The Matching Law: Papers in Psychology and Economics
Herrnstein provided major contributions to several fields, like the understanding of crime, genetics, or problems of social policy. [This] book covers most of Herrnstein's work on economic problems...The editors, who wrote the introductions to the individual parts, provide concise and very informative summaries and discussions of them. (B. KuonJournal of Economics [UK])The Matching Lawtells us one big thing: people systematically misallocate their resources. Like pigeons, humans tend to focus on immediate rewards, and to neglect how current activities affect future payoffs...Choose this book. It will change your perceptions of the world, and subsequently, quite possibly how you spend your time. (Richard J. Zeckhauser, Harvard University)This collection of brilliant essays and lucid editorial introductions explains the fundamental law of action and choice that Herrnstein discovered, and highlights his unique contribution to our understanding of the persistence of self-destructive behavior. (Daniel Kahneman, Princeton University)