Economics

Misbehaving: The Making of Behavioral Economics

Misbehaving: The Making of Behavioral Economics

  • Downloads：7481
  • Type：Epub+TxT+PDF+Mobi
  • Create Date：2021-12-30 09:51:18
  • Update Date：2025-09-06
  • Status：finish
  • Author：Richard H. Thaler
  • ISBN：039335279X
  • Environment：PC/Android/iPhone/iPad/Kindle
  • Download

Summary

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。

Download

Reviews

Umesh ，

Awesome read， very light read with profound impact。 In the end book became little drag n this lost out on my 5 star rating。

Davied Lubinson ，

（Listening Lengtht13 hours and 35 minutes）

Alex ，

a pleasant and enjoyable introduction to behavioral economics through the lens of thaler's career。 perhaps the most interesting part of the whole book is how other economists perceived the behavioral program to be threatening to the larger neoliberal project and vehemently protested as a result a pleasant and enjoyable introduction to behavioral economics through the lens of thaler's career。 perhaps the most interesting part of the whole book is how other economists perceived the behavioral program to be threatening to the larger neoliberal project and vehemently protested as a result 。。。more

Minh Nguyen ，

Psychologist v。s。 Economist？ Economists think that Psychologists only study rats， pigeons and crazy people。 Psychologists may say that Economists replace human beings with a fictional model called homo economicus。 It is just a joke！In this book， Thaler started with a list of “dumb stuff people do” which from the perspectives of economists （which he calls Econ） are misbehaving。 For example， Jeffrey got a FREE ticket to a professional baseball game。 On the day of the game there is a big snowstorm。 Psychologist v。s。 Economist？ Economists think that Psychologists only study rats， pigeons and crazy people。 Psychologists may say that Economists replace human beings with a fictional model called homo economicus。 It is just a joke！In this book， Thaler started with a list of “dumb stuff people do” which from the perspectives of economists （which he calls Econ） are misbehaving。 For example， Jeffrey got a FREE ticket to a professional baseball game。 On the day of the game there is a big snowstorm。 He decided not to go， but remarks that if he had bought the （expensive） ticket， he would have braved the blizzard and attempted to drive to the game。 Thaler guides us through a long journey he has gone through to invent this new field of economics， Behavioral Economics。 The most important insights in Behavioral Economics are covered in this book with vivid stories behind those findings。I enjoyed reading this book for two reasons。 The first one is that this book is just simply a very intellectual and insightful book。 The second is that this book reminds me of a heated debate between research students in my laboratory who chose an agent-based approach and the laboratory next door who use economics models。Richard H。 Thaler is the 2017 recipient of the Nobel Memorial Prize in Economic Sciences for his contributions to behavioral economics。 Thaler studies behavioral economics and finance as well as the psychology of decision-making which lies in the gap between economics and psychology。Thaler’s talk at Google can be watched on YouTube 。 Enjoy watching the video！ 。。。more

Jonathan ，

It’s great and everybody should read it。 Put it in the category of “stuff you think you know but you really don’t。” Thaler writes his own academic biography as a discussion and peeling back the assumptions surrounding contemporary economics。What I love most about this book is how it pushes back against both the “gut feel” brains and the “purely analytical” brains equally。 There’s a healthy dose of pragmatism that drove Thaler through his career and it caused all sorts of troubles for him。 In a b It’s great and everybody should read it。 Put it in the category of “stuff you think you know but you really don’t。” Thaler writes his own academic biography as a discussion and peeling back the assumptions surrounding contemporary economics。What I love most about this book is how it pushes back against both the “gut feel” brains and the “purely analytical” brains equally。 There’s a healthy dose of pragmatism that drove Thaler through his career and it caused all sorts of troubles for him。 In a business world that is increasingly dependent on “data for datas sake” with little interest in the practical path forward， Thaler’s examination in how to influence and identify experiments that have high impact through pragmatic observation。I appreciate his anomalies and the introduction to his career。 Plus the book is a great read， he’s definitely not as funny as he thinks he is， but he’s still got some charm。 。。。more

