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PREDICTABLY IRRATIONAL - by Dan Ariely

Predictably Irrational US cover

 

For brand practitioners, any book which studies human nature has got to be worth a read; in this case, how people don't behave like sensible, rational human beings.

Dan Ariely, an eminent American Professor of Behavioral Economics certainly blows a hole in some of the fundamental laws of economics, such as supply & demand, but to those of us from a behavioural sciences background, the idea that people don't make rational decisions, doesn't come as much of a surprise.

For brand and marketing people, it's a great read; there are plenty of insights into why people do what they do. I particularly enjoyed the section on comparative behaviour and the implications on pricing decisions. Some of the material may seem obvious, but it's a reminder of how easily we are all influenced by things around us.

Written in an engaging, chatty style, although lacking the thematic point of view of some of Malcolm Gladwell's books, Ariely holds up a mirror very effectively - none of us are above making entirely irrational decisions on a very regular basis.

Entertaining and educational, it is a very interesting book although rather US-centric.

Don't expect to agree with everything you read, but be prepared to ask yourself some very good questions. Perfect for those who think they're more rational than they are....

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