We can use that knowledge to change their behavior and make them act more rationally. It is important to understand why people behave irrationally. In 2008, a book called Predictably Irrational was published. Therefore, we need to understand these patterns so that we can predict our own irrational behaviors and prevent them from making poor choices for ourselves or others. This happens because of predictable patterns in human behavior.

For example, a study showed that people think a placebo is more effective as a painkiller when they think it’s expensive instead of cheap. People are often irrational consumers, which can lead to poor decisions. This is because most people respond to relative price cues and stores use this fact to manipulate customers into paying more for an item than it’s really worth by making the first thing shoppers see very expensive and then putting lower-priced items near it later so that shoppers think they’re getting a better deal. For example, consumers may believe they are getting a good deal on a television when in reality they are just responding to the price of the product. Most people do not realize that their minds will fail them at some point. The first step in overcoming these issues is to recognize that we’re predisposed to making irrational decisions. These irrational decision-making behaviors are sometimes funny, but they can have serious implications for governments and health care systems. This book is about how the human mind makes irrational decisions despite having all of the information and tools to make rational choices. 1-Page Summary of Predictably Irrational Overview

Rationally irrational book