Misbehaving: The Making of Behavioral Economics

Summary

The book "Misbehaving: The Making of Behavioral Economics" by Richard Thaler explores the development of behavioral economics as a discipline that challenges traditional economic theories based on the assumption of human rationality. Thaler shares his experiences and research, demonstrating how real human deviations from rationality affect economic decisions. He describes key experiments and discoveries that led to the recognition of behavioral economics and explains how these ideas can be applied to improve policy and business. The book combines scientific research with personal anecdotes, making complex concepts accessible to a broad audience.