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The Irrational Economist

Written by: Erwann Michel-Kerjan, Paul Slovic
Narrated by: Bill Quinn
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Publisher's Summary

Of the 20 most costly catastrophes since 1970, more than half have occurred since 2001. Is this an omen of what the 21st century will be? How might we behave in this new, uncertain and more dangerous environment? Will our actions be rational or irrational?

A select group of scholars, innovators, and Nobel Laureates was asked to address challenges to rational decision making both in our day-to-day life and in the face of catastrophic threats such as climate changes, natural disasters, technological hazards, and human malevolence. At the crossroads of decision sciences, behavioral and neuro-economics, psychology, management, insurance, and finance, their contributions aim to introduce readers to the latest thinking and discoveries.

The Irrational Economist challenges the conventional wisdom about how to make the right decisions in the new era we have entered. It reveals a profound revolution in thinking as understood by some of the greatest minds in our day, and underscores the growing role and impact of economists and other social scientists as they guide our most important personal and societal decisions.

Due to the author's superstitions, Chapter 13 has been intentionally omitted from this book.
©2010 Erwann Michel-Kerjan and Paul Slovic (P)2009 Audible, Inc.
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What the critics say

“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.” (Publishers Weekly)
“The Irrational Economist challenges 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.” (Joseph Stiglitz)
“In The Irrational Economist some 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.” (Richard M. Smith, Chairman, Newsweek)

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