April 17, 2010

Sway -by Ori Brafman and Rom Brafman

Another book digested!
This one about how we persist in ignoring facts and logic and behave in surprisingly irrational ways!
And do I ever get it!
The authors speak about how we get an idea and cling to it in the face of mountains of evidence to the contrary.
One of the examples: You are in the market for a house.You drive by many and come upon what you see as your dream house.
Now when you get to go through it you see that the bathrooms need to be gutted,you've seen closets bigger than the kitchen etc,etc.
But still you persist because you can't give up the idea that this is your dream house.Psychologically you are committed to your original idea.
Another example is about a pilot who was lauded for his experience and record of always bringing in the plane on time.One flight he was caused to be late by weather and had to be stuck in an airport overnight and of course scarring his reputation for being on time.Regardless of the danger to the passengers and to himself ,he took off without clearance with tragic results. It amazed me that so accomplished a pilot could not see the logical thing to do.Like what is a little bump on your reputation when lives are at stake. We trust these guys to be smart and logical not that self-serving.But he was committed to not losing ...
It all reminds me of my behavior at the Casinos. When I go in ,I figure I'll just throw $20 ,$30 in and go. I'm smart ,do not have a gambling problem .But when I lose 20 30 dollars I can only think of getting it back,so soon I'm in for $100.and now I have to keep going because I can't afford to have the next person sit down in my chair and stick a dollar in and get all my money!So I'm actually committed to not losing now instead of winning or going home.

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