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Everybody wants to be happy. But how much happiness will each life choice bring? Should I get married? Am I going to feel good in that new job? Is seeing friends worth more than a Ferrari? How can we decide not only which choice is better for us, but how much better? The Happiness Equation reveals the cutting-edge new science of happiness economics for the first time and explains, quantifiably, how and why some things matter more to our happiness...
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The coauthor of the "best economics blog in the universe" offers a guide to success in a radically new hyper-networked age. The way we think is changing more rapidly than it has in a very long time. Not since the Industrial Revolution has a man-made creation--in this case, the World Wide Web--so greatly influenced the way our minds work and our human potential. Cowen argues that we are breaking down cultural information into ever-smaller tidbits,...
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A curated collection from the most readable economics blog in the universe. Over the past decade, Levitt and Dubner freely admit that most of their posts were rubbish. But now they've gone through and picked the best of the best. You'll discover what people lie about, and why; the best way to cut gun deaths; why it might be time for a sex tax; and, yes, when to rob a bank. (Short answer: never; the ROI is terrible.).
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There has recently been an escalated interest in the interface between psychology and economics. The Cambridge Handbook of Psychology and Economic Behaviour is a valuable reference dedicated to improving our understanding of the economic mind and economic behaviour. Employing empirical methods - including laboratory and field experiments, observations, questionnaires and interviews - the Handbook provides comprehensive coverage of theory and method,...
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Economists can help shape monetary policy, global policy and even how much you pay for a new pair of shoes. For example, do you know who benefits the most from globalization? How do fitness studios and providers of Internet access earn most of their money?: from the laziness and irrationality of their customers. This book features contributions from top thinkers in the economic field from around the world, such as Philippe Aghion, Paul Krugman, Daniel...
8) Dear undercover economist: priceless advice on money, work, sex, kids, and life's other challenges
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In the first collection of his popular Financial Times columns, Undercover Economist Tim Harford offers witty, charming, and at times caustic answers to our most pressing concerns--all through the lens of economics. Does money buy happiness? Can cities be greener than farms? Can you really "dress for success"? When's the best time to settle down? Harford provides hilarious, unexpected, and wise answers to these and other questions. Arranged by topic,...
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From the Publisher: Freakonomics was a worldwide sensation, selling more than four million copies. Now Steven D. Levitt and Stephen J. Dubner return with SuperFreakonomics ... SuperFreakonomics challenges the way we think all over again, with such questions as: How is a street prostitute like a department-store Santa? What's the best way to catch a terrorist? What do hurricanes, heart attacks, and highway deaths have in common? Are people hardwired...
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What do sex, contraceptives, marriage, divorce, alcohol, religion, politics, crime, and punishment have in common with inflation, monopoly, and exchange rates? The answer given in this book is that the formers are all aspects of human behavior, which, like the latter, can be analyzed and modeled using conventional economic methods. The application of economic reasoning to human behavior, which was until recently considered to be beyond the scope of...
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"Revolutionary developments in economics are rare. The conservative bias of the field and its enshrined knowledge make it difficult to introduce new ideas not in line with received theory. Happiness research, however, has the potential to change economics substantially. Its findings, which are gradually being taken into account in standard economics, can be considered revolutionary in three respects: the measurement of experienced utility using psychologists'...
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What do all successful fast-food restaurants have in common? Why do men's testosterone levels rise when they drive a Ferrari or a Porsche? Why are women more likely to become compulsive shoppers and men more likely to become addicted to pornography? How does the fashion industry play on our innate need to belong? The answer to all of these questions is "the consuming instinct," the underlying evolutionary basis for most of our consumer behavior. In...
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In this eye-opening exploration, author and psychologist Michael Shermer uncovers the evolutionary roots of our economic behavior. Drawing on the new field of neuroeconomics, Shermer investigates what brain scans reveal about bargaining, snap purchases, and establishing trust in business. He scrutinizes experiments in behavioral economics to understand why people hang on to losing stocks, why negotiations disintegrate into tit-for-tat disputes, and...
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A leading political and business thinker identifies the greatest threat to our economic future: the things we think we know--but don't. In the face of global competition and rapid technological change, our economy is facing its most severe test in nearly a century. Yet our leaders have failed to prepare us for what lies ahead because they are in the grip of a set of "dead ideas" about how a modern economy should work. These ways of thinking--dubious...
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Akerlof and Shiller argue that markets harm as well as help us. As long as there is profit to be made, sellers will systematically exploit our psychological weaknesses and our ignorance through manipulation and deception. Based on the intuitive idea that markets both give and take away, they show how phishing affects everyone, in almost every walk of life. We spend our money up to the limit, and then worry about how to pay the next month's bills....
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"Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first...
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"In 1995, economist Rachel Kranton wrote future Nobel Prize-winner George Akerlof a letter insisting that his most recent paper was wrong. Identity, she argued, was the missing element that would help to explain why people--facing the same economic circumstances--would make different choices. This was the beginning of a fourteen-year collaboration--and of Identity Economics. Identity economics is a new way to understand people's decisions--at work,...
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