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Dear Undercover Economist: Priceless Advice on Money, Work, Sex, Kids, and Life's Other Challenges Paperback – August 25, 2009
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Top Customer Reviews
This book is compiled from letters and responses to his articles in the Financial Times, so intersting topics are touched on ("so-and-so showed that people are more likely to ..."), but the format is too cramped to elaborate.
If it is advice you are looking for, do yourself a favor: instead of getting this book, make sure to pick up his other two books instead.
This is a thinking persons book. Lots of humor interlaced with economic concepts at a pretty deep level
You wont be disappointed
If you want to read a lot of questions about life from several categories, only to hears answers that briefly state some professor somewhere studied this behavioral phenomenon. This is not worth your time to read if you are looking for insightful information on the topic of behavioral economics.
In chapter one, Speed Dating With A Money Back Guarantee, one of the letters is from a man who can't decide whether to propose to his girlfriend on the upcoming Valentines Day, or wait until next year. The Undercover Economist discusses and applies the principle of value-creation to the situation. He advises that value-creating moves should be applied sooner rather than later, because of the limitation of time. However, some decisions are worth delaying in order to acquire more information, or improve upon a situation or thing. In analyzing a decision, the cost of delay needs to be weighed against the value of waiting. Additionally, the decision maker should also strongly bear in mind that the window of opportunity can slam shut, bringing the option value to zero. These principles of value-creating decisions can be applied to new product development and introduction. Companies should not be in a rush-to-market with new product developments if the value of waiting is greater than the cost of delay.Read more ›
He basically takes serious questions (broadly: how should I raise my children, how can I have a successful relationship, how can I get rich, etc.) and answers them with an economics-based joke. As a former econ major, I thought it was hilarious. A little on the light side, sure, but a good coffee-table book. If you don't enjoy economics (or academic wittiness), don't pick this one up. If you're looking for real advice, don't pick this one up.
Do pick it up if you'd like an introduction to some basic (and some esoteric) economic concepts or if you're looking to make interesting cocktail party conversation.
Most Recent Customer Reviews
I've read a number of the Undercover Economist books and while I find them enjoyable after a while it begins to get a bit old.
Not that the subject matter isn't great, it is. Read more
This armchair economics book is fun and full of good tips. The approach can help to take informed and intelligent decisions in a wide array of situations. Very nice.Published on December 25, 2011 by Vinc
Despite the rather gaudy US cover depicted here, this book is a real gem. Read more
funny and quick read. he does not go into a lot of details of why he chooses a certain theory/explanation to express his points, after a while you can anticipate what is he going... Read morePublished on February 11, 2010 by Maria Perez