Human Behavior Economics

Robert Prechter proposes a new science called socionomics. It's the study of how humans interact and how that interaction determines the course of the economy, culture, and history.

For centuries, economics was dominated by the idea that we are rational individuals who optimize our own “utility”. Then, in the 1970s, psychologists demonstrated that the reality is a lot messier. We don’t really know what our utility is, and we care about people other than ourselves. We are susceptible to external nudges. And far from being perfectly rational, we are prone to “cognitive biases” with complex effects on decision-making, such as forgetting to prepare for retirement.

We like to think of ourselves as rational. This idea is the foundation for classical economic analysis of human behavior, including the awesome achievements of game theory. But as behavioral economics shows, most behavior doesn’t seem rational at all - which, unfortunately, casts doubt on game theory’s real-world credibility. In Hidden Games, Moshe Hoffman and Erez Yoeli find a surprising middle ground between the hyperrationality of classical economics and the hyper-irrationality of behavioral economics.

Human evolution is greatly influenced by the behavioural changes that have taken place over the ages and the process is still on the run. This audiobook gives basic insight into human behaviour and the reasoning behind it. Manipulation has now become an integral part of our life. It has become a necessary skill to influence and convince people to achieve commercial success. This audiobook guides you through this distinct art to help you achieve desired positive results. Although, it leads you into the world of manipulation, it also shows you a way out.

The controversial science that claims to have revolutionised economics. For centuries, economics was dominated by the idea that we are rational individuals who optimise our own ‘utility’. Then, in the 1970s, psychologists demonstrated that the reality is a lot messier. We don’t really know what our utility is, and we care about people other than ourselves. We are susceptible to external nudges. And far from being perfectly rational, we are prone to ‘cognitive biases’ with complex effects on decision-making, such as forgetting to prepare for retirement.

In Hidden Games, MIT economists Moshe Hoffman and Erez Yoeli find a surprising middle ground between the hyperrationality of classical economics and the hyper-irrationality of behavioural economics. They call it hidden games. Reviving game theory, Hoffman and Yoeli use it to explain our most puzzling behaviour, from the mechanics of Stockholm syndrome and internalised misogyny to why we help strangers and have a sense of fairness.

The entirety of human evolution is greatly influenced by the behavioral changes that have taken place over the ages and still now the process is on the move. However, when it comes to understanding the process in in a simple way, one can hardly find an easy option. There are books, theories, and piles of research materials, but they are for those who are already aware of the basic ideas. This book is a basic insight into human behavior and its rationales.

Dive right in to learn the techniques you need to manipulate, deceive, and control situations or people around you.

This book examines the phenomenon of human group dynamics - where when three or more people gather, it creates a mind of the crowd which is greater than the sum of its parts.