Schelling here offers an early analysis of 'tipping' in social situations involving a large number of individuals. -official citation for the 2005 Nobel Prize Micromotives and Macrobehavior was originally published over twenty-five years ago, yet the stories it tells feel just as fresh today. And the subject of these stories-how small and seemingly meaningless decisions and actions by individuals often lead to significant unintended consequences for a large group-is more important than ever. In one famous example, Thomas C. Schelling shows that a slight-but-not-malicious preference to have neighbors of the same race eventually leads to completely segregated populations. The updated edition of this landmark book contains a new preface and the author's Nobel Prize acceptance speech.
Schelling's [book] transformed the way many economists think about the relationship between competition and social welfare. -- Robert H. Frank - New York Times