Rabu, 22 Maret 2017

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File Size: 1531 KB

Print Length: 434 pages

Publisher: Rowman & Littlefield Publishers; 4 edition (May 22, 2014)

Publication Date: May 22, 2014

Sold by: Amazon Digital Services LLC

Language: English

ASIN: B00KNO85G4

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Download Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets

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Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets

Review

"To be useful, a trading methodology must be understood.  Simplicity is a bonus. Harmonic Trading: Profiting from the Natural Order of the Financial Markets, Vol. 1 by Scott M. Carney succeeds on both counts. This first volume of a promising series on harmonic trading will benefit traders seeking to improve their models."   --George A. Schade Jr., CMT, Stock Futures and Options, January 2011.  

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From the Back Cover

The Definitive Introduction to Harmonic Trading--Bythe Originator of This Approach, Scott Carney! “I have always found it fascinating that, in the field of securities analysis, so few important gains have been made in the body of knowledge since the 1920s and 1930s. There are a small number of modern-day pioneers among us who must be sought out. Scott Carney is one of those pioneers who has devoted himself to the task of uncovering the hidden logic in the movements of the markets.Harmonic Trading: Volume 1provides a system of critical decision-making based on the natural order of life, which allows investors to replace emotions and guesswork with logic and symmetry so necessary to becoming a successful investor.--PAUL DESMOND, President of Lowry Research Corporation “I am well aware of the author's dedication and degree of excellence in his work. Scott has not only thoroughly researched and covered the subject well, he has taken that most important step of showing you how to use these tools and apply them to your trading and investing. I currently oversee the management of more than $3 billion in assets using a technical model. I know firsthand that a trading methodology that does not have buy, sell, and trade-up rules will never be successful. Every effort needs to be made to make the process free of subjectivity.Harmonic Tradingwill help you organize your trading and keep you in sync with the markets. No one has done this better than Scott.--GREG MORRIS, Chief Technical Analyst, Stadion Money Management, and author ofCandlestick Charting ExplainedandThe Complete Guide to Market Breadth Indicators Harmonic Trading creator Scott Carney unveils the entire methodology to turn patterns into profits. These strategies consistently identify the price levels and market turning points that reveal the natural order within the chaos of the financial markets. Analogous to the predictable behavior of many of life's natural processes, Harmonic Trading examines similar relationships within the financial markets to define profitable opportunities in an unprecedented manner. Carney introduces new discoveries such as the Bat pattern, Alternate AB=CD structures, the 0.886 retracement, and more. These strategies are entirely new to the trading community, and they represent a profound advancement beyond all other Fibonacci methodologies! After you've discovered how to identify harmonic patterns, Carney presents a complete methodology for applying them in trade execution and handling them throughout the entire trade management process. From savage bear to rampaging bull, Harmonic Trading can be employed in all markets--equities, currencies, commodities, and foreign markets--for both short- and long-term timeframes.

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Product details

Paperback: 288 pages

Publisher: FT Press; 1 edition (April 22, 2010)

Language: English

ISBN-10: 0137051506

ISBN-13: 978-0137051502

Product Dimensions:

8.4 x 0.6 x 10.9 inches

Shipping Weight: 1.4 pounds (View shipping rates and policies)

Average Customer Review:

3.6 out of 5 stars

43 customer reviews

Amazon Best Sellers Rank:

#393,422 in Books (See Top 100 in Books)

Until purchasing and studying this publication I really had not heard much about Harmonic Trading. This particular publication is probably the only treatment of the subject matter in this way.A background in timing and trading in the market using Fibonacci analysis applied to price chart patterns is quite helpful.This volume, Volume 1 is well written and eminently readable and a worthwhile addition to any traders/investors library.Many of the price chart patterns are common knowledge in certain areas of the trading community.

A lot has been written and taught to traders about ABC, Gartley, Elliott Wave, and other patterns. Scott Carney develops robust definitions, rules, methods, and applications that seem to coherently bring this broad and often confusing subject area to clarity. I found his books enlightening and helpful. I was displeased by the number of mislabeled charts and typos in Volume 1 and found Volume 2 to be even more prolific in errors. This is too bad and preventable by the author taking time to adequately review his works and seek peer review before sending manuscripts to the publisher. Should the prospective reader want to better his/her understanding of harmonic patterns in trading, this book will help. I urge the trader to read both volumes, however, since the second pulls the information in the first volume together very well and presents some new and very interesting twists and applications.

