Life sometimes seems illogical. Individuals do strange things: take drugs, have unprotected sex, mug each other. Love seems irrational, and so does divorce. On a larger scale, life seems no fairer or easier to fathom: Why do some neighborhoods thrive and others become ghettos? W…
Analyzes the underlying economic logic behind seemingly irrational behavior, explaining how people are responding to future costs and benefits and how socially tragic outcomes have their roots in individually rational decisions.
In this deftly reasoned book, Harford argues that life is logical after all. Under the surface of everyday insanity, hidden incentives are at work, and Harford shows these incentives emerging in the most unlikely places. Using tools ranging from animal experiments to supercomput…
Analyzes the underlying economic logic behind seemingly irrational behavior, explaining how people are responding to future costs and benefits and how socially tragic outcomes have their roots in individually rational decisions.
The authors reconceptualize existing macroeconomics by treating equilibria as statistical distributions, not as fixed points.
This book surveys the imperfect-information approach to inflation and its real effects. Two types of informational limitation are considered. One involves situations in which individuals have asymmetric information about the current general price level and consequently confuse r…
This book surveys the imperfect-information approach to inflation and its real effects. Two types of informational limitation are considered. One involves situations in which individuals have asymmetric information about the current general price level and consequently confuse r…
