An Economist Walks Into a Brothel - Lessons for Financial Advisors
About the Episode
Several years ago, Allison Schrager walked into the Moonlite BunnyRanch, a legal brothel in Nevada. She was there to study economics – specifically how the owners and sex workers dealt with and reduced the risks of their professions. Allison discusses the lessons from that experience, as well as a number of other professions she has studied - including the recent Jeopardy champion, James Holtzhauer.
About our Guest
Allison Schrager, the author of An Economist Walks into a Brothel. Allison is an economist, a journalist and a co-founder of LifeCycle Finance Partners, a risk advisory firm.
For more information about Allison Schrager, you can go to her web site. Here is a link to purchase her book on Amazon. Here is the article mentioned in the podcast about the challenges advisors face estimating probabilities and the consequences of decisions.