Ever since the blogs and books of Tim Harford introduced me to the intriguing world of Behavioural Economics, I have been on the lookout for more stuff on this subject. "The Art of Thinking Clearly" by Rolf Dobelli is another excellent book in this series.
The book has 99 chapters, each precisly 2 and half pages long. Each chapter begins with a real-world example (sometimes companies offer us free gifts like free sachets of shampoo), the economic principle behind the action (Reciprocity) and why they do it (accepting a free gift subsconsciously makes us feel bound to purchase whatever the company wants to sell later). In a few cases, the author also provides
advice as to how to avoid the pitfalls (don't accept anything for free). The book makes for a very informative reading and opens our eyes to how the world around us operates.
A must-read for everyone, but especially so for those who interact with other people on a regular basis.
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