money: benefits of, 86 dishonesty with nonmonetary objects vs., 217-30 doing away with, 86—88 impact of mere mention of, 73-75 switch away from, to electronic instruments, 230 Montague, Latané, 166-68 Montague, Read, 166-68 moral benchmarks, dishonesty curbed morality: by contemplation of, 206-9, 213 in "cold" vs. aroused state, 94-95, 96,97 see also cheating on tests; dishonesty; honesty mortgages, 60 Moseley, J. B., 174-76 movie reviews, enjoyment affected by, 166 mummy powder, 177-78 museums, free-entrance days or times N at, 61 need for uniqueness, ordering food or drinks and, 237-38 New England Journal of Medicine, 175 New York Times, 4, 18, 21,122-23 Niskanen, William A., 205-6 "No Child Left Behind" policy, 85 Norton, Mike, 135 nucleus accumbens, 203, 208 O oaths, honesty and, 208-9, 211-13, 215 Ofek, Elie, 159-60, 264 online auctions, 135-36 open-source software, 81 options, 139-53 abundance of, in modern democracy, 148 aversion to loss and, 148-49 college students' choice of major and, 141-42 consciously closing, 150-51 "door game" and, 143-48 Index downside of, 140 important, vanishing of, 149 romantic relationships and, 142, 148, 150 sale prices and, 148-49 similar, choosing between, 151-53 Xiang Yu's story and, 139-40 ordering food or drinks, 231-38 enjoyment of choices and, 232, 235-36, 237, 238 need for uniqueness and, 237-38 out loud vs. in private, 231-32, 233-36,237-38 strategy for, 238 Orhun, Yesim, 136, 264-65 osteoarthritis, arthroscopic knee surgery and, 174-76 outsourcing, 81-82 ownership, 127-38 P 276 aversion to loss and, 134,137, 138 Duke University basketball tickets and,127-33 of points of view, 137-38 pride of, putting work into something and,135 "trial" promotions and, 136-37 value in owner's eyes increased by, 129-35 virtual, online auctions and, 135-36 pain, experience of, xiii-xiv, xvi-xvii expectation and, 179 painkillers: epidural, during childbirth, 103-4 price and efficacy of, 180-84 passion: underprediction of effect of, 98-99 see also arousal pay, see compensation; salaries pearls, 23-25 black, demand for, 24-25, 26 Pepsi, taste tests of Coke and, 166-68 perception: expectations and, 155-72; see also expectations; taste inherent biases in, xvi-xvii Perfectly Legal (Johnston), 204
personal lives: arbitrary coherence and, 43-45 separation of social and market norms and, 67-69, 75-76, 77-78 petroleum geologists, decline of ethics and values among, 211 pharmaceuticals, 210 marketing hype and efficacy of, 190-91 price and efficacy of, 180-84, 190 Pittinsky, Todd, 169 Pittman, Bob, 60 placebo effect, 173-94 author's experience with Jobst suit and,192-94 conditioning and, 179 energy drinks and, 184-87 faith in drug, procedure, or caregiver and,179 Gerbi's worm secretions and, 177 knowingly treating patients with, 187-90 marketing hype and, 186-87,190-91 moral dilemmas in experiments on, 191, 194 mummy powder and, 177-78 origin of term, 176-77 pharmaceuticals and, 180-84, 190 power of suggestion and, 178-79 price and, 176,180-87,190 royal touch and, 188 surgical procedures and, 173-76, 178, 191 pleasure, spending decisions and, 44 pleasure centers in brain, 168 poetry reading experiment, 40-42 points of view: expectations and, 155-57 ownership of, 137-38 pork-barrel spending, 204-5 Prelec, Drazen, 26, 27, 39, 265 presentation, taste of food and, 165 preventive medicine, 110-11, 117-21 see also health care prices: anchoring and, 25-36, 45-47 arbitrary coherence and, 26-30, 45-47 Index demand and changes in, 46-47 high, desirability of a product and, 24-25 of housing, 30-31 implied difference in quality and, 180 manufacturer's suggested retail (MSRP),30, 45 placebo effect and, 176, 180-87, 190 supply and demand and, 45-46 switching from old to new anchors and,31-36 upscale coffee ambience and, 39, 159-60 see also FREE! procrastination, 109-26 effectiveness of external voice and, 116-17, 118 health care