August 2, 2019 posted by

Witty economists are about as easy to find as anorexic mezzo-sopranos, natty mujahedeen, and cheerful Philadelphians. But Steven E. Landsburg is one. The Armchair Economist by Steven E. Landsburg – Air bags cause accidents, because well-protected drivers take more risks. This well-documented truth comes. In The Armchair Economist, Steven E. Landsburg shows how economic thinking illuminates the entire range of human behavior. But instead of focusing on the.

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I think this book will change your point of view on so many things. I like the chapter Rational riddles, The indifference principle, The mythology of deficits, How statistics lie, Why popcorn costs more at the movies, Random walks and stock market prices. Trivia About Armchair Economis It is a sad thing that when logic does not match someone’s view of the world that they then have to start hurling insults and result to name calling rather than take a hard look at the facts in front of them.

Will energy-efficient cars reduce our consumption of gasoline? When the price of accidents e. Aug 21, Andrew Breslin rated it liked it.

Dec 09, Connor rated it it was ok. The first edition appeared in What distinguishes the economist is his insistence on taking the principle seriously at all times. If drivers are aware of widespread deception, they will tend to suppress their natural responses.

The Armchair Economist

Now it’s very famous to protest against higher packages awarded to the senior management of the company. Landsburg is a Professor of Economics at the University of Rochester. The book aims to illustrate the thought process of economist, and in an indirectly way, the readers shall be able to glimpse and understand some fundamental theories in economics and what it is all about.


Open Preview See a Problem? That group will choose to drive more carefully when alerted to a baby”s presence and will be glad to have that presence called to theft attention. Views Read Edit View history.

The result is more accidents. Just a lovely book. The reason is that the threat of being killed in an accident is a powerful incentive to drive carefully.

Criminal law is a critical area for understanding how people respond to incentives. Still think taxes don’t produce anything Mr Economist?

Third, if Baby on Board signs really work, there is nothing to Stop childless couples from posting them dishonestly. There were more accidents and fewer driver deaths per accident, qrmchair the total number of driver deaths remained essentially unchanged.

To make sense of them took me multiple flips between the pages to re-read the chapters.

The Armchair Economist – Wikipedia

More books from this author: There may lndsburg an extra cottage in Aspen un-purchased, a Mazzerati sp undriven, or some classy couture unworn.

Retrieved from ” https: I can guarantee that any new reader to economics will be sucked into the topic after reading this book unless they flat-out reject these new ideas based on their original beliefs- which I find to be a very common flaw that humans tend to obtain as they solidify their views. Why do concert promoters for acts that consistently sell-out choose to set prices lower than the maximum the market will bear?

True Crime Children’s Books. Now higher the risk, higher the probability that the decision might backfire. This is, of course, just another way of saying the same thing, but somehow people find it easier to believe. This would tend to involve them in more accidents and at least partially cancel the effects of other drivers” extra care. It seems too intangible. The signs are intended to signal other drivers that they should use extraordinary care. I wrote a book about game theory, one of the most important areas of mathematics with direct applications to economics.


Over beers or coffee. Absolutely no sources named for “statistics”. First, the power of incentives, people responds to incentives and such can cause various unexpected outcome, e. The best example of this is the riddle of seat belts. Read the book and then think about what is in it. Many research projects in economics revolve around creative solutions to just such difficulties.

He supplies boatloads of both, and presents them very well. Thirdly, mythology of deficits, differences of deficits and debts, and what should we care instead, e. If the seat belts were removed from your car, wouldn”t you be more cautious in driving? Landsburg did not, to me, present a good case for caring about economics.

I wasn’t going to bother commenting on this book but in regard to some of the other comments I feel I must. Economics and Everyday Life Steven E. I have discovered that when I tell noneconomists about Peltzman”s results, they find it almost impossible to believe that people would drive less carefully simply because their cars are safer Economists, who have learned to respect the principle that people respond to incentives, do not have this problem.

If there are 2 options in the world to choose from, for instance, whether to go to a fair or to go to a park then the only way you will feel special about your choice of going to either of the places depends of the fact that it has to be relatively unique. One must look at actual numbers.