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In chapter 8, Ariely discusses how we overvalue what we have, and why we make irrational decisions about ownership. The idea of ownership makes us perceive the value of an object to be much higher if we own the object. This illustrates the phenomenon of the endowment effect—placing a higher value on property once possession has been assigned.
Irrational behavior can be useful when used tactically in certain conflict, game and escape situations. The moves of an irrational opponent are not (or only very limitedly) predictable. An irrational negotiator cannot be put under rational pressure. [55] An indirect tactic is the rational use of the irrationalism of third parties.
It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of values, preferences and beliefs of the decision-maker. [1] Every decision-making process produces a final choice, which may or may not prompt action.
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Rationalization encourages irrational or unacceptable behavior, motives, or feelings and often involves ad hoc hypothesizing. This process ranges from fully conscious (e.g. to present an external defense against ridicule from others) to mostly unconscious (e.g. to create a block against internal feelings of guilt or shame ).
Stuart Sutherland Irrationality: Why We Don't Think Straight, 1992, reissued 2007 by Pinter & Martin ISBN 978-1-905177-07-3; William B. Helmreich (2011). What Was I Thinking? The Dumb Things We Do and How to Avoid Them. Taylor. ISBN 978-1589795976. Lisa Bortolotti, Irrationality, Cambridge, Polity Press, 2014 [ISBN missing]
Rational irrationality is not doublethink and does not state that the individual deliberately chooses to believe something he or she knows to be false. Rather, the theory is that when the costs of having erroneous beliefs are low, people relax their intellectual standards and allow themselves to be more easily influenced by fallacious reasoning, cognitive biases, and emotional appeals.
Self-justification thought process is a part of commitment decisions of leaders and managers of a group and can therefore cause a rise in commitment levels. [citation needed] This attitude provides "one explanation for why people escalate commitment to their past investments." [7] Managers make decisions that reflect previous behavior. Managers ...