The first book to reveal how everday pricing strategies manipulate us Why do text messages cost money while emails are free? Why do cereal packets keep getting smaller? Why do department stores have a few extortionate goods that no one will buy? Why do so many prices end in 9? In Priceless, bestselling author William Poundstone reveals the hidden psychology of value and explores how we react to the most pervasive persuader of all: price. Charting the burgeoning growth of price-consultants who advise retailers from Nike to Nokia, Poundstone shows how behavioural decision theory has revolutionised the pricing strategies of major corporations. Informed by fascinating behavioural experiments and packed with real-life examples, Priceless explains why prices are so important, and the tricks that companies use to sell their goods. It will prove indispensable to anyone who buys, sells, or negotiates.
A humorous trivia book that has the official and final word on what qualifies as the coolest, the best, the toughest, the most, and of course the ultimate. Readers will enjoy learning which rollercoaster is the best, and what was the most ingenious college prank. Those are only a sample of this trivia book that will entertain all readers.
A masterful work of science writing that’s "both a fascinating biography of von Neumann, the Hungarian exile whose mathematical theories were building blocks for the A-bomb and the digital computer, and a brilliant social history of game theory and its role in the Cold War and nuclear arms race" (San Francisco Chronicle). Should you watch public television without pledging?...Exceed the posted speed limit?...Hop a subway turnstile without paying? These questions illustrate the so-called "prisoner's dilemma", a social puzzle that we all face every day. Though the answers may seem simple, their profound implications make the prisoner's dilemma one of the great unifying concepts of science. Watching players bluff in a poker game inspired John von Neumann—father of the modern computer and one of the sharpest minds of the century—to construct game theory, a mathematical study of conflict and deception. Game theory was readily embraced at the RAND Corporation, the archetypical think tank charged with formulating military strategy for the atomic age, and in 1950 two RAND scientists made a momentous discovery. Called the "prisoner's dilemma," it is a disturbing and mind-bending game where two or more people may betray the common good for individual gain. Introduced shortly after the Soviet Union acquired the atomic bomb, the prisoner's dilemma quickly became a popular allegory of the nuclear arms race. Intellectuals such as von Neumann and Bertrand Russell joined military and political leaders in rallying to the "preventive war" movement, which advocated a nuclear first strike against the Soviet Union. Though the Truman administration rejected preventive war the United States entered into an arms race with the Soviets and game theory developed into a controversial tool of public policy—alternately accused of justifying arms races and touted as the only hope of preventing them. Prisoner's Dilemma is the incisive story of a revolutionary idea that has been hailed as a landmark of twentieth-century thought.
Prada stores carry a few obscenely expensive items in order to boost sales for everything else (which look like bargains in comparison). People used to download music for free, then Steve Jobs convinced them to pay. How? By charging 99 cents. That price has a hypnotic effect: the profit margin of the 99 Cents Only store is twice that of Wal-Mart. Why do text messages cost money, while e-mails are free? Why do jars of peanut butter keep getting smaller in order to keep the price the "same"? The answer is simple: prices are a collective hallucination. In Priceless, the bestselling author William Poundstone reveals the hidden psychology of value. In psychological experiments, people are unable to estimate "fair" prices accurately and are strongly influenced by the unconscious, irrational, and politically incorrect. It hasn't taken long for marketers to apply these findings. "Price consultants" advise retailers on how to convince consumers to pay more for less, and negotiation coaches offer similar advice for businesspeople cutting deals. The new psychology of price dictates the design of price tags, menus, rebates, "sale" ads, cell phone plans, supermarket aisles, real estate offers, wage packages, tort demands, and corporate buyouts. Prices are the most pervasive hidden persuaders of all. Rooted in the emerging field of behavioral decision theory, Priceless should prove indispensable to anyone who negotiates.
Trick Questions, Zen-like Riddles, Insanely Difficult Puzzles, and Other Devious Interviewing Techniques You Need ... to Get a Job Anywhere in the New Economy
Trick Questions, Zen-like Riddles, Insanely Difficult Puzzles, and Other Devious Interviewing Techniques You Need ... to Get a Job Anywhere in the New Economy
You are shrunk to the height of a nickel and thrown in a blender. The blades start moving in 60 seconds. What do you do? If you want to work at Google, or any of America's best companies, you need to have an answer to this and other puzzling questions. Are You Smart Enough to Work at Google? guides readers through the surprising solutions to dozens of the most challenging interview questions. The book covers the importance of creative thinking, ways to get a leg up on the competition, what your Facebook page says about you, and much more. Are You Smart Enough to Work at Google? is a must-read for anyone who wants to succeed in today's job market.
