Review of 'Predictably irrational : the hidden forces that shape our decisions' on 'Goodreads'
4 stars
Behavioral economics is a field that interests me deeply. For some reason, I'm drawn in whenever someone gathers data about not only what we do (rather than what we think we do), but why we do it.
When those things come together, it provides a model for understanding my own behavior and, when necessary, modifying it. This book hits one right up the middle in that way, as does the author's site.
He examines some of the behaviors we all exhibit that don't mesh with what a purely rational/logical behavior would be in the same situation. For instance, we nearly all have a completely irrational desire to avoid closing off options. We'll go to absurd lengths to keep our options open, even when 1-2 of those options are demonstrably better in every way.
That's an impulse I feel regularly that has bothered me. After reading this book, there's a lot of those kinds of things I see myself doing that bother me. Fortunately, now that I recognize them, I can actually stop and adjust my behavior. On the flip side, I also now understand other people's behavior a little better as well. That can help when you're working with others and need a better model in your head for how they're going to act in day-to-day situations.
Overall, definitely an eye-opening book and approach.