scarcity why having too little means so much

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Scarcity

Author : Sendhil Mullainathan
ISBN : 9781429943451
Genre : Business & Economics
File Size : 73. 99 MB
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A surprising and intriguing examination of how scarcity—and our flawed responses to it—shapes our lives, our society, and our culture Why do successful people get things done at the last minute? Why does poverty persist? Why do organizations get stuck firefighting? Why do the lonely find it hard to make friends? These questions seem unconnected, yet Sendhil Mullainathan and Eldar Shafir show that they are all examples of a mind-set produced by scarcity. Drawing on cutting-edge research from behavioral science and economics, Mullainathan and Shafir show that scarcity creates a similar psychology for everyone struggling to manage with less than they need. Busy people fail to manage their time efficiently for the same reasons the poor and those maxed out on credit cards fail to manage their money. The dynamics of scarcity reveal why dieters find it hard to resist temptation, why students and busy executives mismanage their time, and why sugarcane farmers are smarter after harvest than before. Once we start thinking in terms of scarcity and the strategies it imposes, the problems of modern life come into sharper focus. Mullainathan and Shafir discuss how scarcity affects our daily lives, recounting anecdotes of their own foibles and making surprising connections that bring this research alive. Their book provides a new way of understanding why the poor stay poor and the busy stay busy, and it reveals not only how scarcity leads us astray but also how individuals and organizations can better manage scarcity for greater satisfaction and success.

Scarcity

Author : Sendhil Mullainathan
ISBN : 9780141961194
Genre : Social Science
File Size : 82. 22 MB
Format : PDF
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Why can we never seem to keep on top of our workload, social diary or chores? Why does poverty persist around the world? Why do successful people do things at the last minute in a sudden rush of energy? Here, economist Sendhil Mullainathan and psychologist Eldar Shafir reveal that the hidden side of all these problems is that they're all about scarcity. We've all struggled with packing a suitcase with too many items and not enough time to do it. In Scarcity, two intellectual adventurers show us that this simple idea explains the most fundamental problems in all walks of life. Using the new science of scarcity, they explain why obesity is rampant; why people find it difficult to sleep when most sleep deprived; and why the lonely find it so hard to make friends. Scarcity will change the way you think about both the little everyday tasks and the big issues of global urgency. Sendhil Mullainathan is a Professor of Economics at Harvard, and a recipient of a MacArthur Foundation "genius grant". He conducts research on development economics, behavioral economics, and corporate finance. He is Executive Director of Ideas 42, Institute of Quantitative Social Science, Harvard University. Eldar Shafir is William Stewart Tod Professor of Psychology and Public Affairs at Princeton University. Most of his work focuses on descriptive analyses of inference, judgment, and decision making, and on issues related to behavioral economics. 'Stars in their respective disciplines, and the combination is greater than the sum of its parts. Their project has a unique feel to it: it is the finest combination of heart and head that I have seen in our field', Daniel Kahneman, author of Thinking, Fast and Slow 'Scarcity is a captivating book, overflowing with new ideas, fantastic stories, and simple suggestions that just might change the way you live' Steven D. Levitt, coauthor of Freakonomics 'Here is a winning recipe. Take a behavioral economist and a cognitive psychologist, each a prominent leader in his field, and let their creative minds commingle. What you get is a highly original and easily readable book that is full of intriguing insights. What does a single mom trying to make partner at a major law firm have in common with a peasant who spends half her income on interest payments? The answer is scarcity. Read this book to learn the surprising ways in which scarcity affects us all', Richard Thaler, co-author of Nudge

Scarcity

Author : Sendhil Mullainathan
ISBN : 125005611X
Genre : Business & Economics
File Size : 53. 43 MB
Format : PDF, ePub
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In this provocative book based on cutting-edge research, Sendhil Mullainathan and Eldar Shafir show that scarcity creates a distinct psychology for everyone struggling to manage with less than they need. Busy people fail to manage their time efficiently for the same reasons the poor and those maxed out on credit cards fail to manage their money. The dynamics of scarcity reveal why dieters find it hard to resist temptation, why students and busy executives mismanage their time, and why the same sugarcane farmers are smarter after harvest than before. Once we start thinking in terms of scarcity, the problems of modern life come into sharper focus, and Scarcity reveals not only how it leads us astray but also how individuals and organizations can better manage scarcity for greater satisfaction and success.

