My “Super Freakonomics” Book ReportNovember 2, 2009
I love the “freakquel” for Freakonomics titled Super Freakonomics. It is a super interesting read and please don’t let my book report replace reading the book. My hope is that it will lead you to check it out of the library, stroll on down to Barnes and Noble or download it onto your Kindle.
People respond to incentives. During 2009 the apartment industry became the perfect case study for this fact. However, what we need to be concerned with is explained in this book. “People respond to incentives, although not necessarily in ways that are predictable or manifest. Therefore, one of the most powerful laws of the universe is the law of unintended consequences.” When we understand this concept, we might start to see what is next for the concession driven markets.
The book explains numerous examples of unintended consequences of from a vast number of incentives. It will certainly change your way of thinking. I found myself empowered to make better decisions understanding the true cause and unintended effect that can often result.
Too often we feel that solutions do not exist unless they are right in front of our eyes. The authors take us through history to show this is not the case.
As sales and marketing experts, we must understand how people make decisions, change their mind and act on an opportunity. Super Freakonomics teaches us how an environment and or personal motivation could create a shift to a completely different intention by a human.
Don’t pick up this book if you want to understand the economy and where it is going. The book says if you “understand the incentives that lead a schoolteacher or sumo wrestler to cheat, you can understand how the subprime-mortgage bubble came to pass.”