Saturday, 2 April 2011

What’s new in the second edition of The Undercover Economist?

Yes there is a second edition of The Undercover Economist by Tim Harford due out in the U.K. in Apirl. What's new? From Tim Harford's webpage:
I have tried to preserve as much as possible of the original book rather than surrendering to hindsight bias, but I have tried to update as many of the statistics and examples as possible as seamlessly as I can. (Occasionally I have used footnotes to highlight changes between the first edition and the second – especially if the changes have either proved me right, or made me look silly.)

A more substantial change has been to replace chapter six – which was originally about the dot-com bubble – with a new chapter about the banking crisis that began in 2007. The dot-com bubble, alas, now seems fairly benign in comparison with the banking crisis, and it felt impossible to publish a second edition without trying to make sense of it all.

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