Watching the economy go through its current gyrations makes us wonder why so many smart and seemingly rational people got so much so wrong. Professor Dan Ariely, Professor of Behavioral Economics at Duke University has an explanation in his new book, Predictably Irrational: When it comes to making decisions about money, even the smartest of us are irrational. It’s a fascinating topic. One the Obama administration is taking a hard look at as they formulate a way out of this mess.

In this interview with Robin Young on PRI, Ariely has concluded that because we hate to make decisions, we either make the easy, short term decisions or we put off making decisions altogether—even though we’re usually the worse for it in the long run.

This could be yours. A rational case for why we're irrational.

Ever ordered the same entree as your companion in a restaurant because it was easier to pick that, then to think about what you wanted—then regretted it at the end of the meal? We make stupid choices about our finances for the same reason. Because the pain of decision-making is here and now and the rewards appear to be too many years in the future. It’s why some folks don’t sign up for employer-funded 401ks.

Hello Viking will give you this book.

Speaking of the investing in the future, if you’re the 10th, 25th, 50th and 100th person to subscribe to our new Hello Viking Newsletter we’ll give you a copy of Professor Areily’s new book. It’s our hope you’ll find our newsletters to be as useful and insightful as books like this one. So be rational. Hit this subscribe link and let us know you’re willing to read what we have to say every so often, and where to send your prize (should you be one of the lucky winners).