Scott Carney has carefully used Fibonacci ratios to identify high probability trades as the ratios unfold in patterns he has either clarified (as in Gartley) or discovered outright. He recommends acting on the pattern after full completion. This book is a good foundation for volume two.

I have studied the markets since I was very young and have always sought out the most effective ways to trade. I was so relieved to find such a comprehensive and effective system without the large areas of gray, guesswork, and left to interpretation concepts I've encountered in other systems. I started with the free book on the website and then had to continue on to this one. With this book I learned the patterns and am able to identify them. Then I used the Harmonic Analyzer software to supplement identification and then compared what I had learned to the software results. The book has given me the confidence and certainty in my ability to identify and trade patterns successfully. I am already seeing improvement in my trading and am excited to apply the next book as well.

Awesome book

I've recently discovered harmonic trading. I have been trading forex for almost two years now. My trading results have been mixed. I read through this book in less than two days. I recommend this book if you are serious about harmonic trading. The explanations about these patterns are well worth the cost of the book.

Must have! This book provides an information on AB=CD, Gartley, Bat, Crab, and Butterfly patterns not covered in his other books. I really appreciated the time was dedicated to the book. It is very detailed. Charts are very big and easy to read and understand. My favorite part of this book is a lot of explanation and examples. Scott did not missed anything. You need to buy "Harmonic Trading volume 1" and "Harmonic Trading" also for the complete patterns. They are very useful. Scott gave the citation to his letters with target. This books are the most detailed on how Fibonacci numbers really can work for you! I also like a lot of very recent examples!I liked the chapter on pattern violations.

The method Carney uses is great. I'm new at this and I do have to say that I learned alot. however, there were too many mistakes. I found it odd being that the method demands such scrupolous attention to detail. Most of the mistakes were on the charts and examples, making it for a slower read. Another thing I didn't like about the book is that the Trade Execution and the Management System chapters were too abstract, making it a little hard to undertand. I was waiting for some practical examples, that never came. However, the book's theory is excellent I do have to say. Harmonic trading is deffinately a fantastic way to trade. And, I am looking forward to reading Volume 2.

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Sabtu, 04 Februari 2017

Ebook Your Guide to Downtown Denise Scott Brown: Hintergrund 56

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About the Author

Jeremy Eric Tenenbaum is a writer, visual artist, and graphic designer who has worked for both Venturi, Scott Brown and Associates and its successor, VSBA Architects and Planners for more than two decades. Angelika Fitz is director and Katharina Ritter is a program coordinator at Architekturzentrum Wien, the national architecture museum of Austria which showcases twentieth-and twenty-first-century architecture and urban design.  

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Product details

Paperback: 173 pages

Publisher: Park Books (March 15, 2019)

Language: English

ISBN-10: 3038601276

ISBN-13: 978-3038601272

Product Dimensions:

6.5 x 0.8 x 9.5 inches

Shipping Weight: 1 pounds (View shipping rates and policies)

Average Customer Review:

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Amazon Best Sellers Rank:

#313,865 in Books (See Top 100 in Books)

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Selasa, 24 Januari 2017

Ebook , by David McRaney

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Product details

File Size: 587 KB

Print Length: 320 pages

Publisher: Avery (October 27, 2011)

Publication Date: October 27, 2011

Sold by: Penguin Group (USA) LLC

Language: English

ASIN: B0052RE5MU

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An interesting read, and yes, it does come across as many "blog posts" cobbled together. Surely it sparks interest and leaves us panting for more at times. That's ok. Here is a tour of various mind traps, often called cognitive biases....several will be familiar to readers of this genre. Still, a nice way to kill an afternoon or a pleasant and educational evening.

