Predictably Irrational
<p>The notion that humans are not always logical agents acting in our best interests is one of the major themes that Ariely examines.<strong> Rather, a variety of elements, including emotions, social standards, and cognitive biases, frequently impact our decision-making.</strong></p>
<p><strong>The “Irrationality of Ownership” experiment is one of the most well-known studies included in the book. In this experiment, a chocolate bar and a coffee mug were among the things that participants were asked to rate in value.</strong></p>
<p><strong>The things were handed to half of the participants for free, while the other half had to place a bid for them. </strong>The findings indicated that the worth of the things was much higher for individuals who had to bid on them than for those who got them for free.</p>
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