What motivates us into doing or avoiding things? Why do our predictions not reflect reality?
Traditional economics claims humans are rational actors. But is this true? Think about the last time you bought something expensive; was that item really the best choice based on value and utility? We all fall prey to irrationality and biases and make decisions based on them. This contradicts the wisdom of traditional economics.
Outsmart Your Brain challenges everyday wisdom with the help of psychology and economics, commonly known as behavioral economics. Here you'll find counterintuitive answers to the motivations behind our actions.
This book is for those who don't fear reality, have inquisitive an nature, enjoy challenges, and like to understand the real motivations of human nature – who like to outsmart their brains.
Why do smart people make irrational decisions so often?
- Understand why people value some things more than others.
- How to use incentives to actually achieve what you want.
- Understand the role dopamine plays in your decision-making to be more vigilant about your snap judgments.
- Get around your natural biases related to loss, ownership, and risk.
This compilation of experiments and studies mixed with the author's wit will shift your understanding of human behavior. By recognizing the biases mentioned in this book:
- You can make better decisions – be it in business, personal life, or community.
- Avoid the serious consequences that certain biases lead us into.
- You'll know how people think, so you can help others make choices that are the best for them.
- Learn the difference between perceived and actual risks and use this knowledge to your advantage.