The other day I posted a long, detailed musing on the price of gasoline and whether the recent price increases would have a long-term impact on our domestic demand. I drew extensively upon the work of Dan Ariely, a behavioral economist, formerly of MIT, now of Duke. I enthusiastically recommend his book Predictably Irrational, a quick and enjoyable read. Even if you don’t have an interest in economics or books, you’ll find the following presentation, in which he reprises the major concepts of that book, incredibly illuminating:
And if you like what you see above, you should check out his podcast, “Arming the Donkeys.” Oh, and if any of my Seniors are interested, there’s a reference to Hamlet within the first 10 minutes. Shakespeare indeed permeates everything.
