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Unformatted text preview: 04/21/08 Book Review AEM 447: Retail Speaker Series “Wal-Mart’s Understanding Of Incentives” As an undergraduate in the College of Agriculture and Life Sciences, majoring in Applied Economics and Management, I wanted to choose a book that would not only encompass the overlying principals of retailing but also those underlying economic principles that are many times over looked. After viewing the suggested reading list I was sure of the book that would accomplish this in one way or the other. Freakonomics is such an unconventional book that really puts a spin on economics, highlighting various aspects of the discipline which are many times overlooked. Regardless of who you are or what your interest, Freakonomics is a book that will keep every reader on the edge of their seats in anticipation. The authors, Steven D. Levitt and Stephen J. Dubner, employ in the introduction that “if morality represents how people would like the world to work, then economics shows how it actually does. Each succeeding chapter elaborates more on this underlying theme; from comparing the Ku Klux Klan to Real Estate Agents in chapter 2, all the way to the end of the book in chapter 6 where the discussion is on the importance of a name. However, the chapter I found to be most pertinent to the world of Retail was the very first. This chapter highlights the importance of incentives, “a means of urging...
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This essay was uploaded on 02/20/2009 for the course AEM 4470 taught by Professor Perosio,d. during the Spring '09 term at Cornell University (Engineering School).
- Spring '09