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

Hypernudging in the changing European regulatory landscape for digital markets

“…Simon understood that people are boundedly rational, and their decision‐making is limited by environmental and cognitive constraints (Ariely, 2009). This laid the groundwork for the research of Daniel Kahneman and Amos Tversky, who established the heuristics and biases approach (Tversky & Kahneman, 1974).…”

“…As early as 1936, Keynes referred to these factors as "animal spirits" (Keynes, 2018, p. 141), but the journey toward understanding economic actors' behavior set-off with Herbert Simon's bounded rationality framework: …the task is to replace the global rationality of economic man with the kind of rational behaviour that is compatible with the access to information and the computational capacities that are actually possessed by organisms, including man, in the kinds of environments in which such organisms exist. (Simon, 1955, p. 99) Simon understood that people are boundedly rational, and their decision-making is limited by environmental and cognitive constraints (Ariely, 2009). This laid the groundwork for the research of Daniel Kahneman and Amos Tversky, who established the heuristics and biases approach (Tversky & Kahneman, 1974).…”

Interacting with food: Tasting with the hands

“…There are likely to be several relatively independent factors influencing the way in which diners respond to the material properties of cutlery: These include everything from the ostentation that may be associated with the use of certain expensive materials (e.g., consider the impression made by gold cutlery; Aldersey-Williams, 2011; cf. Ariely, 2008;Carvalho and Spence, 2021) through to the way in which the cutlery reacts with the food itself. For instance, steel knives may react with fish, which is often aggravated by the addition of lemon juice (Petroski, 1994, p. 149).…”

Does Behavioral Economics substitute or complement Neoclassical Economics? Rethinking the behavioral revolution from a contextualist approach

“…The focus of the analysis, again, is not the agent, but rather the incentive structure of a specific socio-institutional context. One of the problems is that neoclassical models assume that we are all potential rogues (Ariely, 2008(Ariely, , 2012; that everyone can be a transgressor of norms (legal and moral), as long as the transgression is profitable (Becker, 1993;Rose-Ackerman, 1975). While it is true that harder punishments might diminish criminal and corrupt behavior, this is not the whole story.…”