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Freakonomics

Freakonomics

By Steven Levitt & Stephen J. Dubner

A Rogue Economist Explores the Hidden Side of Everything. HarperCollins, 2005.

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12 mins read

11 Key insights

A brief summary of Freakonomics

An enlightening, scientific study that uses an economist’s data to uncover the incentives that drive human behaviors, asking unlikely questions to reveal even more unlikely answers.

Key insights in Freakonomics

1
What do you get from this book? An economist’s critical analysis of conventional wisdom to explain how the world works
2
Incentives drive behavior and explain why people act in irrational ways
3
Strong incentives are designed to encourage good behavior but can also cause honest people to cheat
4
Experts rely on information asymmetry to claim authority and power
5
People make decisions based on their fear of risks, especially if those risks are obvious and scary
6
People confuse correlation with causation to explain behaviors, assigning reasons before they understand the root of the issue
7
A child is more influenced by who a parent is than by what that parent offers their child
8
A child’s name does not cause a good or bad life – it is a correlation of the person’s upbringing
9
Summary of the key insights
10
Selected critiques in brief
11
Final word

Who should read Freakonomics

Students • economists • sociologists • teachers • parents • people interested in social dynamics

About the author of Freakonomics

Steven Levitt is a professor of economics who teaches at the University of Chicago. Stephen Dubner is an author and journalist who writes for the New York Times, The New Yorker, and Time magazine. The two authors have also written SuperFreakonomics, When to Rob a Bank, and Think Like A Freak.

author avatar

Steven Levitt

author avatar

Stephen J. Dubner

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