Dan Ariely, the renowned behavioral economist and the author of the widely popular book “Predictably Irrational” has some interesting things to say about the effect of massive bonuses and their true effect on job performance in his New York Times article.
Ariely and his co-researchers use some cleverly designed experiments to study the relationship between the magnitude of . . . → Read More: The Downside of Bonus
I just read a post in Dan Ariely’s blog about the new expanded version of Predictably Irrational.
Predictably Irrational was first published in February 2008, and given the relative ease of modifying books these days, I decided to add some of my reflections on the stock market crisis — and create an expanded edition of Predictably . . . → Read More: Predictably More Irrational?
As I am listening to the audio version of the book “Nudge: Improving Decisions About Health, Wealth, and Happiness” by Richard H. Thaler and Cass R. Sunstein, I am beginning to notice the numerous daily “nudges” we experience, and have become accustomed to.
I drive to work and turn my car’s ignition off, and I . . . → Read More: Have You Been Nudged Today?
In his book “Blink,” Malcolm Gladwell describes an experiment where a store that offered over twenty different types of jam sold significantly less jam than another store that offered only six. Gladwell’s explanation for this is that when we are presented with too many choices, we get a lot of information to process and make a . . . → Read More: Too Many Choices Ruin The Sale
Blink: The Power of Thinking Without Thinking
by Malcolm Gladwell
This is Malcolm Gladwell‘s second book after “The Tipping Point.” In The Tipping Point, Gladwell writes about how sometimes things considered little and insignificant can unexpectedly cause big changes. Blink is about something very different; it is about how much information processing is . . . → Read More: Book Review: "Blink" by Malcom Gladwell
In my post Irrational Economics, I quoted some surprising observations from an article in The Atlantic titled “Dismal scientists: how the crash is reshaping economics.” I wrote:
“What the article says is that a lot of the economics theories that are being used today haven’t advanced at all in the past 80 years or so. While some . . . → Read More: Did Research Fundings Influence Economic Policies?
Ever since I stumbled upon the book Predictably Irrational, I have been fascinated by the field of behavioral economics. I have looked for other books or articles on the subject, and found Freakonomics, Sway, and The Tipping Point, to name a few. Why did I find these interesting? It is because they seem to have the . . . → Read More: Irrational Economics
In his book “Blink,” Malcolm Gladwell writes about “Sensation Transference.” He describes what a beer manufacturer realized when they tried to figure out why their competitor’s beer was always doing better in the market, in spite of their beer being of good quality, having good advertisements, and having been priced competively. After a series of marketing . . . → Read More: What You See Is What You "Think" You Get
In his book, “Predictably Irrational,” Dan Ariely describes what he calls the IKEA effect. This concept has been selected as one of Harvard Business Reviews’ Breakthrough Ideas for 2009.
The essence of this effect is to make us “love what we build.” It’s what you feel when you go to IKEA (or Home Depot, or whatever your . . . → Read More: What You Create Is What You Love