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“... a brief postscript to one of the chapters and a few remarks in the preface, George Akerlof and Robert Shiller’s Animal Spirits was written before the current crisis. Yet, based on research undertaken over many years, it can be read as prefiguring the current disillusionment with economics. The trouble with prevailing theories, in Akerlof and ...”

“... the world?Behavioural economics proliferated in the 1980s and 1990s. Its early adoptees included Robert Shiller, who won the Nobel Prize in 2013 for his research on asset price volatility and the psychology of bubbles. Economics and psychology are now closer than ever, with new fields like neuro-economics using fMRIs to map the way the brain processes ...”

“... perfectly obvious. Somebody is – perfectly legally – trying to rip us off. George Akerlof and Robert Shiller’s new book, Phishing for Phools (Princeton, £16.95), is about this subject. It concerns, as its subtitle says, ‘the economics of manipulation and deception’. Akerlof and Shiller aren’t using the ...”