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Butterfly Economics: A New General Theory of Social and Economic Behavior - Couverture rigide

Ormerod, Paul

 
9780375407659: Butterfly Economics: A New General Theory of Social and Economic Behavior

Synopsis

Why did VHS, an inferior video recorder technology, succeed in the marketplace, driving the superior Betamax out of business? Why do big-budget, acclaimed movies sometimes flop at the box office, while low-budget, idiosyncratic films become huge hits? The answers to these questions, says Paul Ormerod, remind us that economics is a science based on the workings of human society, as unpredictable an entity as there is.
In this analysis of why human beings persist in engaging in behavior that defies time-honored economic theory, Ormerod also explains why governments and industries throughout the world must completely reconfigure their traditional methods of economic forecasting if they are to succeed and prosper in an increasingly complicated global marketplace.

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Présentation de l'éditeur

In this cogently and elegantly argued analysis of why human beings persist in engaging in behavior that defies time-honored economic theory, Ormerod also explains why governments and industries throughout the world must completely reconfigure their traditional methods of economic forecasting if they are to succeed and prosper in an increasingly complicated global marketplace.

Biographie de l'auteur

Paul Ormerod has been head of the Economic Assessment Unit at The Economist and a visiting professor at the Universities of London and Manchester. He lives in London.

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