictably Irrational“ | |
[This is why we do prototyping! — kmab] | |
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On This Day In: | |
2022 | Dust Under Your Fingertips |
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Just Enjoying The Sun | |
2020 | To My Idealistic Sister |
2019 | Respect For My Sister |
2018 | I Trust Cows |
No Boundary | |
2017 | Don’t Sink Now |
2016 | A Burning Passion To Teach Freedom |
2015 | Before Debit (And Credit) Cards |
2014 | Herding Cats |
2013 | Ooops! |
2012 | Understand A Great Truth |
2011 | Start Here… |
2010 | Random Acts of Vandalism On Easter Weekend… |
Wake Up
Posted in Quotes, Reading, tagged Dan Ariely, Predictably Irrational, Quotes, Reading, Recommended Reading on April 3, 2011| 2 Comments »
But in the larger context, we need to wake up to the connection between nonmonetary currency and our tendency to cheat. We need to recognize that once cash is a step away, we will cheat by a factor bigger than we could ever imagine. We need to wake up to this — individually and as a nation, and do it soon. | |
— Dan Ariely | |
From his book: “Predictably Irrational“ | |
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On This Day In: | |
2022 | Guitar Music |
Yesterday | |
2021 | Maybe Faith Is Based On Hope |
I Want To See You Smile | |
2020 | Thank You (To Those Who Serve) |
Hanging In There | |
2019 | Her Job, Too |
2018 | Just Another Song I Like |
Earlier Still | |
2017 | Ten To Go |
2016 | Unstable Emergence |
2015 | 88 |
2014 | Some One-Liners Are Too Easy |
2013 | Greatness |
2012 | Memories Of Arlington |
2011 | Wake Up |
Irrationally Predictable
Posted in 2011 Book Review, Book Review, Philosophy, Politics, Reading, Reviews, Science and Learning, Serendipity and Chaos, tagged $1 Gifts, 2011 Book Review, Book Review, Books, Dan Ariely, Japan Relief, Libya, Martin Luther King Jr, Muammar Gaddafi, Nuclear Energy Industry, Philosophy, Politics, Predictably Irrational, Predictably Irrational -- book review, Quotes, Reading, Recommended Reading, Red Cross, War on March 19, 2011| Leave a Comment »
Book Review: | |
Yesterday, I finished reading “Predictably Irrational” by Dan Ariely (2008©). Mr. Ariely is a behavioural economist. In traditional economics, we (the buyer) are expected (“supposed to”) make all of our purchasing decisions based on rational consideration of which option brings us the greatest perceived benefit (which is not necessarily our greatest economic benefit). As it turns out, this is “frequently” not a valid assumption. A behavioural economist studies why this is true and looks for underlying causes in decision-making. In effect, they are looking for the causes of our irrational behaviour. | |
I admit up front, prior to reading this book, I had no idea there even was a field of study called “behavioural economics”, although I have been aware for some time that people do things (make decisions) which appear irrational (to me). For example, why do mid-Westerners and Southerners consistently vote for conservatives (mostly Republicans), when conservatives do not (for the most part) represent these voters economic interests. (This has always been a curiosity to me, because I always assume that given two candidates, one would always vote for the one who represented your economic interests.) | |
The book offers individual chapters on a number of “hidden” factors in our decision making processes. Among them are ownership, positioning, and poor math relational skills. For example, many people keep things beyond the items utility period because we already own the item. We even are willing to continue to spend on maintaining ownership – over and above the cost of the item – to continue ownership. How many of us know someone who rents storage space (in economic terms, cluttered garages and attics are equal to rented storage space although the monthly payment is indirect) to hold items (furniture, books, albums, clothing) which we will never use again? How many of us do this ourselves? | |
Anyway, this book is a very fast and enjoyable read and I highly recommend it to anyone interested in gaining a better insight into why people seem to make irrational economic decisions. | |
Comments on world news: | |
First Libya – Let me put this as clearly as I can state it – NOOOOOOOO! NO MORE WARS!!! | |
This morning’s quote was from Rev. Martin Luther King, Jr.: “The laws are not to change the heart, but to restrain the heartless.” The U.S. is NOT the law. The U.N. is NOT the law. Remember, the Reagan administration supplied (money and weapons) the Afghans in their war against the Soviets and the result was the Taliban. There is a law of unintended consequences. With the best of intentions, you are getting precipitously close to the unintended consequences which will result when we get involved in something we know little about and absolutely cannot control as a final outcome. | |
