A review by bookwormmichelle
The Upside of Irrationality: The Unexpected Benefits of Defying Logic at Work and at Home by Dan Ariely

4.0

Very much enjoyed this, although it might more profitably have been titled "How To Deal with Irrationality". And I have just a couple of minor quibbles--like I don't think it's fair to call the singles dating scene a "market failure" and I also think it unfair to say that any transaction that does not maximize the dollar increase to a participant "irrational" Classical economics clearly runs on the PREFERENCES of the individual, and those preferences can be monetary or otherwise. It's true that it is devilishly difficult to quantify nonmonetary preferences, so models frequently don't mess with them, but still. It's not irrational to choose, for example, to split a $10 bill 50/50 with a receiver during a game--if my preferences include the satisfaction to my sense of justice that I feel in doing it that way. But all in all, Ariely's research is fascinating, and his personal story inspirational.