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Author: Sendhil Mullainathan

Narrator: Ryan

Format: MP3

IBSN: 9780141961194

Language: English

Publish Date:

Audiobook length: 31 min

Contents

Chapter 1Overview
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Chapter 2The nature of scarcity
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Chapter 3The advantages of scarcity
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Chapter 4The adverse effects of scarcity
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Chapter 5How to reduce the effects of scarcity
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Chapter 6Summary&Review
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Why listen to Scarcity

Listening to the summary audiobook of "Scarcity" by Sendhil Mullainathan provides valuable insights into the psychological effects of scarcity on our decision-making and behavior. By exploring how limited resources—be it time, money, or attention—shape our cognitive processes and priorities, the summary highlights practical strategies for overcoming the pitfalls of a scarcity mindset. This condensed format allows listeners to grasp the key concepts efficiently, making it an ideal resource for anyone looking to enhance their understanding of human behavior and improve their decision-making in everyday life.

Author : Sendhil Mullainathan

Sendhil Mullainathan is a tenured professor at Harvard University, and one of the brightest scientific stars in behavioral economics. In 2002, he was awarded the MacArthur “Genius Grant” for his outstanding contributions to the field of behavioral economics. Together with the book’s co-author, Princeton University psychology professor Eldar Shafir, they co-founded the nonprofit “ideas42,” an organization dedicated to solving social problems with behavioral science.

Key Insights from Scarcity

  • Scarcity captures attention and consumes cognitive resources, leading individuals to focus on immediate needs while neglecting long-term considerations. This tunnel vision can create a cycle of poverty and poor decision-making that is difficult to break.
  • The concept of scarcity not only applies to financial resources but also to time, social connections, and even attention. When we feel scarce in any domain, we prioritize urgent tasks, often at the expense of important ones, leading to a deficit in overall well-being.
  • Mullainathan argues that addressing scarcity requires structural changes in how we approach decision-making and resource allocation. By designing systems that ease the burden of scarcity, society can foster better choices and improve outcomes for those affected.
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