I have read about it on LinkedIn and was really inerested to read it. Bad decisionThis "book" was supposed to be easy-reading explanation of key outcomes of extensive study made by Nobel prize winners on biases.In fact the way this release is written is the AUTHOR BIAS.Instead of providing scientific facts and bright examples he is trying to share personal interpretation - and results are not acceptable.Key narrative is: "YOU are dellusional selfless immature "kid" who is easily manipulated and needs guidance".And the last thing I want is somebody to devaluate personal developent in a toxic way.AVOID this book at any cost. Wish I could get back my money spent on this.

paid $2 for some book to tell me i'm not smart then realized my wife tells me that for free.i guess i needed the book after all.

Every chapter offers an astounding bit of insight into human behavior and psychology. I can not look at myself or others in the way that I was accustomed. I believe it has changed my perception for the better. This is one that is worth reading again.

Let's suppose that you imagine yourself to be self-aware, intelligent, and reasonable enough to see through all the bunk dished up by our society, culture, and institutions. If that's the case, you'll find this good-humored and humbling book a revelation. I'm reading it a second time to review its lessons without laughing at myself quite as much as I did the first time through.

Love this book and its approach to the heuristics! Learned a lot about myself and others! Find myself analyzing situations and choices using what I have learned through this book! Cannot believe how easily we can be fooled. Feel the wiser not that I know I am not so smart!

Easy populist introduction to psychological delusions such as cognitive bias. Follow up by reading some professional (psychology, economics) books or papers or at least web documents, most are easy to understand, have vastly more details, and are less breezy than this book. Kahneman and Tversky are the gold standard pioneers in this field (six years after Tversky's death, Kahneman received the 2002 Nobel Prize in Economics for the work he did in collaboration with Tversky).

Learning about cognitive biases are an important part of developing self-awareness. They provide powerful insight into how we are all mislead by our thoughts and feelings.Listening to You Are Not So Smart is a great way to discover some of most common ways we naively delude ourselves into taking our imperfect interpretations of ourselves and other people. David McRaney's sarcastic sense of humor makes it a bit easier to swallow the bitter pills he asks us to swallow.I didn't connect with the professional narrator. I wish the author had decided to read it himself, but that tends to be my personal preference. If you find this to be the case, too, you might want to opt to read this one instead of listening to it.I would also recommend doling these lessons out over time instead of plowing straight through. Cracking personal illusions can be empowering in the long run, but dismantling too many of them at the same time felt a bit too vulnerable. It would also been helpful to get more specific strategies to compensate for the blind spots that are exposed.I think the book is intended to kick off the exploration, however, and I look forward to discovering more of the author's insights and ideas by visiting his blog.

Since I follow the website I figured I'd check out the book. Now I like to refer to this book as " a.k.a Everyday Life Explained". Ever wonder why people tend to do the dumb things they do? Ever wonder about your own tendencies? Ever wonder about how we make decisions in general? Read this book. It's written intelligently, with just enough humor to keep you engaged and content. A must read to know thyself better.

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Kamis, 05 Januari 2017

Download Ebook , by Martin Luther

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Publisher: Concordia Publishing House (April 24, 2019)

Publication Date: April 24, 2019

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Language: English

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Minggu, 01 Januari 2017

Get Free Ebook Dannemora: Two Escaped Killers, Three Weeks of Terror, and the Largest Manhunt Ever in New York State, by Charles A. Gardner

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Dannemora: Two Escaped Killers, Three Weeks of Terror, and the Largest Manhunt Ever in New York State, by Charles A. Gardner

Dannemora: Two Escaped Killers, Three Weeks of Terror, and the Largest Manhunt Ever in New York State, by Charles A. Gardner


Dannemora: Two Escaped Killers, Three Weeks of Terror, and the Largest Manhunt Ever in New York State, by Charles A. Gardner


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Dannemora: Two Escaped Killers, Three Weeks of Terror, and the Largest Manhunt Ever in New York State, by Charles A. Gardner

