Understanding Freakonomics Better – The Results Alter When Stakes Are High-utc行家

Writing Steven D. Levitt asks an unusual question when he writes the book Freakonomics. He asks – do the teachers have anything in common with the Sumo wrestlers? He has studied the subject economics and he also studies real life situations in a new light (based the analysis of incentives only). He also analyzes those incentives that cause us to act in an irrational or even unethical manner. Lets Start With an Example The author gives an example of Chicago public school teachers where cheating patterns were detected among the teachers. The clear offenders where the cheating cases could be proved, the teachers in those cases were removed. Other systemic reforms were also undertaken to make sure the testing practices were standardized over a period of time. Cheating Behavior Can Be Predicted In another research project, the win-lose record of Sumo wrestlers of Japan was carefully studied, and even without definite proof of match fixing, the author was able to conclude that cheating did take place in many matches on widespread scale with certain stakes. Another interesting story is about an entrepreneur who was in the business of bagels and he managed to discern consistent cheating patterns in his customers depending on their financial records. In a way, his conclusion was that cheating could be predicted. Lack of Ethics Due To More Information Steven D. Levitt focused on definite patterns which indicated how access to information made people act in unethical ways at the detriment of others. The flow of information is the basic reason why certain world events have taken place or certain industries succeeded. The power of the Ku Klux Klan was also explained on the basis of hoarding information only, the moment their secrets passwords and rituals were broadcast on the radio (leaked by a person who infiltrated their organization), children started playing games based on that information and the group soon lost its hold over the people (simply because the mystery about them had evaporated). How Do Real Estate Agents Behave? The author Steven D. Levitt also delves into the real estate industry focusing on how the real estate agents behave in the market. Whenever the data of when the agents were selling their own houses was analyzed, it was found they didnt have clients interest at heart during transactions. The most interesting observation is, however, about the Internet. The author says, the operating world of several industries has changed considerably after the arrival of Internet since all the information which was hoarded earlier is now freely available to people. About the Author: The author Prasoon Kumar works for http://www.uRead.com which is the leading online bookstore that offers all the current and all time great titles at never before prices. Follow the unusual approach of analyzing life through Economics followed by Steven Levitt. Grab your copy of Freakonomics at huge discount only at http://www.uread.com/book/freakonomics/9780141019017 Article Published On: 相关的主题文章: