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ePub The Logic of Life: The Rational Economics of an Irrational World download

by Tim Harford

ePub The Logic of Life: The Rational Economics of an Irrational World download
Author:
Tim Harford
ISBN13:
978-1400066421
ISBN:
1400066425
Language:
Publisher:
Random House; 1 edition (January 15, 2008)
Category:
Subcategory:
Economics
ePub file:
1561 kb
Fb2 file:
1973 kb
Other formats:
lit txt docx azw
Rating:
4.4
Votes:
233

Tim Harford is the author of the bestseller The Undercover Economist and The Logic of Life and a member of. .Chapter One Introducing the Logic of Life The Economics of Sex, Crime, and Minnie Mouse Harpo Studios, Chicago. Parents, brace yourselves.

He is a regular contributor to Slate, Forbes, and NPR’s Marketplace. He was the host of the BBC TV series Trust Me, I’m an Economist and now presents the BBC series More or Less. With those words, Oprah Winfrey introduced America to the shocking news of the teenage oral sex craze.

Life sometimes seems illogical. The Logic of Life presents an X-ray image of human life, stripping away the surface to show us a picture that is revealing, enthralling, and sometimes disturbing. Individuals do strange things: take drugs, have unprotected sex, mug each other. Love seems irrational, and so does divorce.

The Logic of Life book. Life sometimes seems illogical  .

around the world that will help life sciences faculty learn to teach about the responsible conduct. This guide deals primarily with the economics of electric utilities, although certain legal. Systems Thinking, : Managing Chaos and Complexity: A Platform for Designing Business Architecture. Nuclear Physics: Exploring the Heart of Matter. 276 Pages·2013·672 KB·102,671 Downloads·New! The principal goals of the study were to articulate the scientific rationale and objectives.

Harford actually begins the book with a discussion of apparently worrying teenage sexuality that turns out to be more encouraging than you might think possible

Harford actually begins the book with a discussion of apparently worrying teenage sexuality that turns out to be more encouraging than you might think possible. A great book and a fun read.

The Logic of Life is a witty, intelligent book written by Tim Harford, the same author that brought us The Undercover Economist. Every chapter in this book brought excellent studies to support conclusions made by Tim Harford

The Logic of Life is a witty, intelligent book written by Tim Harford, the same author that brought us The Undercover Economist. Every chapter in this book brought excellent studies to support conclusions made by Tim Harford. The opening chapters bring questions and answers to questions such as: why smoking is on the decline, why gambling is rational, why psychology has us choosing option A & B over C & D despite them having the same exact outcome, and the logic of game theory.

With this book, Tim Harford has established himself as perhaps the world’s leading economic journalist. The Logic of Life is so compelling not just because of Harford’s sleuthing, but because he is such a powerful storyteller. If you read one economics book this year among the stack recently produced, this would be it. Core Economics. Writers of popular thrillers would be proud of the narrative momentum he maintains in his chapter on game theory, Las Vegas: The Edge of Reason, which brings to life fascinating people like John Von Neumann, Chris ‘Jesus’ Ferguson and Thomas Schelling.

The Logic of Life: The Rational Economics of an Irrational World is a book by Tim Harford published in 2008 by Random House. Harford argues that rational behavior is more widespread than expected in the larger population. He uses economic principles. He uses economic principles to draw forth the rational elements of supposedly illogical behaviors to illustrate his point. The overwhelming gain paradox is a paradox of reasoning that is referred to in the book.

In The Logic of Life, bestselling author Tim Harford quite simply makes sense of this world. Life often seems to defy logic. Brilliantly reasoned, always entertaining and often provocative, The Logic of Life is a book to help you understand yourself and the world around you. The receptionist is clearly smarter than the boss who earns fifty times her salary. Arbitrary lines starkly divide the desirable districts of the city from the dangerous ones. Voters flock to the polling booths to elect candidates who’ll rip them off to favour special interests. None of it makes logical sense - or does it? Economist and acclaimed author Tim Harford thinks it does.

The Logic of Life presents an X-ray image of human life, stripping away the surface to show us a picture that is revealing, enthralling, and sometimes disturbing. People Who Liked The Logic of Life: The Rational Economics of an Irrational World Also Liked These Free Titles: ISI Lecture Podcast. Money, Power and Wall Street.

