Summary Analysis Review Of George Akerlof S Et Al Phishing For Phools

Author : Instaread
Publisher : Createspace Independent Publishing Platform
Page : 38 pages
File Size : 47,5 Mb
Release : 2017-01-03
Category : Electronic
ISBN : 1542345251

Get Book

Summary, Analysis & Review of George Akerlof's & Et Al Phishing for Phools by Instaread Pdf

Summary, Analysis and Review of George Akerlof's and et al Phishing for Phools by Instaread Preview: In Phishing for Phools, George Akerlof and Robert Shiller explain the economics of fraud by incorporating fraudulent and unfair transactions into free-market economic models. Conventional economic models that presuppose a free market often assume that customers make decisions based on their long-term interests. They posit that the market moves toward an equilibrium in which every legal opportunity to make money is being utilized. A behavioral model of the free market includes "phishing" transactions, which are in the seller's best interest but not the buyer's. In a market at equilibrium in the real world, sellers have many opportunities to deceive customers. Economic models assume that customers buy things that benefit them, based on solid information and a budget, but a realistic model recognizes that customers also make choices based on more impulsive, short-term, and emotional factors. Wherever customers are vulnerable or short-sighted, a phisher is likely to step in and exploit that vulnerability... PLEASE NOTE: This is a Summary, Analysis & Review of the book and NOT the original book. Inside this Summary, Analysis and Review of George Akerlof's and et al Phishing for Phools by Instaread: � Overview of the Book � Important People � Key Takeaways � Analysis of Key Takeaways About the Author With Instaread, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience. Visit our website at instaread.co.

Author : Instaread
Publisher : Instaread
Page : 42 pages
File Size : 51,6 Mb
Release : 2017-01-04
Category : Study Aids
ISBN : 9781683786580

Get Book

Summary, Analysis & Review of George Akerlof's and et al Phishing for Phools by Instaread  by Instaread Pdf

Author : George A. Akerlof,Robert J. Shiller
Publisher : Princeton University Press
Page : 261 pages
File Size : 50,5 Mb
Release : 2010-02-01
Category : Business & Economics
ISBN : 9781400834723

Get Book

Animal Spirits by George A. Akerlof,Robert J. Shiller Pdf

From acclaimed economists George Akerlof and Robert Shiller, the case for why government is needed to restore confidence in the economy The global financial crisis has made it painfully clear that powerful psychological forces are imperiling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, "animal spirits" are driving financial events worldwide. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity. Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of animal spirits, a term John Maynard Keynes used to describe the gloom and despondence that led to the Great Depression and the changing psychology that accompanied recovery. Like Keynes, Akerlof and Shiller know that managing these animal spirits requires the steady hand of government—simply allowing markets to work won't do it. In rebuilding the case for a more robust, behaviorally informed Keynesianism, they detail the most pervasive effects of animal spirits in contemporary economic life—such as confidence, fear, bad faith, corruption, a concern for fairness, and the stories we tell ourselves about our economic fortunes—and show how Reaganomics, Thatcherism, and the rational expectations revolution failed to account for them. Animal Spirits offers a road map for reversing the financial misfortunes besetting us today. Read it and learn how leaders can channel animal spirits—the powerful forces of human psychology that are afoot in the world economy today. In a new preface, they describe why our economic troubles may linger for some time—unless we are prepared to take further, decisive action.

Author : George A. Akerlof,Rachel E. Kranton
Publisher : Princeton University Press
Page : 192 pages
File Size : 51,8 Mb
Release : 2010-01-21
Category : Business & Economics
ISBN : 9781400834181

Get Book

Identity Economics by George A. Akerlof,Rachel E. Kranton Pdf

How identity influences the economic choices we make Identity Economics provides an important and compelling new way to understand human behavior, revealing how our identities—and not just economic incentives—influence our decisions. In 1995, economist Rachel Kranton wrote future Nobel Prize-winner George Akerlof a letter insisting that his most recent paper was wrong. Identity, she argued, was the missing element that would help to explain why people—facing the same economic circumstances—would make different choices. This was the beginning of a fourteen-year collaboration—and of Identity Economics. The authors explain how our conception of who we are and who we want to be may shape our economic lives more than any other factor, affecting how hard we work, and how we learn, spend, and save. Identity economics is a new way to understand people's decisions—at work, at school, and at home. With it, we can better appreciate why incentives like stock options work or don't; why some schools succeed and others don't; why some cities and towns don't invest in their futures—and much, much more. Identity Economics bridges a critical gap in the social sciences. It brings identity and norms to economics. People's notions of what is proper, and what is forbidden, and for whom, are fundamental to how hard they work, and how they learn, spend, and save. Thus people's identity—their conception of who they are, and of who they choose to be—may be the most important factor affecting their economic lives. And the limits placed by society on people's identity can also be crucial determinants of their economic well-being.

