• An Economist Walks into a Brothel

  • And Other Unexpected Places to Understand Risk
  • By: Allison Schrager
  • Narrated by: Holly Palance
  • Length: 7 hrs and 32 mins
  • 4.2 out of 5 stars (376 ratings)

Prime logo Prime members: New to Audible?
Get 2 free audiobooks during trial.
Pick 1 audiobook a month from our unmatched collection.
Listen all you want to thousands of included audiobooks, Originals, and podcasts.
Access exclusive sales and deals.
Premium Plus auto-renews for $14.95/mo after 30 days. Cancel anytime.
An Economist Walks into a Brothel  By  cover art

An Economist Walks into a Brothel

By: Allison Schrager
Narrated by: Holly Palance
Try for $0.00

$14.95/month after 30 days. Cancel anytime.

Buy for $18.00

Buy for $18.00

Pay using card ending in
By confirming your purchase, you agree to Audible's Conditions of Use and Amazon's Privacy Notice. Taxes where applicable.

Publisher's summary

A Financial Times Book of the Month pick for April!

Is it worth swimming in shark-infested waters to surf a 50-foot, career-record wave?

Is it riskier to make an action movie or a horror movie?

Should sex workers forfeit 50 percent of their income for added security or take a chance and keep the extra money?

Most people wouldn't expect an economist to have an answer to these questions - or to other questions of daily life, such as who to date or how early to leave for the airport. But those people haven't met Allison Schrager, an economist and award-winning journalist who has spent her career examining how people manage risk in their lives and careers.

Whether we realize it or not, we all take risks large and small every day. Even the most cautious among us cannot opt out - the question is always which risks to take, not whether to take them at all. What most of us don't know is how to measure those risks and maximize the chances of getting what we want out of life.

In An Economist Walks into a Brothel, Schrager equips listeners with five principles for dealing with risk, principles used by some of the world's most interesting risk takers. For instance, she interviews a professional poker player about how to stay rational when the stakes are high, a paparazzo in Manhattan about how to spot different kinds of risk, horse breeders in Kentucky about how to diversify risk and minimize losses, and a war general who led troops in Iraq about how to prepare for what we don't see coming.

When you start to look at risky decisions through Schrager's new framework, you can increase the upside to any situation and better mitigate the downside.

©2019 Allison Schrager (P)2019 Penguin Audio

Critic reviews

"In this delightful book, financial economist and risk expert Allison Schrager shows us that the same principles employed by multi-billion dollar pension funds can help us improve risk management in our own lives. She teaches these principles while entertaining us with a series of off-the-beaten-path case studies. By creating distance from our own experiences, she allows us to better understand the principles of risk. It works! Whether a complete novice or a seasoned risk professional, the reader is in for a treat: Bon Appetit!" (Robert C Merton, distinguished professor of finance, MIT Sloan School and Nobel Laureate)

“Prostitution seems like a long stretch from the risks most of us deal with, such as outliving our retirement funds, but Schrager inventively extracts five life lessons from her interviews with practitioners of the so-called oldest profession, as well as others who’ve chosen unusual career paths.” (Bloomberg Businessweek)

“If you want to understand risk better, you have to go into some unconventional settings. In the tradition of Freakonomics, that’s what Allison Schrager does as an economist, and her book is not just informative - it’s an entertaining read too.” (Adam Grant, New York Times best-selling author of Originals and Give and Take)

What listeners say about An Economist Walks into a Brothel

Average customer ratings
Overall
  • 4 out of 5 stars
  • 5 Stars
    189
  • 4 Stars
    113
  • 3 Stars
    55
  • 2 Stars
    13
  • 1 Stars
    6
Performance
  • 4.5 out of 5 stars
  • 5 Stars
    189
  • 4 Stars
    92
  • 3 Stars
    31
  • 2 Stars
    6
  • 1 Stars
    2
Story
  • 4.5 out of 5 stars
  • 5 Stars
    164
  • 4 Stars
    90
  • 3 Stars
    45
  • 2 Stars
    17
  • 1 Stars
    1

Reviews - Please select the tabs below to change the source of reviews.