BOOK REVIEW - Predictably Irrational by Dan Ariely. Read Below.

Which is a better compliment to give your child?

1.      You are hardworking

2.      You are gifted

Which one is more harmful in the long rung?

And then, why?

“Predictably Irrational,” is a book written by an MIT economist Dan Ariely that explains, elaborates and exemplifies these strange questions.

It is a book that seeks to shed light into the rather relatively new world of behavioral economics and seeks to simplify how simple decisions are made by a complex mind. And the part that sets the book into motion are the experiments performed on human beings – not the ones you would see in a horror movie but rather goofy ones you could even perform with your 10 year old child.

He covers a wide area of interests – from sexual attitudes to a persons ability to cheat to how much pain would one want to undertake for a small payment. And there are humorous but shocking results when you realize that people even unconsciously react when they are asked to read and remember that they belong to a non-existent code of honor.

One would even be surprised to know what impact the word ‘free’ has on people.

“Predictably Irrational” is a far more revolutionary book which is a concise summary of why today’s social science increasingly treats the markets-know-best model as a fairy tale.

If nothing else, you would read this book and realize why you are more aware of things that happen around you – which don’t make sense but always keep happening.

And in the end may be shower the book with a few compliments like “brilliant,” “fantastic” or “delightful” to summarize your experience.

Overall rating 4.5 out of 5.