Misbehaving: the making of behavioural economics
Thaler, Richard H.
Misbehaving: the making of behavioural economics - U K Penguin Books 2016 - xiv, 415p. 20 cm ; Pbk
Velan/VBS/262/16-17/23-02-17 Rs.599/-
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.
978-0241951224
Economics--Psychological aspects
Economics--Psychological aspects
330.019 THA
Misbehaving: the making of behavioural economics - U K Penguin Books 2016 - xiv, 415p. 20 cm ; Pbk
Velan/VBS/262/16-17/23-02-17 Rs.599/-
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.
978-0241951224
Economics--Psychological aspects
Economics--Psychological aspects
330.019 THA