Readers with even the remotest interest in how the world really works will enjoy this work of the dismal science pleasingly,...
The dean of behavioral economics—the study of how people behave in practice rather than in theory when it comes to dollars and cents—gives a spry account of his field.
“The real point of behavioral economics is to highlight behaviors that are in conflict with the standard rational model,” writes Thaler (Behavioral Science and Economics/Univ. of Chicago Graduate School of Business; co-author: Nudge: Improving Decisions About Health, Wealth, and Happiness, 2008, etc.), who carved out his own field at the University of Chicago in the 1970s and, with a few other renegades, brought it to academic respectability in the ’80s. Now the branch is pretty well orthodox, and its heavy hitters command all kinds of respect, even if the young wild-eyed acolytes of the Freakonomics set steal the thunder these days. Without the oldsters there would be no such acolytes, just as without Thaler’s explorations of how people tick, irrationally and against expectation, there wouldn’t be any Levitts and Dubners. Thaler’s accounts of what he spends his days thinking about are illuminating: if controlling your impulses involves a metaphorical angel on one shoulder and a devil on the other, why did this not have an appropriately twofold theory behind it? “Self-control,” writes the author with customary clarity, “is, centrally, about conflict. And, like tango, it takes (at least) two to have a conflict. Maybe I needed a model with two selves.” People are risk-averse by nature; does that have any sort of evolutionary component? And why, conversely, are people so bad at making the right choices? In part, it’s because we’re not very bright, but it’s also because there’s a rub in that “right choices” business—assuming that we’re capable of rationality when, as Thaler writes, “the premises on which economic theory rests are flawed.”
Readers with even the remotest interest in how the world really works will enjoy this work of the dismal science pleasingly, and even exuberantly, done.Pub Date: May 18, 2015
ISBN: 978-0-393-08094-0
Page Count: 416
Publisher: Norton
Review Posted Online: March 15, 2015
Kirkus Reviews Issue: April 1, 2015
BOOK REVIEW
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...
A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.
The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.Pub Date: Nov. 1, 2011
ISBN: 978-0-374-27563-1
Page Count: 512
Publisher: Farrar, Straus and Giroux
Review Posted Online: Sept. 3, 2011
Kirkus Reviews Issue: Sept. 15, 2011
BOOK REVIEW
IN THE NEWS
These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.
A helpful guide to working effectively with people from other cultures.
“The sad truth is that the vast majority of managers who conduct business internationally have little understanding about how culture is impacting their work,” writes Meyer, a professor at INSEAD, an international business school. Yet they face a wider array of work styles than ever before in dealing with clients, suppliers and colleagues from around the world. When is it best to speak or stay quiet? What is the role of the leader in the room? When working with foreign business people, failing to take cultural differences into account can lead to frustration, misunderstanding or worse. Based on research and her experiences teaching cross-cultural behaviors to executive students, the author examines a handful of key areas. Among others, they include communicating (Anglo-Saxons are explicit; Asians communicate implicitly, requiring listeners to read between the lines), developing a sense of trust (Brazilians do it over long lunches), and decision-making (Germans rely on consensus, Americans on one decider). In each area, the author provides a “culture map scale” that positions behaviors in more than 20 countries along a continuum, allowing readers to anticipate the preferences of individuals from a particular country: Do they like direct or indirect negative feedback? Are they rigid or flexible regarding deadlines? Do they favor verbal or written commitments? And so on. Meyer discusses managers who have faced perplexing situations, such as knowledgeable team members who fail to speak up in meetings or Indians who offer a puzzling half-shake, half-nod of the head. Cultural differences—not personality quirks—are the motivating factors behind many behavioral styles. Depending on our cultures, we understand the world in a particular way, find certain arguments persuasive or lacking merit, and consider some ways of making decisions or measuring time natural and others quite strange.
These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.Pub Date: May 27, 2014
ISBN: 978-1-61039-250-1
Page Count: 288
Publisher: PublicAffairs
Review Posted Online: April 15, 2014
Kirkus Reviews Issue: May 1, 2014
© Copyright 2024 Kirkus Media LLC. All Rights Reserved.
Follow
Popular in this Genre
We can’t wait for you to join Kirkus!
It’s free and takes less than 10 seconds!
Already have an account? Log in.
OR
Sign in with GoogleTrouble signing in? Retrieve credentials.
Welcome Back!
OR
Sign in with GoogleTrouble signing in? Retrieve credentials.
bookshelf