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