Misbehaving: The Making of Behavioral Economics by Richard H. Thaler (Hardback, 2015)
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- DescriptionRichard H. Thaler has spent his career studying the radical tion that the central agents in the ecomy are humans-predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth-and change the way we think about ecomics, ourselves, and our world. Traditional ecomics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were thing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by ecomists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by ecomists as an amusing sideshow, the study of human miscalculations and their effects on markets w drives efforts to make better decisions in our lives, our businesses, and our governments. Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral ecomic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber. Laced with antic stories of Thaler's spirited battles with the bastions of traditional ecomic thinking, Misbehaving is a singular look into profound human foibles. When ecomics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining.
- Author BiographyRichard H. Thaler is the coauthor of the best-selling book Nudge with Cass R. Sunstein, and the author of Quasi Rational Economics and The Winner's Curse. He is a professor of behavioral science and economics at the University of Chicago Booth School of Business and, in 2015, the president of the American Economic Association.
- PrizesShortlisted for Financial Times and McKinsey Business Book of the Year Award 2015.
- Author(s)Richard H. Thaler
- PublisherWW Norton & Co
- Date of Publication12/05/2015
- SubjectEconomics: Professional & General
- Place of PublicationNew York
- Country of PublicationUnited States
- ImprintWW Norton & Co
- Content Noteillustrations
- Weight800 g
- Width165 mm
- Height244 mm
- Spine35 mm
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