Debbie Cranberryfries ，

Some of this was fascinating。 Much of it I trudged through。

Malik Nazahim ，

I might focus on pursuing a career in behavioural economics。

Thomas Neyland ，

Had to read this one for my behavioral finance class。 I enjoyed it。 It was approachable and I liked that it went about the field of behavioral economics narratively。 Some chapters were very good （mental accounting， football， rule of one price） but others dragged a bit。

VaduHaigarson ，

Kahnemanin teos samasta aiheesta parempi

Sean Wiseman ，

Great introduction to behavioral economics。 There are certainly a few "dry" parts， but， for the most part， this is quite an engaging read。 Great introduction to behavioral economics。 There are certainly a few "dry" parts， but， for the most part， this is quite an engaging read。 。。。more

Justohidalgo ，

While this is。 It a book to learn more about Behavioral Economics and the work Thaler， Sunstein or Kahneman have achieved in the last forty years， it is the best book I’ve read that explains HOW this new economics category was built。 Since the humble start based on musings on how people ate cashew nuts at a party， to the Nobel prizes。 Amazing journey。

Anna ，

The story of Thaler's research and career。 I enjoyed some of the parts where he described his research findings， but I found I had little buy in to the lists of the people he worked with or dramas from the field of economics。 The story of Thaler's research and career。 I enjoyed some of the parts where he described his research findings， but I found I had little buy in to the lists of the people he worked with or dramas from the field of economics。 。。。more

Ricardo Sarmento ，

Its a bit dense， but there are great stories， funny ones。 I definitely recommend This book。

Ryan Lee ，

Yay behavioural economics

Levy ，

How ironic that one of the most important figures in economics， has been fighting the chicago school of economics for decades， from an academic position at Chicago university。 Misbehaving is an absolute gem， the economic textbook you wish you had。 Thaler has restored my faith in the discipline of economics， which i had grown somewhat sceptical of。 It takes a really good writer to turn a history of an academic discipline into a populared book on economics。 Humor， great stories， and good ideas are How ironic that one of the most important figures in economics， has been fighting the chicago school of economics for decades， from an academic position at Chicago university。 Misbehaving is an absolute gem， the economic textbook you wish you had。 Thaler has restored my faith in the discipline of economics， which i had grown somewhat sceptical of。 It takes a really good writer to turn a history of an academic discipline into a populared book on economics。 Humor， great stories， and good ideas are exactly why he succeeded in that。 。。。more

Ben ，

I had to read this book for class （Behavioral Economics）。 In general I think that popular social science books straddle a tough line between making research understandable and oversimplifying a concept （I tend to think they spend too much time oversimplifying）。 I thought Thaler gave a good high level summary of a lot of his research including mental accounts， prospect theory， aspects of behavior finance， and nudges。 I particularly like that he split the book into many chapters that alternated be I had to read this book for class （Behavioral Economics）。 In general I think that popular social science books straddle a tough line between making research understandable and oversimplifying a concept （I tend to think they spend too much time oversimplifying）。 I thought Thaler gave a good high level summary of a lot of his research including mental accounts， prospect theory， aspects of behavior finance， and nudges。 I particularly like that he split the book into many chapters that alternated between descriptions of his research， an overview of his career， and fun anecdotes。 It's better than trying to make larger narrative points （in fact the part of the book I was least interested in was the grand narrative about the path of behavioral econ as a field）。 I'm somewhat tempted to read Nudge now。 I'm mostly impressed by the breadth of Thaler's research - everything from applied psychology， to sports drafts， to finance。 。。。more

