misbehaving the making of behavioral economics

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. 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. Thaler is a brilliant scholar, endlessly curious, empirically inclined and public spirited * Guardian * Misbehaving gives us the story behind some of the most important insights in modern economics. a novelised intellectual history, replete with heroes and villains, triumphs and disasters, conflicts and comradeship. Wildly disruptive - Michael Lewis * Bloomberg * Gripping. When economics meets psychology, the implications for individuals, managers and policy makers are both profound and entertaining.

He reveals how behavioural economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV quiz shows, sports transfer seasons, and businesses like Uber. Coupling recent discoveries in human psychology with a practical understanding of incentives and market behaviour, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. 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.

Whether buying an alarm clock, selling football tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. Now behavioural economics is hugely influential, changing the way we think not just about money, but about ourselves, our world and all kinds of everyday decisions. Richard Thaler has spent his career studying the notion that humans are central to the economy - and that we're error-prone individuals, not Spock-like automatons.

Traditional economics assumes that rational forces shape everything. THALER: WINNER OF THE 2017 NOBEL PRIZE IN ECONOMICS Shortlisted for the Financial Times and McKinsey Business Book of the Year Award ECONOMIST, FINANCIAL TIMES and EVENING STANDARD books of the year From the renowned and entertaining behavioural economist and co-author of the seminal work Nudge, Misbehaving is an irreverent and enlightening look into human foibles.

Misbehaving the making of behavioral economics