cool read on irrationality

[malkin]

...For example he explains how we like to make choices by comparison, because we have difficulty assessing value without something to compare with. Given a choice between 2 options A and B that are hard to compare, we try to compare but just have to make a choice in the end. Given a third option C, which is an obviously inferior version of B, we will tend to choose B over A, reasoning (maybe) "well, I don't know much about A, but I do know that B is better than C, so B can't be a bad choice."

He actually uses a real subscription ad for the Economist to show this: he was wondering why they had both a internet-only option for 60$ (A), an internet-and-print option for 120 $ (B) and a print-only option for 120 $ (C), the same price as B. Why would anyone choose C, when you get more for the same price by choosing B? The answer is that nobody did choose C, but the existence of the option and the comparison caused more people to choose B, which was the most expensive option.

B is perfectly rational, because then you can read the Economist both in you bathtub and at your computer in the office when you are supposed to be working!

[smilingcat]

Thankful for irrationality. It makes the world a more interesting place to live. It's also related to chaos.

Can you imagine if our world was filled with Mr. Spock kind of people (sorry I'm no trekkie so don't know what his species is called).

Bit of crazy making is fine with me. And no I sure wouldn't choose option C. nor option B. I'm a cheapster so I go with option A.

Smilingcat

[lph]

Yeah. what I liked most about his book was that he doesn't make a point about how silly and stupid it is to be irrational, just that that is how things are, we're all built that way, and it can be really helpful to realize it in advance in certain situations. Nothing wrong with being a little irrational, unless you believe that you always make rational choices Something tells me women are better at perceiving this.