Misbehaving : the making of behavioral economics / Richard H. Thaler.
By: Thaler, Richard H.Material type: BookPublisher: New York : W.W. Norton & Company, c.2015Edition: 1st ed.Description: xvi, 415 p. ; 25 cm.ISBN: 9780393080940 (hardcover : alk. paper).Subject(s): Economics -- Psychological aspects | | BAEPS, Economics November2018Genre/Form: -- Reading bookDDC classification: 330.019
|Item type||Current location||Collection||Call number||Status||Date due||Barcode||Item holds|
|Book - Borrowing||Central Library First floor||Baccah||330.019 THA (Browse shelf)||Available||000043919|
Includes bibliographical references (pages 373-391) and index.
I. Beginnings : 1970-78. Supposedly irrelevant factors ; The endowment effect ; The list ; Value theory ; California dreamin' ; The gauntlet --
II. Mental accounting : 1979-85. Bargains and rip-offs ; Sunk costs ; Buckets and budgets ; At the poker table --
III. Self-Control : 1975-88. Willpower No problem ; The Planner and the doer --
Interlude. Misbehaving in the real world --
IV. Working With Danny : 1984-85. What seems fair? ; Fairness games ; Mugs --
V. Engaging with the economics profession: 1986-94. The debate begins ; Anomalies ; Forming a team ; Narrow framing on the Upper East Side --
VI. Finance : 1983-2003. The beauty contest ; Does the stock market overreact?; The reaction to overreaction ; The price Is not right ; The battle of closed-end funds ; Fruit flies, icebergs, and negative stock prices --
VII. Welcome to Chicago : 1995-present . Law schooling ; The offices ; Football ; Game shows --
VIII. Helping out : 2004-present. Save more tomorrow ; Going public ; Nudging in the U.K. ; Conclusion: What is next?
"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
Winner of the Nobel prize in Economics.