Predictably Irrational: The Hidden Forces That Shape Our Decisions

This is a book by Dan Ariely that I have started to read. Dan Ariely is a behavioral economist. If you don’t know what a behavioral economist is, maybe it’s about time you found out.

Follow this link to read my musings about the book. That is the page that I will update as I read more.

The type of research that Ariely does may not be well known to people who learned their economics a long time ago and have not maintained contact with the current state of economic theory.  I certainly include myself in the list of old geezers who have fallen behind.  I would also include John McCain and perhaps Phil Gramm in that list.

With Barack Obama’s university contacts and his willingness to learn new things, I would be willing to bet that his policies will take account of this new information.  My thinking on economics will certainly be influenced by this book.

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