Demystifying Economic Markets and Prices

Understanding Patterns and Practices in Everyday Life

Inbunden, Engelska, 2019

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From the price of a candy bar to the price of a house, Woirol's book demystifies prices and markets. Why do we use them, how do they work, and what can we do to make them work for us?Some of the prices we come across every day cause us few problems, while others seem mysterious, frustrating, and even unfair. In this refreshing and entertaining approach to the "dismal science," Greg Woirol shows how we, uniquely among living creatures, use markets and prices to help organize our lives. Ranging from the price of diamonds, to cell phone plans, high fashion, scalped tickets, Christmas gifts, and much more, chapters in Demystifying Economic Markets and Prices build on one another to explain hidden structural and behavioral patterns. Woirol brings clarity to the arcane world of economics, allowing readers to see patterns and meaning in a wide range of everyday prices and markets. Along the way, the author gives advice about how best to address the issues and opportunities that markets create for consumers.

Produktinformation

Utgivningsdatum2019-09-03
Mått156 x 235 x 14 mm
Vikt510 g
FormatInbunden
SpråkEngelska
Antal sidor170
FörlagBloomsbury Publishing Plc
ISBN9781440872525

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AcknowledgmentsIntroduction: Markets and Prices in Everyday LifeChapter 1 Candy Bars, Used Cars, and Superstars: Patterns and Practices in Markets and PricesChapter 2 401(k)s, Lotto, Cell Phone Plans, and Diamonds: Structural and Behavioral Factors and Market PricesChapter 3 Fashion, Fads, and Brands: Information Gaps as a Structural FactorChapter 4 Santa Claus, Ticket Scalping, and Gift Cards: Information Gaps in Everyday MarketsChapter 5 Bait-and-Switch, Counterfeit Goods, and Low-Price Guarantees: How Sellers Can Take Advantage of Information GapsChapter 6 Computer Repairs, Mortgage Loans, Hidden Fees, and Credit Cards: Products Bought from Experts and Groups of Buyers as Structural FactorsChapter 7 Music and the Erie Canal, College Tuition, and Good Monopoly Prices: Technological Change, Buyer Characteristics, and Barriers to Entry as Structural FactorsChapter 8 Shopping Malls, Whales, and Prescription Drugs: The Absence of Normally Expected Features in MarketsChapter 9 Halloween Candy, Soft Drinks, Senior Citizen Discounts, and College Grants: Buying More at a Lower Price as a Behavioral FactorChapter 10 High-Paid Jobs, Tenure, and Why Are There So Many Lawyers?: Structural and Behavioral Factors in Labor MarketsChapter 11 Beauty, Orchestra Auditions, and the Rat Race: Behavioral Biases and Information Gaps in Labor MarketsChapter 12 How People Shop, the Great Recession, and the End of the Soviet Union: Markets and Prices Can Be Challenging, but the End Result Is PositiveReferencesIndex