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By ~ Allison Schrager
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Title : An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk
Author : Allison Schrager
category : Kindle Store,Kindle eBooks,Business & Money
Publisher : Allison Schrager
ISBN-10 : B07FLK37HC
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Size : 4441 KB
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An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk by Allison Schrager
Read Online and Download An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk by Allison Schrager. A Financial Times Book of the Month pick for April!Is it worth swimming in shark-infested waters to surf a 50-foot, career-record wave?Is it riskier to make an action movie or a horror movie?Should sex workers forfeit 50 percent of their income for added security or take a chance and keep the extra money?Most people wouldn't expect an economist to have an answer to these questions--or to other questions of daily life, such as who to date or how early to leave for the airport. But those people haven't met Allison Schrager, an economist and award-winning journalist who has spent her career examining how people manage risk in their lives and careers. Whether we realize it or not, we all take risks large and small every day. Even the most cautious among us cannot opt out--the question is always which risks to take, not whether to take them at all. What most of us don't know is how to measure those risks and maximize the chances of getting what we want out of life.In An Economist Walks into a Brothel, Schrager equips readers with five principles for dealing with risk, principles used by some of the world's most interesting risk takers. For instance, she interviews a professional poker player about how to stay rational when the stakes are high, a paparazzo in Manhattan about how to spot different kinds of risk, horse breeders in Kentucky about how to diversify risk and minimize losses, and a war general who led troops in Iraq about how to prepare for what we don't see coming.When you start to look at risky decisions through Schrager's new framework, you can increase the upside to any situation and better mitigate the downside.
An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk by Allison Schrager Review
(CAVEAT: I only made it halfway through before giving up. Perhaps the second half is better, but I doubt it).I almost never write negative book reviews. I briefly heard Dr Schrager speaking on the radio about some aspect of politics as actually an exercise in risk management. It was an unusual approach expressed cogently and interestingly so I thought, "I bet her book is great".(I'm not an economist and I haven't read any of the popularizations of behavioral economics etc but I've absorbed enough of it from the ether that I'm probably a good audience for this book: interested but not very knowledgeable)Nope. Once you get past the title example (why legal sex work commands a premium over criminalized sex work), the book's ideas are repetitive, obvious, and not that well–developed. She doesn't go deep enough into any aspect of them, the examples she uses, or the complexity of human thinking, behavior or institutions to make you want to read the next paragraph. It's made worse by a light, condescending, gee-whiz tone that bad teachers use for high school students.Steven Johnson and Michael Lewis have proved over and over that it's possible to popularize complex topics in ways that make for compelling reading. This is not on that. In retrospect, I should have been alerted by the fact that all the cover blurbs are from friends, none from reviewers.
If the title doesn't induce you to buy this book, then the first few pages will do it. Alison Schrager has done a masterful job explaining in plain English -- using rather (ahem) unconventional examples and illustrations -- of how to take account of and manage risk in your life, drawing on fundamental lessons of finance and economics. I predict this book will be huge best seller, and help make believers out of some doubters about the usefulness of economic reasoning. An economics and a best seller? -- no not a contradiction in terms. This book demonstrates that, get it, read it and you'll see what I mean
What a great and fun read! An economist and a journalist, Schrager writes lucidly and compellingly about how to hedge our bets and plan for the future. The book is incredibly readable, and the author explains economic principles without dumbing down the material or giving it a partisan spin. By using examples of big time risk takers, from prostitutes and horse breeders to magicians and big wave surfers, she gives the reader unexpected models that highlight important economic concepts. A fascinating read with smart analysis, this is a book we should all own!
If you haven't given much thought to risk or read any of the pertinent literature or studies, then perhaps this book will help focus you and provide some new insights into human decision making that had been hidden. But I struggled to find anything new here. Moreover, the deference to finance seems misplaced. "Financial economics is the science of risk," writes Schrager. A science? What about the last financial crisis? And the 2000 stock market bubble? And the numerous hedge funds that have closed shop in the past 10 years? And the persistent underperformance of most fund managers? Obviously, other forces are at work here, which makes the study of risk complex and nuanced.That said, risk management is a subject that deserves everyone's attention, to be sure. I suspect most of us aren't great at spotting, weighing and managing opportunities and risks, and perhaps this book will help -- so long as you haven't already delved deeply into the subject. If you're just starting out or early in your thought process, this book isn't a bad place to start.