In 1956, two Bell Labs scientists discovered the scientific formula for getting rich. One was mathematician Claude Shannon, neurotic father of our digital age, whose genius is ranked with Einstein's. The other was John L. Kelly Jr., a Texas-born, gun-toting physicist. Together they applied the science of information theory—the basis of computers and the Internet—to the problem of making as much money as possible, as fast as possible. Shannon and MIT mathematician Edward O. Thorp took the "Kelly formula" to Las Vegas. It worked. They realized that there was even more money to be made in the stock market. Thorp used the Kelly system with his phenomenally successful hedge fund, Princeton-Newport Partners. Shannon became a successful investor, too, topping even Warren Buffett's rate of return. Fortune's Formula traces how the Kelly formula sparked controversy even as it made fortunes at racetracks, casinos, and trading desks. It reveals the dark side of this alluring scheme, which is founded on exploiting an insider's edge. Shannon believed it was possible for a smart investor to beat the market—and William Poundstone's Fortune's Formula will convince you that he was right.
In this compelling life of Carl Sagan, award-winning science writer William Poundstone details the transformation of a bookish young astronomer obsessed with life on other worlds into science's first authentic media superstar. The instantly recognizable Sagan, a fixture on television and a bestselling author, offered the layperson entry into the mysteries of the cosmos and of science in general. To much of the scientific community, however, he was a pariah, a brazen publicity seeker who cared more about his image and his fortune than the advancement of science. Poundstone reveals the seldom-discussed aspects of Sagan's life, the legitimate and important work of his early scientific career, the almost obsessive capacity to take on endless projects, and the multiple marriages and fractured personal life, in what The New Yorker called an "evenhanded guide" to a great man's career.
The real-world value of knowledge in the mobile-device age. More people know who Khloe Kardashian is than who Rene Descartes was. Most can't find Delaware on a map, correctly spell the word occurrence, or name the largest ocean on the planet. But how important is it to fill our heads with facts? A few keystrokes can summon almost any information in seconds. Why should we bother learning facts at all? Bestselling author William Poundstone confronts that timely question in Head in the Cloud. He shows that many areas of knowledge correlate with the quality of our lives -- wealth, health, and happiness -- and even with politics and behavior. Combining Big Data survey techniques with eye-opening anecdotes, Poundstone examines what Americans know (and don't know) on topics ranging from quantum physics to pop culture. Head in the Cloud asks why we're okay with spelling errors on menus but not on resumes; why Fox News viewers don't know which party controls Congress; why people who know "trivia" make more money than those who don't; how individuals can navigate clickbait and media spin to stay informed about what really matters. Hilarious, humbling, and wildly entertaining, Head in the Cloud is a must-read for anyone who doesn't know everything.
How do you predict something that has never happened before? There's a useful calculation being employed by Wall Street, Silicon Valley and maths professors all over the world, and it predicts that the human species will become extinct in 760 years. Unfortunately, there is disagreement over how to apply the formula, and some argue that we might only have twenty years left. Originally devised by British clergyman Thomas Bayes, the theorem languished in obscurity for two hundred years before being resurrected as the lynchpin of the digital economy. With brief detours into archaeology, philology, and overdue library books, William Poundstone explains how we can use it to predict pretty much anything. What is the chance that there are multiple universes? How long will Hamilton run? Will the US stock market continue to perform as well this century as it has for the last hundred years? And are we really all doomed?
A practical guide to outguessing everything, from multiple-choice tests to the office football pool to the stock market. People are predictable even when they try not to be. William Poundstone demonstrates how to turn this fact to personal advantage in scores of everyday situations, from playing the lottery to buying a home. Rock Breaks Scissors is mind-reading for real life. Will the next tennis serve go right or left? Will the market go up or down? Most people are poor at that kind of predicting. We are hard-wired to make bum bets on "trends" and "winning streaks" that are illusions. Yet ultimately we're all in the business of anticipating the actions of others. Poundstone reveals how to overcome the errors and improve the accuracy of your own outguessing. Rock Breaks Scissors is a hands-on guide to turning life's odds in your favor.
Learn how to succeed at interview mind games and win job offers at A‑list companies, with more than eighty difficult and devious questions, puzzles, and brain teasers Each year about 28 million Americans begin a search for a new job. Many more live in the age of the permanent job search, their online profiles eternally awaiting a better offer. Job seekers are more mobile and better informed than ever, aspiring to work for employers offering an appealing culture, a robust menu of perks, and opportunities for personal fulfillment and advancement. The result is that millions of applications stream to the handful of companies that regularly top listings of the best companies to work for: Apple, Netflix, Amazon, Alphabet, Disney, SpaceX, Oracle, Pricewaterhouse-Coopers, and others. Tesla has received as many as 200 applications for each open position. How do selective employers choose which people to hire? It’s through interviews asking uniquely demanding questions testing imagination, persistence, and creativity, like: Can an astronaut throw a baseball so it hits Earth? If you had $2,000, how would you double it in 24 hours? How is a milk carton like a plane seat? Chicken McNuggets come in boxes of 6, 9, and 20. What’s the largest number of McNuggets that McDonald’s can’t sell you? How many dogs in the world have the exact same number of hairs? How Do You Fight a Horse-Sized Duck? explores the new world of interviewing at A-list employers. It reveals more than eighty notoriously challenging interview questions and supplies both answers and a general strategy for creative problem-solving.
