HOW IRRATIONAL ARE WE? CRITICAL NOTICE OF DAN ARIELY, PREDICTABLY IRRATIONAL: THE HIDDEN FORCES THAT SHAPE OUR DECISIONS.

The article focuses on the assessment of people's irrationality which is portrayed in the book "Predictably Irrational:The Hidden Forces That Shape Our Decisions," by Dan Ariely. Irrationality is examined within the contexts of philosophy and economics. It discusses how consumers make irrational choices due to decoys, advertising, virtual ownership, and self-herding. It delineates how consumers are lured to irrationality whenever they encounter free goods and services. The association between social norms and rationality are also examined. Several examples that illustrate the irrationality of consumers are also provided.