I wish we could make the world a better place by removing Muammar Gaddafi and his family from Libya, but it is already too late. Once a dictator decides it is acceptable to kill everyone who stands against him and then proceeds to do so, it is too late to do anything about it. A no fly zone will not stop his army (tanks and artillery) from pulverizing the opposition. Ground troops will be required. Who is going to send them? The French? The Italians? The other Arab states? We can “try” to establish a no land travel and no artillery zone – but the cost of maintaining such an effort from the air (and from aircraft carriers) will be astronomical. Ground troops will be required. Let’s not kid ourselves… | |
And even if Gaddafi chooses not to murder his opposition directly, he can blockade them and starve them to death. Does anyone seriously think anyone (the U.S., France, the U.K.) will be willing to air-drop food and supplies to the opposition for any protracted period of time? | |
Does anyone seriously believe the tribal warlords who would control Libya’s various regions, will be more democratic than Gaddafi if they should happen to win (with our support)? Are we really promoting a democratic Libya? In all honesty, I don’t know either, but I doubt it. I think we are deciding we know enough about the current devil, that we’re willing to take a chance on the devil(s) we don’t know about in the future. | |
So where is our national interest? As near as I can tell, we have no direct national interest in this conflict. Of course we have a humanitarian interest, but has the U.S. EVER gone to war over a humanitarian interest? Now, Europe has “national” interests in Libya – oil, not the promoting of a democratic state in North Africa. So are we willing to help Europe with their oil problems? If yes, what can we expect to get out of this? Do we really expect France to support our continuing efforts in Iraq and Afghanistan? Will they commit air power and troops? Don’t make me laugh! | |
Please, President Obama – as much as it pains me to say this – because I know the U.S. would love to be shut of Gaddafi – leave this one alone!! You are getting bad advice, AGAIN!! Stay out of it. And get us out of Iraq AND Afghanistan now! They are already bleeding us dry (economically and spiritually) NOW! Mr. President, please read the book reviewed above and maybe you’ll have a better understanding of why this is a terrible decision!!! | |
Tonight I continue to pray for the people of Libya, for world peace and for the withdrawal of American forces from around the globe. | |
Second, the disaster in Japan – my heart goes out to the people of Japan. No one could watch the TV and not be overcome by the magnitude of carnage. You are in our prayers. Today I donated $10 to the Red Cross Japan Relief efforts. I realize this is more than my $1 donation page generally asks for, but during the last week I read of an elderly man bowing deeply to a relief worker when the man was handed the equivalent of a bowl of rice for a meal. His simple act of gratitude and civility made me cry. I am also struck by the courage of the 50 (now approximately 200) brave men who have sacrificed their own lives to save their families and their country (and probably the world) from the nuclear disaster which is unfolding before our eyes on TV. Please give anything you can spare. Honor courage! | |
Other thoughts: | |
I make no effort whatsoever to conceal the fact I am completely opposed to the nuclear energy industry. There is no such thing as a safe nuclear reactor. There are only one-in-a-thousand-years or one-and-a-million-years accidents waiting to happen. The problem isn’t the odds against when something will happen. The problem is the result when it does happen. In this case, the “real” problem isn’t the fuel in the reactors. It is the spent fuel laying next to the reactors. There is NO safe place on earth to put spent fuel! This is the fundamental problem with the industry. | |
Three Mile Island. Chernobyl. Now, Fukushima. How many nuclear plant disasters and how many deaths have to happen before we abandon nuclear energy? The only thing a nuclear plant is good for is making nuclear arms and I’m not convinced that’s such a good thing either – but the genie is already out of the bottle on that one. I’m not saying burning coal, or oil, or natural gas are any better for the environment in the long-term. All I am saying is the catastrophic risk of damage is less. And you’ll note I have intentionally qualified my statement to the plant. We have NO idea what long-term effects the oil leak in the Gulf of Mexico will have on the oceans or the world. We are playing Russian Roulette with the planet and we have no idea how many chambers or how many rounds are in the game. | |
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On This Day In: | |
2022 | Be Someone For Somebody |
2021 | Genius (And Other Details) |
I Don’t Know Why | |
Going Into The Deep End | |
2020 | Repercussions For Health |
2019 | Chained To #45 |
2018 | Some Men Make Their Office As Small As Themselves |
2017 | Too Many |
2016 | Not Yet, Anyway |
2015 | On Pornography |
2014 | Nudge, Nudge |
2013 | The Journey Will Be Joy |
2012 | Hopeful Flights |
2011 | Irrationally Predictable |
Lawful Restraint | |