An Economist Walks Into A Brothel

An Economist Walks Into A Brothel

And Other Unexpected Places to Understand Risk

Book - 2019
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"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 downsides"-- Provided by publisher.
"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 downsides"-- Provided by publisher.
Publisher: New York : Portfolio, 2019
ISBN: 9780525533962
0525533966
9780525542827
0525542825
Branch Call Number: 338.5 Sch695e 2019
Characteristics: pages cm

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StarGladiator
Apr 17, 2019

In a rigged economy with rigged markets this author expects people to believe that such effort goes into understanding risk. Hmmm . . . internalization: the process whereby the top banks and hedge funds buy over 90 to 95 percent of the public trades by the top public stock brokerages [Schwab, E*Trade, et cetera] and then perform those trades on their internal networks, or "dark pools" - - sure sounds like everything is controlled?!
InterContinental Exchange [ICE] was pivotal in the speculating upwards of the prices of oil, energy and various commodities, and in the financial crisis of 2008, and they are the major owners of the NYSE and MERSCorp, and it was MERS that was crucial in that economic meltdown of 2008?
Remember those rigged LIBOR rates? Now those rates are established by ICE LIBOR.
From the Rothschild Bank in the UK to ICE - - major shift, huh? ? ?
[Oh yeah . . . and who founded ICE? Why Goldman Sachs, Morgan Stanley, BP, Total-Fina and Deutsche Bank.]
And who are the majority shareholders in ICE? Vanguard Group / T Rowe Price / BlackRock / State Street / Wellington Management >> which means the majority shareholders are Vanguard & BlackRock & State Street. Why? Because the majority shareholders in T Rowe Price are Vanguard / State Street / BlackRock and the majority shareholders in Wellington Management are Vanguard / BlackRock / State Street.
[Beginning to see how it's rigged . . . . ]

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