Nudge

Author : Cass R Sunstein
ISBN : 9780141976105
Genre : Business & Economics
File Size : 60. 75 MB
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Every day we make decisions: about the things that we buy or the meals we eat; about the investments we make or our children's health and education; even the causes that we champion or the planet itself. Unfortunately, we often choose poorly. We are all susceptible to biases that can lead us to make bad decisions that make us poorer, less healthy and less happy. And, as Thaler and Sunstein show, no choice is ever presented to us in a neutral way. By knowing how people think, we can make it easier for them to choose what is best for them, their families and society. Using dozens of eye-opening examples the authors demonstrate how to nudge us in the right directions, without restricting our freedom of choice. Nudge offers a unique new way of looking at the world for individuals and governments alike. This is one of the most engaging, provocative and important books you will ever read.

Simpler

Author : Cass R. Sunstein
ISBN : 9781476726618
Genre : Political Science
File Size : 86. 55 MB
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Simpler government arrived four years ago. It helped put money in your pocket. It saved hours of your time. It improved your children’s diet, lengthened your life span, and benefited businesses large and small. It did so by issuing fewer regulations, by insisting on smarter regulations, and by eliminating or improving old regulations. Cass R. Sunstein, as administrator of the most powerful White House office you’ve never heard of, oversaw it and explains how it works, why government will never be the same again (thank goodness), and what must happen in the future. Cutting-edge research in behavioral economics has influenced business and politics. Long at the forefront of that research, Sunstein, for three years President Obama’s “regulatory czar” heading the White House Office of Information and Regulatory Affairs, oversaw a far-reaching restructuring of America’s regulatory state. In this highly anticipated book, Sunstein pulls back the curtain to show what was done, why Americans are better off as a result, and what the future has in store. The evidence is all around you, and more is coming soon. Simplified mortgages and student loan applications. Scorecards for colleges and universities. Improved labeling of food and energy-efficient appliances and cars. Calories printed on chain restaurant menus. Healthier food in public schools. Backed by historic executive orders ensuring transparency and accountability, simpler government can be found in new initiatives that save money and time, improve health, and lengthen lives. Simpler: The Future of Government will transform what you think government can and should accomplish.

The Inner Lives Of Markets

Author : Ray Fisman
ISBN : 9781444788594
Genre : Business & Economics
File Size : 34. 1 MB
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'...a quick, and exceedingly engaging, tour of economic history...' Financial Times 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 more 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 more 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 more efficient than legal ones, because they are free of concern for laws and human rights. But even more 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 Amazon; 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 more effectively we can navigate the path we want.

The House Advantage

Author : Jeffrey Ma
ISBN : 0230109683
Genre : Business & Economics
File Size : 67. 18 MB
Format : PDF, Kindle
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As part of the notorious MIT Team depicted in Ben Mezrich's now classic Bringing Down the House, Jeff Ma used math and statistics to master the game of blackjack and reap handsome rewards at casinos. Years later, Ma has inspired not only a bestselling novel and hit movie, but has also started three different companies—the latest of which, Citizen Sports, is an innovative marriage of sports, betting, and digital technology—and launched a successful corporate speaking career. The House Advantage reveals Ma's cutting-edge mathematical insights into the world of statistics and makes them applicable to a wide business audience. He argues that numbers are the key to analyzing nearly everything in the world of business, from how to spot and profit from global market inefficiencies to having multiple backup plans in anticipation of every probability. Ma's stories and business lessons are as intriguing as they are universally applicable.

