Critical Book Review - Predictably Irrational - Dan Ariely (2008 or Essay

Critical Book Review - predictably Ir lucid - Dan Ariely (2008 or 2009 edn) - Essay ExampleHowever, this is not always the case. The book discusses that how cognitive psychology influences the susceptibility of an individual to assess the pros and cons of a given sparing situation. Behavioural economics being the focus, the book in any case develops an interdisciplinary approach and topics such as finance, market and management are explored from time to time. The book has been scripted by Dan Ariely. He is an Israeli American professor of behavioural economics and psychology. Ariely is currently appointed as a professor in the Duke University, Department of Economics. He is also a Senior Fellow at the Kenan Institute of the same university. (Duke University, 2010) He has a strong grip of psychology and behavioural economics and and then he is better able to analyze people. His background suggests he has intercultural exposure as he has been brought up in Israel and now he works in USA. I think this helps him to develop a deeper brainwave of the peoples behaviour. Dan Ariely spent his early life in Israel. As a native Israeli, Ariely was set-aside(p) in military service when he was eighteen years old. While at service, a milligram flare explosion left him severely injured. He had 3rd degree burns almost entirely over his body, and he had to remain in hospital bed for a long time. During this period of his life, Ariely began to invent on human behaviour. For example, he wondered why the nurses removed his bandages in the way they did. Were they able to be lease fit to their intention to relieve him? If not, why? He also noted the behaviour of the other patients around him. It is from present Ariely started his research on irrational behaviour of individuals. The book is well structured and planned. It has thirteen chapters. Some chapters have impressive titles like Power of Price (Why a 50-Cent Aspirin Can Do What a centime Aspirin Cant?) (Ariely, 20 09 p. 173) and The Effect of Expectations (Why the Mind Gets What It Expects?) (Ariely, 2009 p. 155). These sorts of topics are certainly thought provoking. As the endorser looks at the outline of the book, his or her curiosity is increased. The sections in each of Arielys chapters tell a story, draw in it well and conduct an experiment. Finally, at the end of every chapter, Ariely analyzes the inferences and develops postulates on how the results obtained so far can spay a persons economic behaviour. In the book, the writer has not merely criticized classical economics. He has expressed his concern about behavioural irrationalities too. In the context of the books describing anomalies and irrationalities, there is a growing cull out base within disciplines outside of economics (McKenzie, 2009 p. 32). Ariely respects the readers from this fan base and he is tireless to incessantly explain his economic views so that the readers from non-economics background can also understand t he key concepts. The basic opinion of the book (as we find in its 2008 ed. too) delivers a strong blow to the very concept that we can unravel a system on the basis of the assumptions that people will always act according to the rational calculus. Cognitive inconsistencies are real factors, and they should be analyzed and reflected on by the academia, government, corporations and policy makers. In practice, economic strategies are actually directed to appeal to emotion, not rational calculus (Thomas, 2008). Further, as reviewed by Doctorow (2010),