Economics

I've always had a inclination towards economics as a social science. It combines the quantitative analysis while being able to maintain the humanitarian aspect of how society behaves and interacts with one another

Predictably irrational

star rating: ⭐⭐⭐⭐
Reading length: medium(308 pages)
Amazon pricing: $12
Author: Dan Ariely
One sentence: The First economic related book I've read which kickstarted my reading for others

say a Lindt chocolate and Hershey chocolate are offered for 25 cents and 2 cents, and you are only allowed to pick one chocolate with this offer, most people will make an unbiased random decision

but say the Lindt and Hershey chocolate is now 20 cents and 0 cents(free) respectively, all of a sudden there can be as much as 80% of people choosing the free hershey chocolate even tho the lindt chocolate is still a better deal

this is because there is no more opportunity cost perceived by consumers. since there is no loss, this attracts people

thinking fast and slow

star rating: ⭐⭐⭐
Reading length: large (499 pages)
Amazon pricing: $10
Author: Daniel Kahneman
One sentence: Very decent book about economics

mind is made up of 2 systems: (1) the fast unconscious one that makes decisions for us that have little resistance, (2) the other is slow and more conscious and calculated when we are willing to invest time and effort

predictable illusions inevitably occur if the judgement is based on an impression of cognitive ease. a reliable way to make people believe in falsehoods is frequent repetition, because familiarity is not easily distinguished from truth

good economics for hard times(work in progress)

star rating:
Reading length: medium(406 pages)
Amazon pricing: $15
Author: Abhijhit D. Banerjee and Esther Duflo
One sentence: _____

“

will be inside eventually

"