Review

Praise for Dannemora   “Some say the justice system doesn’t work or is warped. They may be partially correct. But there are those in the system who devote themselves tirelessly to make it work. If you want to know who they are, you must read this book. It is more than just a page-turner—it is a true story about people who are dedicated to seeking justice.” —New York Times bestselling author Robert K. Tanenbaum   “Charles Gardner’s eye-opening, provocative new book about the 2015 prison escape of convicted killers Richard Matt and David Sweat is a unique perspective from this author, a lifelong resident of New York’s North Country and 25-year corrections professional. Gardner answers important questions as to how the violent criminals were able to break out of a maximum-security facility, who helped them, and why. The book shows the heroic behavior of law enforcement as well as local civilians during the three-week manhunt. With meticulous detail, Dannemora provides a dramatic timeline of a true story, full of shocking twists and turns, and close-up portraits of the people who lived it. I was deeply engrossed in this story, which I thought I knew—that is, until now.” —New York Times bestselling author M. William Phelps   “Dannemora is an exciting read, full of shocking revelations about the prison escape of two stone-cold killers, the high-level bad decisions that allowed it to happen, and the heroic law enforcement efforts in the three-week manhunt. Charles Gardner takes us behind the scenes of a community under lockdown. Don’t miss this stunning true story.” —New York Times bestselling author Gregg Olsen“Gripping… Gardner’s own background as a former corrections officer in the New York state prison system enables him to focus on root causes that made the escape possible…True crime fans will be more than satisfied.” —Publishers Weekly    “Dramatic…. A true community insider’s perspective on a legendary manhunt.” —Booklist

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About the Author

Charles A. Gardner is a municipal court judge and retired correction training lieutenant in Malone, New York, the far-upstate town where he was born and raised. His twenty-five-year career in New York State Department of Corrections included working as a correction officer, sergeant, and lieutenant. He had experience working in medium- and maximum-security facilities including stints at Clinton Correctional Facility in Dannemora and the maximum-security prisons of Sing Sing, Bedford Hills, Great Meadow, and Upstate. Gardner served on the Department of Corrections' emergency response team (CERT), which played a critical role in the search for the 2015 prison escapees. He lives with his wife, Penny, and their Samoyeds, in the North Country. Visit him at www.charlesagardner.com.

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Product details

Hardcover: 272 pages

Publisher: Citadel (February 26, 2019)

Language: English

ISBN-10: 0806539240

ISBN-13: 978-0806539249

Product Dimensions:

6.2 x 1.1 x 9.3 inches

Shipping Weight: 1 pounds (View shipping rates and policies)

Average Customer Review:

4.6 out of 5 stars

22 customer reviews

Amazon Best Sellers Rank:

#4,180 in Books (See Top 100 in Books)

As someone who lives in the area of the escape & whose husband is a retired NYSDOCCS SGT, it was refreshing to read a book written with the sole purpose of exposing the truth & solidly backing the CO’s & all LEO’s involved in the story of a very tense 3 weeks. This story tells the escape plan & describes all of the main players in great detail. Readers will understand the financial & staff cutbacks that helped lead up to this unfortunate incident. The reader will also learn how Cuomo & Albany in General contributed to, but were never thrown under the bus for, Policies & Procedures they implemented. There are twists & turns in this story that MSM never reported. The author, Charles Gardner & his wife Penny, did their homework & research! This book will appeal to all LEO’s out there, as well as anyone who was caught up & mesmerized Nationwide as this manhunt unfolded. Charlie captured the appreciation the locals felt for the CERT Teams, NYSP, Border Patrol etc as they endured brutal conditions in the rugged Adirondack Mountains searching for 2 murderers. Even though we know the ending, it still is an exciting read. I highly recommend this book!

Major Guest’s book was excellent and told the escape story well from the Police perspective and beyond.This author goes into the Correctional perspectives and beyond, better explaining the results gained when correctional funds are cut and a do more with less mantra is embraced.Way too many DOCs are seeing budgets cut, with an out of sight, out of mind belief. Hopefully no other escapes or death result, but North Carolina, South Carolina, and Delaware prison systems have not been so fortunate.Thanks for the hue and cry!