The Color Of Money

Author : Walter Tevis
ISBN : 1560254858
Genre : Fiction
File Size : 50. 24 MB
Format : PDF
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After 20 years of hibernation, former pool champion "Fast" Eddie Felson is playing exhibition matches with former rival Minnesota Fats in shopping malls for prizes like cable television. With one failed marriage and years of running a pool hall, Eddie is now ready to regain the skills needed to compete in a world of pool that has changed dramatically since he left it behind. The real challenge comes when Eddie realizes that in order to compete successfully, he must hone his skills in the game of nine-ball as opposed to the straight pool that had once won him fame. With a new generation of competitors, fear and doubt and the daily possibility of failure arise, giving Fast Eddie a new challenge to overcome. The Color of Money is the source of the 1986 film starring Paul Newman in the role he had originated in The Hustler.

How Asia Works

Author : Joe Studwell
ISBN : 9780802193476
Genre : Business & Economics
File Size : 21. 6 MB
Format : PDF
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In the 1980s and 1990s many in the West came to believe in the myth of an East-Asian economic miracle. Japan was going to dominate, then China. Countries were called “tigers” or “mini-dragons,” and were seen as not just development prodigies, but as a unified bloc, culturally and economically similar, and inexorably on the rise. Joe Studwell has spent two decades as a reporter in the region, and The Financial Times said he “should be named chief myth-buster for Asian business.” In How Asia Works, Studwell distills his extensive research into the economies of nine countries—Japan, South Korea, Taiwan, Indonesia, Malaysia, Thailand, the Philippines, Vietnam, and China—into an accessible, readable narrative that debunks Western misconceptions, shows what really happened in Asia and why, and for once makes clear why some countries have boomed while others have languished. Studwell’s in-depth analysis focuses on three main areas: land policy, manufacturing, and finance. Land reform has been essential to the success of Asian economies, giving a kick start to development by utilizing a large workforce and providing capital for growth. With manufacturing, industrial development alone is not sufficient, Studwell argues. Instead, countries need “export discipline,” a government that forces companies to compete on the global scale. And in finance, effective regulation is essential for fostering, and sustaining growth. To explore all of these subjects, Studwell journeys far and wide, drawing on fascinating examples from a Philippine sugar baron’s stifling of reform to the explosive growth at a Korean steel mill. Thoroughly researched and impressive in scope, How Asia Works is essential reading for anyone interested in the development of these dynamic countries, a region that will shape the future of the world.

Winning Decisions

Author : J. Edward Russo
ISBN : 9780385504942
Genre : Business & Economics
File Size : 20. 40 MB
Format : PDF, ePub, Mobi
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Business revolves around making decisions, often risky decisions, usually with incomplete information and too often in less time than we need. Executives at every level, in every industry, are confronted with information overload, less leeway for mistakes, and a business environment that changes rapidly. In light of this increased pressure and volatility, the old-fashioned ways of making decisions–depending on intuition, common sense, and specialized expertise–are simply no longer sufficient. Distilling over thirty years of groundbreaking research, Winning Decisions, written by two seasoned business advisers and world leaders in behavioral decision studies, is a comprehensive, one-of-a-kind guide to the proven methods of making critical business decisions confidently, quickly–and correctly. Decision-making is a business skill which managers often take for granted in themselves and others–but it's not as easy as some might think. The authors, whose expertise has been sought out by over a hundred companies, including Arthur Andersen, Hewlett-Packard, IBM, and Unilever, contend that decision-making, like any other skill, must be developed and honed if it is to be used effectively. Winning Decisions offers step-by-step analyses of how people typically make decisions, and provides invaluable advice on how to improve your chances of getting your next big decision right the first time. The book is packed with worksheets, tools, questionnaires, case studies, and anecdotes analyzing major decisions made by organizations like British Airways, NASA, Shell Oil, and Pepsi. Some of the proven, straightforward techniques covered in Winning Decisions include how to: Reframe issues to ensure that the real problem is being addressedImprove the quality and quantity of your options Convert expert yet conflicting opinions into useful insights Make diversity of views and conflict work to your advantage Foster efficient and effective group decision-making Learn from past decisions--your own and those of others With Winning Decisions, managers and other professionals now have access to a proven set of skills and strategies they need for making the right decision, right away.

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