Of the twenty most costly catastrophes since 1970, more than half have occurred since 2001. Is this an omen of what the 21st century will be? How might we behave in this new, uncertain and more dangerous environment? Will our actions be rational or irrational? A select group of scholars, innovators, and Nobel Laureates was asked to address challenges to rational decision making both in our day-to-day life and in the face of catastrophic threats such as climate changes, natural disasters, technological hazards, and human malevolence. At the crossroads of decision sciences, behavioral and neuro-economics, psychology, management, insurance, and finance, their contributions aim to introduce readers to the latest thinking and discoveries. The Irrational Economist challenges the conventional wisdom about how to make the right decisions in the new era we have entered. It reveals a profound revolution in thinking as understood by some of the greatest minds in our day, and underscores the growing role and impact of economists and other social scientists as they guide our most important personal and societal decisions.
Erwann Michel-Kerjan has authored or co-authored more than 40 publications at the crux of financial management and global risk governance, and his views regularly appear in leading media. In 2007, Dr. Michel-Kerjan was named a Young Global Leader by the World Economic Forum (Davos), an honour bestowed to recognize and acknowledge the most extraordinary leaders of the world under the age of 40. He lives in Philadelphia. Paul Slovic is a professor of psychology at the University of Oregon, a founder and President of Decision Research, and author of several scholarly books on human judgement and risk analysis. He is a recipient of the Distinguished Scientific Contribution Award from the American Psychological Association. He lives in Eugene.