Author : Robert J. Shiller
Publisher : Princeton University Press
Page : 312 pages
File Size : 49,5 Mb
Release : 2013-04-21
Category : Business & Economics
ISBN : 9781400846177

Get Book

Finance and the Good Society by Robert J. Shiller Pdf

Nobel Prize-winning economist explains why we need to reclaim finance for the common good The reputation of the financial industry could hardly be worse than it is today in the painful aftermath of the 2008 financial crisis. New York Times best-selling economist Robert Shiller is no apologist for the sins of finance—he is probably the only person to have predicted both the stock market bubble of 2000 and the real estate bubble that led up to the subprime mortgage meltdown. But in this important and timely book, Shiller argues that, rather than condemning finance, we need to reclaim it for the common good. He makes a powerful case for recognizing that finance, far from being a parasite on society, is one of the most powerful tools we have for solving our common problems and increasing the general well-being. We need more financial innovation—not less—and finance should play a larger role in helping society achieve its goals. Challenging the public and its leaders to rethink finance and its role in society, Shiller argues that finance should be defined not merely as the manipulation of money or the management of risk but as the stewardship of society's assets. He explains how people in financial careers—from CEO, investment manager, and banker to insurer, lawyer, and regulator—can and do manage, protect, and increase these assets. He describes how finance has historically contributed to the good of society through inventions such as insurance, mortgages, savings accounts, and pensions, and argues that we need to envision new ways to rechannel financial creativity to benefit society as a whole. Ultimately, Shiller shows how society can once again harness the power of finance for the greater good.

Author : Niall Kishtainy
Publisher : Yale University Press
Page : 257 pages
File Size : 42,6 Mb
Release : 2017-03-07
Category : Business & Economics
ISBN : 9780300226317

Get Book

A Little History of Economics by Niall Kishtainy Pdf

A lively, inviting account of the history of economics, told through events from ancient to modern times and the ideas of great thinkers in the field What causes poverty? Are economic crises inevitable under capitalism? Is government intervention in an economy a helpful approach or a disastrous idea? The answers to such basic economic questions matter to everyone, yet the unfamiliar jargon and math of economics can seem daunting. This clear, accessible, and even humorous book is ideal for young readers new to economics and for all readers who seek a better understanding of the full sweep of economic history and ideas. Economic historian Niall Kishtainy organizes short, chronological chapters that center on big ideas and events. He recounts the contributions of key thinkers including Adam Smith, David Ricardo, Karl Marx, John Maynard Keynes, and others, while examining topics ranging from the invention of money and the rise of agrarianism to the Great Depression, entrepreneurship, environmental destruction, inequality, and behavioral economics. The result is a uniquely enjoyable volume that succeeds in illuminating the economic ideas and forces that shape our world.

Author : Robert J. Shiller
Publisher : Princeton University Press
Page : 408 pages
File Size : 52,5 Mb
Release : 2020-09-01
Category : Business & Economics
ISBN : 9780691212074

Get Book

Narrative Economics by Robert J. Shiller Pdf

From Nobel Prize–winning economist and New York Times bestselling author Robert Shiller, a groundbreaking account of how stories help drive economic events—and why financial panics can spread like epidemic viruses Stories people tell—about financial confidence or panic, housing booms, or Bitcoin—can go viral and powerfully affect economies, but such narratives have traditionally been ignored in economics and finance because they seem anecdotal and unscientific. In this groundbreaking book, Robert Shiller explains why we ignore these stories at our peril—and how we can begin to take them seriously. Using a rich array of examples and data, Shiller argues that studying popular stories that influence individual and collective economic behavior—what he calls "narrative economics"—may vastly improve our ability to predict, prepare for, and lessen the damage of financial crises and other major economic events. The result is nothing less than a new way to think about the economy, economic change, and economics. In a new preface, Shiller reflects on some of the challenges facing narrative economics, discusses the connection between disease epidemics and economic epidemics, and suggests why epidemiology may hold lessons for fighting economic contagions.

Author : Sara Hsu
Publisher : Edward Elgar Publishing
Page : 509 pages
File Size : 53,6 Mb
Release : 2023-12-11
Category : Business & Economics
ISBN : 9781800377363

Get Book

Elgar Encyclopedia of Financial Crises by Sara Hsu Pdf

Beginning with the 2008 global crisis in the United States, and particularly after the COVID-19 pandemic shook economies around the world, academics, practitioners, and other experts have become increasingly sensitised to the potential for financial and economic fragility to result in a systemic breakdown. Presenting a synopsis of lessons learnt from financial crises arising out of the 19th, 20th and 21st centuries, each entry examines a unique past issue to help to develop future outcomes, operating as a touchstone for further research.

