Hard to say about the time because I worked on both books while also doing other projects. I suspect I could have done the Singularity book in about 1.5 years of full time effort. I don’t have a good estimate for the textbook. Alas, I have lost money on the singularity book because the advance wasn’t all that big, and I had personal expenses such as hiring a research assistant and paying a publicist. The textbook had a decent advance, still I probably earned roughly minimum wage for it. Surprisingly, I’ve done fairly well with my first book, Game Theory at Work, in part because of translation rights. With Game Theory at Work I’ve probably earned several times the minimum wage. Of course, I’m a professor and part of my salary from my college is to write, and I’m not including this.
I wanted to write a free market microeconomics textbook, and there are very few of these. I was recruited to write the textbook by the people who published Game Theory at Work. Had the textbook done very well, I could have made a huge amount of money (roughly equal to my salary as a professor) indefinitely. Alas, this didn’t happen but the odds of it happening were well under 50%. Since teaching microeconomics is a big part of my job as a college professor, there was a large overlap between writing the textbook and becoming a better teacher. My textbook publisher sent all of my chapters to other teachers of microeconomics to get their feedback, and so I basically got a vast amount of feedback from experts on how I teach microeconomics.
Hard to say about the time because I worked on both books while also doing other projects. I suspect I could have done the Singularity book in about 1.5 years of full time effort. I don’t have a good estimate for the textbook. Alas, I have lost money on the singularity book because the advance wasn’t all that big, and I had personal expenses such as hiring a research assistant and paying a publicist. The textbook had a decent advance, still I probably earned roughly minimum wage for it. Surprisingly, I’ve done fairly well with my first book, Game Theory at Work, in part because of translation rights. With Game Theory at Work I’ve probably earned several times the minimum wage. Of course, I’m a professor and part of my salary from my college is to write, and I’m not including this.
I wanted to write a free market microeconomics textbook, and there are very few of these. I was recruited to write the textbook by the people who published Game Theory at Work. Had the textbook done very well, I could have made a huge amount of money (roughly equal to my salary as a professor) indefinitely. Alas, this didn’t happen but the odds of it happening were well under 50%. Since teaching microeconomics is a big part of my job as a college professor, there was a large overlap between writing the textbook and becoming a better teacher. My textbook publisher sent all of my chapters to other teachers of microeconomics to get their feedback, and so I basically got a vast amount of feedback from experts on how I teach microeconomics.