The Armchair Economist
Author: Wonder House Books
ISBN: 978-9388144605
Price: Rs. 499.00 • ✓ 100% Genuine Publisher Edition
Book Overview
Air bags cause accidents, because well-protected drivers take more risks. This well-documented truth comes as a surprise to most people, but not to economists, who have learned to take seriously the proposition that people respond to incentives. In The Armchair Economist, Steven E. Landsburg shows how the laws of economics reveal themselves in everyday experience and illuminate the entire range of human behavior. Why does popcorn cost so much at the cinema? The 'obvious' answer is that the owner has a monopoly, but if that were the whole story, there would also be a monopoly price to use the toilet. When a sudden frost destroys much of the Florida orange crop and prices skyrocket, journalists point to the 'obvious' exercise of monopoly power. Economists see just the opposite: If growers had monopoly power, they'd have raised prices before the frost. Why don't concert promoters raise ticket prices even when they are sure they will sell out months in advance? Why are some goods sold at auction and others at pre-announced prices? Why do boxes at the football sell out before the standard seats do? Why are bank buildings fancier than supermarkets? Why do corporations confer huge pensions on failed executives? Why don't firms require workers to buy their jobs? Landsburg explains why the obvious answers are wrong, reveals better answers, and illuminates the fundamental laws of human behavior along the way. This is a book of surprises: a guided tour of the familiar, filtered through a decidedly unfamiliar lens. This is economics for the sheer intellectual joy of it.
Browse this title within our Analysis & Strategy collection. Edition details: Images in this review, English, 96 pages. Reference ISBN: 978-9388144605.
About the Author
Wonder House has a dedicated team of editors and designers involved in the development of magnificent and enriching children books. The team pays special attention to develop age appropriate content and does extensive research on every topic included in the book. Our mission is to develop highly informative content which will help the children to master different skills. At Wonder House, we strive to make learning a joy.
Book Specifications & Quick Facts
- Reading Level
- Students & Academic Researchers
- Language & Format
- English • Images in this review
- ISBN Reference
- 978-9388144605
- Publisher
- Wonder House Books
- Pan-India Delivery
- Dispatches in 24–48 Hours across India
What is this book about?
Air bags cause accidents, because well-protected drivers take more risks. This well-documented truth comes as a surprise to most people, but not to economists, who have learned to take seriously the proposition that people respond to incentives. In The Armchair Economist, Steven E. Landsburg shows...
Who should read this book?
Valuable for university students, educators, and scholars seeking authoritative reference material and structured subject mastery.
Why Readers Pick This Edition
- You’ll love this book because it trains you to see the hidden logic behind everyday life. With sharp wit and real-world examples, it shows you how incentives quietly shape human behavior—from movie popcorn prices to safety rules that backfire. It’s not a dry textbook, but a fun, eye-opening read that makes you think smarter, question “obvious” explanations, and understand the world like an economist, even if you’ve never studied economics before.
- Published by Wonder House Books.
- Language: English.
- Page count: 96.
Catalog Description
Air bags cause accidents, because well-protected drivers take more risks. This well-documented truth comes as a surprise to most people, but not to economists, who have learned to take seriously the proposition that people respond to incentives. In The Armchair Economist, Steven E. Landsburg shows how the laws of economics reveal themselves in everyday experience and illuminate the entire range of human behavior. Why does popcorn cost so much at the cinema? The 'obvious' answer is that the owner has a monopoly, but if that were the whole story, there would also be a monopoly price to use the toilet. When a sudden frost destroys much of the Florida orange crop and prices skyrocket,...
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