Finished this one on my flight back to Kolkata from Delhi.
The Upside of Irrationality
By Dan Ariely
Dan Ariely is one of the best author who writes on behavioral economics in a smooth & understandable manner. When I first read his book – ‘Predictably Irrational’, it blew my mind. I was first time peeking into the world of irrationality of our lifes. Then came the books by N. Taleb & D. Kahneman. And now I always look for the irrational rules inherent in the day to day events. Specially in Indian scenario as I find it less explored & highly complex & varied.
The book is divided into two parts.
Part 1 puts light on the ways our behaviors defy rational logic at Work. Let me just put the names of the chapters : Paying More for Less; The Meaning of Labor; IKEA effect; Not-Invented-Here Bias; Case of Revenge. The first chapter deals with why Big bonuses are paid to the higher executives & how much does it affects their productivity.(It’s an illusion mostly). The second one shows what happens when you take away the meaning away from ones work. The IKEA effect is worth exploring. (won’t say much about it). The Not-invented-here bias peeks into our inner selfish attachments. Case against Revenge can help you take that revenge more effectively.
Part 2 deals with illogical actions we take at our home. The first two chapter deals with our capability to adapt to changes in our environment. Dan puts his own excruciating experience to explore this area. Next one is for the singles planning to get their soul-mates.(Check it out if you are single). After that it explores why we easily take money out for One person in need of help. Though reluctant in case when the no. increases. The chapter on Short-term emotions effecting our decisions is enlightening. It can really help in self-development steps.
I also have Ariely’s another book on the shelf – ‘The (Honest) truth about dishonest’. And after reading this one, I am impatient to pick it up. However, I won’t pick it up now.(Delayed Gratification & Changed Priorities – yeah I implement them into my life as well).
For books like this, I plead to people – please, please, please- read it. It’s a golden egg. It’s easily understandable. Anybody can take it up.