Misbehaving: The Making of Behavioral Economics
| Author | : | |
| Rating | : | 4.47 (895 Votes) |
| Asin | : | 039335279X |
| Format Type | : | paperback |
| Number of Pages | : | 432 Pages |
| Publish Date | : | 2015-01-13 |
| Language | : | English |
DESCRIPTION:
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 economists. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining.Shortlisted for the Financial Times & McKinsey Business Book of the Year Award. In other words, we misbehave. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now 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
Richard 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
All these talents are on display in this wonderful book.” - Daniel Kahneman, winner of the Nobel Prize in Economics and author of Thinking, Fast and Slow“The story behind some of the most important insights in modern economics. In this captivating book, he lays out the evidence for behavioral economics and explains why there was so much resistance to it. Shiller, winner of the Nobel Prize in Economics and author of Finance and the Good Society. Klein, Chicago Tribune“A masterful, readable account of behavioral economics. A rebel with a cause .where he wins Olympic gold is in keen observation; his greatest insigh
"Story of the professional career of a pioneer in behavioural economics" according to FCRichelieu. I was drawn to this book given that its author is a pioneer in behavioural economics. To me, it reads like a sequel to the fascinating works of psychologists Kahneman and Tversky on decision making and prospect theory.The book affords a close-up look (a firsthand account) at the exploration throughout the entire professional career of an illustrious economist. The subject is the role of human psychology in the decision making process. His experiments and observations bring into question some very basic ass. "Interesting but Read Nudge First" according to Inna Tysoe. Traditional economic theory is, as Richard Thaler points out, built upon the idea that humans can make rational choices. And yet that inability (which most economists—traditional or not--acknowledge) is treated as an irrelevance. Behavioral economists, by contrast, try to create a predictive theory of how economies which after all rely on real (rather than hypothetical) people actually work.And, it turns out, that an economy (be it large or small) works irrationally. How else to explain that we are p. Someone Needs To Take The Next Step This book is highly informative and delightfully entertaining for those interested in the history of behavioral economics (BE).Thaler is a giant in the field and has been with it from its early days, as both a participant and observer. He has contributedas an individual, as well as guiding the development of others as a leading professor in a leading school. Having worked with such notables as Daniel Kahneman, Cass Sunstein, and others, he is truly an insider's insider. As far as it goes, this book present