In 'The Inner Lives of Markets', Ray Fisman and Tim Sullivan delve into the hidden motivations that drive market behavior, blending economic theories with real-world examples. The authors reveal how individual choices, social norms, and even emotions play pivotal roles in shaping market dynamics. Through gripping anecdotes and insightful analysis, they unravel the intricacies of how markets operate beneath the surface. Readers will discover the surprising intersections between human psychology and economic forces, prompting them to reconsider their understanding of market transactions. This thought-provoking exploration invites anyone interested in economics to ponder: What truly influences the choices we make in the marketplace?
By Ray Fisman, Tim Sullivan
Published: 2016
"Markets are not just numbers on a screen; they are reflections of human emotions, values, and intricate social networks."
America's economic revolution isn't just driven by technology. It's about markets. The past twenty-five years have witnessed a remarkable shift in how we get the stuff we want. If you've ever owned a business, rented an apartment, or shopped online, you've had a front-row seat for this revolution-in-progress. Breakthrough companies like Amazon and Uber have disrupted the old ways and made the economy work better—all thanks to technology. At least that's how the story of the modern economy is usually told. But in this lucid, wry book, Ray Fisman and Tim Sullivan show that the revolution is bigger than tech: it is really a story about the transformation of markets. From the auction theories that power Google's ad sales algorithms to the models that online retailers use to prevent internet fraud, even the most high-tech modern businesses are empowered by theory first envisioned by economists. And we're all participants in this revolution. Every time you book a room on Airbnb, hire a car on Lyft, or click on an ad, you too are reshaping our social institutions and our lives. The Inner Lives of Markets is necessary reading for the modern world: it reveals the blueprint for how we work, live, and shop, and offers wisdom for how to do it better.
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“Markets are not just numbers on a screen; they are reflections of human emotions, values, and intricate social networks.”
The Inner Lives of Markets
By Ray Fisman, Tim Sullivan
Discover a world of knowledge through our extensive collection of book summaries.
Ray Fisman is a prominent economist and author known for his engaging writing style that combines rigorous analysis with accessible insights. He is a professor at Boston University and has contributed significantly to the fields of economics and management. Fisman co-authored the bestselling book "The Org: The Underlying Logic of the Office" which explores the inner workings of organizations through the lens of economic theory. His other notable works include "Economics in One Lesson" and numerous articles in reputed publications, where he applies economic principles to real-world issues. Fisman's ability to distill complex ideas into clear, relatable narratives makes his work both informative and compelling.
Tim Sullivan is an acclaimed author known for his gripping narratives and compelling character development. His notable works include the bestselling thriller 'The Last Stand', the critically acclaimed novel 'Echoes of the Past', and the evocative collection of short stories 'Moments of Clarity'. Sullivan's writing style is characterized by his keen attention to detail and an ability to weave intricate plots that keep readers on the edge of their seats. With a background in journalism, he brings a unique perspective and authenticity to his storytelling, earning him a dedicated readership and numerous literary awards.
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