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Chapter Overview
Chapter 1: AudiobookHub Recommendation
Chapter 2: Adding incentives can frequently bring unintended effects on people’s behavior.
Chapter 3: Incentives depend on context: what succeeds when it's sunny may fail when it's raining.
Chapter 4: Experts may use their information edge to exploit laypeople for economic profit.
Chapter 5: Experts may exploit fear and anxiety to swindle laypeople.
Chapter 6: The Internet has significantly diminished experts’ informational edge over many consumers.
Chapter 7: When sellers leave out information, customers routinely penalize them by assuming the worst.
Chapter 8: People worry disproportionately about risks that appear particularly prominent or over which they have limited control.
Chapter 9: We frequently and wrongly infer that when two events coincide, one must necessarily cause the other.
Chapter 10: When assigning causality, we tend to ignore distant causes in favor of more immediate explanations.
Description
Freakonomics (2005) applies rational economic analysis to everyday situations, from online dating to buying a house. The book reveals why the way we make decisions is often irrational, why conventional wisdom is frequently wrong, and how and why we are incentivized to do what we do.
Who Should Listen
- Anyone interested in human decision-making.
- Managers with an interest in the impact of incentives and risk analysis
- Economists looking for a more creative approach to using the tools of economics