We were both struck by the authenticity of Charlie Gardner’s Dannemora. We’ve both read a few books and seen Ben Stiller’s series on Dannemora and feel Mr. Gardner’s book is the most accessible of the lot. While understanding the need for a TV series to be commercially viable, Ben Stiller accentuates some of the more lurid details of the tale and some of the other books get bogged down in minutiae. Charlie Gardner tells the tale from both a local’s point of view and an insider’s unique perspective lending both veracity and compassion. You never are drawn into a false sense of relating to either of the escapees nor the culpable parties. The book also avoids long character exposes on any of the principle players but manages to maintain objectivity and a balanced view of the folks caught up in the mess. Perhaps the most striking sense is how so many people could have prevented the whole disaster by just follow the rules or speaking up. None of this feels like pure speculative hindsight. Again, Mr. Gardner places the blame by stating objective information as well as rightly placing compassion upon the communities that had to deal with the fallout as well as lauding the efforts of the agencies charged with the monumental tasks of dealing with the situation at hand and the aftermath. A very enjoyable read, highly recommended.-Dean and Tracie Arnold

I was taken with the information that Charlie Gardner provided in his book. Knowing what I know about the prison and the physical plant layout this book was written with a no holds barred attitude. The revelation of all the facts regarding the escape and the history which culminated in the escape kept this reader from setting the book down. Having lived through some of the tension that the area had to endure and the effects on so many people really made me appreciate Mr. Gardners willingness to "bare it all"! Thanks for putting it out there! Darn good book!!

This book is a "real and accurate account" of horror that we the people of the north country lived through when these two killers roamed through our back yards,our woods,and our lives during the month of June 2015. Mr Gardner captured the fear and the truth of the daily events leading up to the death of Matt and the shooting and capture of sweat. I highly recommend this book to anyone who wants to know the who,the where and the when. l personally had a part in this story and the professional way that my information was collected and presented was commendable. kudos to you Mr Gardner.......

Forget everything you saw on the news/made-for-TV-movie or read in newspapers/online! Looking for your next book to read? This one is a must! You will be blown away. True-crime enthusiasts will not be disappointed.

Amazing Job. I lived it and relived it through the book.

Just finished reading this wonderful book. Very well written with information about the manhunt for these escaped convicts. I could hardly put this book down even though I knew the ending. Thank you Mr. Gardner for this wonderful read.

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Sabtu, 31 Desember 2016

Free Ebook Predictably Irrational: The Hidden Forces That Shape Our Decisions

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Predictably Irrational: The Hidden Forces That Shape Our Decisions

From Publishers Weekly

Irrational behavior is a part of human nature, but as MIT professor Ariely has discovered in 20 years of researching behavioral economics, people tend to behave irrationally in a predictable fashion. Drawing on psychology and economics, behavioral economics can show us why cautious people make poor decisions about sex when aroused, why patients get greater relief from a more expensive drug over its cheaper counterpart and why honest people may steal office supplies or communal food, but not money. According to Ariely, our understanding of economics, now based on the assumption of a rational subject, should, in fact, be based on our systematic, unsurprising irrationality. Ariely argues that greater understanding of previously ignored or misunderstood forces (emotions, relativity and social norms) that influence our economic behavior brings a variety of opportunities for reexamining individual motivation and consumer choice, as well as economic and educational policy. Ariely's intelligent, exuberant style and thought-provoking arguments make for a fascinating, eye-opening read. (Feb.) Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

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Review

"Surprisingly entertaining. . . . Easy to read. . . . Ariely's book makes economics and the strange happenings of the human mind fun." (USA Today)"A marvelous book that is both thought provoking and highly entertaining, ranging from the power of placebos to the pleasures of Pepsi. Ariely unmasks the subtle but powerful tricks that our minds play on us, and shows us how we can prevent being fooled." (Jerome Groopman, New York Times bestselling author of How Doctors Think)"PREDICTABLY IRRATIONAL is a charmer-filled with clever experiments, engaging ideas, and delightful anecdotes. Dan Ariely is a wise and amusing guide to the foibles, errors, and bloopers of everyday decision-making." (Daniel Gilbert, Professor of Psychology, Harvard University and author of Stumbling on Happiness)"Dan Ariely's ingenious experiments explore deeply how our economic behavior is influenced by irrational forces and social norms. In a charmingly informal style that makes it accessible to a wide audience, PREDICTABLY IRRATIONAL provides a standing criticism to the explanatory power of rational egotistic choice." (Kenneth Arrow, Nobel Prize in Economics 1972, Professor of Economics Stanford University)"Inventive. . . . An accessible account. . . . Ariely is a more than capable storyteller . . . If only more researchers could write like this, the world would be a better place." (Financial Times)"In creative ways, author Dan Ariely puts rationality to the test. . . . New experiments and optimistic ideas tumble out of him, like water from a fountain." (Boston Globe)"Dan Ariely is a genius at understanding human behavior: no economist does a better job of uncovering and explaining the hidden reasons for the weird ways we act, in the marketplace and out. PREDICTABLY IRRATIONAL will reshape the way you see the world, and yourself, for good." (James Surowiecki, author of The Wisdom of Crowds)"PREDICTABLY IRRATIONAL is a scientific but imminently readable and decidedly insightful look into why we do what we do every day...and why, even though we 'know better,' we may never change." (Wenda Harris Millard, President, Media, Martha Stewart Living Omnimedia)"A fascinating romp through the science of decision-making that unmasks the ways that emotions, social norms, expectations, and context lead us astray." (Time magazine)"This is a wonderful, eye-opening book. Deep, readable, and providing refreshing evidence that there are domains and situations in which material incentives work in unexpected ways. We humans are humans, with qualities that can be destroyed by the introduction of economic gains. A must read!" (Nassim Nicholas Taleb, New York Times bestselling author of The Black Swan: The Impact of the Highly Improbable)

