Predictably Rational
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Predictably Rational?
Author: Richard B. McKenzie
language: en
Publisher: Springer Science & Business Media
Release Date: 2009-10-21
Mainstream economists everywhere exhibit an "irrational passion for dispassionate rationality." Behavioral economists, and long-time critic of mainstream economics suggests that people in mainstrean economic models "can think like Albert Einstein, store as much memory as IBM’s Big Blue, and exercise the will power of Mahatma Gandhi," suggesting that such a view of real world modern homo sapiens is simply wrongheaded. Indeed, Thaler and other behavioral economists and psychology have documented a variety of ways in which real-world people fall far short of mainstream economists' idealized economic actor, perfectly rational homo economicus. Behavioral economist Daniel Ariely has concluded that real-world people not only exhibit an array of decision-making frailties and biases, they are "predictably irrational," a position now shared by so many behavioral economists, psychologists, sociologists, and evolutionary biologists that a defense of the core rationality premise of modedrn economics is demanded.
Predictably Irrational
Cuts to the heart of our strange behaviour, demonstrating how irrationality often supplants rational thought and that the reason for this is embedded in the very structure of our minds.
The Upside of Irrationality: The Unexpected Benefits of Defying Logic at Work and at Home
Behavioral economist and New York Times bestselling author of Predictably Irrational Dan Ariely returns to offer a much-needed take on the irrational decisions that influence our dating lives, our workplace experiences, and our general behaviour, up close and personal.