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Rational Economics of an Irrational World

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1. long Summary/Review of the book The Logic of Life: The Rational Economics of an Irrational World by Tim Harford

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Long Summary/Review of the book The Logic of Life: The Rational Economics of an Irrational World by Tim Harfor
The author of Irrational World, Tim Hartford gives the logic behind seemingly irrational decisions. Hartford argues that rational behavior is widespread and affects several parts of decision making. Tim Hartford feels that rational behavior is more widespread than what observers would expect. Often the roots of behavior are in economic principles. Tim Hartford discusses examples of what appears to be irrational behavior namely teenage oral sex craze, crime, and gambling and illustrates that there are strong economic reasons for these ostensibly irrational behavior. Tim Hartford applies the principles of game theory to ...

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