Author : John Komlos
Publisher : Routledge
Page : 452 pages
File Size : 44,8 Mb
Release : 2019-01-11
Category : Business & Economics
ISBN : 9781351584708

Get Book

Foundations of Real-World Economics by John Komlos Pdf

The 2008 financial crisis, the rise of Trumpism and the other populist movements which have followed in their wake have grown out of the frustrations of those hurt by the economic policies advocated by conventional economists for generations. Despite this, textbooks continue to praise conventional policies such as deregulation and hyperglobalization. This textbook demonstrates how misleading it can be to apply oversimplified models of perfect competition to the real world. The math works well on college blackboards but not so well on the Main Streets of America. This volume explores the realities of oligopolies, the real impact of the minimum wage, the double-edged sword of free trade, and other ways in which powerful institutions cause distortions in the mainstream models. Bringing together the work of key scholars, such as Kahneman, Minsky, and Schumpeter, this book demonstrates how we should take into account the inefficiencies that arise due to asymmetric information, mental biases, unequal distribution of wealth and power, and the manipulation of demand. This textbook offers students a valuable introductory text with insights into the workings of real markets not just imaginary ones formulated by blackboard economists. A must-have for students studying the principles of economics as well as micro- and macroeconomics, this textbook redresses the existing imbalance in economic teaching. Instead of clinging to an ideology that only enriched the 1%, Komlos sketches the outline of a capitalism with a human face, an economy in which people live contented lives with dignity instead of focusing on GNP.

Author : Kevin Ashton
Publisher : Anchor
Page : 335 pages
File Size : 49,7 Mb
Release : 2015-01-20
Category : Business & Economics
ISBN : 9780385538602

Get Book

How to Fly a Horse by Kevin Ashton Pdf

As a technology pioneer at MIT and as the leader of three successful start-ups, Kevin Ashton experienced firsthand the all-consuming challenge of creating something new. Now, in a tour-de-force narrative twenty years in the making, Ashton leads us on a journey through humanity’s greatest creations to uncover the surprising truth behind who creates and how they do it. From the crystallographer’s laboratory where the secrets of DNA were first revealed by a long forgotten woman, to the electromagnetic chamber where the stealth bomber was born on a twenty-five-cent bet, to the Ohio bicycle shop where the Wright brothers set out to “fly a horse,” Ashton showcases the seemingly unremarkable individuals, gradual steps, multiple failures, and countless ordinary and usually uncredited acts that lead to our most astounding breakthroughs. Creators, he shows, apply in particular ways the everyday, ordinary thinking of which we are all capable, taking thousands of small steps and working in an endless loop of problem and solution. He examines why innovators meet resistance and how they overcome it, why most organizations stifle creative people, and how the most creative organizations work. Drawing on examples from art, science, business, and invention, from Mozart to the Muppets, Archimedes to Apple, Kandinsky to a can of Coke, How to Fly a Horse is a passionate and immensely rewarding exploration of how “new” comes to be.

Author : Thomas A. Durkin,Gregory Elliehausen,Michael E. Staten,Todd J. Zywicki
Publisher : Financial Management Associati
Page : 737 pages
File Size : 40,6 Mb
Release : 2014
Category : Business & Economics
ISBN : 9780195169928

Get Book

Consumer Credit and the American Economy by Thomas A. Durkin,Gregory Elliehausen,Michael E. Staten,Todd J. Zywicki Pdf

This article provides an introduction to a law review symposium by the Journal of Law, Economics, and Policy on our book (co-authored with Michael E. Staten), Consumer Credit and the American Economy (Oxford 2014). The conference, held November 2014, collects several articles responding to and building on the research agenda laid out by our book. For those who have not read the book, this article is intended to summarize several of the main themes of the book, including discussion of economic models of consumer credit usage, trends in consumer credit usage over time, the use of high-cost credit, and behavioral economics.

