Predictably Irrational is an important gateway book that helped popularize behavioral economics. Its core insight—that our mistakes follow patterns—remains powerful. However, the field has matured, some of Ariely’s specific claims have weakened, and the book’s solutions are thinner than its diagnoses.
Ariely found that when people were offered a choice between a high-quality Lindt truffle for 15 cents and a mediocre Hershey’s Kiss for 1 cent, the majority chose the truffle. But when the prices were dropped by one cent each—making the truffle 14 cents and the Kiss —the majority switched to the Kiss. Predictably Irrational - The Hidden Forces That...
Most people believe they are honest. Ask someone, "Have you ever cheated on your taxes?" They will say no. Ask them, "Have you ever exaggerated a deduction?" They might pause. Predictably Irrational is an important gateway book that