0029177766,The Armchair Economist: Economics and Everyday Life,The,Armchair,Economist:,Economics,and,Everyday,Life,buy,book,books,purchase,read,Steven E. Landsburg
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Quotations

"Writers should be read, but neither seen nor heard."

  Daphne du Maurier

 

 

The Armchair Economist:
Economics and Everyday Life

 
  by Steven E. Landsburg
 
 
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ZIN Product Number: 10002699

 
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 Product Details

  Format: Paperback, 241 pages
  Publisher: Simon & Schuster
  ISBN: 0029177766
  Release Date: Jan 7, 2001


 
 
Cover to Cover
 In Brief
The author aims to demonstrate "the economist's way of thinking about everyday occurrences. . . . {This} compilation of questions {ranges} from why popcorn costs so much at movie theaters and why rock concerts sell out to why laws against polygamy are detrimental to women." (Libr J) Index.

 
 
 From The Publisher
Seat belts cause accidents because well-protected drivers take more risks. This widely documented fact comes as a surprise to most people, but not to economists, who have learned, perhaps better than most, to take seriously the proposition that people respond to incentives in complicated ways. In The Armchair Economist, Steven E. Landsburg shows how economic thinking illuminates the entire range of human behavior. But instead of focusing on the workings of financial markets, international trade, and other topics distant from the experience of most readers, Landsburg mines the details of daily life to reveal what the laws of economics tell us about ourselves. As Landsburg shows, some behavior that strikes most people as utterly unremarkable is quite extraordinary when seen through economists' eyes. Why, for example, does popcorn cost so much at the movie theater? The "obvious" answer is that the theater owner has a monopoly. But if that were the whole story then he would charge a monopoly price for use of the restrooms as well. When a sudden frost destroys much of the Florida orange crop and prices skyrocket, journalists often point to "obvious" evidence of monopoly power. Economists see just the opposite: If growers had monopoly power, they wouldn't have to wait for a frost to raise prices. Why do restaurants earn higher profits on liquor than on food? Why are some goods sold at auction and others at pre-announced prices? Why don't concert promoters raise ticket prices even when they sell out months in advance? Why do box seats at the ballpark sell out before bleachers do? Why do corporations confer huge pensions on failed executives? Landsburg wields the tools of the economist's trade to solve these puzzles, often reaching conclusions that are at odds with our intuition. After revealing economic principles in readily apparent phenomena of everyday life, Landsburg applies these same principles to newspaper and media accounts of public issues. Contesting the wid

 
 
 Annotation
Most people associate economics with large-scale wonders like the stock market, big business, and international trade. The Armchair Economist shows how the laws of economics reveal themselves in the details of everyday life. Landsburg explains many key ideas in chapters that read more like detective stories than textbook lessons.

 
 
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Table of Contents
 
Introduction
IWhat Life is All About
1The Power of Incentives: How Seat Belts Kill3
2Rational Riddles: Why the Rolling Stones Sell Out10
3Truth or Consequences: How to Split a Check or Choose a Movie20
4The Indifference Principle: Who Cares If the Air Is Clean?31
5The Computer Game of Life: Learning What It's All About42
IIGood and Evil
6Telling Right from Wrong: The Pitfalls of Democracy49
7Why Taxes Are Bad: The Logic of Efficiency60
8Why Prices Are Good: Smith Versus Darwin73
9Of Medicine and Candy, Trains and Sparks: Economics in the Courtroom83
IIIHow to Read the News
10Choosing Sides in the Drug War: How the Atlantic Monthly Got It Wrong95
11The Mythology of Deficits106
12Sound and Fury: Spurious Wisdom from the Op-Ed Pages116
13How Statistics Lie: Unemployment Can Be Good for You127
14The Policy Vice: Do We Need More Illiterates?138
15Some Modest Proposals: The End of Bipartisanship146
IVHow Markets Work
16Why Popcorn Costs More at the Movies and Why the Obvious Answer Is Wrong157
17Courtship and Collusion: The Mating Game168
18Cursed Winners and Glum Losers: Why Life Is Full of Disappointments174
19Ideas of Interest: Armchair Forecasting181
20Random Walks and Stock Market Prices: A Primer for Investors188
21The Iowa Car Crop197
VThe Pitfalls of Science
22Was Einstein Credible? The Economics of Scientific Method203
23New, Improved Football: How Economists Go Wrong211
VIThe Pitfalls of Religion
24Why I Am Not an Environmentalist: The Science of Economics Versus the Religion of Ecology223
Appendix: Notes on Sources233
Index237


 
 
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 Keywords
Business/Economics, Business / Economics / Finance, Economics - General, Anthropology - Cultural, Economics, Sociological aspects

 
 
 FastFind Line
Inverse Black Hole
By the Numbers
By the Numbers
Cover To Cover
Cover to Cover
Reader's Corner
Reader's Corner
Table of Contents
Table of Contents
Related Reading
Related Reading
Inverse Black Hole
FastFind Line
 
 


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