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Posts Tagged ‘behavioural economics’


The (Honest) Truth About Dishonesty
Dan Ariely | Harper Collins | Rs 399

Most people cheat. Ask insurance companies. When people are faced with loss of property due to robbery many exaggerate their loss by 10 to 15 per cent: A 32-inch TV becomes 40-inches and an 18k necklace becomes 22k. You are visiting your dentist. He tells you that you have a miniscule crack in tooth enamel. He can repair it with the state-of-the art machine he’s just bought. You agree to it. A few months later you have to have your tooth out. But the fact of the matter is, there was no need to treat the tooth fissure in the first place. Would you fault the dentist? Dan Ariely, professor of psychology and behavioural economics at Duke University, provides the answers as to why we act the way we do and what we can do to avoid it.

(The above review appeared in the Saturday edition of the Mail Today, New Delhi, dated 25 August 2012)

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