Winner, Engineer-Historian Award from the American Society of Mechanical Engineers Navies have always been technologically sophisticated, from the ancient world's trireme galleys and the Age of Sail's ships-of-the-line to the dreadnoughts of World War I and today's nuclear-powered aircraft carriers and submarines. Yet each large technical innovation has met with resistance and even hostility from those officers who, adhering to a familiar warrior ethos, have grown used to a certain style of fighting. In Technological Change and the United States Navy, William M. McBride examines how the navy dealt with technological change—from the end of the Civil War through the "age of the battleship"—as technology became more complex and the nation assumed a global role. Although steam engines generally made their mark in the maritime world by 1865, for example, and proved useful to the Union riverine navy during the Civil War, a backlash within the service later developed against both steam engines and the engineers who ran them. Early in the twentieth century the large dreadnought battleship at first met similar resistance from some officers, including the famous Alfred Thayer Mahan, and their industrial and political allies. During the first half of the twentieth century the battleship exercised a dominant influence on those who developed the nation's strategies and operational plans—at the same time that advances in submarines and fixed-wing aircraft complicated the picture and undermined the battleship's superiority. In any given period, argues McBride, some technologies initially threaten the navy's image of itself. Professional jealousies and insecurities, ignorance, and hidebound traditions arguably influenced the officer corps on matters of technology as much as concerns about national security, and McBride contends that this dynamic persists today. McBride also demonstrates the interplay between technological innovation and other influences on naval adaptability—international commitments, strategic concepts, government-industrial relations, and the constant influence of domestic politics. Challenging technological determinism, he uncovers the conflicting attitudes toward technology that guided naval policy between the end of the Civil War and the dawning of the nuclear age. The evolution and persistence of the "battleship navy," he argues, offer direct insight into the dominance of the aircraft-carrier paradigm after 1945 and into the twenty-first century.
From the author of Are You Smart Enough to Work at Google?, a fascinating look at how an equation that foretells the future is transforming everything we know about life, business, and the universe. In the 18th century, the British minister and mathematician Thomas Bayes devised a theorem that allowed him to assign probabilities to events that had never happened before. It languished in obscurity for centuries until computers came along and made it easy to crunch the numbers. Now, as the foundation of big data, Bayes' formula has become a linchpin of the digital economy. But here's where things get really interesting: Bayes' theorem can also be used to lay odds on the existence of extraterrestrial intelligence; on whether we live in a Matrix-like counterfeit of reality; on the "many worlds" interpretation of quantum theory being correct; and on the biggest question of all: how long will humanity survive? The Doomsday Calculation tells how Silicon Valley's profitable formula became a controversial pivot of contemporary thought. Drawing on interviews with thought leaders around the globe, it's the story of a group of intellectual mavericks who are challenging what we thought we knew about our place in the universe. The Doomsday Calculation is compelling reading for anyone interested in our culture and its future.
From the author of Are You Smart Enough to Work at Google?, a fascinating look at how an equation that foretells the future is transforming everything we know about life, business, and the universe. In the 18th century, the British minister and mathematician Thomas Bayes devised a theorem that allowed him to assign probabilities to events that had never happened before. It languished in obscurity for centuries until computers came along and made it easy to crunch the numbers. Now, as the foundation of big data, Bayes' formula has become a linchpin of the digital economy. But here's where things get really interesting: Bayes' theorem can also be used to lay odds on the existence of extraterrestrial intelligence; on whether we live in a Matrix-like counterfeit of reality; on the "many worlds" interpretation of quantum theory being correct; and on the biggest question of all: how long will humanity survive? The Doomsday Calculation tells how Silicon Valley's profitable formula became a controversial pivot of contemporary thought. Drawing on interviews with thought leaders around the globe, it's the story of a group of intellectual mavericks who are challenging what we thought we knew about our place in the universe. The Doomsday Calculation is compelling reading for anyone interested in our culture and its future.
