Super Irrational at the Supermarket - Dan Ariely

Dan Ariely highlights our irrationality at the supermarket in this brief, but interesting video. Why do we think bigger is always a better deal, even if it isn't? Would love to see him take a trip to one of the warehouse stores where, in my opinion, irrationality abounds. I look forward to Ariely's full article in the July-August HBR.

Recommended Reading: The Marketplace of Perceptions

I've written a lot about deferred gratification, and trade offs, and also about the importance of reading the fine print when making decisions. I recently came across this April 2006 cover article in Harvard Magazine by Craig Lambert discussing how we make economic choices, and the external forces that shape those decisions. It's fascinating reading. What do you think?

"Behavioral economics explains why we procrastinate, buy, borrow, and grab chocolate on the spur of the moment" Read more...