Misbehaving - The Making of Behavioural Economics

In tracing the rise of behavioral economics, Richard H. Thaler provides an engaging exploration of how economic theory has evolved by embracing the quirks, biases, and real-world irrationalities of human decision-making. The traditional paradigm of rational actors and efficient markets, long held as sacrosanct in classical economics, is challenged by Thaler’s account of how actual people—"Humans," as he calls them—consistently misbehave relative to the models. This book not only recounts the academic journey of a field but also delivers practical insights for leaders, policymakers, and anyone intrigued by the ways in which psychology and economics intersect in everyday...