Adam Hayes

Book Review: Irrational Together - CFA Institute Enterprising Investor Explore how culture, ideology, and group norms influence economic behavior in ways that go beyond standard behavioral finance models.

From the CFA Institute blog, a nice Book Review of Irrational Together wp.me/p1SgTN-vVo

The upside of uncertainty: how counterfeit risk in secondary markets influences primary luxury sales The rise of digital resale platforms has reshaped the global luxury goods market, creating opportunities for pre-owned luxury transactions while intro…

New paper out in Journal of Business Research w/ @lenapell.bsky.social .. We show how uncertainty regarding counterfeits in secondhand luxury markets has spillover effects on primary markets - extending Akerlof's lemons 🍋⌚
www.sciencedirect.com/science/arti...

How Social Dynamics Are Quietly Shaping Your Economic Reality Discover how your social background, friend groups, and cultural identity invisibly influence every financial decision you make, from credit cards to investments.

Investopedia wrote a piece highlighting my recent book:

www.investopedia.com/social-dynam...

Irrational Together A must-read that reshapes how we think about the social underpinnings of our financial choices. In Irrational Together, economic sociologist Adam S. Hayes takes readers on a fascinating journey to uncover the often-unseen social forces that shape our financial behavior. Drawing on original research and engaging real-world examples, Hayes challenges not only the notion that economic decisions are purely rational but also the prevailing behavioral economics view that irrational choices stem primarily from individual beliefs. Instead, he argues that our economic choices and actions are deeply embedded in our social and cultural contexts and that understanding these influences is crucial to fully grasp the complexities of financial decision-making. From the impact of social class and cultural capital on risk-taking and the role of social networks and group identities in shaping consumer choices to the gendered dimensions of financial advice and literacy, this book weaves together insights from sociology, behavioral economics, and cultural studies to paint a nuanced picture of how we navigate the economic landscape as inherently social beings. Why, for example, would someone choose to continue paying 20% interest on a large credit card debt rather than taking out a low-interest mortgage on their home to pay off the card? As Hayes makes clear through rigorous analysis, cultural values—like those related to home ownership—hold as much or more sway over us than financial best practices. Bridging the gap between behavioral economics and sociology, this groundbreaking work paves the way for a more holistic understanding of the social and cultural influences on economic behavior. Hayes also looks to the future and argues that to correct major disparities in our social understanding of wealth and money, we need to construct financial systems that consider a diversity of social backgrounds. With its accessible language and thought-provoking insights, Irrational Together is an essential guide for anyone seeking to understand the intersection of money, society, and human behavior.  

Summer reading! Drawing on original research & real-world examples, ASA member Adam Hayes ‪@adam-hayes.bsky.social‬, University of Lucerne, uncovers often-unseen social forces that shape our financial behavior in his new book, Irrational Together. ‪@uchicagopress.bsky.social‬

A nice review of my book in the journal 𝘍𝘪𝘯𝘢𝘯𝘤𝘦 𝘢𝘯𝘥 𝘚𝘰𝘤𝘪𝘦𝘵𝘺

www.cambridge.org/core/journal...

How Social Dynamics Are Quietly Shaping Your Economic Reality Discover how your social background, friend groups, and cultural identity invisibly influence every financial decision you make, from credit cards to investments.

Investopedia wrote a piece highlighting my recent book:

www.investopedia.com/social-dynam...

Neither gift nor loan: the strategic use of pseudo-formality at the nexus of intimacy and economy https://academic.oup.com/sf/article/103/4/1213/7899889?rss=1 In this paper, I introduce the concept of pseudo-formality as a novel form of relational work in economic sociology. Pseudo-forma #sociology

Today is the day! 🤓

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🎙️ Conférence du médialab – Jeudi 5 juin

Social Science and Generative AI: Inquiries, Instruments, Consequences

Cette journée étudiera l’IA générative comme dispositif sociotechnique, en interrogeant ses effets sur le travail scientifique ainsi que ses implications épistémologiques et sociales.🌐

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when you think the book is 300 pages long, but Notes start on page 250

Reading hardcovers without the dust jacket... rawr

I thought the NPR host was a one word nickname , "Stevinski"

My son thinks it's a "portal potty".

When asked what that means, he thinks the pee is transported to outer space 🤷🏻‍♂️

Irrational Together: The Social Forces That Invisibly Shape Our Economic Behavior In economic sociologist Adam S. Hayes takes readers on a fascinating journey to uncover the often-unseen social forces that shape our financial behavior. Drawing on original research and engaging r...

📔My book comes out May 29! Based largely on my own research at the intersection of #EconomicSociology and #BehavioralEconomics, it is intended for an educated general audience.

You can pre-order now on Amazon ($24.00):

amazon.com/dp/0226839311

NSF slashes prestigious PhD fellowship awards by half US National Science Foundation announces lowest number of Graduate Research Fellowship Programme recipients in 15 years.

NSF will award ~1,000 instead of their usual ~2,000 Graduate Research Fellowships this year.

NSF slashes prestigious PhD fellowship awards by half www.nature.com/articles/d41...

We're very excited to announce the publication of issue 11(1)!

143 pages packed with important & timely research on issues such as QE, the asset economy, Tesla, green finance, and inclusion, as well as three exciting essays/reviews featuring Wittgenstein, central banks & bailouts.

Do check it out!

What if human blood were toxic to mosquitoes? A drug can make it so Nature - A single dose of the drug nitisinone could render a person’s blood lethal to mosquitoes for five days, modelling suggests.

Mosquitoes die after drinking the blood of people taking a drug for metabolic disorders — a discovery that could help to prevent the spread of malaria

https://go.nature.com/4cl6dQP

It's not a bad idea to go to the local Walmart or big box retailer and buy lots of consumables now. From toothpaste to soap, anything you can find storage space for, buy before they have to replenish inventory.

Even if it's made in the USA , they will jack up the price and blame it on tariffs.

Seems noteworthy that we now have a VP who casually drops F-bombs in his public remarks. This is a first. Of course previous VPs and Presidents have sworn, but making it public like this is a new low in the coarseness of American society

Says more about economics than it does about LLMs