The Irrational Economist: Making Decisions in a Dangerous World
Joseph Stiglitz“The Irrational Economistchallenges conventional wisdoms, overturns traditional economic models, and brings to light new discoveries in decision sciences: The result is a profound revolution in thinking. This book will help us cope better with the myriad of important decisions under uncertainty that we face.”Richard M. Smith, Chairman,Newsweek“InThe Irrational Economistsome of the world’s foremost economists and decision scientists analyze how we make decisions under pressure—and offer thought-provoking ideas about how to improve the process. The result is important and remarkably timely.”Martin Feldstein, Professor of Economics, Harvard University; President Emeritus of the National Bureau of Economic Research“Dealing with extra-ordinary situations that cannot be quantified on the basis of past experience is one of the key problems facing investors, business executives, and government officials. Michel-Kerjan and Slovic brilliantly rally insights from an outstanding group of authors: There is something here for any reader.”Matthew Bishop, U.S. Business Editor,The Economistand author ofThe Road From Ruin: How to Revive Capitalism and Put America Back on Top“At a time of transformative choices, we all need guidance, if not a radical shift in perspective.The Irrational Economistis a terrific book that will change the way you make decisions.”Justin Fox, Editor-at-large,TIMEand author ofThe Myth of the Rational Market“The future is uncertain and filled with risks. So what do we do about it? Think of this book as a jam session in which the most virtuosic thinkers from economics and a few other social sciences try to answer that essential question. A great performance.”Publishers Weekly“Compelling…. This collection is an intriguing look at the limitations of human knowledge regarding its own nature, especially relevant for the current moment of economic turmoil”