Misbehaving: the making of behavioural economics

By:

Thaler, Richard H

Material type: Text

TextPublication details: U K Penguin Books 2016Description: xiv, 415p. 20 cm ; PbkISBN:

978-0241951224

Subject(s):

Economics--Psychological aspects Economics--Psychological aspects

DDC classification:

330.019 THA

Contents:

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?

Summary: 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.

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Holdings
Item type	Current library	Collection	Call number	Status	Date due	Barcode
Books	H.T. Parekh Library	GSB Collection	330.019 THA (Browse shelf(Opens below))	Checked out to Swati Priya (223147)	11/10/2024	B2144

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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.

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