and, 110-11, 117-21 recognizing and admitting problem with, 115-16 root of word, 111 routine automobile maintenance and, 119-21 setting one's own deadlines and, 112-16, 117, 118-19 of university students, 111-16 productivity, social norms in workplace and,80-84 profession, origin of word, 209 professional ethics, 215 attempts at improvement of, 213-14 decline in, 209-11 professional oaths, 208-9, 213 purchases, price imprinting and, 30 Q Qin (Ch'in) dynasty, 139 R 277 Rapp, Gregg, 4 rational economic model, xix, xx, 239-40 reciprocity, social vs. market norms and,68-69 regulations, self-destructive behaviors restrained by, 118
- Page 2 and 3:
USA $25.95 CANADA $27.95 • Why do
- Page 4 and 5:
Predictably Irrational—it's not w
- Page 7 and 8:
predictably irrational The Hidden F
- Page 9:
To my mentors, colleagues, and stud
- Page 12 and 13:
contents CHAPTER 4 The Cost of Soci
- Page 15 and 16:
Introduction How an Injury Led Me t
- Page 17 and 18:
introduction sion of a large magnes
- Page 19 and 20:
introduction profoundly changed my
- Page 21 and 22:
introduction my results, in the hop
- Page 23 and 24:
introduction confusing them. We can
- Page 25 and 26:
introduction As YOU WILL see in the
- Page 27:
predictably irrational
- Page 30 and 31:
predictably irrational I read these
- Page 32 and 33:
predictably irrational Which one wo
- Page 34 and 35:
predictably irrational Would the st
- Page 36 and 37:
predictably irrational incredulousl
- Page 38 and 39:
predictably irrational the three op
- Page 40 and 41:
predictably irrational Allen with h
- Page 42 and 43:
predictably irrational nary student
- Page 44 and 45:
predictably irrational It was for g
- Page 46 and 47:
predictably irrational pushing towa
- Page 48 and 49:
predictably irrational your suit. Y
- Page 51 and 52:
CHAPTER 2 The Fallacy of Supply and
- Page 53 and 54:
the fallacy of supply and demand Sa
- Page 55 and 56:
the fallacy of supply and demand an
- Page 57 and 58:
the fallacy of supply and demand Av
- Page 59 and 60:
the fallacy of supply and demand Te
- Page 61 and 62:
the fallacy of supply and demand we
- Page 63 and 64:
the fallacy of supply and demand so
- Page 65 and 66:
the fallacy of supply and demand Bu
- Page 67 and 68:
the fallacy of supply and demand Wh
- Page 69 and 70:
the fallacy of supply and demand an
- Page 71 and 72:
the fallacy of supply and demand wa
- Page 73 and 74:
the fallacy of supply and demand we
- Page 75 and 76:
the fallacy of supply and demand Th
- Page 77 and 78:
CHAPTER 3 The Cost of Zero Cost Why
- Page 79 and 80:
the cost of zero cost has huge impl
- Page 81 and 82:
the cost of zero cost To replicate
- Page 83 and 84:
the cost of zero cost decision—th
- Page 85 and 86:
the cost of zero cost one of the ki
- Page 87 and 88:
the cost of zero cost tomer bought
- Page 89 and 90:
the cost of zero cost broke—but t
- Page 91 and 92:
the cost of zero cost checks, diabe
- Page 93:
the cost of zero cost pected pleasu
- Page 96 and 97:
predictably irrational up red-faced
- Page 98 and 99:
predictably irrational In this expe
- Page 100 and 101:
predictably irrational that this wa
- Page 102 and 103:
predictably irrational even a small
- Page 104 and 105:
predictably irrational Yes, your da
- Page 106 and 107:
predictably irrational or to watch
- Page 108 and 109:
predictably irrational line—you m
- Page 110 and 111:
predictably irrational all, people
- Page 112 and 113:
predictably irrational trust? What
- Page 114 and 115:
predictably irrational education an
- Page 116 and 117:
predictably irrational The answer,
- Page 118 and 119:
predictably irrational were smack i
- Page 120 and 121:
predictably irrational darkened roo
- Page 122 and 123:
predictably irrational keys on the
- Page 124 and 125:
predictably irrational of erotic pi
- Page 126 and 127:
predictably irrational gaze back at
- Page 128 and 129:
predictably irrational unfamiliar?
