The Hour Between Dog and Wolf Lib/E: Risk Taking, Gut Feelings, and the Biology of Boom and Bust (Library)
Description
How risk taking transforms our body chemistry, driving us to extremes of euphoria and risky behavior-or stress and depression
In this eye-opening book, Coates-a former Wall Street trader and now a world-class neuroscientist-describes the role our biology plays in our risk-taking behavior. Coates brings his research to life by telling a story of fictional traders who get caught up in a bubble and then a crash. As these traders place their bets and live with the results, Coates looks inside their bodies to describe the physiology driving them into irrational exuberance and then pessimism. The result is a riveting tale and a penetrating insight into how traders'-and indeed all humans'-bodies guide their risk taking, endowing them with fast reactions and gut feelings; but how their biology can also lead them to extremes of euphoria or anxiety and stress, thereby wreaking havoc on the economy. Coates extends his conclusions to all types of high-pressure decision making-from the sports field to the battlefield.
Product Details
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About the Author
Paul Michael Garcia, an AudioFile Earphones Award winner and former company member of the Oregon Shakespeare Festival, received his classical training in theater from Southern Oregon University, where he worked as an actor, director, and designer.
Reviews
[A] profoundly unconventional book. It's also so absorbing that I wound up reading it twice...From the first page to the last, Coates challenges deep-seated assumptions.
-- "Bloomberg Businessweek"It makes intuitive sense that biological responses inform the mood of the markets. This book puts flesh on that idea.
-- "Economist"Compelling.
-- "New Scientist"If anyone is qualified to unify the seemingly disparate subjects of financial markets and neurology, it's John Coates...The Hour Between Dog and Wolf is a powerful distillation of his work-and an important step in the ongoing struggle to free economics from rational-actor theory.
-- "Daily Beast"This scintillating treatise...is a provocative and entertaining take on the irrational exuberance-and anxiety-of the modern economy.
-- "Publishers Weekly"A former financial trader, Coates combines his real-world experience and his clinical study of human physiology into a story of Wall Street speculators in action...A provocative challenger to rational-choice views of high finance, Coates makes an exceptionally clear, readable presentation that is bound to influence arguments about the regulation of Wall Street.
-- "Booklist"Coates...brings an educated, experienced eye to this examination of the biological side of the financial markets...Coates uses concrete examples to make understandable both the financial and neurological complexities that are central to his argument. Well-presented and intriguing.
-- "Kirkus Reviews"A vivid and brilliantly written narrative: by integrating his knowledge of neuroscience with his experience as a Wall Street trader, Coates pulls back the curtain on the physiological mechanisms that prepare some individuals to thrive and others to be devastated by confronting risk.
-- "Stephen W. Porges, director, Brain-Body Center, Department of Psychiatry, University of Illinois at Chicago"John Coates brings finely honed scientific insight to his insider's look at the world of high-wire high finance to produce a vivid depiction of the minds, brains, and bodies of economic movers and shakers living on the edge.
A terrific read-better than any amount of economic analysis because it explains what lies at the root of economic disaster-those biological drivers that cause sane and clever people to make catastrophic decisions. Every banker should be made to read it.
-- "Rita Carter, author of Mapping the Mind"
