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Misbehaving: The Making of Behavioral Economics

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Understanding how humans really make economic decisions.

"Misbehaving is a fascinating read for anyone curious about the intersection of economics and psychology. Thaler offers a compelling argument for why traditional economic models don't work when applied to real humans, and provides practical advice for making better decisions. His witty anecdotes and engaging writing style make this book highly entertaining, while still providing valuable insights for individuals, businesses, and policymakers."

  • Financial Times Business Book of the Year Nominee for Shortlist (2015)
Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.
New

Misbehaving: The Making of Behavioral Economics

Regular price ₱539.55
Unit price
per
Compare to estimated retail price: ₱1,202.85 PHP  
ISBN: 9780393352795
Date of Publication: 2016-06-14
Format: Paperback
Goodreads rating: 4.16
(rated by 21128 readers)

Description

Nobel laureate 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 readers 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 bast
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Understanding how humans really make economic decisions.

"Misbehaving is a fascinating read for anyone curious about the intersection of economics and psychology. Thaler offers a compelling argument for why traditional economic models don't work when applied to real humans, and provides practical advice for making better decisions. His witty anecdotes and engaging writing style make this book highly entertaining, while still providing valuable insights for individuals, businesses, and policymakers."

  • Financial Times Business Book of the Year Nominee for Shortlist (2015)
Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.