Wednesday, September 10, 2008

Predictably irrational: the hidden forces that shape our decisions

(This is an audio book available as a download from Wilbor)
Think you are a savvy consumer? Think no one can pull the wool over your eyes? Well, think again. One question behavioral economist Dan Ariely asked was how we ever started paying over four dollars for a cup of coffee. I felt very smug - only because I don't drink coffee so that has never been an issue with me. Then he told the story of Amazon and their free shipping policy. Oh yeah - that was me. I want a book but I will have to pay shipping. But wait - if I buy another book, then I qualify for the free shipping. What a deal. Amazon made a killing after they started offering "free"! The book is filled with interesting experiments that were carried out. Many times they used MIT students as the guinea pigs - yikes, if those smart kids act irrationally, what chance do I have?
I enjoyed this book and I will be a better consumer from now on - because I know they are trying to manipulate me.....well I probably will still buy one more book on Amazon to get the free shipping!

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