nicknicknicknick reviewed Predictably Irrational by Dan Ariely
Review of 'Predictably Irrational' on Goodreads
3 stars
1) "If companies want to benefit from the advantages of social norms, they need to do a better job of cultivating those norms. Medical benefits, and in particular comprehensive medical coverage, are among the best ways a company can express its side of the social exchange. But what are many companies doing? They are demanding high deductibles in their insurance plans, and at the same time are reducing the scope of benefits. Simply put, they are undermining the social contract between the company and the employees and replacing it with market norms. As companies tilt the board, and employees slide from social norms to the realm of market norms, can we blame them for jumping ship when a better offer appears?"
2) "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."
3) …
1) "If companies want to benefit from the advantages of social norms, they need to do a better job of cultivating those norms. Medical benefits, and in particular comprehensive medical coverage, are among the best ways a company can express its side of the social exchange. But what are many companies doing? They are demanding high deductibles in their insurance plans, and at the same time are reducing the scope of benefits. Simply put, they are undermining the social contract between the company and the employees and replacing it with market norms. As companies tilt the board, and employees slide from social norms to the realm of market norms, can we blame them for jumping ship when a better offer appears?"
2) "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."
3) "As I mentioned, the cans of Coke quickly disappeared; within 72 hours every one of them was gone. But what a different story with the money! The plates of dollar bills remained untouched for 72 hours, until I removed them from the refrigerators.
So what's going on here?
When we look at the world around us, much of the dishonesty we see involves cheating that is one step removed from cash. companies cheat with their accounting practices; executives cheat by using backdated stock options; lobbyists cheat by underwriting parties for politicians; drug companies cheat by sending doctors and their wives off on posh vacations. To be sure, these people don't cheat with cold cash (except occasionally). And that's my point: cheating is a lot easier when it's a step removed from money."