The Secret of Our Success: How Culture Is Driving Human Evolution, Domesticating Our Species, and Making Us Smarter
by Joseph Henrich · 27 Oct 2015 · 631pp · 177,227 words
I was doing. I started by going to the library to take out a stack of books. I read books on cognitive psychology, decision-making, experimental economics, biology, and evolutionary psychology. Then I moved to journal articles. I read every article ever written on an economics experiment called the Ultimatum Game, which
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decisions. Well-known economic games include the Prisoner’s Dilemma, Ultimatum Game, and Dictator Game. To understand these experiments, imagine this situation: You enter an experimental economics laboratory at Big City University. It’s filled with college-age strangers seated at computer terminals. You are told to sit down at an open
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. F. 1989. “Does the basketball market believe in the ‘hot hand’?” American Economic Review 79:1257–61. ———. 1995. “Individual decision making.” In The Handbook of Experimental Economics, edited by J. H. Kagel and A. E. Roth, 587–703. Princeton, NJ: Princeton University Press. Campbell, B. C. 2011. “Adrenarche and middle childhood.” Human
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. 2003. “Human domestication reconsidered.” Current Anthropology 44 (3):349–368. Ledyard, J. O. 1995. “Public goods: A survey of experimental research.” In The Handbook of Experimental Economics, edited by John H. Kagel and Alvin E. Roth, 111–194. Princeton, NJ: Princeton University Press. Lee, R. B. 1979. The !Kung San: Men, Women
Adaptive Markets: Financial Evolution at the Speed of Thought
by Andrew W. Lo · 3 Apr 2017 · 733pp · 179,391 words
different behaviors. As we saw earlier, nature abhors an undiversified bet. THE ORIGIN OF RISK AVERSION Probability matching may seem like foolish behavior in an experimental economics laboratory, but it’s likely to have originated from an environment where that kind of behavior conferred certain survival benefits that other behaviors did not
The Penguin and the Leviathan: How Cooperation Triumphs Over Self-Interest
by Yochai Benkler · 8 Aug 2011 · 187pp · 62,861 words
so inherently selfish after all. Through the work of hundreds of scientists, we have begun to see mounting evidence in psychology, organizational sociology, political science, experimental economics, and elsewhere that people are in fact more cooperative and selfless, or at least behave far less selfishly, than most economists and others previously assumed
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to do what is right and fair, and our desire to conform to the normal. I will draw from such diverse fields as evolutionary biology, experimental economics, psychology, organizational sociology, and neuroscience. I’ll also draw from the real world, with examples ranging from the band Radiohead’s online pricing (or non
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fairness in one way or another. What, then, might we be caring about when we feel that we care about fairness? In looking through the experimental economics and social psychology literature, it seems that when we care about “fairness” we really care about three distinct things: fairness of outcomes, fairness of intentions
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the sheer size of the payment itself makes the outcome, the process, and the intentions seem unfair and unacceptable. The critical lesson from work in experimental economics and social psychology, as well as in business and social studies, is that our desire for fairness, as it is understood in a cultural context
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through practice, had not been a serious subject of study for decades. Today it is becoming a new area of research at the intersection of experimental economics, organizational sociology, political science, and evolutionary biology. Already there is enough evidence to suspect that, when it comes to cooperation, practice makes perfect—that by
Model Thinker: What You Need to Know to Make Data Work for You
by Scott E. Page · 27 Nov 2018 · 543pp · 153,550 words
Strategy 6, no. 3: 639–675. Ledyard, John, David Porter, and Randii Wessen. 2000. “A Market-Based Mechanism for Allocating Space Shuttle Secondary Payload Priority.” Experimental Economics 2, no. 3: 173–195. Levins, Richard. 1966. “The Strategy of Model Building in Population Biology.” American Scientist 54: 421–431. Levinthal, Daniel A. 1997
Blueprint: The Evolutionary Origins of a Good Society
by Nicholas A. Christakis · 26 Mar 2019
