Predictably Irrational: The Hidden Forces that Shape Our Decisions

Key Insights from 'Predictably Irrational'

1. People make irrational decisions due to various hidden forces.
2. Decisions are not always based on economic rationale – emotions, social norms and relative thinking play a crucial role.
3. Human beings are highly susceptible to the power of 'free' offerings.
4. Our expectations shape our experiences.
5. We often overvalue what we own or have created – the 'endowment effect' and 'IKEA effect'.
6. The concept of 'self-herding' leads us to believe our past decisions were correct, influencing our future choices.
7. Procrastination and self-control are two strong forces that battle within us.
8. Money, as a market norm, can...

   Please log in or register to view the full book summary.