Misbehaving
The Making of Behavioral Economics
by Richard Thaler
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Misbehaving is a guided tour through the emergence of Behavioral Economics as a serious economic discipline, written by one of its most respected figures. The title relates to Thaler’s core theme: people do not act in the ultra rational way that traditional economic theory assumes. Instead, they ‘misbehave’ by making irrational decisions in predictable ways. This is the story of a sometimes vicious battle between traditional economists and the growing school of behavioral economists to which Thaler belongs, told in an understandable way with a good dose of humour thrown in as well.
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