Author : Carlos Lozada
Publisher : Simon & Schuster
Page : 272 pages
File Size : 46,9 Mb
Release : 2020-10-06
Category : Political Science
ISBN : 9781982145620

Get Book

What Were We Thinking by Carlos Lozada Pdf

The Washington Post’s Pulitzer Prize–winning book critic uses the books of the Trump era to argue that our response to this presidency reflects the same failures of imagination that made it possible. As a book critic for The Washington Post, Carlos Lozada has read some 150 volumes claiming to diagnose why Trump was elected and what his presidency reveals about our nation. Many of these, he’s found, are more defensive than incisive, more righteous than right. In What Were We Thinking, Lozada uses these books to tell the story of how we understand ourselves in the Trump era, using as his main characters the political ideas and debates at play in America today. He dissects works on the white working class like Hillbilly Elegy; manifestos from the anti-Trump resistance like On Tyranny and No Is Not Enough; books on race, gender, and identity like How to Be an Antiracist and Good and Mad; polemics on the future of the conservative movement like The Corrosion of Conservatism; and of course plenty of books about Trump himself. Lozada’s argument is provocative: that many of these books—whether written by liberals or conservatives, activists or academics, Trump’s true believers or his harshest critics—are vulnerable to the same blind spots, resentments, and failures that gave us his presidency. But Lozada also highlights the books that succeed in illuminating how America is changing in the 21st century. What Were We Thinking is an intellectual history of the Trump era in real time, helping us transcend the battles of the moment and see ourselves for who we really are.

Author : Spencer Johnson
Publisher : Random House
Page : 112 pages
File Size : 50,8 Mb
Release : 2018-11-13
Category : Self-Help
ISBN : 9781473562240

Get Book

Out of the Maze by Spencer Johnson Pdf

'An optimistic, accessible way to start thinking about change' - Financial Times Who Moved My Cheese? offered millions of readers relief for an evergreen problem: unanticipated and unwelcome change. Now its long-awaited sequel digs deeper, to show how readers can adapt their beliefs and achieve better results in any field. Johnson's theme is that all of our accomplishments are due to our beliefs: whether we're confident or insecure, cynical or positive, open-minded or inflexible. But it's difficult to change your beliefs - and with them, your outcomes. Find out how Hem, Haw, and the other characters from Who Moved My Cheese? deal with this challenge.

Author : Robert J. Shiller
Publisher : Princeton University Press
Page : 384 pages
File Size : 46,5 Mb
Release : 2009-02-09
Category : Business & Economics
ISBN : 9781400825479

Get Book

The New Financial Order by Robert J. Shiller Pdf

In his best-selling Irrational Exuberance, Robert Shiller cautioned that society's obsession with the stock market was fueling the volatility that has since made a roller coaster of the financial system. Less noted was Shiller's admonition that our infatuation with the stock market distracts us from more durable economic prospects. These lie in the hidden potential of real assets, such as income from our livelihoods and homes. But these ''ordinary riches,'' so fundamental to our well-being, are increasingly exposed to the pervasive risks of a rapidly changing global economy. This compelling and important new book presents a fresh vision for hedging risk and securing our economic future. Shiller describes six fundamental ideas for using modern information technology and advanced financial theory to temper basic risks that have been ignored by risk management institutions--risks to the value of our jobs and our homes, to the vitality of our communities, and to the very stability of national economies. Informed by a comprehensive risk information database, this new financial order would include global markets for trading risks and exploiting myriad new financial opportunities, from inequality insurance to intergenerational social security. Just as developments in insuring risks to life, health, and catastrophe have given us a quality of life unimaginable a century ago, so Shiller's plan for securing crucial assets promises to substantially enrich our condition. Once again providing an enormous service, Shiller gives us a powerful means to convert our ordinary riches into a level of economic security, equity, and growth never before seen. And once again, what Robert Shiller says should be read and heeded by anyone with a stake in the economy.

Author : Robert J. Shiller
Publisher : Princeton University Press
Page : 392 pages
File Size : 48,9 Mb
Release : 2016-08-16
Category : Business & Economics
ISBN : 9780691173122

Get Book

Irrational Exuberance by Robert J. Shiller Pdf

Why the irrational exuberance of investors hasn't disappeared since the financial crisis In this revised, updated, and expanded edition of his New York Times bestseller, Nobel Prize–winning economist Robert Shiller, who warned of both the tech and housing bubbles, cautions that signs of irrational exuberance among investors have only increased since the 2008–9 financial crisis. With high stock and bond prices and the rising cost of housing, the post-subprime boom may well turn out to be another illustration of Shiller's influential argument that psychologically driven volatility is an inherent characteristic of all asset markets. In other words, Irrational Exuberance is as relevant as ever. Previous editions covered the stock and housing markets—and famously predicted their crashes. This edition expands its coverage to include the bond market, so that the book now addresses all of the major investment markets. It also includes updated data throughout, as well as Shiller's 2013 Nobel Prize lecture, which places the book in broader context. In addition to diagnosing the causes of asset bubbles, Irrational Exuberance recommends urgent policy changes to lessen their likelihood and severity—and suggests ways that individuals can decrease their risk before the next bubble bursts. No one whose future depends on a retirement account, a house, or other investments can afford not to read this book.