The Hour Between Dog and Wolf

“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 “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.”—The Daily Beast“[I]t makes intuitive sense that biological responses inform the mood of the markets. This book puts flesh on that idea.”—The Economist“Compelling.”—New Scientist“[A] scintillating treatise on the neurobiology of the business cycle. Coates… draws an intimate portrait of life on a trading floor …The result is a provocative and entertaining take on the irrational exuberance—and anxiety—of the modern economy.”—Publishers Weekly“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“An in-depth look at how financial risk-taking is linked to human biology, especially to the testosterone levels of young male traders, and the implications of this phenomenon for financial markets and the wider economy.”—Kirkus

John Coates is a Research Fellow in neuroscience and finance at the University of Cambridge, and previously traded derivatives for Goldman Sachs and ran a trading desk for Deutsche Bank. He now researches the biology of risk taking and stress. His book, The Hour Between Dog and Wolf, was shortlisted for the FT-Goldman Business Book of the Year, and the UK Wellcome Trust Science Prize. It was also chosen as book of the month by the British Army. His research on risk taking has attracted interest from business, medicine, and the military, as well as elite sports teams.