Can You Outsmart An Economist? Quotes

“The chief merit of the price system is that it makes effective use of information that is not available to any single decision maker. When the price system is overridden, information is discarded. When information is discarded, resources are misallocated. When resources are misallocated, prosperity suffers. If you’re trying to make people prosperous, relying on prices is your best strategy.”
― Steven E. Landsburg, Can You Outsmart an Economist?: 100+ Puzzles to Train Your Brain

“Economists aspire to understand, predict, and explain all human behavior. We believe that much of that behavior is strategic, which just means that people try to anticipate how others will respond to their behavior and plan accordingly.”
― Steven E. Landsburg, Can You Outsmart an Economist?: 100+ Puzzles to Train Your Brain

“Much of economics is about what it means to be rational, and the extent to which human behavior is rational, and why anyone should care. In other words: How do people make decisions, how could they make better decisions, and would better decisions improve their lives?”
― Steven E. Landsburg, Can You Outsmart an Economist?: 100+ Puzzles to Train Your Brain