Book description
While neo-classical analysis works well for studying impersonal exchange in markets, it fails to explain why people conduct themselves the way they do in their personal relationships with family, neighbors, and friends. In Humanomics, Nobel Prize-winning economist Vernon L. Smith and his long-time co-author Bart J. Wilson bring their study…
Why read it?
1 author picked Humanomics as one of their favorite books. Why do they recommend it?
Smith is generally considered as the father of economics, laying its foundations in the eighteenth century.
But he can also be an inspiration for rethinking economics (providing more realistic assumptions about human conduct) and laboratory experiments in the twenty-first century, helping us to build a new “Humanomics” (see also McCloskey’s two books on this subject). That’s what Vernon Smith (Nobel Prize in Economics in 2002) and Bart Wilson convincingly argue for in their uncommon and innovative book. Smith is still alive (and well alive) today.
From Andreas and Benoit's list on the Adam and smith of modern economics.
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