Born into Edwardian England, Amory's first memory is of her father standing on his head. She has memories of him returning on leave during the First World War. But his absences, both actual and emotional, are what she chiefly remembers. It is her photographer uncle Greville who supplies the emotional bond she needs, who, when he gives her a camera and some rudimentary lessons in photography, unleashes a passion that will irrevocably shape her future.A spell at boarding school ends abruptly and Amory begins an apprenticeship with Greville in London, photographing socialites for the magazine Beau Monde. But Amory is hungry for more and her search for life, love, and artistic expression will take her to the demi monde of Berlin of the late '20s, to New York of the '30s, to the blackshirt riots in London, and to France in the Second World War where she becomes one of the first women war photographers. Her desire for experience will lead Amory to further wars, to lovers, husbands, and children as she continues to pursue her dreams and battle her demons. In this enthralling story of a life fully lived, illustrated with “found” period photographs, William Boyd has created a sweeping panorama of some of the most defining moments of modern history, told through the camera lens of one unforgettable woman, Amory Clay. It is his greatest achievement to date.
The evolution of a set of fields—including operations research and systems analysis—intended to improve policymaking and explore the nature of rational decision-making. During World War II, the Allied military forces faced severe problems integrating equipment, tactics, and logistics into successful combat operations. To help confront these problems, scientists and engineers developed new means of studying which equipment designs would best meet the military's requirements and how the military could best use the equipment it had on hand. By 1941 they had also begun to gather and analyze data from combat operations to improve military leaders' ordinary planning activities. In Rational Action, William Thomas details these developments, and how they gave rise during the 1950s to a constellation of influential new fields—which he terms the “sciences of policy”—that included operations research, management science, systems analysis, and decision theory. Proponents of these new sciences embraced a variety of agendas. Some aimed to improve policymaking directly, while others theorized about how one decision could be considered more rational than another. Their work spanned systems engineering, applied mathematics, nuclear strategy, and the philosophy of science, and it found new niches in universities, in businesses, and at think tanks such as the RAND Corporation. The sciences of policy also took a prominent place in epic narratives told about the relationships among science, state, and society in an intellectual culture preoccupied with how technology and reason would shape the future. Thomas follows all these threads to illuminate and make new sense of the intricate relationships among scientific analysis, policymaking procedure, and institutional legitimacy at a crucial moment in British and American history.
Great Investment Ideas is a collection of articles published in the Journal of Portfolio Management from 1993 to 2015. The book contains useful ideas for investment management and trading and discusses the methods, results and evaluation of great investors. It also covers important topics such as the effect of errors in means, variances and co-variances in portfolio selection problems, stock market crashes and stock market anomalies, portfolio theory and practice, evaluation theory, etc. This book is a must-have publication for investors and financial experts, researchers and graduate students in finance.
This book discusses scenarios for risk management and developing global investment strategies. What are the chances that various future events will occur over time and how should these events and probable occurrence influence investment decisions? Assessing all possible outcomes is fundamental to risk management, financial engineering and investment and hedge fund strategies. A careful consideration of future scenarios will lead to better investment decisions and avoid financial disasters. The book presents tools and case studies around the world for analyzing a wide variety of investment strategies, building scenarios to optimize returns.
This guidebook presents historical and new material to assist the reader to understand NFL game strategies and provides a winning betting strategy. The authors, William Ziemba and Leonard MacLean are professors, traders, financial analysts and sports enthusiasts. They covered ideas like the game's strategies, and shared their wealth of personal experience analyzing the regular season, the playoffs and the Super Bowls in the years 2010-2017. The results of their actual betting for the 2009-10 to the 2017-18 seasons are provided. The authors concluded the book with a forecast for the 2018-2019 season. They determine the players most valuable to win the games, discuss crucial decisions and provide prediction methodology. The authors concluded with a forecast of the top teams, players and odds to win the 53rd Super Bowl.
A leading intelligent-design supporter writes to prove a good God's existencein an evil world, in turn explaining what the end result of true Christianitymust be.
Bottlenecker (n): a person who advocates for the creation or perpetuation of government regulation, particularly an occupational license, to restrict entry into his or her occupation, thereby accruing an economic advantage without providing a benefit to consumers. The Left, Right, and Center all hate them: powerful special interests that use government power for their own private benefit. In an era when the Left hates “fat cats” and the Right despises “crony capitalists,” now there is an artful and memorable one-word pejorative they can both get behind: bottleneckers. A “bottlenecker” is anyone who uses government power to limit competition and thereby reap monopoly profits and other benefits. Bottleneckers work with politicians to constrict competition, entrepreneurial innovation, and opportunity. They thereby limit consumer choice; drive up consumer prices; and they support politicians who willingly overstep the constitutional limits of their powers to create, maintain, and expand these anticompetitive bottlenecks. The Institute for Justice’s new book Bottleneckers coins a new word in the American lexicon, and provides a rich history and well-researched examples of bottleneckers in one occupation after another—from alcohol distributors to taxicab cartels—pointing the way to positive reforms.
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