Decisions are taken with the belief that we are in control, making rational choices. Is that true? As Ariely shows, our minds play subtle but powerful tricks on us all the time.
The principles described in Payoff, as well as other forces that have been discovered in social science are used to score companies in terms of their human capital factor, and to create an ETF that invests in companies that treat their employees the right way. The ETF is appropriately named: HAPY.
And here is the closing bell when the HAPY index was born.
reveals fascinating new insights into motivation - showing that the subject is far more complex than we ever imagined.
Read why Fortune calls Payoff a must-read book to step up your game at work
Dan Ariely is a professor of psychology and behavioral economics at Duke University and a founding member of the Center for Advanced Hindsight.
When Ariely was a senior in high school, he participated in an Israeli youth movement. An explosion of flammable materials caused third-degree burns over 70 percent of his body as he prepared fire inscription for a traditional nighttime ceremony.
Ariely recovered and went on to graduate from Tel Aviv University and received a Ph.D. in cognitive psychology from the University of North Carolina at Chapel Hill, and a Ph.D. in business administration from Duke University. His research focuses on discovering and measuring how people make decisions. He models the human decision making process and in particular the irrational decisions that we all make every day.
Dan is the author of the bestsellers Irrationally Yours, Predictably Irrational, The Upside of Irrationality, The (Honest) Truth About Dishonesty, Dollars and Sense and Amazing Decisions. He is also a co-creator of the movie Dishonesty and the card game Irrational Game.