Ratings70
Average rating4.1
Examines the history of behavioral economics, discussing the theory of Israeli psychologists who wrote the original studies undoing assumptions about the decision-making process and the influence it has had on evidence-based regulation.
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I've enjoyed books by Michael Lewis and plan to read others, but this one could not hold my attention.
Chapters 1, 8, and 9 were engaging but the remaining chapters seemed to drag on without making progress toward key concepts.
When it did touch on some of Kahneman and Tversky's ideas, it seemed forced. “Buying insurance is, strictly speaking, a stupid bet.” “Gamblers accept bets with negative expected values” (which is understood by many to be risky, not rational). “Back when a ducat was a ducat.”
I had high hopes for this book but I think I would have benefited from reading Kahneman and Tversky's works directly instead.
This book was very fascinating. It was interesting to read about such a cool collaboration between these two researchers. So many things Danny and Amos researched feel like such a no brainer now, even though there's still a lot of ways for their findings to disrupt industries these days.
So far Michael Lewis' books have really shined a light on very interesting subjects.
Really enjoyed this book. The conclusion felt a bit rushed, but it provided an interesting perspective on the two authors profiled. Highly recommend.