The Biology of Boom and Bust

Thursday, June 21, 2012

John Coates, senior research fellow in neuroscience and finance at the University of Cambridge, explains what the laws of financial boom and bust—and risk-taking in general—have to do with testosterone. In The Hour Between Dog and Wolf: Risk Taking, Gut Feelings and the Biology of Boom and Bust, he explains his research and offers lessons from the new field—the biology of risk.


John Coates

Comments [3]


Hugh, you wrote: "Keynes, Samuelson, Galbraith — all [k]new better."

"Knew better" at what? Keynes, Samuelson, and Galbraith were as economically-ignorant as all the rest.

Jun. 21 2012 11:34 PM
MichaelB from Morningside Heights

Has the guest done similar research with gamblers?

Jun. 21 2012 01:09 PM

Another in the never-ending saga of science gone to the reductionists.

Not long ago, it was sociology and history reduced to economics. Now it's economics reduced to biology.

Why not economics reduced to biology reduced to physics? Will John Coates cede his privileged position today in the reductionist fetish of this time to the physicists and the reductionist fetish of tomorrow? (Go back 70 years of so, and economists were widely trying to emulate physics in their mathematical approaches to economics. Keynes, Samuelson, Galbraith — all new better.)

Jun. 21 2012 12:01 PM

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