The Logic of Life

The Logic of Life: The Rational Economics of an Irrational World is a book by Tim Harford published in 2008 by Random House.

He uses economic principles to draw forth the rational elements of supposedly illogical behaviors to illustrate his point.

But in Job 3, working hard becomes the preferable choice, because the potential gain is so overwhelming that any chance - no matter how small - of obtaining it is seen as worthwhile.

Harford uses the Overwhelming Gain Paradox to explain the high salaries of certain professionals, such as bankers, executives and entertainers.

He argues that the process of preparing for and getting many of these jobs requires extremely hard work with little or no guarantee of reward - usually due to low market demand, or uncertainty.