Misbehaving
The Making of Behavioural Economics
What's it about
Ever wonder why you buy things you don't need or stick with a bad investment for too long? Discover the hidden psychological forces that make you "misbehave" with your money and decisions, and learn how to finally outsmart them for better outcomes. This summary unpacks the groundbreaking field of behavioral economics, created by Nobel laureate Richard Thaler. You'll explore why traditional economic theories fail to predict our irrational choices and gain practical insights into concepts like mental accounting and the endowment effect to improve your financial habits and professional life.
Meet the author
Richard H. Thaler is the 2017 Nobel Memorial Prize winner in Economic Sciences for his pioneering contributions to the field of behavioural economics. A keen observer of human irrationality, Thaler noticed that traditional economic models failed to account for our predictable quirks and biases. This realization led him on a journey to challenge economic orthodoxy, ultimately creating a new field that explores the psychology behind our financial decisions, as detailed in Misbehaving.
What's it about
Ever wonder why you buy things you don't need or stick with a bad investment for too long? Discover the hidden psychological forces that make you "misbehave" with your money and decisions, and learn how to finally outsmart them for better outcomes. This summary unpacks the groundbreaking field of behavioral economics, created by Nobel laureate Richard Thaler. You'll explore why traditional economic theories fail to predict our irrational choices and gain practical insights into concepts like mental accounting and the endowment effect to improve your financial habits and professional life.
Meet the author
Richard H. Thaler is the 2017 Nobel Memorial Prize winner in Economic Sciences for his pioneering contributions to the field of behavioural economics. A keen observer of human irrationality, Thaler noticed that traditional economic models failed to account for our predictable quirks and biases. This realization led him on a journey to challenge economic orthodoxy, ultimately creating a new field that explores the psychology behind our financial decisions, as detailed in Misbehaving.
The Script
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