Book Byte #242 "Predictably Irrational" by Dan Ariely
The Hidden Forces That Shape Our Decisions
📣 Curious Quotes from the Author
“Individuals are honest only to the extent that suits them (including their desire to please others)”
“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.”
“But suppose we are nothing more than the sum of our first, naive, random behaviors. What then?”
“Giving up on our long-term goals for immediate gratification, my friends, is procrastination.”
“we usually think of ourselves as sitting the driver's seat, with ultimate control over the decisions we made and the direction our life takes; but, alas, this perception has more to do with our desires-with how we want to view ourselves-than with reality”
“People are willing to work free, and they are willing to work for a reasonable wage; but offer them just a small payment and they will walk away.”
“Standard economics assumes that we are rational... But, as the results presented in this book (and others) show, we are far less rational in our decision making... Our irrational behaviors arevneither random nor senseless- they are systematic and predictable. We all make the same types of mistakes over and over, because of he basic wiring of our brains.
“MONEY, AS IT turns out, is very often the most expensive way to motivate people. Social norms are not only cheaper, but often more effective as well.”
“that when given the opportunity, many honest people will cheat.”
“That’s a lesson we can all learn: the more we have, the more we want. And the only cure is to break the cycle of relativity.”
“most people don't know what they want unless they see it in context.”
“The danger of expecting nothing is that, in the end, it might be all we'll get.”
“A few years ago, for instance, the AARP asked some lawyers if they would offer less expensive services to needy retirees, at something like $30 an hour. The lawyers said no. Then the program manager from AARP had a brilliant idea: he asked the lawyers if they would offer free services to needy retirees. Overwhelmingly, the lawyers said yes. What was going on here? How could zero dollars be more attractive than $30? When money was mentioned, the lawyers used market norms and found the offer lacking, relative to their market salary. When no money was mentioned they used social norms and were willing to volunteer their time. Why didn’t they just accept the $30, thinking of themselves as volunteers who received $30? Because once market norms enter our considerations, the social norms depart.”
“human beings are inherently social and trusting animals.”
📚 Cognition of the Book’s Big Idea
When it comes to most of the daily decisions we make, people are incredibly irrational. Irrationality influences our decisions and behavior in a variety of situations, such as choosing how much to spend on a television or finding it difficult to eat better. The good news is that we don't have to be defenseless victims; by exercising caution and diligence, we may attempt to prevent irrationality and behave in our long-term best interests.
My Software Stack: I use Skool for my Online Community Platform and ClickFunnels for my Landing Pages, Payments, and Email Sequencing. I use Substack for my Newsletter and Taskade for AI Note Taking/Second Brain/Project Management. I use my Personal Amazon Store for Tech and Book Recommendations.
Try out the "Think and Grow Rich Challenge" by Russell Brunson and Learn more about the First Self Help Author Napoleon Hill