Syed Muzammil ，

A great history of the making of the behavioral economics discipline。

Mangku Parasdyo ，

Tak seperti Daniel Kahneman yang memiliki latar belakang Psikologi， Thaler memiliki latar belakang Ekonomi yang kemudian belajar tentang perilaku， suatu hal yang sangat langka pada masanya。 Richard Thaler adalah murid awal ekonomi perilaku yang kemudian menjadi salah satu figur autoritatif dalam ekonomi perilaku。 Aku membaca buku ini sambil membayangkan Richard Thaler sedang memberikan semacam orasi ilmiah untuk peringatan dies natalis fakultas Ekonomi jurusan Ekonomi Perilaku （sebuah orasi yang Tak seperti Daniel Kahneman yang memiliki latar belakang Psikologi， Thaler memiliki latar belakang Ekonomi yang kemudian belajar tentang perilaku， suatu hal yang sangat langka pada masanya。 Richard Thaler adalah murid awal ekonomi perilaku yang kemudian menjadi salah satu figur autoritatif dalam ekonomi perilaku。 Aku membaca buku ini sambil membayangkan Richard Thaler sedang memberikan semacam orasi ilmiah untuk peringatan dies natalis fakultas Ekonomi jurusan Ekonomi Perilaku （sebuah orasi yang sangat amat panjang tentunya）。 Biasanya dalam acara tersebut pembicara akan menjabarkan sejarah perkembangan keilmuan mulai dari masa lalu， masa kini， serta harapannya dimasa mendatang。 Orator tentunya perlu menegaskan kembali dasar-dasar ontologi dan epistemologi mengapa subjek yang dipelajari termasuk ilmu yang penting dan perlu dipelajari。 Tentunya karena ini adalah acara dies natalis yang dihadiri civitas akademika dan tamu undangan， cerita-cerita personal， anekdot， serta peristiwa-peristiwa bersejarah atau menarik yang berkaitan akan diselipkan sepanjang orasi。Kurang lebih seperti itulah isi buku Misbehaving: Terbentuknya Ekonomi Perilaku。 Buku ini terdiri atas 8 bab yang disusun secara kronologis berdasarkan perjalanan karir akademik Richard Thaler sebagai murid awal hingga menjadi figur autoritatif ekonomi perilaku。 Penyusunan secara kronologis ini memudahkan pembaca awam memahami bagaimana ekonomi perilaku berkembang。 Studi kasus yang diangkat dalam buku ini lumayan menarik。 Tesis pascasarjana Thaler adalah tentang menilai harga sebuah nyawa， caranya adalah mengajukan 2 pertanyaan mengenai kesediaan orang untuk membayar obat jika terkena penyakit dan berapa ganti rugi yang ingin diterima jika terkena penyakit， disini Thaler hanya mengikuti kaidah negasi dalam logika sains， simpulan yang didapat sangat menarik orang hanya mau bayar sedikit untuk obat yang menyelamatkan nyawanya， namun minta bayaran yang besar apabila ia beresiko terkena penyakit mematikan。 Padahal menurut ekonomi tradisional harga yang diminta harusnya sama。 Pembuatan model pasar lewat jual beli Mug Kampus juga menarik， karena prediksi ekonomi dengan sangat yakin bisa memprediksi berapa jumlah transaksi yang akan berlangsung dan pertukaran yang terjadi， namun beberapa mahasiswa pascasarjana yang jadi peserta justru lebih tertarik terhadap mug nya ketimbang transaksinya sehingga transaksi dan pertukaran tidak sesuai dengan model prediksi。 