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Product details

Hardcover: 294 pages

Publisher: HarperCollins; 1 edition (February 19, 2008)

Language: English

ISBN-10: 006135323X

ISBN-13: 978-0061353239

Product Dimensions:

6.1 x 1 x 9 inches

Shipping Weight: 12 ounces (View shipping rates and policies)

Average Customer Review:

4.5 out of 5 stars

1,220 customer reviews

Amazon Best Sellers Rank:

#121,366 in Books (See Top 100 in Books)

Among the various books available that cover the topic of human behavior, Predictably Irrational is among the top ten (interested readers should also read Sway by Rom Brafman). It's not quite an economics book (for a much better analysis of the many failings of neoclassical economics, read Debunking Economics by Keen) and it's not quite a behavioral psychology book (read Sway) so it falls somewhere in the middle - and therein lies its main weakness.There are some very interesting anecdotes (for example, do you know why we think black pearls are valuable when originally no one wanted to buy them at any price?) and these are where most of the book's value lies.The principal weakness comes from Ariely's conclusions based on the work he's carried out. He acknowledges that we humans are "irrational" compared to the straw man of the "rational optimizer" beloved of neoclassical economic theory, but while some of his examples are interesting he fails to see the entire picture. Thus whereas Keen shows that the neoclassical model is computationally impossible, Ariely merely shows that we have different decision-making processes in two distinct contexts: interpersonal and financial. This is valid, but Ariely then goes on to show that he hasn't really explored the interpersonal context with any degree of rigor.A couple of examples will illustrate what I mean. In the first example Ariely talks about how companies strive to create a "social exchange" in the workplace because people generally work harder and more diligently in social exchange settings than in compensation-based settings. We can think of how we might keep on struggling to get a friend's piano up the stairs of a narrow apartment building long after we'd have given up if we were simply being paid $10 per hour by a stranger to perform the same task. So Ariely notes that companies try to exploit our social side in order to get more work out of us (he doesn't look at the ethics of this attempt, or even at its many infeasibilities). Then he suggests that in order to reinforce the social dynamic and avoid corrupting it with the financial dynamic (because it's not possible to combine the two) companies should not give bonuses but instead should send employees off on a paid-for vacation. The problem, of course, is that most employees don't want to be placed in a parent-child relationship. Most employees think of themselves as independent adults. Saying "here's a vacation we've arranged for you" violates an employee's independence. Worse still it assumes the employee's plans for their free time are irrelevant (the cost of leaving one's home, family, and friends for the duration of the enforced vacation are apparently zero where the company is concerned...). Obviously this recommendation would be disastrous under real-world conditions and one wonders how Ariely failed to think through his proposal.A second example of this failure to think things through comes with Ariely's analysis of cap-and-trade. Rightly he points out that when you set a price on something (in this case pollution) then people may elect to pay more in order to get more. Just as we might only take a single candy from a tray being passed around the group but might buy ten if the candies are being sold, so too might companies pollute less if pollution were a "social good" rather than a priced good. With cap-and-trade companies might simply elect to pay more in order to feel free to pollute more. So Ariely proposes making pollution a "social good." But again a moment's thought shows this to be absurd. Not only do we have far too many examples of companies being quite happy to pollute when it's a cost-free exercise, Ariely's own book shows that executives will ignore social factors when their focus in on financial rewards. As executives are almost exclusively motivated by fat financial rewards, the notion that they would take social norms into account when deciding whether or not (or how much) to pollute is like saying that investment bankers would put the needs of their clients and the financial system in general ahead of their own desire for the $100 million bonus they get from pushing CDOs onto unsuspecting dupes.So in the end the book is worth reading for its anecdotal value but not for Ariely's own conclusions or policy suggestions. He's not-quite an economist and not-quite a behavioral psychologist and ultimately that means he's not-quite useful as a guide to policy formulation on either the micro or the macro scales.

