Sound Economics has begun its first ever book club where we have chosen to read The Why Axis; Hidden Motives and the Undiscovered Economics of Everyday Life, by Uri Gneezy and John A. List, who are two of Forbes magazine’s “worlds most powerful economists”. The aim of their book is to provide the breakthrough ideas to challenge the assumptions of human decision-making.
Gneezy added that the book provides “new understanding of the hidden motives that drive people to behave the way they do and of how we can achieve better outcomes for ourselves, our companies, our customers, and society in general.”
In the world of economics Uri Gneezy and John A have proven that there is an important place for controlled field experiments. The two spend their days in the laboratory discovering new ways to manipulate the natural environment in a controlled way in order to measure how humans respond to these changes.
Gneezy and List have been working in such experimental ways for over 20 years, and their work has lead to breakthroughs in important topics such as how to decrease crime rates, improve school success, encourage more charitable giving, promote healthy living and decrease obesity, set prices on products (so as to maximize profits), and understand (and limit) discrimination.
Economics majors aside, this book is one everyone can read, understand, and benefit from. So grab a copy and read along with us! Stay tuned for more Why Axis posts from our bloggers.