Financial Times FT.com

Silly judgments and lame conclusions

By Alan Mitchell

Published: July 16 2008 19:36 | Last updated: July 16 2008 19:36

BOOK REVIEW
Sway –The Irresistible Pull of Irrational Behaviour
By Ori Brafman and Rom Brafman
Doubleday, $21.95

Max Bazerman starts the first day of his negotiation skills class at Harvard Business School with an auction for a $20 bill. Prof Bazerman has run this auction many times now, and not once has the bidding ended below $20. The highest bid ever was £204. How crazy is that?

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