Posted By RichC on April 19, 2017
My friend Jeff and I try to get together for a Friday lunch once or twice a month. We often discuss work, politics and management, particularly as it relates to his job and potential advancement … although we recognized the limited number of years for that second part. Anyway, one of the books he is reading and wanted me to read so we could discuss was Dan Ariely‘s Predictably Irrational (knowing I would like it). As with many ebooks nowadays, they can be challenging to loan out — that was the case with his Amazon Kindle version, which he was reading on his iPad and does not off the 2-week loan option. So he offered to loan me his older first generation Kindle e-Ink version which I haven’t read from in years … I think the last time was a Nook ebook reader and was 7-years ago when I borrowed my daughter’s Barnes and Noble Nook reader? Anyway, I had forgotten just how much I enjoyed reading with out a glare or being comfortable reading in bright sunlight. On top of that, holding "even his old Kindle" made me realized how heavy reading from an iPad Air2 (with a Brydge keyboard) can be. Using his Kindle appealed to me enough to take up a digital author/publisher who follows my business and had offered me a Kindle if I would edit and promote his writing on my blog and social networks (just in case you see something on MyDesultoryBlog).
Back to reading the book; it is going to be an easy read because it quickly caught my attention and starts with a little marketing talk, such as how we intuitively make valuation decisions based on comparison. Some of the studies and examples are enlightening when marketers use the "decoy effect." Another term is "relativity" which capitalizes on "jealously and envy" when comparing. The example of CEO compensation was a good one and exactly the opposite effect than was intended when federal securities regulators forced companies to reveal (shame) "details about the pay and perks of their top executives." Instead of putting downward pressure on executive pay, the publicity saw other executives demanding contracts and pay of their peers. Now most CEO make 300 to 400 times what a company’s average worker makes (compared to just 36 times back in the mid-1970s). Perhaps and update when I get my own Kindle and finish the book — a good read so far though.
An aside … saw a couple cute items on Twitter the other day … first a humorous profile and second, if you have (or had) little kids and Legos … or even watch the movie Toy Story, you can appreciate the photo.