Permainan tahanan， adalah bentuk yang terus menerus muncul dalam berbagai variasi dibuku ini。 Pemodelan yang dibangun dalam penelitian Ekonomi Perilaku ini menurutku lumayan kreatif， meskipun penulisnya sendiri mengakui sulit sekali merancang model yang paten untuk mengisolasi fenomena yang diamati dari berbagai eksternalitas。 Kesimpulan yang didapat dari berbagai penelitian awal ekonomi perilaku adalah asimetri， hanya saja menurutku asimetri di ilmu sosial seharusnya lebih wajar sebab modelnya cenderung sengkarut （chaos） dibandingkan model ilmu alam。 Selain itu aku sendiri masih sangat asing dengan metodologi penelitian di bidang sosial dan aku punya skeptisisme yang besar terhadap hasil analisis yang diperoleh dari kuesioner dan jawaban-jawaban dari pertanyaan hipotetikal。Bagiku bab yang paling menarik dalam buku ini adalah bab V， berkisar pada tahun 1986-94 dimana Ekonomi Perilaku mulai mendapatkan perhatian dari ahli Ekonomi Tradisional yang rata-rata penerima nobel， perdebatannya dibahas secara baik dan seru， menyajikan diskursus ekonomi tradisional dan ekonomi perilaku。 Jika model Ekonomi perilaku yang dikembangkan di laboratorium membuatku skeptis， namun pengaplikasian Ekonomi perilaku dikehidupan sehari-hari ternyata sangat menarik。 Misalnya tentang salah harga 3com dan palm yang terjadi sangat lama， ketika orang-orang tahu itu salah harga malah beberapa malah memanfaatkannya sebagai arbitrase。 Konsep tentang apakah harga sebuah barang atau jasa itu adil dikehidupan sehari-hari ternyata sangat bergantung pada konteksnya。 Bagaimana "nudge" membuat orang menabung untuk hari tua， meningkatkan rasio pembayaran pajak， dan tingkat donor organ sangatlah menarik。 Buku ini memberikan pembahasan menyeluruh mengenai perkembangan Ekonomi Perilaku sebagai bidang studi， karena terbit pada tahun 2016， ada satu peristiwa penting untuk Ekonomi Perilaku yang tidak masuk， yaitu ketika Richard Thaler menerima hadiah Nobel Ekonomi di tahun 2017。 Secara keseluruhan buku ini menarik untuk dibaca serta memberikan banyak tambahan informasi baru。 Aku membaca buku ini secara pararel dengan Gen: Perjalanan Menuju Pusat Kehidupan。 Daniel Kahneman， Amos Tversky dan Richard Thaler bisa dikatakan seperti Jean-Baptiste Lamarck， Alfred Russel Wallace， dan Charles Darwin nya Ekonomi Perilaku tapi mereka masih belum menemukan Gregor Mendel。 Ekonomi perilaku mungkin sadar adanya ketidaksinkronan antara teori tradisional dengan perilaku dikehidupan sehari-hari namun belum mempunyai mekanisme atau model yang bisa memprediksi krisis ekonomi dan finansial atau bahkan sekedar memprediksi kapan suatu buble akan muncul dan pecah。 Ekonomi Perilaku masih sangat mungkin untuk berkembang di masa mendatang。 。。。more