,” Science, June 7, 2016. 4. J. J. Horton, D. G. Rand, and R. J. Zeckhauser, “The Online Laboratory: Conducting Experiments in a Real Labor Market,” Experimental Economics 14 (2011): 399–425; E. Snowberg and L. Yariv, “Testing the Waters: Behavior Across Participant Pools” (working paper no. 24781, National Bureau of Economic Research
Against the Gods: The Remarkable Story of Risk
by Peter L. Bernstein · 23 Aug 1996 · 415pp · 125,089 words
-by studying sweetpeas and generational change in human beings; he came up with the theory after looking at the facts. Alvin Roth, an expert on experimental economics, has observed that Nicholas Bernoulli conducted the first known psychological experiment more than 250 years ago: he proposed the coin-tossing game between Peter and
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Investing." Journal of Portfolio Management, Vol. 22, No. 1 (Fall), pp. 21-32. Kagel, John H., and Alvin E. Roth, eds., 1995. The Handbook of Experimental Economics. Princeton, New Jersey: Princeton University Press. Kahneman, Daniel, and Amos Tversky, 1979. "Prospect Theory: An Analysis of Decision under Risk." Econometrica, Vol. 47, No. 2
Good Economics for Hard Times: Better Answers to Our Biggest Problems
by Abhijit V. Banerjee and Esther Duflo · 12 Nov 2019 · 470pp · 148,730 words
Israel to play a trust game with Eastern Jews (Asian and African immigrants and their descendants). The trust game is one of the mainstays of experimental economics. It is played by two people, one of whom, the sender, is given a certain amount of money and asked to share some part of
Liars and Outliers: How Security Holds Society Together
by Bruce Schneier · 14 Feb 2012 · 503pp · 131,064 words
for the Origins of Kindness, W.W. Norton & Co. bargaining games Gary E. Bolton (1998), “Bargaining and Dilemma Games: From Laboratory Data Towards Theoretical Synthesis,” Experimental Economics, 1:257–81. found a coin Paula F. Levin and Alice M. Isen (1972), “The Effect of Feeling Good on Helping: Cookies and Kindness,” Journal
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Economics & Management Strategy, 15:353–69. Paul Resnick, Richard Zeckhauser, John Zwanson, and Kate Lockwood (2006), “The Value of Reputation on eBay: A Controlled Experiment,” Experimental Economics, 9:79–101. Jian Yang, Xiaorhi Hu, and Han Zhang (2007), “Effects of a Reputation Feedback System on an Online Consumer-to-Consumer Auction Market
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starting Kerri Smith (2011), “Neuroscience vs Philosophy: Taking Aim at Free Will,” Nature, 477:23–5. Ultimatum game Charles A. Holt (2000), “Y2K Bibliography of Experimental Economics and Social Science: Ultimatum Game Experiments,” University of Virginia. Hessel Oosterbeek, Randolph Sloof, and Gijs van de Kuilen (2004), “Cultural Differences in Ultimatum Game Experiments
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: Evidence From a Meta-Analysis,” Experimental Economics, 7:171–88. how the game works Werner Güth, Rolf Schmittberger, and Bernd Schwarze (1982), “An Experimental Analysis of Ultimatum Bargaining,” Journal of Economic Behavior
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:267–88. turn down offers Hessel Oosterbeek, Randolph Sloof, and Gijs van de Kuilen (2004), “Differences in Ultimatum Game Experiments: Evidence from a Meta-Analysis,” Experimental Economics, 7:171–88. cultural backgrounds Donna L. Bahry (2004), “Trust in Transitional Societies: Experimental Results from Russia,” Paper presented at the American Political Science Association
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, and Richard H. Thaler (1986), “Fairness and the Assumptions of Economics,” Journal of Business, 59:S285–S300. Christoph Engel (2011), “Dictator Games: A Meta Study,” Experimental Economics, 14:584–610. Trust game Joyce Berg, John Dickhaut, and Kevin McCabe (1995), “Trust, Reciprocity, and Social History,” Games & Economic Behavior, 10:122–42. not
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. Public Goods game John O. Ledyard (1995), “Public Goods: A Survey of Experimental Research,” in Alvin E. Roth and John H. Kagel, eds., Handbook of Experimental Economics, Princeton University Press. fear of rejection Daniel Kahneman, John L. Knetsch, and Richard H Thaler (1986), “Fairness and the Assumptions of Economics,” Journal of Business
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Stick: Rewards, Punishments, and Cooperation,” The American Economic Review, 93:893–902. game is about taking Nicholas Bardsley (2008), “Dictator Game Giving: Altruism or Artifact?” Experimental Economics, 11:122–33. Distrust game Iris Bohnet and Stephan Meier (2005), “Deciding to Distrust,” Federal Reserve Bank of Boston Public Policy Discussion Paper 05–4
