Wednesday, June 30, 2010

Sway: The Irresistible Pull of Irrational Behavior

Sway is a great book not unlike Dan Ariely’s Predictably Irrational. It further details that we are irrational beings and I cannot help but like the book because it affirms me in my long held beliefs. Yes, like most other people, I listen more to opinions which I already agree with, than with opinions that I don’t agree with. The entire news industry is based on that behavior. The authors of Sway call that the diagnosis bias.

The three main topics covered in the book are Loss aversion, Value Attribution, and Diagnosis bias.

Loss Aversion

We value what we have more than what we could get. If the price of eggs go up the sales fall 2.5 times as much as the sales would increase with a comparatively fall in price.

Value Attribution

We imbue objects and people with qualities base on first impressions. That is why you want to be well dressed for that job interview.

Diagnosis bias

We label people. Most interestingly, we act our labels. In order to succeed at work, its in your best interest to be labeled a ‘rock star’ because then you will start acting like one. Yes, smiling also makes you happy. At least as much as being happy makes you smile.


The book website

SWAY- The Irresistible Pull of Irrational Behavior - Ori Brafman and Rom Brafman


A couple of reviews/Summaries