- Page 130 and 131:
predictably irrational carrying a c
- Page 132 and 133:
predictably irrational be similar t
- Page 134 and 135:
APPENDIX: CHAPTER 5 A complete list
- Page 136 and 137:
predictably irrational TABLE 3 RATE
- Page 138 and 139:
predictably irrational had to have
- Page 140 and 141:
predictably irrational do family tr
- Page 142 and 143:
predictably irrational same experim
- Page 144 and 145:
predictably irrational deadlines at
- Page 146 and 147:
predictably irrational check, which
- Page 148 and 149:
predictably irrational the best way
- Page 150 and 151:
Savings predictably irrational We c
- Page 152 and 153:
Dear Sumi, predictably irrational T
- Page 154 and 155:
predictably irrational self-control
- Page 156 and 157:
predictably irrational outside the
- Page 158 and 159:
predictably irrational instance, si
- Page 160 and 161:
predictably irrational "All right,"
- Page 162 and 163:
predictably irrational Suppose you
- Page 164 and 165:
predictably irrational still the to
- Page 166 and 167:
predictably irrational idea—wheth
- Page 168 and 169:
predictably irrational antithetical
- Page 170 and 171:
predictably irrational likely end u
- Page 172 and 173:
predictably irrational the correspo
- Page 174 and 175:
predictably irrational this wasn't
- Page 176 and 177:
predictably irrational waste their
- Page 178 and 179:
predictably irrational game. It wil
- Page 180 and 181:
predictably irrational Here's anoth
- Page 183 and 184:
C HAPTE R 9 The Effect of Expectati
- Page 185 and 186:
the effect of expectations to such
- Page 187 and 188:
the effect of expectations Mina and
- Page 189 and 190:
the effect of expectations will be
- Page 191 and 192:
the effect of expectations get rid
- Page 193 and 194:
the effect of expectations by chang
- Page 195 and 196:
the effect of expectations the way,
- Page 197 and 198:
the effect of expectations Research
- Page 199 and 200:
the effect of expectations the crux
- Page 201 and 202:
C HAPTE R I O The Power of Price Wh
- Page 203 and 204:
the power of price removed. The thi
- Page 205 and 206:
the power of price funerals. By 178
- Page 207 and 208:
the power of price better. And if y
- Page 209 and 210:
the power of price the common cold
- Page 211 and 212:
the power of price with the same gr
- Page 213 and 214:
the power of price workouts. Both g
- Page 215 and 216:
the power of price sage on the bott
- Page 217 and 218:
the power of price is nothing "just
- Page 219 and 220:
the power of price about placebos a
- Page 221 and 222:
the power of price ing wasn't silky
- Page 223 and 224:
CHAPTER It The Context of Our Chara
- Page 225 and 226:
the context of our character, part
- Page 227 and 228:
the context of our character, part
- Page 229 and 230:
the context of our character, part
- Page 231 and 232:
the context of our character, part
- Page 233 and 234:
the context of our character, part
- Page 235 and 236:
the context of our character, part
- Page 237 and 238:
the context of our character, part
- Page 239 and 240:
the context of our character, part
- Page 241 and 242:
the context of our character, part
- Page 243 and 244:
the context of our character, part
- Page 245 and 246:
The Context of Our Character, Part
- Page 247 and 248:
the context of our character, part
- Page 249 and 250:
the context of our character, part
- Page 251 and 252:
the context of our character, part
- Page 253 and 254: the context of our character, part
- Page 255 and 256: the context of our character, part
- Page 257 and 258: the context of our character, part
- Page 259 and 260: CHAPTER 1 3 Beer and Free Lunches W
- Page 261 and 262: eer and free lunches the beer ourse
- Page 263 and 264: eer and free lunches Jonathan and I
- Page 265 and 266: eer and free lunches who was his wi
- Page 267 and 268: eer and free lunches But there's a
- Page 269 and 270: eer and free lunches new strategies
- Page 271 and 272: eer and free lunches we should cons
- Page 273 and 274: Thanks Over the years I have been f
- Page 275: thanks time in the institute's kitc
- Page 278 and 279: list of collaborators match—an ov
- Page 280 and 281: list of collaborators George is cur
- Page 282 and 283: list of collaborators working toget
- Page 284 and 285: notes 9. Sarah Bakewell, "Cooking w
- Page 287 and 288: Bibliography and Additional Reading
- Page 289 and 290: ibliography and additional readings
- Page 291 and 292: ibliography and additional readings
- Page 293 and 294: ibliography and additional readings
- Page 295: ibliography and additional readings
- Page 298 and 299: arousal (continued) underprediction
- Page 300 and 301: Descartes, Rene, 43 diet, procrasti
- Page 302 and 303: gifts: Burning Man based on exchang
- Page 306 and 307: elativity, 1-21 bread-making machin
- Page 308: taste (continued) exotic-sounding i