Thinking, Fast and Slow
by Daniel Kahneman · 24 Oct 2011 · 654pp · 191,864 words
goods that are held for use and for exchange. We borrowed one aspect of the design of our experiment from Vernon Smith, the founder of experimental economics, with whom I would share a Nobel Prize many years later. In this method, a limited number of tokens are distributed to the participants in
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, the main motivators of money-seeking are not necessarily economic. For the billionaire looking for the extra billion, and indeed for the participant in an experimental economics project looking for the extra dollar, money is a proxy for points on a scale of self-regard and achievement. These rewards and punishments, promises
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Kahneman, “Loss Aversion in Riskless Choice.” Eric J. Johnson, Simon Gächter, and Andreas Herrmann, “Exploring the Nature of Loss Aversion,” Centre for Decision Research and Experimental Economics, University of Nottingham, Discussion Paper Series, 2006. Edward J. McCaffery, Daniel Kahneman, and Matthew L. Spitzer, “Framing the Jury: Cognitive Perspectives on Pain and Suffering
Cognitive Surplus: Creativity and Generosity in a Connected Age
by Clay Shirky · 9 Jun 2010 · 236pp · 66,081 words
: Paul Resnick published these findings with his coauthors Richard Zeckhauser, John Swanson, and Kate Lockwood, in “The Value of Reputation on eBay: A Controlled Experiment,” Experimental Economics 9.2 (2006): 79-101. 179 added a fake quote to composer Maurice Jarre’s Wikipedia page: Shawn Pogatchnik discussed Fitzgerald’s actions in “Student
Priceless: The Myth of Fair Value (And How to Take Advantage of It)
by William Poundstone · 1 Jan 2010 · 519pp · 104,396 words
Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist
by Kate Raworth · 22 Mar 2017 · 403pp · 111,119 words
Randomistas: How Radical Researchers Changed Our World
by Andrew Leigh · 14 Sep 2018 · 340pp · 94,464 words
Misbehaving: The Making of Behavioral Economics
by Richard H. Thaler · 10 May 2015 · 500pp · 145,005 words
Capitalism 4.0: The Birth of a New Economy in the Aftermath of Crisis
by Anatole Kaletsky · 22 Jun 2010 · 484pp · 136,735 words
Why Stock Markets Crash: Critical Events in Complex Financial Systems
by Didier Sornette · 18 Nov 2002 · 442pp · 39,064 words
Europe: A History
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A Beautiful Mind
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Top Dog: The Science of Winning and Losing
by Po Bronson and Ashley Merryman · 19 Feb 2013 · 407pp · 109,653 words
The WEIRDest People in the World: How the West Became Psychologically Peculiar and Particularly Prosperous
by Joseph Henrich · 7 Sep 2020 · 796pp · 223,275 words
The Wisdom of Crowds
by James Surowiecki · 1 Jan 2004 · 326pp · 106,053 words
Bourgeois Dignity: Why Economics Can't Explain the Modern World
by Deirdre N. McCloskey · 15 Nov 2011 · 1,205pp · 308,891 words
The Economics of Enough: How to Run the Economy as if the Future Matters
by Diane Coyle · 21 Feb 2011 · 523pp · 111,615 words
Small Wars, Big Data: The Information Revolution in Modern Conflict
by Eli Berman, Joseph H. Felter, Jacob N. Shapiro and Vestal Mcintyre · 12 May 2018 · 517pp · 147,591 words
The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street
by Justin Fox · 29 May 2009 · 461pp · 128,421 words
The Irrational Economist: Making Decisions in a Dangerous World
by Erwann Michel-Kerjan and Paul Slovic · 5 Jan 2010 · 411pp · 108,119 words
Smart Mobs: The Next Social Revolution
by Howard Rheingold · 24 Dec 2011
Radical Uncertainty: Decision-Making for an Unknowable Future
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The Spirit Level: Why Greater Equality Makes Societies Stronger
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Testosterone Rex: Myths of Sex, Science, and Society
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Hive Mind: How Your Nation’s IQ Matters So Much More Than Your Own
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The Logic of Life: The Rational Economics of an Irrational World
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Adam Smith: Father of Economics
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Virtual Competition
by Ariel Ezrachi and Maurice E. Stucke · 30 Nov 2016
SuperFreakonomics
by Steven D. Levitt and Stephen J. Dubner · 19 Oct 2009 · 302pp · 83,116 words
Reinventing the Bazaar: A Natural History of Markets
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Atomic Accidents: A History of Nuclear Meltdowns and Disasters: From the Ozark Mountains to Fukushima
by James Mahaffey · 15 Feb 2015
Age of Discovery: Navigating the Risks and Rewards of Our New Renaissance
