New Books in Economics cover image

Noah Giansiracusa, "Robin Hood Math: Take Control of the Algorithms That Run Your Life" (Penguin, 2025)

New Books in Economics

00:00

Understanding Algorithms and Financial Decision-Making

This chapter explores the pervasive role of algorithms and mathematical principles in everyday life, advocating for greater accessibility to these concepts for informed decision-making. It emphasizes the importance of expected value in contexts like gambling and insurance, illustrating how understanding these principles can lead to better financial choices. Additionally, the chapter discusses the distinction between objective and subjective probabilities, shedding light on how personal experiences shape our understanding of likelihoods.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app