Misbehaving: The Making of Behavioral Economics
by Richard H. Thaler, 2015

Richard Thaler has had a front-row ticket to the shaping of the behavioral economics field. In fact, he’s probably driving the bus. Initially working with psychologists Daniel Kahneman and Amos Tversky, Thaler helped define where the traditional model of economic thinking falls short. Humans aren’t Econs (economically rational utility-maximizers). Thaler’s initial work helped document many Supposedly Irrelevant Factors (according to economic theory) that significantly affect human decision-making. He was an outsider arguing for inclusion of behavioral factors at more traditional economic gatherings. Once the new field showed enough promise and more behavioral economists started doing research, the field took on a life of its own. Now, behavioral economics conferences are common, and I’m even presenting at a Behavioral Operations Conference in July. Thaler even became president of the American Economics Association in 2015 (a development which he describes as “the lunatics are running the asylum” in the book), and behavioral economic thinking has made its way into the U.S. and U.K. executive government policy groups.

Overall, funny and insightful. Worthwhile read.

The Monopolists: Obsession, Fury, and the Scandal Behind the World’s Favorite Board Game
by Mary Pilon, 2015

I don’t know any Americans that have not played Monopoly. Either you love it or you are wrong. I’ve covered some of the strategy before; I try hard to win when I play. This interesting book describes Monopoly’s backstory, which differs from Parker Brothers’ traditional tale. Various incarnations of the game existed for 30 years before Parker Brothers bought the rights, and the “inventor” of Monopoly, Charles Darrow, blatantly copied it from a friend. It originated as an anti-capitalist game called the Landlord’s Game. The book ends up focusing upon the legal drama of the board game Anti-Monopoly, which Parker Brothers sued for trademark infringement. After 10 years, Anti-Monopoly won the case on appeal, partially due to the reveal during the court proceedings of long-hidden history of the game. We bought a copy of the Anti-Monopoly game during our travels a year ago; you won’t see it in many game stores because Hasbro (which now owns Parker Brothers (and Milton Bradley)) has agreements with most stores to keep out the upstart. You can play Anti-Monopoly as a Monopolist (similar rules to Monopoly) or a Free-Marketer (where you charge more reasonable rents regardless of how many properties you own of a specific color).

If you like Monopoly, here are a few tangential games to try out:
Anti-Monopoly
Advance to Boardwalk
Monopoly Deal Card Game
Stock Exchange Add-On to Monopoly

Napoleon’s Buttons: 17 Molecules that Changed History
by Penny Le Couteur and Jay Burreson, 2003

(This is a guest book review from Maria Schwartzman)

Did the chemical structure of tin play a role in Napoleon’s defeat and retreat from Moscow in 1812? That is how this fascinating look at the role chemistry has played throughout history begins. The seventeen general molecules discussed (peppers, nutmeg, and cloves; ascorbic acid; glucose; cellulose; nitro compounds; silk and nylon; phenol; isoprene; dyes; wonder drugs; the pill; molecules of witchcraft; morphine, nicotine, and caffeine; oleic acid; salt; chlorocarbon compounds; and molecules versus malaria) are woven into a narrative explaining both the chemistry behind the molecules and the history and context surrounding them. The chemistry is easy to understand (it’s not overpowering but stays interesting for someone who already knows chemical structures) and the history is fascinating. The order of the molecules presented was obviously thought out, as later chapters reference people or ideas from earlier ones, fully melding concepts together. I would recommend the book if you are interested in history, medicine, chemistry, production, biology, current technology… or really anything to do with human interest in the past 5000 years.

This book was listed on a “suggested summer reading list” developed by the DePauw librarians, and was recommended by one of the biochemistry professors. I enjoyed it very much. It is a fairly quick read (I didn’t spend a lot of time looking at the chemical structures) and is well written.