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Misbehaving: The Making of Behavioral Economics by Richard Thaler
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.
Tagsscience biases psychology economics behavioral economics book scientific inquiry
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Tagsscience economics behavioral economics scientific inquiry