Liran Einav is professor of economics at Stanford University. Amy Finkelstein is the John and Jennie S. MacDonald Professor of Economics at MIT. Ray Fisman is the Slater Family Chair in Behavioral Economics at Boston University.
“The authors, three US-based academics, keep the debate moving
along with a chatty, breezy style. . . . The book hits its stride
with the thornier problems insurance companies and their customers
are beginning to face.”—Oliver Ralph, Financial Times
“The authors, professors at Stanford, MIT and Boston, do a
masterful job of explaining the intractable complexities created by
this socially vital activity.”—Martin Wolf, Financial Times, “Best
Books of 2022: Economics”
“The problem of hidden information is central to understanding
insurance, and the nature of markets more generally. The very human
cat-and-mouse stories that animate Risky Business are not only
great fun; they also subtly reveal the basis of a great deal of
economics.”—George Akerlof, Nobel laureate in Economic Sciences
“Most people—indeed, most policy makers—don’t fully get why the
insurance business is really different from selling televisions or
broccoli or even other financial products. Risky Business gives an
accessible tour of why insurance is a special case and why it
matters. Without a doubt, it is likely to be the most fun book you
will ever read that includes the word ‘insurance’ in the
title.”—Austan Goolsbee, former chair of the Council of Economic
Advisors
“Risky Business does the seemingly impossible: it makes insurance
fun! Picture the most interesting book you can imagine about
insurance; I promise you, this book is three times better than the
one you imagined. Throw out the economics textbooks—this is how
people should learn economics!”—Steven D. Levitt, coauthor of
Freakonomics
“This book is a fascinating look at how insurance markets work (or
don’t). It’s a must read for people seeking to understand their own
choices, and for policy makers who shape those options.”—Emily
Oster, author of The Family Firm
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