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Misbehaving

Author: Richard H. Thaler
Publisher: Penguin Press
ISBN: 9780241951224
Size: 19.20 MB
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Misbehaving

Author: Richard H Thaler
Publisher: Penguin UK
ISBN: 0141966157
Size: 19.75 MB
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Why are we more likely to forgo the opportunity to sell a £100 bottle of wine rather than actually taking money out our wallet to pay for it, when ultimately the 'opportunity cost' of doing so is the same? Why would the 'endowment effect' mean that we value a free ticket worth hundreds of pounds more than the money we would get from selling it? In this new, ambitious work, Thaler presents his findings in behavioural economics and breaks down the biases and irrational tendancies in our thinking, showing us how to avoid making costly mistakes in life.

Misbehaving The Making Of Behavioral Economics

Author: Richard H. Thaler
Publisher: W. W. Norton & Company
ISBN: 0393246779
Size: 58.25 MB
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Get ready to change the way you think about economics. Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world. 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. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments. Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber. Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining. Shortlisted for the Financial Times & McKinsey Business Book of the Year Award

Nudge

Author: Richard H. Thaler
Publisher: Yale University Press
ISBN: 0300146817
Size: 43.84 MB
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Thaler and Sunstein offer a groundbreaking discussion of how to apply the science of choice to nudge people toward decisions that can improve their lives without restricting their freedom of choice.

Quasi Rational Economics

Author: Richard H. Thaler
Publisher: Russell Sage Foundation
ISBN: 9780871548474
Size: 44.47 MB
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Standard economics theory is built on the assumption that human beings act rationally in their own self interest. But if rationality is such a reliable factor, why do economic models so often fail to predict market behavior accurately? According to Richard Thaler, the shortcomings of the standard approach arise from its failure to take into account systematic mental biases that color all human judgments and decisions.

Misbehaving

Author: Instaread
Publisher: Instaread
ISBN: 1944195645
Size: 53.35 MB
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Misbehaving by Richard H. Thaler | Key Takeaways & Analysis Preview: Misbehaving: The Making of Behavioral Economics is an introduction to behavioral economics and an account of Richard H. Thaler’s role in developing and popularizing the field. The traditional economic theory of the 1970s presumed that people made economic decisions rationally. In this economic vision, rational individuals—or Econs, as Thaler calls them—know what they want, and they know how much they value the things they want… PLEASE NOTE: This is key takeaways and analysis of the book and NOT the original book. Inside this Instaread of Misbehaving: · Overview of the book · Important People · Key Takeaways · Analysis of Key Takeaways

The Winner S Curse

Author: Richard Thaler
Publisher: Simon and Schuster
ISBN: 1451697872
Size: 11.67 MB
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Richard Thaler challenges the received economic wisdom by revealing many of the paradoxes that abound even in the most painstakingly constructed transactions. He presents literate, challenging, and often funny examples of such anomalies as why the winners at auctions are often the real losers—they pay too much and suffer the "winner's curse"—why gamblers bet on long shots at the end of a losing day, why shoppers will save on one appliance only to pass up the identical savings on another, and why sports fans who wouldn't pay more than $200 for a Super Bowl ticket wouldn't sell one they own for less than $400. He also demonstrates that markets do not always operate with the traplike efficiency we impute to them.

Advances In Behavioral Finance

Author: Richard H. Thaler
Publisher: Princeton University Press
ISBN: 1400829127
Size: 20.85 MB
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This book offers a definitive and wide-ranging overview of developments in behavioral finance over the past ten years. In 1993, the first volume provided the standard reference to this new approach in finance--an approach that, as editor Richard Thaler put it, "entertains the possibility that some of the agents in the economy behave less than fully rationally some of the time." Much has changed since then. Not least, the bursting of the Internet bubble and the subsequent market decline further demonstrated that financial markets often fail to behave as they would if trading were truly dominated by the fully rational investors who populate financial theories. Behavioral finance has made an indelible mark on areas from asset pricing to individual investor behavior to corporate finance, and continues to see exciting empirical and theoretical advances. Advances in Behavioral Finance, Volume II constitutes the essential new resource in the field. It presents twenty recent papers by leading specialists that illustrate the abiding power of behavioral finance--of how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena. As with the first volume, it reaches beyond the world of finance to suggest, powerfully, the importance of pursuing behavioral approaches to other areas of economic life. The contributors are Brad M. Barber, Nicholas Barberis, Shlomo Benartzi, John Y. Campbell, Emil M. Dabora, Daniel Kent, François Degeorge, Kenneth A. Froot, J. B. Heaton, David Hirshleifer, Harrison Hong, Ming Huang, Narasimhan Jegadeesh, Josef Lakonishok, Owen A. Lamont, Roni Michaely, Terrance Odean, Jayendu Patel, Tano Santos, Andrei Shleifer, Robert J. Shiller, Jeremy C. Stein, Avanidhar Subrahmanyam, Richard H. Thaler, Sheridan Titman, Robert W. Vishny, Kent L. Womack, and Richard Zeckhauser.

A Course In Behavioral Economics 2e

Author: Erik Angner
Publisher: Macmillan International Higher Education
ISBN: 1137512938
Size: 73.98 MB
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A Course in Behavioral Economics is a concise and reader-friendly introduction to one of the hottest developments in social and behavioral science today. Covering all core areas of the subject, Erik Angner clearly lays out the theory and explains the intuitions behind it. A rich selection of applications from economics, management, marketing, political science, and public policy illustrate how useful behavioral economics can be. No advanced mathematics is required. This redesigned and updated second edition: • includes a brand new chapter on behavioral welfare economics and the nudge agenda; • contains new sections on overconfidence, projection bias, and more; and • offers an expanded range of real-life examples and exercises, reflecting the continued uptake of behavioral economics across the disciplines. It is an ideal textbook for students coming to behavioral economics from various fields, for general readers looking for a thorough and readable introduction to the subject, and for anyone who has been captivated by popular-science books on behavioral economics and wants to know more.

Behavioral Economics For Dummies

Author: Morris Altman
Publisher: John Wiley & Sons
ISBN: 1118085035
Size: 28.53 MB
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Looks at how psychological factors, including instinct, social pressure, and mental framing, influence an individual's financial and purchasing choices.