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Predictably Irrational⚓︎

I picked up this circa 2021 January just around the time when corona second wave hits India rapidly. This book is pretty intresting as it talks and demonstrates how human thought process works.

1.The Truth About Relativity⚓︎

tl;dr
  • Humans can't decide on absolute terms and need to know the relative advantage of one over the other to make a choice. In other words, we are good at eliminating.
  • We do not just compare, but we do compare things which are more easily comparable, thus by planting a decoy1 it is easy to let one pick what we want them to pick.
  • The more we have, the more we want. And the only cure is to break the cycle of relativity.

2.The Fallacy Of Supply And Demand⚓︎

tl;dr

  • Great Law of Human Action: In order to make a man covet3 a thing, it is only necessary to make the thing difficult to attain.

  • Arbitrary Coherence: It's how we relatively find the value of something regardless of the aboslute value of it not just in present, but also in future; once we are anchored2 to arbitrary value in the first place due to the phenomenon called Imprinting4.

  1. Decoy refers to a less potential equivalent member. ↩

  2. An arbitrary benchmark. ↩

  3. Envy is a feeling of discontent and resentment based on someone else's possessions, abilities, or status, while covet is wishing, longing, or craving for something that belongs to someone else. ↩

  4. It is defined as a process whereby, during a brief period of susceptibility, a focal entity or actor (such as an industry, organization, or an individual) develops characteristics that reflect prominent features of the environment, and these characteristics continue to persist despite significant environmental changes in subsequent periods. Source: Wikipedia ↩

Last update: 2021-06-21
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