Why Smart People Make Big Money Mistakes And How To Correct Them: Lessons From The New Science Of Behavioral Economics

Front Cover
Simon & Schuster, Mar 9, 2001 - Business & Economics - 224 pages
42 Reviews
Why do so many otherwise smart people make foolish financial choices? Why do investors sell stocks just before they sky rocket -- and cling to others as they plummet? Why do shoppers overspend when using credit cards rather than cash? What do our habits of tipping or buying lottery tickets indicate about our relationship with money?In this fascinating investigation of the ways we spend, invest, save, borrow, and waste money, Gary, Belsky and Thomas Gilovich reveal the psychological causes -- the patterns of thinking and decision-making -- that result in irrational behavior. Most importantly they focus on the decisions we make everyday and, using entertaining examples, provide invaluable tips on avoiding the financial faux pas that can cost thousands of dollars each year.

What people are saying - Write a review

User ratings

5 stars
4 stars
3 stars
2 stars
1 star

Review: Why Smart People Make Big Money Mistakes and How to Correct Them: Lessons from the Life-Changing Science of Behavioral Economics

User Review  - J - Goodreads

Loved reading this book. It gave an insight to our relationship with money and why we act the way that we do with money. Some of the concepts weren't new to me as I have read about them in Dan Ariely ... Read full review

Review: Why Smart People Make Big Money Mistakes And How To Correct Them: Lessons From The New Science Of Behavioral Economics

User Review  - Goodreads

Very handy book, I enjoyed it both as a person interested in behavioral economics, and as someone who wants to manage his money wisely. Some of the stuff is more known to people who are already ... Read full review

All 18 reviews »

References to this book

All Book Search results »

About the author (2001)

Gary Belsky is editor in chief of ESPN The Magazine, where he has worked since 1998. The author of several books, he lectures frequently on the psychology of decision-making to business and consumer groups around the world. From 1994 through 1998, Belsky was a regular commentator on CNN’s Your Money and a frequent contributor to Good Morning America, CBS This Morning, Crossfire and Oprah; he continues to appear on local and national radio and TV, commenting on sports, economics, business and personal finance. A St. Louis native, Belsky graduated from the University of Missouri in that city in 1983 with a BA in speech communication and political science. Before joining ESPN he was a writer at Money magazine and a reporter for Crain’s New York Business and the St. Louis Business Journal. In 1990, Belsky won the Gerald Loeb Award for Distinguished Business and Financial Journalism, administered by The Anderson School at UCLA. Belsky, who lives in Manhattan, serves on the board of directors of Urban Pathways, one of New York City’s largest providers of services to the homeless and mentally ill; as well as the New York Neo-Futurists, an East Village theater company.

Thomas Gilovich is a professor of psychology at Cornell University and author of How We Know What Isn't So. He lives in Ithaca, New York.

Bibliographic information