Items related to Misbehaving: The Making of Behavioral Economics
Synopsis
Get ready to change the way you think about economics. Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy 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 economics, ourselves, and our world. Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing 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 economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. 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 behavior, Thaler enlightens listeners about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic 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 economic thinking, "Misbehaving" is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining."
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Review
The creative genius who invented the field of behavioral economics is also a master storyteller and a very funny man. All these talents are on display in this wonderful and important book (Daniel Kahneman, winner of the Nobel Prize in Economics and author of Thinking, Fast and Slow)
Misbehaving gives us the story behind some of the most important insights in modern economics. If I had to be trapped in an elevator with any contemporary intellectual, I'd pick Richard Thaler (Malcolm Gladwell)
A long, genial, often humorous account of the progress of Behavioural Economics by one of its most gifted practitioners. Kahneman has described Thaler as lazy; he meant it as a compliment because Thaler's laziness means he concentrates only on the really important questions that get him out of bed in the morning... this is important stuff (Bryan Appleyard Sunday Times)
Gripping... a novelised intellectual history, replete with heroes and villains, triumphs and disasters, conflicts and comradeship... Thaler is a brilliant scholar, endlessly curious, empirically inclined and public spirited (Richard Reeves Guardian)
The economist who realized how crazy we are (Michael Lewis Bloomberg)
Robust enough intellectually to be a serious work of social science and a proper record of an important intellectual movement, Misbehaving is also fun for the general reader... a good book about an important topic (Daniel Finkelstein The Times)
Until now... there has been no account of how the subject developed. Professor Thaler was one of its founders, and with Misbehaving has set this right (Independent)
An enthralling history of behavioural economics
Professor Thaler's entertaining book provides an important reminder of both the challenges and opportunities that come from working across the sometimes artificial boundaries between academic disciplines (Jonathan A. Knee New York Times)
I would like everyone in business to buy this book and claim half the cost on expenses. The book is so enjoyable, it would be improper to claim more (Rory Sutherland, vice-chairman, Ogilvy & Mather UK)
About the Author
Richard H. Thaler is the Ralph and Dorothy Keller Distinguished Service Professor of Behavioral Science and Economics and the director of the Center for Decision Research at the University of Chicago's Graduate School of Business. He is the author of Nudge: Improving Decisions About Health, Wealth and Happiness.
"About this title" may belong to another edition of this title.
- PublisherAudible Studios on Brilliance audio
- Publication date2015
- ISBN 10 1501238671
- ISBN 13 9781501238673
- BindingMP3 CD
- LanguageEnglish
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