The Mind of the Market: How Biology and Psychology Shape Our Economic Lives

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Macmillan, Jan 6, 2009 - Business & Economics - 308 pages
26 Reviews

"[A] captivating raconteur of all the greatest hits of behavioral, evolutionary and neuropsychology . . . Fascinating."—Los Angeles Times Book Review

How did we make the leap from ancient hunter-gatherers to modern consumers, and why do people get so emotional about financial decisions? The national bestseller The Mind of the Market uncovers the evolutionary roots of our economic behavior.

Drawing on the new field of neuroeconomics, psychologist Michael Shermer investigates what brain scans reveal about bargaining, snap purchases, and establishing trust in business. He scrutinizes experiments in behavioral economics to understand why people hang on to losing stocks and why negotiations disintegrate into tit-for-tat disputes. He brings together findings from psychology and biology to describe how our tribal ancestry makes us suckers for brands, why researchers believe cooperation feels (biochemically) like sex, and how even capuchin monkeys get indignant if they don’t get a fair reward for their work.

Entertaining and eye-opening, The Mind of the Market explains the real science of economics.

  

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Review: The Mind of the Market: How Biology and Psychology Shape Our Economic Lives

User Review  - Jason Mahoney - Goodreads

This is an excellent book that explains how the evolution of our brains, and the life decisions we make based on that evolution, greatly affects the way we think about money (trade, the market ... Read full review

Review: The Mind of the Market: Compassionate Apes, Competitive Humans, and Other Tales from Evolutionary Economics

User Review  - Ninakix - Goodreads

This book is sometimes odd because it seems to sit in the middle of three different disciplines - economics, psychology, and evolution - but that actually turns out to be a good thing, because it ... Read full review

Contents

ECONOMICS FOR EVERYONE
xiii
THE GREAT LEAP FORWARD
1
OUR FOLK ECONOMICS
14
BOTTOMUP CAPITALISM
24
OF PANDAS PRODUCTS AND PEOPLE
44
MINDING OUR MONEY
65
THE EXTINCTION OF HOMO ECONOMICUS
94
THE VALUE OF VIRTUE
115
TRUST WITH CREDIT VERIFICATION
167
THE SCIENCE OF GOOD RULES
191
DONT BE EVIL
204
FREE TO CHOOSE
228
TO OPEN THE WORLD
247
NOTES
263
ACKNOWLEDGMENTS
295
INDEX
299

WHY MONEY CANT BUY YOU HAPPINESS
139

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About the author (2009)

Michael Shermer is the author of The Believing Brain, Why People Believe Weird Things, The Science of Good and Evil, The Mind Of The Market, Why Darwin Matters, Science Friction, How We Believe and other books on the evolution of human beliefs and behavior. He is the founding publisher of Skeptic magazine, the editor of Skeptic.com, a monthly columnist for Scientific American, and an adjunct professor at Claremont Graduate University. He lives in Southern California.

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