Richard H. Thaler

From the winner of the 2017 Nobel Prize in Economics, Richard H. Thaler, and Cass R. Sunstein: a revelatory look at how we make decisionsNew York Times bestsellerNamed a Best Book of the Year by The Economist and the Financial Times Every day we make choices—about what to buy or eat, about financial investments or our children’s health and education, even about the causes we champion or the planet itself. Unfortunately, we often choose poorly. Nudge is about how we make these choices and how we can make better ones. Using dozens of eye-opening examples and drawing on decades of behavioral science research, Nobel Prize winner Richard H. Thaler and Harvard Law School professor Cass R. Sunstein show that no choice is ever presented to us in a neutral way, and that we are all susceptible to biases that can lead us to make bad decisions. But by knowing how people think, we can use sensible “choice architecture” to nudge people toward the best decisions for ourselves, our families, and our society, without restricting our freedom of choice.

Nobel laureate Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world.Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments.Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber.Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining.

Explore the groundbreaking intersection of economics and psychology with Nobel Prize winner Richard Thaler and esteemed economist Alex Imas in this fully updated edition of The Winner’s Curse, a seminal work in behavioral economics.The book that helped give rise to behavioral economics, now revisited and fully updated thirty years later by Nobel Prize–winning economist and bestselling author Richard H. Thaler and University of Chicago economist Alex Imas. The Winner’s Curse provocatively challenges the assumption that economics makes about how we live and make financial decisions, now updated with over 50% new material. For decades, economics has operated under the assumption that individuals make rational choices, driven by self-interest and consistent preferences. Yet, as Thaler and Imas illustrate, the real world is rife with anomalies—instances where human behavior defies these rational expectations. The Winner’s Curse delves into these economic paradoxes, offering a fresh perspective on how and why these anomalies occur and how they have given rise to the field of behavioral economics. With contributions from luminaries like Daniel Kahneman and George Loewenstein, this edition expands on the original insights. You will discover how these economic anomalies persist in modern times, influencing everything from consumer behavior to financial markets making it an essential read for anyone interested in understanding the true nature of decision-making in today’s economy.

Richard Thaler challenges the received economic wisdom by revealing many of the paradoxes that abound even in the most painstakingly constructed transactions. He presents literate, challenging, and often funny examples of such anomalies as why the winners at auctions are often the real losers--they pay too much and suffer the "winner's curse"-- why gamblers bet on long shots at the end of a losing day, why shoppers will save on one appliance only to pass up the identical savings on another, and why sports fans who wouldn't pay more than $200 for a Super Bowl ticket wouldn't sell one they own for less than $400. He also demonstrates that markets do not always operate with the traplike efficiency we impute to them.

Standard economics theory is built on the assumption that human beings act rationally in their own self interest. But if rationality is such a reliable factor, why do economic models so often fail to predict market behavior accurately? According to Richard Thaler, the shortcomings of the standard approach arise from its failure to take into account systematic mental biases that color all human judgments and decisions.

Please Note That The Following Individual Books As Per Original ISBN and Cover Image In this Listing shall be Dispatched Richard H Thaler Collection 2 Books Misbehaving The Making of Behavioural Misbehaving is an irreverent and enlightening look into human foibles. Traditional economics assumes that rational forces shape everything. Behavioural economics knows better. Richard Thaler has spent his career studying the notion that humans are central to the economy - and that we're error-prone individuals, not Spock-like automatons. Now behavioural economics is hugely influential, changing the way we think not just about money, but about ourselves, our world and all kinds of everyday decisions.Whether buying an alarm clock, selling football tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. Nudge Improving Decisions About Health Wealth and Nudge is about choices - how we make them and how we can make better ones. Every day we make about the things that we buy or the meals we eat; about the investments we make or our children's health and education; even the causes that we champion or the planet itself. Unfortunately, we often choose poorly. We are all susceptible to biases that can lead us to make bad decisions. And, as Thaler and Sunstein show, no choice is ever presented to us in a neutral way. By knowing how people think, we can make it easier for them to choose what is best for them, their families and society. Using dozens of eye-opening examples and original research, the authors demonstrate how to nudge us in the right directions, without restricting our freedom of choice.

Please Note That The Following Individual Books As Per Original ISBN and Cover Image In this Listing shall be Dispatched Collectively: Nudge, Misbehaving, Thinking, Fast and Slow 3 Books Collection Set: Nudge: Nudge is about choices - how we make them and how we can make better ones. Every day we make decisions: about the things that we buy or the meals we eat; about the investments we make or our children's health and education Misbehaving: From the renowned and entertaining behavioural economist and co-author of the seminal work Nudge, Misbehaving is an irreverent and enlightening look into human foibles. Traditional economics assumes that rational forces shape everything. Thinking, Fast and Slow: Why is there more chance we'll believe something if it's in a bold type face? Why are judges more likely to deny parole before lunch? Why do we assume a good-looking person will be more competent? The answer lies in the two ways we make choices.

Nudge: Improving Decisions About Health, Wealth and Happiness: Nudge is about choices - how we make them and how we can make better ones. Every day we make decisions: about the things that we buy or the meals we eat; about the investments we make or our children's health and education; even the causes that we champion or the planet itself. Unfortunately, we often choose poorly. We are all susceptible to biases that can lead us to make bad decisions. And, as Thaler and Sunstein show, no choice is ever presented to us in a neutral way. By knowing how people think, we can make it easier for them to choose what is best for them, their families and society. Using dozens of eye-opening examples and original research, the authors demonstrate how to nudge us in the right directions, without restricting our freedom of choice. Misbehaving: The Making of Behavioural Economics: From the renowned and entertaining behavioural economist and co-author of the seminal work Nudge, Misbehaving is an irreverent and enlightening look into human foibles. Traditional economics assumes that rational forces shape everything. Behavioural economics knows better. Richard Thaler has spent his career studying the notion that humans are central to the economy - and that we're error-prone individuals, not Spock-like automatons. Now behavioural economics is hugely influential, changing the way we think not just about money, but about ourselves, our world and all kinds of everyday decisions. How To Be F*cking Awesome: If you've been looking for a kick up the backside to finally launch that business, start a new project you've been putting off or just become all round awesome, this book is for you. Why do some people have an awesome life, plenty of money, amazing friends and a business to love.

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