by Ian Goldin and Chris Kutarna · 23 May 2016 · 437pp · 113,173 words
Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown
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Nerds on Wall Street: Math, Machines and Wired Markets
by David J. Leinweber · 31 Dec 2008 · 402pp · 110,972 words
Drunk: How We Sipped, Danced, and Stumbled Our Way to Civilization
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Finance and the Good Society
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China's Disruptors: How Alibaba, Xiaomi, Tencent, and Other Companies Are Changing the Rules of Business
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Think Twice: Harnessing the Power of Counterintuition
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Spite: The Upside of Your Dark Side
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Exodus: How Migration Is Changing Our World
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Termites of the State: Why Complexity Leads to Inequality
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The Middleman Economy: How Brokers, Agents, Dealers, and Everyday Matchmakers Create Value and Profit
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You Are Not So Smart
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Who Gets What — and Why: The New Economics of Matchmaking and Market Design
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Superminds: The Surprising Power of People and Computers Thinking Together
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Late Bloomers: The Power of Patience in a World Obsessed With Early Achievement
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Lean In: Women, Work, and the Will to Lead
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Against Intellectual Monopoly
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What to Think About Machines That Think: Today's Leading Thinkers on the Age of Machine Intelligence
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Emotional Ignorance: Lost and Found in the Science of Emotion
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Making Sense of Chaos: A Better Economics for a Better World
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The Future Is Faster Than You Think: How Converging Technologies Are Transforming Business, Industries, and Our Lives
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Calling Bullshit: The Art of Scepticism in a Data-Driven World
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The Captured Economy: How the Powerful Enrich Themselves, Slow Down Growth, and Increase Inequality
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Life You Can Save: Acting Now to End World Poverty
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Culture and Prosperity: The Truth About Markets - Why Some Nations Are Rich but Most Remain Poor
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Dollars and Sense: How We Misthink Money and How to Spend Smarter
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Big Business: A Love Letter to an American Anti-Hero
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Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud
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The Future of Technology
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The Marginal Revolutionaries: How Austrian Economists Fought the War of Ideas
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Big Three in Economics: Adam Smith, Karl Marx, and John Maynard Keynes
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Chokepoints: American Power in the Age of Economic Warfare
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Empirical Market Microstructure: The Institutions, Economics and Econometrics of Securities Trading
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A Pelican Introduction Economics: A User's Guide
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What's Mine Is Yours: How Collaborative Consumption Is Changing the Way We Live
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Greater: Britain After the Storm
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The Starfish and the Spider: The Unstoppable Power of Leaderless Organizations
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Average Is Over: Powering America Beyond the Age of the Great Stagnation
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Hubris: Why Economists Failed to Predict the Crisis and How to Avoid the Next One
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The Economics Anti-Textbook: A Critical Thinker's Guide to Microeconomics
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