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Predictably Rational?
Mainstream economists everywhere exhibit an "irrational passion for dispassionate rationality." Behavioral economists, and long-time critic of mainstream economics suggests that people in mainstrean economic models "can think like Albert Einstein, store as much memory as IBM’s Big Blue, and exercise the will power of Mahatma Gandhi," suggesting that such a view of real world modern homo sapiens is simply wrongheaded. Indeed, Thaler and other behavioral economists and psychology have documented a variety of ways in which real-world people fall far short of mainstream economists' idealized economic actor, perfectly rational homo economicus. Behavioral economist Daniel Ariely has concluded that real-world people not only exhibit an array of decision-making frailties and biases, they are "predictably irrational," a position now shared by so many behavioral economists, psychologists, sociologists, and evolutionary biologists that a defense of the core rationality premise of modedrn economics is demanded.
Why Popcorn Costs So Much at the Movies
This entertaining book seeks to unravel an array of pricing puzzles from the one captured in the book’s title to why so many prices end with "9" (as in $2.99 or $179). Along the way, the author explains how the 9/11 terrorists have, through the effects of their heinous acts on the relative prices of various modes of travel, killed more Americans since 9/11 than they killed that fateful day. He also explains how well-meaning efforts to spur the use of alternative, supposedly environmentally friendly fuels have starved millions of people around the world and given rise to the deforestation of rainforests in Malaysia and Indonesia.
Bound to Be Free
Why is that in the land of the free, special interests control what you eat, wear, and drive, while the government tells you how your children will be educated and how much you'll pay for life's essentials? In Bound To Be Free—a book as clear and direct as it is powerful and persuasive—noted economist Richard B. McKenzie identifies the forces destroying you bit by bit and shows what can be done now to stop the erosion of individual and marketplace freedom before it is too late! In a daring departure, McKenzie argues that the key to each person's freedom is a business community free of government favor as well as interference. Only a reassertion of the principles of constitutional democra...
Microeconomics for Managers
A sophisticated yet non-technical introduction to microeconomics for MBA students and undergraduates (fully updated for its 4th edition).
In Defense of Monopoly
A provocative defense of market dominance
The Selfish Brain
In The Selfish Brain, which has been written with non-economists in mind, expands on Richard McKenzie's development of "brain-centric economics," which provides a new way of assessing and reconciling (albeit partially) the growing conflict between conventional or neoclassical economics (represented by the work of Nobel Laureates Milton Friedman and Gary Becker) and behavioral economics (represented by the work of Nobel Laureates Daniel Kahneman and Richard Thaler). In the book, McKenzie uses conventional economic analytics to explain how and why many behaviorists' findings of widespread decision "irrationalities" and "biases" have a rational foundation. He is also able to develop many econom...
A Brain-Focused Foundation for Economic Science
This book argues that Lionel Robbins’s construction of the economics field’s organizing cornerstone, scarcity—and all that has been derived from it from economists in Robbins’s time to today—no longer can generate general consent among economists. Since Robbins’ Essay, economists have learned more than Robbins and his cohorts could have imagined about human decision making and about the human brain that is the lynchpin of human decision making. This book argues however that behavioral economists and neuroeconomists, in pointing to numerous ways people fall short of perfectly rational decisions (anomalies, biases, and downright errors), have saved conventional economics from such self-contradictions in what could be viewed as a wayward approach. This book posits that the human brain is the ultimate scarce resource, and that a focus on the brain can bring a new foundation for economics and can save the discipline from hostile criticisms from a variety of non-economists (many psychologists).
HEAVY!
America’s emerging “fat war” threatens to pit a shrinking population of trim Americans against an expanding population of heavy Americans in raging policy debates over “fat taxes” and “fat bans.” These “fat policies” would be designed to constrain what people eat and drink – and theoretically crimp the growth in Americans’ waistlines and in the country’s healthcare costs. Richard McKenzie’s HEAVY! The Surprising Reasons America Is the Land of the Free—And the Home of the Fat offers new insight into the economic causes and consequences of America's dramatic weight gain over the past half century. It also uncovers the follies of seeking to remedy the country’s wei...
Microeconomics for MBAs
A sophisticated yet non-technical introduction to microeconomics for MBA students, now in its third edition.
FUGITIVE INDUSTRY
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