This book is intended for people new to concepts of risk management, using some colorful real-life examples, such as big wave surfing, racehorse breeding, and the titular brothels. Alas, some of the connections between real-life risk-takers and the specified concepts are very thin. In addition, there was a dimension to risk that I found not explored quite as well, which is the human element.For example, in the section about paparazzi, the person profiled set up a "cartel" of sorts, which members would sometime break - a risk hedging tool often can break due how humans actually behave. Similarly, the book ends talking about the need for regulators to keep up with evolving risks (no argument there), but without the recognition there's a reason the savviest risk-taking aren't regulators.I think this would be a good book for the general public as well as schools, going down to high school level. You hook them with what seems like it would be a titillating story (legal brothels), but it's really about how to structure a business so that it's a win-win for all involved (owner, employees, and customers). There's a good index and lots of notes at the end that could be used for deeper discussion and exploration in class.
An Economist Walks into a Brothel: And Other Unexpected Your browser indicates if you've visited this linkhttps com/Economist-Walks-into-Brothel-Unexpected/dp/0525533966An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk [Schrager, Allison] on com *FREE* shipping on qualifying offers An Economist Walks into a Brothel: And Other Unexpected Places to Understand RiskAn Economist Walks into a Brothel: And Other Unexpected Your browser indicates if you've visited this linkhttps com/Economist-Walks-into-Brothel-Unexpected-ebook/dp/B07FLK37HCAn Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk - Kindle edition by Schrager, Allison Download it once and read it on your Kindle device, PC, phones or tablets Use features like bookmarks, note taking and highlighting while reading An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk An Economist Walks into a Brothel: And Other Unexpected Your browser indicates if you've visited this linkhttps barnesandnoble com/w/an-economist-walks-into-a-brothel-allison-schrager/1129666432An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk 240 by | Editorial In An Economist Walks into a Brothel, Schrager equips readers with five principles for dealing with risk, principles used by some of the world's most interesting risk takers For instance, she interviews a professional PDF An Economist Walks into a BrothelYour browser indicates if you've visited this linkhttps gbv de/dms/zbw/1664682120 pdfinto a brothel and other unexpected places to understand risk allison schrÄger portfolio/penguin contents chapter 1 introducing risk: the what and unusual where of it / what is risk? brothel-nomics finance: the science of risk the rules of risk the world gets riskier and you can own it why we peel so much economic anxiety vi contents An Economist Walks into a Brothel: And Other Unexpected Your browser indicates if you've visited this linkhttps econ columbia edu/event/an-economist-walks-into-a-brothel-and-other-unexpected-places-to-understand-risk/ is an economist, award-winning journalist, and author of An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk Allison, who holds a PhD in economics from Columbia University, returns to her alma mater to discuss her latest book and what it can teach us about managing risk, understanding uncertainty An Economist Walks Into A Brothel and Ot PDF | Your browser indicates if you've visited this linkhttps scribd com/document/464687456/An-Economist-Walks-into-a-Brothel-And-Ot-pdfAn Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk and Make Better Decisions Book Description An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk and Make Better Decisions read ebook Online PDF EPUB KINDLE,An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk and Make Better Decisions pdf,An Economist An Economist Walks Into a Brothel by Your browser indicates if you've visited this linkhttps goodbooksummary com/an-economist-walks-into-a-brothel-by-allison-schrager-book-summary-review/An Economist Walks Into a Brothel: And Other Unexpected Places to Understand Risk by Book Review The six basic instruments to risk management are well-preparation, recent data, variegation, hedging, insurance, and elasticity PDF An Economist Walks Into A Brothel And Other Unexpected Your browser indicates if you've visited this link178 128 17 7/lG7p8MI6j_an-economist-walks-into-a-brothel-and-other-unexpe_W pdfAn Economist Walks Into A Brothel And Other Unexpected Places To Understand Risk And Make Better Decisions Better Decisions By economist walks into a brothel amp other unexpected places what happens when an economist walks into a brothel motley fool money an economistAn Economist Walks into a Brothel: And Other Unexpected Your browser indicates if you've visited this linkhttps ebook4expert org/2019/04/08/an-economist-walks-into-a-brothel-and-other-unexpected-places-to-understand-risk-ebook-free-by-allison-schrager-epub-mobi/Most people wouldn't expect an economist to have an answer to these questions--or to other questions of daily life, such as who to date or how early to leave An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk [ebook free] by (epub/mobi) - Ebook4ExpertAn Economist Walks Into a Brothel (with Your browser indicates if you've visited this linkhttps stackingbenjamins com/allison-schrager/An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk <41:44> Doug's Trivia According to a Harris Poll and CareerBuilder survey, what is the number one reported time waster in the office? <46:48> Haven Life Line Jason calls in with a question for OG What are OG's thoughts on risk parity investing?More results
An Economist Walks into a Brothel: And Other Unexpected Places to Understand Risk by Allison Schrager
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