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The Economic Naturalist - In Search Of Explanations For Everyday Enigmas

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Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.
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The Economic Naturalist - In Search Of Explanations For Everyday Enigmas

Regular price $8.48 $5.09 40% off
Unit price
per
ISBN: 9780465002177
Authors: Robert H. Frank
Publisher: Basic Books
Date of Publication: 2007-05-21
Format: Hardcover
Related Collections: Business, Economics, Science, History, Sociology
Goodreads rating: 3.46
(rated by 3100 readers)

Description

Why do the keypads on drive-up cash machines have Braille dots? Why are round-trip fares from Orlando to Kansas City higher than those from Kansas City to Orlando? For decades, Robert Frank has been asking his economics students to pose and answer questions like these as a way of learning how economic principles operate in the real world--which they do everywhere, all the time.Once you learn to think like an economist, all kinds of puzzling observations start to make sense. Drive-up ATM keypads have Braille dots because it's cheaper to make the same machine for both drive-up and walk-up locations. Travelers from Kansas City to Orlando pay less because they are usually price-sensitive tourists with many choices of destination, whereas travelers originating from Orlando typically choose Kansas City for specific family or business reasons. The Economic Naturalist employs basic economic principles to answer scores of intriguing questions from everyday life, and, along the way, introduces key ideas such as the cost benefit principle, the "no cash left on the table" principle, and the law of one price. There is no more delightful and painless way of learning these fundamental principles.
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Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.