Sway: The Irresistible Pull of Irrational Behavior

Today I present two lectures on a new behavioral economics book, called Sway- The Irresistible Pull of Irrational Behavior. (Scroll to the bottom to watch both embedded lectures)

Video Introduction (Via Google Talks & Situationist Blog)

Why is it so difficult to sell a plummeting stock or end a doomed relationship? Why do we listen to advice just because it came from someone “important”? Why are we more likely to fall in love when there’s danger involved? In Sway, renowned organizational thinker Ori Brafman and his brother, psychologist Rom Brafman, answer all these questions and more.

Drawing on cutting-edge research from the fields of social psychology, behavioral economics, and organizational behavior, Sway reveals dynamic forces that influence every aspect of our personal and business lives, including loss aversion (our tendency to go to great lengths to avoid perceived losses), the diagnosis bias (our inability to reevaluate our initial diagnosis of a person or situation), and the “chameleon effect” (our tendency to take on characteristics that have been arbitrarily assigned to us).

Book Background (Via Amazon & Publishers Weekly):

Recently we have seen plenty of irrational behavior, whether in politics or the world of finance. What makes people act irrationally? In a timely but thin collection of anecdotes and empirical research, the Brafman brothers—Ari (The Starfish and the Spire), a business expert, and Rom, a psychologist—look at sway, the submerged mental drives that undermine rational action, from the desire to avoid loss to a failure to consider all the evidence or to perceive a person or situation beyond the initial impression and the reluctance to alter a plan that isn’t working. To drive home their points, the authors use contemporary examples, such as the pivotal decisions of presidents Lyndon B. Johnson and George W. Bush, coach Steve Spurrier and his Gators football team, and a sudden apparent epidemic of bipolar disorder in children (which may be due more to flawed thinking by doctors making the diagnoses). The stories are revealing, but focused on a few common causes of irrational behavior, the book doesn’t delve deeply into the psychological demons that can devastate a person’s life and those around him.

Below are two videos presented by the writers of Sway

Sway at Google Talks:

Sway on Fora.Tv



About Miguel Barbosa

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06. October 2008 by Miguel Barbosa
Categories: Behavioral Economics, Curated Readings | Leave a comment

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