Information AboutFreakonomics |
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''Freakonomics: A Rogue Economist Explores the Hidden Side of Everything'' is a book by Economist Steven Levitt and Journalist Stephen J. Dubner published in 2005 . ''Freakonomics'' peaked at number 2 among Nonfiction on the New York Times Bestseller List , and was named the 2006 Book Sense Book of the Year in the Adult Nonfiction category. OVERVIEW The book is a collection of economic articles written by Levitt, translated into prose meant for a wide audience. Levitt had already gained a reputation in academia for applying economic theory to diverse topics usually not covered by "traditional" economists. (Note that Levitt is actually not at all a "rogue" economist in that he entirely accepts the standard microeconomic paradigm of rational utility-maximization; he's just applying it to different subjects.) The book's topics include:
One striking example of the authors' creative use of economic theory involves demonstrating the existence of cheating among Sumo wrestlers. In a Sumo tournament, all wrestlers compete in fifteen matches. Those who win a majority of the matches receive preferential treatment; those who don't must perform humiliating duties, such as washing hard-to-reach places on the bodies of their betters. The authors looked at the final match, and considered the case of a 7-7 wrestler fighting against an 8-6 wrestler. Statistically, the 7-7 wrestler should have a slightly below even chance, since the 8-6 wrestler is slightly better. However, the 7-7 wrestler actually wins around 80% of the time. Levitt concludes that those who already have 8-6 collude with those who are 7-7 and let them win, since they have already secured preferential treatment. REAPPRAISALS In Chapter 2 of Freakanomics, the authors wrote of their visit to folklorist Stetson Kennedy 's Florida home where the topic of Kennedy's investigations of the Ku Klux Klan were discussed. However in their January 8, 2006 column in the New York Times Magazine Dunbar and Levitt wrote of questions about Stetson Kennedy's research ("Hoodwinked" pp 26-28) leading to the conclusion that Kennedy's research were sometime embellished for effectiveness. The implication of the reappraisal of their source was that Kennedy's claims and conclusions should be reviewed for accuracy and verified, rather than being accepted at full face value. EXTERNAL LINKS
REFERENCES SIMILAR GENRE BOOKS
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