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A review by oleksandr
Misbehaving: The Making of Behavioral Economics by Richard H. Thaler
5.0
This is simultaneously an autobiography of Richard H. Thaler and a history of modern behavioral science. The author was one of the early adopters of the idea, so he can supply a great inside view. At the same time he remains an academic economist, thus he doesn’t bash aimlessly modern mainstream economics but shows where and when its assumptions about rationality may be wrong.
The story starts from early works by Kahneman-Tversky, moves through academia and finishes in practical implementation of behavioral insights in Britain. The list of studies and examples is largely known to readers of Nudge or Predictably Irrational, however it is more tightly interwoven into the single narrative.
Recommended read for anyone, especially non-economists, who are interested in why often people at seemingly irrationally.
The story starts from early works by Kahneman-Tversky, moves through academia and finishes in practical implementation of behavioral insights in Britain. The list of studies and examples is largely known to readers of Nudge or Predictably Irrational, however it is more tightly interwoven into the single narrative.
Recommended read for anyone, especially non-economists, who are interested in why often people at seemingly irrationally.