Book
Ariely D. Predictably Irrational: The Hidden Forces That Shape Our Decisions. New York: HarperCollins; 2008. 304 p.
Why we cite it
Ariely’s popular account of the psychology of “free”. In the book’s account, “free” is not simply a very low price but a qualitatively different psychological category that overrides cost-benefit reasoning.
Held research qualifies the book’s account. In the chocolate experiments reported in Shampanier’s 2007 MIT thesis (published with Mazar and Ariely in Marketing Science), the share of those choosing a chocolate who took a Hershey’s Kiss over a Lindt truffle rose from 27% when the Kiss cost 1¢ to 69% when it was free, with the price difference between the two held constant. Those experiments measure which item people take, not how much they eat.
About the author
Dan Ariely, PhD, is the James B. Duke Professor of Psychology and Behavioral Economics at Duke University and a founding member of the Center for Advanced Hindsight. He holds a BA in Philosophy and Psychology from Tel Aviv University, an MA and PhD in Cognitive Psychology from UNC Chapel Hill, and a second PhD in Business Administration from Duke (at the urging of Daniel Kahneman). He previously held the Alfred P. Sloan Professorship of Behavioral Economics at MIT (1998-2008). He wrote the “Ask Ariely” advice column in the Wall Street Journal (2012-2022). His interest in irrational decision-making arose from his recovery from severe burn injuries.
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