The Why Axis: Hidden Motives and the Undiscovered Economics of Everyday Life by John A. List and Uri Gneezy, explores the new wave of economic thinking (by new I mean post-1990s).
Before that, economics has been dominated by theory and a limited set experiments on university campuses. List and Gneezy engage in pioneering research using field experiments, widening the range of the field, and in the process, exposing some of the factors that motivate the choices people make.
For most, the thrilling part of The Why Axis is that it disabuses us of the notion that economics is strictly about money. Indeed, economics is about the incentives the impel people to engage in some action or activity, or dissuade them from doing so; of course, money is a great incentive, but as this book shows, sometimes and in certain circumstances, it is not the best.
This book is fluidly written, clear, and the authors employ a refreshing sleeves rolled up, real life attitude to help solve some of our most thorny social problems.
Before that, economics has been dominated by theory and a limited set experiments on university campuses. List and Gneezy engage in pioneering research using field experiments, widening the range of the field, and in the process, exposing some of the factors that motivate the choices people make.
For most, the thrilling part of The Why Axis is that it disabuses us of the notion that economics is strictly about money. Indeed, economics is about the incentives the impel people to engage in some action or activity, or dissuade them from doing so; of course, money is a great incentive, but as this book shows, sometimes and in certain circumstances, it is not the best.
This book is fluidly written, clear, and the authors employ a refreshing sleeves rolled up, real life attitude to help solve some of our most thorny social problems.
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