RICHARD H. 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
What happens when economics finally admits that human beings don’t behave like rational machines? That is the central question driving Misbehaving, the irreverent and illuminating book from Nobel Prize-winning economist Richard Thaler, co-author of the seminal Nudge.
Classical economic theory rests on the assumption that people act rationally. Thaler has spent his career demonstrating why that assumption is wrong — and why it matters. Whether we’re buying an alarm clock, selling football tickets, or applying for a mortgage, we all fall prey to biases and make choices that no textbook economist would predict. In short, we misbehave. What began as an entertaining sideshow dismissed by mainstream economists has grown into one of the most influential forces reshaping how we think about money, markets, and everyday life.
By combining insights from human psychology with a sharp, practical understanding of incentives and market behaviour, Thaler shows how behavioural economics opens fresh perspectives on everything from household finances and faculty office assignments to TV quiz shows, sports transfer windows, and companies like Uber.
When psychology and economics collide, the results — as Thaler reveals — are as thought-provoking as they are entertaining. The implications for individuals, businesses, and governments are profound, and this book makes the case for all of them with wit, rigour, and clarity.
ISBN 13: 9780241951224
Author: Richard H Thaler
