Book notes: Phishing for phools, by George Akerlof and Robert Shiller
A study of the traps markets create for unwitting consumers
George Akerlof and Robert Shiller, Phishing for phools: the economics of manipulation and deception, Princeton University Press, 2015, 288 pages
The actual aim of this book, written by two distinguished Nobel laureates, is rather broader than the title implies. It looks over a wide range of topics to explain how the economic system can deliver outcomes that are to the disadvantage of the consumer and hence to the advantage of the suppliers or other groups with a market advantage. It very much
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