The Inner Lives of Markets: How People Shape Them - And They Shape Us

Ray Fisman Tim Sullivan

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The Inner Lives of Markets: How People Shape Them - And They Shape Us

The Inner Lives of Markets How People Shape Them And They Shape Us What is a market To most people it is a shopping center or an abstract space in which stock prices vary minutely In reality a market is something much fundamental to being human and it affects not j

  • Title: The Inner Lives of Markets: How People Shape Them - And They Shape Us
  • Author: Ray Fisman Tim Sullivan
  • ISBN: null
  • Page: 370
  • Format: Kindle Edition
  • What is a market To most people it is a shopping center or an abstract space in which stock prices vary minutely In reality, a market is something much fundamental to being human, and it affects not just the price of tomatoes but the boundaries of everything we value.Reading the newspapers these days, you could be forgiven for thinking that markets are getting everWhat is a market To most people it is a shopping center or an abstract space in which stock prices vary minutely In reality, a market is something much fundamental to being human, and it affects not just the price of tomatoes but the boundaries of everything we value.Reading the newspapers these days, you could be forgiven for thinking that markets are getting ever efficient and better But as Tim Sullivan and Ray Fisman argue in this insightful book, that view is far from complete For one thing, efficiency isn t always a good thing illegal markets are very often efficient than legal ones, because they are free of concern for laws and human rights But even importantly, the chatter about efficiency has obscured a much broader conversation about what kind of economic exchange we actually want Every regulation, every sticker price, and every sale is part of an ever changing ecosystem one that affects us as much as we affect it.By tracing 50 years of economic thought on this subject, Fisman and Sullivan show how markets have evolved and how we can keep making them better This leads to fascinating and surprising insights, such as Why your 10,000 used car is likely to sell for 2,000 or less Why you should think twice before buying batteries on and Why it s essential that healthy people buy medical insurance.In the end, The Inner Lives of Markets argues for a new way of thinking about how you spend your money it shows that every transaction you make is part of a grand social experiment We are all guinea pigs running through a lab maze, and the sooner we realize it, the effectively we can navigate the path we want.

    • Best Read [Ray Fisman Tim Sullivan] ✓ The Inner Lives of Markets: How People Shape Them - And They Shape Us || [Fiction Book] PDF ê
      370 Ray Fisman Tim Sullivan
    • thumbnail Title: Best Read [Ray Fisman Tim Sullivan] ✓ The Inner Lives of Markets: How People Shape Them - And They Shape Us || [Fiction Book] PDF ê
      Posted by:Ray Fisman Tim Sullivan
      Published :2019-01-23T23:15:04+00:00

    One thought on “The Inner Lives of Markets: How People Shape Them - And They Shape Us

    1. Athan Tolis on said:

      HL Mencken is credited with saying that “for every complex problem there is an answer that is clear, simple and wrong.”The authors of “Inner Lives of Markets” claim to have been inspired by a book they found at the MIT bookstore that contained “reprints of the most important physics papers of the twentieth century, together with […] what they accomplished and why they were important.”What they have borrowed from this book is the structure, rather than the goal.Their much higher aim [...]

    2. Rahul Shaha on said:

      Its a pretty good read in parts. The start is very interesting and insightful. But in the first couple of chapters, the book gets a bit too much into citations :P or basically praising all the economists. (I seriously considered not going further in the second chapter). But, the third chapter on is when this book reveals some unique market traits and development stories that makes the book definitely a worthwhile read. If one skips Chapters 1 and 2 (especially 2), its a 4-star rather than the 3 [...]

    3. Jill on said:

      I read this shortly after finishing Makers and Takers: The Rise of Finance and the Fall of American Business, which made it very difficult for me to warm to the opening chapters of this book, discussing RAND Corporation and the "mathematization" of economic theory. Makers is considerably less enamoured of the legacy of RAND than Fisman and Sullivan; and I personally consider the "mathematization" of economics one of the greatest scams of modern academia. Although the proofs and models the post-w [...]

    4. Hua Wang on said:

      It took me a while to get used to the way the authors tell stories. But once I was in the zone, I kinda enjoyed reading about the economics concepts and how they shaped our lives. It is worth reading. Plus, it is really short.

    5. Heiko on said:

      Very good book about the working of markets and what it means for us. There are a lot of examples which show where and how markets work, which might not be obvious for non-economists. The author also shows that pure economic thought does not necessarily apply to the real world but there always needs to be a combination of theory and real life

    6. Robert on said:

      Lumbering descriptions of theory and an endless stream of parenthetic asides mire down the flow. One sentence drones on for seven lines in a vain attempt to explain a concept. One aside took an entire paragraph. At under 200 pages this read on the evolution of Economics from Smith to today's shared economy was more annoying than enlightening.

    7. Matt Austin on said:

      Overall, an intriguing book, but I was a little bored by the end. In addition, I found the book to be a rollercoaster; certain chapters were excellent, but others were very difficult to finish. I would recommend The Inner Lives of Markets, but don't expect a page turner.

    8. Arup on said:

      Comprehensive and smooth read about markets. Starts with market efficiency, covers market asymmetry, design, platforms, market failure, a little bit of ethics and trade-offs between free-market capitalism and socialism.

    9. Lloyd Fassett on said:

      8/5/16 it was reviewed in the WSJ. Sounds like a review of market analysis work since WW2

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