Econs vs. Humans: Which Are We? Book Review of Misbehaving: The Making of Behavioral Economics by Richard H. Thaler

Len Tashman

Foresight: The International Journal of Applied Forecasting, 2016, issue 41, 4-6

Abstract: Editor and reviewer Tashman writes, ÒMisbehaving is a wonderfully entertaining account of Richard ThalerÕs four-decade-long journey to convince fellow economists that they canÕt ignore the human element of decision making Ð that there are just too many behavioral anomalies that are unexplainable by the standard economic theory.Ó These include several SIFs (seemingly irrelevant factors), like will power, endowments, inertia, and hindsight bias. These and others are explained in the review. Copyright International Institute of Forecasters, 2016

Date: 2016
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