Is it worth swimming in shark-infested waters to surf a 50-foot,
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?
Allison Schrager is an economist, journalist at Quartz, and co-founder of LifeCycle Finance Partners, LLC, a risk advisory firm. Allison diversified her career by working in finance, policy, and media. She led retirement product innovation at Dimensional Fund Advisors and consulted to international organizations, including the OECD and IMF. She has also been a regular contributor to the Economist, Reuters, and Bloomberg Businessweek. She has a PhD in economics from Columbia University, currently teaches at New York University, and lives in New York City.
"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 & Nobel Laureate
"Allison Schrager offers a highly readable, yet nuanced, guide
to navigating the risks inherent in today's increasingly complex
world. A must-read for anyone seeking to command, to govern, or to
teach." -General Stanley McChrystal, New York Times
bestselling author of Team of Teams "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
bestselling author of Originals and Give and Take
"Allison Schrager's An Economist Walks Into a Brothel is the best, most readable, most informative, most adventurous, and most entertaining take on risk you will find." -Tyler Cowen, Professor of Economics at George Mason University
"A colorful, empowering guide to intelligent risk-taking." --Kirkus Reviews
"Provocative." --New York Times
"The most entertaining book on risk management ever written." --Booklist
"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 "The genius of An Economist Walks into a Brothel is that Schrager takes theories and research from retirement economics and applies them to other areas of life." --Inside Higher Ed