Alas, I read “Thinking, Fast and Slow (TFS)” before I read this book. So, a lot of stuff in this seemed to be a repetition.So, how is this different from TFS. While both the books are on the subject of Behavioral Economics, hower, Dan has kept the topics brief and discussions to the point, so that the interest is sustained. While he would have conducted innumerable number of experiments in course of the research, he has only referred to a select few in this book. And whatever his criteria for selection was, it was pretty good, as it kept the interest of the readers on. I would prefer it over TFSA brief overview of the interesting concepts in this book, which can of good use in product and pricing decisions are:Relativity – to make a line look smaller (or a product affordable), draw a bigger line next to it (or a more expensive model). You need not really put an effort to sell the expensive model, but it gives a relative idea. The important thing is that the products should be comparable, as human mind cannot function with incomparables.Anchoring – Daniel had labored on this a lot in his book TFS. For a consumer to make a purchase, an appropriate anchor is important, which could be even the MRP. So, low MRP does not necessarily help to sell. The interesting revelation was that “ our first decisions resonate over a long sequence of decisions”!! So, get the customer first. Of course, one can de-anchor (don’t know if there is a word like that), for which uncomparable variants need to be introduced (Starbucks case ) and for which its own MRP becomes the anchorReaction to price changes : It lasts only as long as the memory of the old price persists, demand soon normalizesZero cost : Free is a powerful tool, although expensive to the consumer ( Woody Allens quote that “The most expensive sex is free sex” is so apt, although that was quoted more from the social norms context). So, make the consumers buy something for nothing. Add freebies for upselling, nothing much new about it. But using FREE! to drive social policies is interesting.Social norms : Very powerful, but cuts both ways. Once a social norm it established, bringing in market norm will destroy it forever (the example of late pickup being charged at day care is a perfect example). Keep sending small gifts to the customer , they will yield good returns.Influence of arousal : Frankly, not of much use in commercial, but was quite astounded to read and the experiment was an eye opener.Price of ownership or endowment effect: Giving an option of refund if not satisfied is a very powerful hook in durable segment, as the endowment effect generally inhibits any urge to return.Keeping doors open : This concept is quite detailed out in the book Paradox of Choice by Barry Schwartz. Too many options only destroy valueEffect of expectation and power of price : When we believe something beforehand that something will be good, it generally will be good an vice versa. So, manage your customer expectation. A high price only enhances the expectationThe continuum message is that human beings are mere pawns in a game whose forces they largely fail to comprehend. And that is where behavioral economics will be a strong feed into marketing – making sure that consumers make the right choice!!

The author does a good job of presenting a wide range of psychological traps and irrational tendencies to which humans fall prey. The book is well written(although somewhat wordy at times) and easy to read. There are many enlightening passages which resonated well and were profound. If anything, most people will come away much better informed about a range of human flaws after reading this book. Some of the reasons that I didn't give this book the full five stars is that the author often rehashes previous research and findings by other scholars and taylors experiments which confirm already known ideas. Also, the book is written rather unevenly in the sense that you have to get through many tedious and laborious passages to get to an interesting point. I definitely felt at many points while reading this book that the author was adding a lot of non-value added filler material to meet a certain page # quota for the publisher. Still, this is a good book which I recommend as the author has gathered some very interesting information from which many people can benefit.

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