The Inner Lives of Markets: How People Shape Them-And They Shape Us

The Inner Lives of Markets: How People Shape Them-And They Shape Us by Sullivan, Tim. hardcover edition. ISBN: 9781610394925.

Americas economic revolution isnt just driven by technology. Its about markets. The past twenty-five years have witnessed a remarkable shift in how we get the stuff we want. If youve ever owned a business, rented an apartment, or shopped online, youve had a front-row seat for this revolution-in-progress. Breakthrough companies like Amazon and Uber have disrupted the old ways and made the economy work better -- all thanks to technology. At least thats how the story of the modern economy is usually told. But in this lucid, wry book, Ray Fisman and Tim Sullivan show that the revolution is bigger than tech: it is really a story about the transformation of markets. From the auction theories that power Googles ad sales algorithms to the models that online retailers use to prevent internet fraud, even the most high-tech modern businesses are empowered by theory first envisioned by economists. And were all participants in this revolution. Every time you book a room on Airbnb, hire a car on Lyft, or click on an ad, you too are reshaping our social institutions and our lives. The Inner Lives of Markets is necessary reading for the modern world: it reveals the blueprint for how we work, live, and shop, and offers wisdom for how to do it better.