chapter 3: freakonomics conventional wisdom: body of ideas or explanations generally accepted as true by the public or by experts in a field challenging the conventional wisdom of a sticky social situation may be difficult since experts are usually the ones presenting the facts advertising increases the demand of a market good “pitched as a solution for “chronic halitosis”—a then obscure medical term for bad breath. Listerine’s new ads featured forlorn young women and men‚ eager for marriage
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“Freakonomics” Would a Roshanda by any Other Name Small as Sweet Mason Noble POLS 101 Mr. Sims Summary: Chapter 6 of this book talks about whether or not the name that a parent give their child matters. Levitt provides an example about a New York City man who was named Robert Lane‚ he named his first son Winner and then named his next son Loser. Despite what his name suggests‚ Loser Lane succeeded in life‚ moving up in the NYPD. Winner Lane however‚ has been arrested nearly thirty six times
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In “Chapter 6” of Freakonomics‚ the author‚ Steven Levitt‚ discusses whether the names parents give their children determine the kind of person their children turns out to be. At first‚ the chapter begins with a case about the Winner and Loser brothers‚ whose lives contradict their names. Additionally‚ the author tells a story of a woman who named her daughter Temptress. Conversely‚ in this case‚ Temptress did suggest something about the ungovernable behavior of the fifteen-year-old daughter. The
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Professor Gade ECON 2103 21 October 2016 Freakonomics: Chapter 2‚3‚5 Freakonomics chapters two‚ three‚ and five intrigued me the most due to the chapter titles. In chapter two‚ the authors discuss the title question of the chapter‚ “How is The Ku Klux Klan Like a Group of Real-Estate Agents.” How does the world relate to one another‚ and how are groups the same in an information asymmetry aspect. In chapter three‚ the authors discuss the title question of the chapter “Why do Drug Dealers Still Live with
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Tre’Voris Word 28 February 2014 Coach Young Economics Freakonomics Freakonomics is a book about provocative analysis of human motivation and modern living. It reveals to the reader a common world through a totally different pair of lens. The author uses the raw data of economics to ask imaginative questions while it forces the reader to think cleverly and divertingly of the answers. The author’s approach to economics was done in a very unconventional way- as a smart‚ curious explorer parallel to
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Book Report: Freakonomics For my fourth quarter book report I decided to read Freakonomics by Steven D. Levit and Stephan J. Dubner. To be honest‚ I was dreading reading this book. My first thought was that it was going to be boring and like all economic textbooks‚ but I am happy to say that I was pleasantly surprised! Not only is this book easy to read and understand‚ but it also completely changed my outlook on the subject of economics. I now have an appreciation for economics and understand
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Microeconomics Freakonomics Real Estate Incentives apply to any business application you can think of because people respond to incentives. Incentives are what run humans and may times we act on incentives. An example would be if you own a bakery and everyday you make three-hundred cupcakes and you want increase production by another hundred you offer an incentive being that for every twenty extra cupcakes made there will be a five-hundred peso bonus. Using an incentive will not only increase
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Freakonomics At the time of Christmas Day of 1989 was when there was an overlap of crime rate. While in Romania the abortion Nicolae Ceausescu went out of power the crime rate in the United States was at its peak. Eventually in 1990 crime rate began falling‚ so fast that no one had a clue as to what was going on and what was the cause of this. In 1991 to 2001 there was 8 articles published as how law changes the crime rate. When in all reality only three can be shown to have contributed to the
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Freakonomics by Stephen Levitt and Stephen J. Dubner Introduction: The Hidden Side of Everything There are several things required to understand the world through economics: first‚ knowing the incentives of all parties; second‚ realizing that conventional wisdom is usually wrong; third‚ understanding that most effects have subtle and distant causes and the most obvious is often the wrong one; fourth‚ specialists like salesman and lawyers use obscure knowledge to achieve their own ends and
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Freakonomics: Reading Questions Chapter 1: Why do school teachers and sumo wrestlers cheat? 1. An incentive is something that is used to motivate or use as an encouragement to improve whatever the person is doing. In studying economics‚ incentives are used as form of payments‚ to encourage businesses to succeed in whatever they are doing. 2. The United States government puts a tax on foreign car companies to help United State citizens encourage to buy the American made cars. This acts
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