Home > Business, English > Irrational Beings – Susceptibility in Decision Making

Irrational Beings – Susceptibility in Decision Making

If y/a = Z, and (y+x)/a = Z, (where Z doesn’t equal 0) then we could logically assume that the value of x = 0, right? When it comes to decision-making and behavioral economics, the answer many times is no.  x could have a significant value in our decision process. Our brains are susceptible to influences that cannot rationally be explained. In the video below, you will see this in more detail. It is interesting to understand it for the applications that it could lead in the formation of pricing structures, establishment of public policy, and many other areas.

Dan Ariely asks, Are we in control of our decisions?

Categories: Business, English
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