Dan Ariely: Predictably Irrational
| 20 minutes |
Dan Ariely, a professor of behavioral economics at Duke University, shares examples from his book Predictably Irrational illustrating why people fail to make logical decisions. Dan shows how the complexity of options will drive people away whether it is trying a couple more pills vs. hip replacement surgery or even checking a box to opt-out of organ donation. Also shown, is how presenting an inferior third choice can influence people to choose the similar, but better choice, which in one case translated to significantly higher subscription rates for The Economist. Take note, if you are going bar hopping, take a similar but uglier version of yourself with you.
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