Life sometimes seems illogical. Individuals do strange things: take drugs, have unprotected sex, mug each other. Love seems irrational, and so does divorce. On a larger scale, life seems no fairer or easier to fathom: Why do some neighborhoods thrive and others become ghettos? Why is racism so persistent? Why is your idiot boss paid a fortune for sitting behind a mahogany altar? Thorny questions–and you might be surprised to hear the answers coming from an economist. But Tim Harford, award-winning journalist and author of the bestseller The Undercover Economist, likes to spring surprises. In this deftly reasoned book, Harford argues that life is logical after all. Under the surface of everyday insanity, hidden incentives are at work, and Harford shows these incentives emerging in the most unlikely places. Using tools ranging from animal experiments to supercomputer simulations, an ambitious new breed of economist is trying to unlock the secrets of society. The Logic of Life is the first book to map out the astonishing insights and frustrating blind spots of this new economics in a way that anyone can enjoy. The Logic of Life presents an X-ray image of human life, stripping away the surface to show us a picture that is revealing, enthralling, and sometimes disturbing. The stories that emerge are not about data or equations but about people: the athlete who survived a shocking murder attempt, the computer geek who beat the hard-bitten poker pros, the economist who defied Henry Kissinger and faked an invasion of Berlin, the king who tried to buy off a revolution.Once you’ve read this quotable and addictive book, life will never look the same again.
  • What are the most irrational human behaviors? If you ask me, love, drug addiction, and overpaying CEOs would be on the top of my list.
    However, according to “The Logic of Life” by Tim Harford, these and a number of other “human nature” behaviors actually have rational motivations. This book explores human rational calculations at individual and societal levels with the eyes of an economist.
    Just saying a behavior is rational is like a cheap version of the evolutionary theory. Just any biological traits can be explained by the survival advantage it brings to the table, any human behavior can be explained by some reasoning behind it. If that were what the book was about, it would not be very interesting. Fortunately, this book is more than that. It tells stories and researches that show the connections between rational reasoning and behavior with intricate experiments and data analyses. While the book focuses on rationality, the author is ready to admit that many (perhaps more) human behaviors are irrational. The author also goes out of his way to address possible objections. Some of the objections were conceded, others were fended off with more research and data. All of such deliberations make the book an enjoyable read.
    The topics impressing me the most are rational reactions of the disadvantaged. The author pointed out that racial discrimination can be irrational (hate) or rational (stereotype). However, the effect on the victim group is the same. They lose motivation to improve their qualification and even resent their members who actually want to improve. Another counter-intuitive (although well known) fact is that the lack of trust mechanism hurts not only the party who need to trust but also the party who need to be trusted. In a totalitarian society, there is no credible way to check and balance the behavior of the ruler. Therefore, people cannot trust the rulers will keep any promise of compromise. Their only rational option is overthrowing the rule through revolution, although revolution incurs a high cost to the people as well.
    When started the book, I thought it was a knockout of “Freakonomics.” But I was pleasantly surprised. It covers different topics and covers better. The author also wrote the famous book “The Undercover Economist,” which I read many years ago. I was not that impressed then. Maybe it’s time to reread that book.

  • The Logic of Life

    Overall Assessment

    This is an interesting enough discussion of everyday human action reflecting rational economic calculation--however counterintuitive it seems at first blush. From my armchair this looks like part of a trend of economics grounded who-woulda-thunk-it books cashing in on *Freakonomics*, although the specific examples (see below) are usually thought provoking. Definitely written for the self-styled "advanced layman", as I flatter myself as being, so it worked for me, generally.

    Brief Content Summary:

    Teens engaging in oral sex, third world prostitutes not using condoms, companies promoting crooks and boneheads to multimillion dollar executive positions, poker playing game theorists, are all acting, in a sense, rationally. There is an economic logic for divorce when women have better opportunities outside dysfunctional marriages; despite our romantic ideals, we are economic thinkers when mating.

    More disturbing is that segregated housing and even racially influenced employment decisions have an economic logic "rational racism": Research shows that "black looking" names are a detriment in employment applications, all other things being equal. Other research shows that, in a reinforcing cycle, minorities learn they are more likely to be rejected, see no point in excelling, which in turn reinforces the half-truth that is the basis for rejection. (I found that part so compelling and interesting I'm assigning it in my race and crime class.)

    Voters are rationally ignorant because their vote counts functionally for nothing, as are the victims of special interest lobbies like the subsidized sugar industry. Revolutions against corrupt and oppressive states are rare and hard to initiate because most individuals rationally and avoid direct conflict with the state.

    It ends with a somewhat clumsy apologetic for defense of property rights and an optimistic appraisal of the human prospect that can occur when (I guess this is the point), we let people act in their own interests. People innovate and create wealth. If this addendum had its own "logic of life" I missed it, to be sure.

    It's funny that I write this now that Chris Ferguson, the mathematics-game-theorist whiz kid who rocked the house in Vegas using game theory principles, is among those now being indicted by the state department for a multi-million dollar Ponzi scheme from his gambling website. No doubt Harford would have a "rational actor" explanation. Maybe sometimes people just do stupid stuff because they have a warped *perceived* reality.

  • A well thought out book. Interesting concepts surrounding the facts of modern life. Made me stop and think more than a few times. Well developed theories. Would recommend to a friend.

  • "The Logic of Life" describes what economists mean by rational and then pursues how economists use that assumption to examine crime, characteristics of cities, marriage and the family, economic growth and other issues. This may be my favorite of the three Harford books I have read. Clearly on top of recent research and is a brilliant expositor. You will enjoy this book.

  • This is a great book. Laying out the foundation work of our economical society.

  • Entertaining, easy to read and wonderful intro to economics that affect all of us in day to day life.

  • This is a good collection of recent behavioral economics work by other economists. The chief benefit of Harford's book seems to be his order and thematic premise: people make logical decisions. However, this is not a new idea. Rather, it is a soft-handed defense of the central premise of economic thought: people make logical decisions.

    The book reads very quickly and the various studies and papers are presented in an easily digestible format. Worthwhile reading for anyone with a passing interest in economics. Serious readers should go for the articles in the bibliography instead.