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Phishing for Phools

artringwald

artringwald

TUG Review Crew
TUG Member
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Location
Oakdale, MN
Resorts Owned
DRI: The Point at Poipu, 3 deeded weeks, 1 of which is in The Club.
I just finished reading a new book by two Nobel prize winning economists, Phishing for Phools: The Economics of Manipulation and Deception by George Akerlof and Robert J. Shiller

They cover advertising, politics, pharma, food, alcohol, tobacco, and investing. I was disappointed there wasn't a chapter on timeshares. Interesting book, and very readable, considering it has "economics" in the title.

As long as there is profit to be made, sellers will systematically exploit our psychological weaknesses and our ignorance through manipulation and deception. Rather than being essentially benign and always creating the greater good, markets are inherently filled with tricks and traps and will "phish" us as "phools."
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