Tag Archives: irrational

Review: Priceless: The Myth of Fair Value (and How to Take Advantage of It)

William Poundstone’s “Priceless” (2010) is an interesting and useful read for anyone who’s curious about the arcane science of behavioral decision theory.  In application, this field of study is particularly useful in addressing questions regarding the both the psychology and, thus, the frequently debated “rationality of the market” (or lack thereof). 

As a fundamental economic concept, the psychological underpinnings of market behavior remains one of the least understood and, yet, most critical factors driving the business cycle,  and more often than not, public economic policy.  Continue reading

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