Dan Ariely
From Wikipedia:
Dan Ariely is the James B. Duke Professor of Behavioral Economics at Duke University. He also holds an appointment at the MIT Media Lab where he is the head of the eRationality research group. He was formerly the Alfred P. Sloan Professor of Behavioral Economics at MIT Sloan School of Management.
Dan Ariely grew up in Israel after birth in New York. In his senior year of high school, Ariely was active in Hanoar Haoved Vehalomed, an Israeli youth movement. While he was preparing a ktovet esh (fire inscription) for a traditional nighttime ceremony, the flammable materials he was mixing exploded, causing third-degree burns to over 70 percent of his body.[
Ariely recovered and went on to graduate from Tel Aviv University and received a Ph.D. and M.A. in cognitive psychology from the University of North Carolina at Chapel Hill, and a Ph.D. in business from Duke University. His research focuses on discovering and measuring how people make decisions. He models the human decision making process and in particular the irrational decisions that we all make every day.
Ariely is the author of the book, Predictably Irrational: The Hidden Forces That Shape Our Decisions, which was published on February 19, 2008 by HarperCollins. When asked whether reading Predictably Irrational and understanding one's irrational behaviors could make a person's life worse (such as by defeating the benefits of a placebo), Ariely responded that there could be a short term cost, but that there would also likely be longterm benefits, and that reading his book would not make a person worse off.
“If we all make systematic mistakes in our decisions, then why not develop new strategies, tools, and methods to help us make better decisions and improve our overall well-being? That's exactly the meaning of free lunches- the idea that there are tools, methods, and policies that can help all of us make better decisions and as a consequence achieve what we desire-pg. 241”
“Standard economics assumes that we are rational... But, as the results presented in this book (and others) show, we are far less rational in our decision making... Our irrational behaviors arevneither random nor senseless- they are systematic and predictable. We all make the same types of mistakes over and over, because of he basic wiring of our brains.-pg. 239”
“Moreover, grandmothers of students who aren't doing so well in class are at even higher risk - students who are failing are fifty times more likely to lose a grandmother compared with non-failing students. In a paper exploring this sad connection, Adam speculates that the phenomenon is due to intrafamilial dynamics, which is to say, students' grandmothers care so much about their grandchildren that they worry themselves to death over the outcome of exams.”
“One percent of people will always be honest and never steal," the locksmith said. "Another one percent will always be dishonest and always try to pick your lock and steal your television. And the rest will be honest as long as the conditions are right - but if they are tempted enough, they'll be dishonest too. Locks won't protect you from the thieves, who can get in your house if they really want to. They will only protect you from the mostly honest people who might be tempted to try your door if it had no lock".”
“[..] we human beings are ready and willing to steal something that does not explicitly reference monetary value - that is, something that lacks the face of a dead president.”
“A substantial amount of research over the past decade has reinforced the idea that although internal happiness can deviate from its "resting state" in reaction to life events, it usually returns toward its baseline over time.”
“One fall day in Boston, a tall mechanical engineering student named Joe entered the student union at Harvard University. He was all ambition and acne”
“Maybe we feel meaning only when we deal with something bigger. Perhaps we hope that someone else, especially someone important to us, will ascribe value to what we've produced? Maybe we need the illusion that our work might one day matter to many people. That it might be of some value in the big, broad world out there [...]? Most likely it is all of these. But fundamentally, I think that almost any aspect of meaning [...] can be sufficient to drive our behaviour. As long as we are doing something that is somewhat connected to our self image, it can fuel our motivation and get us to work much harder.”
“We all want explanations for why we behave as we do and for the ways the world around us functions. Even when our feeble explanations have little to do with reality. We’re storytelling creatures by nature, and we tell ourselves story after story until we come up with an explanation that we like and that sounds reasonable enough to believe. And when the story portrays us in a more glowing and positive light, so much the better.”
“But because human being tend to focus on short-term benefits and our own immediate needs, such tragedies of the commons occur frequently .”
“Without constant suspicion, we can get more out of our exchanges with others while spending less time making sure that others will fulfill their promise to us.”
“human beings are inherently social and trusting animals.”
“Some special conpanies see trust as the pulic good.”
“one that we are just beginning to understand- is that trust, once eroded, is very hard to restore.”
“that when given the opportunity, many honest people will cheat.”
“individuals are honest only to the extent that suits them (including their desire to please others)”
“we usually think of ourselves as sitting the driver's seat, with ultimate control over the decisions we made and the direction our life takes; but, alas, this perception has more to do with our desires-with how we want to view ourselves-than with reality”
“The more cashless our society becomes, the more our moral compass slips.”
“To summarize, using money to motivate people can be a double-edged sword. For tasks that require cognitive ability, low to moderate performance-based incentives can help. But when the incentive level is very high, it can command too much attention and thereby distract the person’s mind with thoughts about the reward. This can create stress and ultimately reduce the level of performance.”
“But suppose we are nothing more than the sum of our first, naive, random behaviors. What then?”
“...[T]he distance Boston drivers generally maintain from the car in front of them is visible only with a good microscope.”
“...[D]ivision of labor, in my mind, is one of the dangers of work-based technology. Modern IT infrastructure allows us to break projects into very small, discrete parts and assign each person to do only one of the many parts. In so doing, companies run the risk of taking away employees' sense of the big picture, purpose, and sense of completion.”