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A review by sharrypdx
Misbehaving: The Making of Behavioral Economics by Richard H. Thaler
5.0
An introduction to Behavioral Economics by one one the people who helped create the discipline. This book accounts the making of Behavioral Economics. Very interesting.
His distinction between “Econs” and “Humans” is insightful. Of course, after many years of my own observation and study, I find it hard to believe that anyone could continue to trust the “invisible hand” theory which relies upon rational agents to make decisions about control of the market. Those theories simply don’t hold up under real conditions.
His distinction between “Econs” and “Humans” is insightful. Of course, after many years of my own observation and study, I find it hard to believe that anyone could continue to trust the “invisible hand” theory which relies upon rational agents to make decisions about control of the market. Those theories simply don’t hold up under real conditions.