The Economic Naturalist

The playful guide to how economics explains the simple but profound ideas that govern our world. Why do the keypads on drive-up cash machines have Braille dots? Why are round-trip fares from Orlando to Kansas City higher than those from Kansas City to Orlando? For decades, Robert Frank has been asking his economics students to pose and answer questions like these as a way of learning how economic principles operate in the real world--which they do everywhere, all the time. Once you learn to think like an economist, all kinds of puzzling observations start to make sense. This book employs basic economic principles to answer scores of intriguing questions, and, along the way, introduces key ideas such as the cost-benefit principle, the "no cash left on the table" principle, and the law of one price. There is no more delightful and painless way of learning these fundamental principles.--From publisher description.