ELI5: Explain Like I'm 5

Predictably Irrational

Alright kiddo, have you ever heard the term "predictably irrational"? It's like doing things that don't really make sense, but we do them anyway because our brains are wired a certain way.

Let me give you an example. Imagine you have a big bowl of candy in front of you. You love candy, right? Now, let's say I offer you three choices: you can either have one piece of candy now, five pieces of candy in ten minutes, or ten pieces of candy in an hour. What would you choose?

Most people would choose one piece of candy now. It's normal to want to enjoy something right away, even if we could get more of it if we wait. That's an example of predictably irrational behavior. Our brains are wired to want immediate gratification, even when it's not the best choice for us in the long run.

Another example is when we buy something just because it's on sale, even though we don't really need it. We're not thinking logically, we're just excited about the discount and want to take advantage of it.

So, predictably irrational behavior is when we do things that don't really make sense or are not in our best interest, but we do them anyway because our brains are wired to act that way. It's important to be aware of this so we can make better decisions and not always act on impulse.
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