New Stuff Tuesday – March 29, 2016

Phishing for Phools Book Cover

Phishing for Phools
The Economics of Manipulation and Deception
by George A. Akerlof and Robert J. Shiller
HB74.P8 A49443 2015
New Arrivals, 2nd floor

While the benefits of a free market are widely touted in the United States, Nobel Prize winners George A. Akerlof and Robert J. Shiller argue that such markets have a seedier side. Individuals and businesses aim to make the highest profit possible, and they may do whatever it takes to achieve that, including exploitation and deception. This book explores the intersection of psychology and economics, using case studies to show how markets can be manipulated. The case studies discuss advertising, politics, big pharma, and more. If economic theory tickles your fancy, I highly recommend this read.

Here’s a short video about the book from one of the authors:

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