Marius Zaharia ，

It has some very interesting insights， but it they could have been summarized in 2 hours of reading， leaving aside all the history of research that lead the author to those insights， and which is only interesting or relevant if you yourself are a researcher。

Andrzej ，

Przyznam， że liczyłem， że akcent będzie mocniej położony na analizę i opisy "zachowań niepoprawnych"， a nie na historię i rozwój samej dziedziny z punktu widzenia akademickiej kariery autora。 Ale w tych miejscach， gdzie pochyla się on nad meritum i opisuje konkretne analizy przypadków niewątpliwie lektura warta poświęconego czasu。 Przyznam， że liczyłem， że akcent będzie mocniej położony na analizę i opisy "zachowań niepoprawnych"， a nie na historię i rozwój samej dziedziny z punktu widzenia akademickiej kariery autora。 Ale w tych miejscach， gdzie pochyla się on nad meritum i opisuje konkretne analizy przypadków niewątpliwie lektura warta poświęconego czasu。 。。。more

Parsa ，

ریچارد تیلر از نخبگان اقتصادی است که این روزها به سلبریتی جوامع آکادمیک بدل شده。 او در سال 2017 برنده جایزه نوبل شد و با این که در این کتاب به صراحت می گوید که مبدع دانش اقتصاد رفتاری نیست ولی اگر بنا باشد کسی را به عنوان پدر این علم معرفی کنیم، جز او کسی شایسته این عنوان نیست。کتاب مهم او، تلنگر یا سقلمه به تشریح صریح اقتصاد رفتاری می پردازد و بیان می کند که چرا باید در دانسته های افتصادی باید بازاندیشی اساسی صورت داد؛ انسان ها همیشه خردمند و منطقی نیستند، خودمهاری محدودی دارند و امکانات محدودتر ریچارد تیلر از نخبگان اقتصادی است که این روزها به سلبریتی جوامع آکادمیک بدل شده。 او در سال 2017 برنده جایزه نوبل شد و با این که در این کتاب به صراحت می گوید که مبدع دانش اقتصاد رفتاری نیست ولی اگر بنا باشد کسی را به عنوان پدر این علم معرفی کنیم، جز او کسی شایسته این عنوان نیست。کتاب مهم او، تلنگر یا سقلمه به تشریح صریح اقتصاد رفتاری می پردازد و بیان می کند که چرا باید در دانسته های افتصادی باید بازاندیشی اساسی صورت داد؛ انسان ها همیشه خردمند و منطقی نیستند، خودمهاری محدودی دارند و امکانات محدودتر。 اما در این کتاب او درباره تاریخ شکل گیری اقتصاد رفتاری صحبت می کند。 روایتی خواندنی همراه با چاشنی طنز و قصه گویی تیلر که در ترجمه به خوبی این طنز منتقل شده است。کتاب برای کسانی که مطالعات اقتصادی دارند قطعا مفید و خواندنی خواهد بود。 البته که لحن آن ساده و برای مخاطب عام نوشته شده که نیازی به دانستن پیش فرض های اساسی اقتصادی ندارد。 چیزی که برای من جالب بود شبکه ارتباطی اساتید و شکل گیری رشته های مدرن علم با عنوان بین رشته ای بود که در این کتاب مکررا بحث می شود。 。。。more

Divo ，

Highly recommended if you studied economics at university。

Patricia Nascimento ，

A great biographical book made through scientific papers of the author。 Explains complex and interesting theories in a very natural way。 You don’t realize you are learning economics and even challenging the status quo of conservative economics。 Awesome piece of literature！ Wanna read it all again soon。 Learnt so much in a fun and natural way。

Mikhail Filatov ，

This book for me， as a history/biography lover is more interesting than "Nudge"。 Thaler comes to "Nudge" topics at the end， but most of the book is a mix of his autobiography and different subjects of behahioral Economics。 It's quite funny to watch his hatred toward some economists， like Eugen Fama， who got his "Nobel" （btw， good example of framing - calling a completely different prize "Nobel"） prize in Economics in 2013， just before this book was written。 He dedicates several chapters to marke This book for me， as a history/biography lover is more interesting than "Nudge"。 Thaler comes to "Nudge" topics at the end， but most of the book is a mix of his autobiography and different subjects of behahioral Economics。 It's quite funny to watch his hatred toward some economists， like Eugen Fama， who got his "Nobel" （btw， good example of framing - calling a completely different prize "Nobel"） prize in Economics in 2013， just before this book was written。 He dedicates several chapters to market price anomalies， considers "behavioral finance" as a big success in Conclusion。。。 but accepts at one place， that there is no behavioral theory of markets。 That's the biggest issue with "behavioral economics" - a lot of anomalies， tests， books。。。but no theories。 。。。more

TK ，

A book detailing Thaler’s academic life and how behavioural economics came to where it is as he sees it。 Unfortunately， not a gripping book and Thaler comes out sounding a bit arrogant。

Simon Hohenadl ，

Too much history of science and personal accounts for me。

Enjo Faes ，

Very nice review of Thaler of numerous subjects in the field of economics。

Nemo ，

Exceeding my expectations。 I expect it to be a textbook style writing， but it has a lot of fun stories about the author's experience in the academic circles， esp how the different economists attacking each other like dog flighting， and how professors in Chicago flighting for their new office rooms in a way even lower than dogs。 Wow， I definitely won't want my kids to have a career in academic circle。 Read just like the American version of Wei Cheng。 The various experiments and effects in behavio Exceeding my expectations。 I expect it to be a textbook style writing， but it has a lot of fun stories about the author's experience in the academic circles， esp how the different economists attacking each other like dog flighting， and how professors in Chicago flighting for their new office rooms in a way even lower than dogs。 Wow， I definitely won't want my kids to have a career in academic circle。 Read just like the American version of Wei Cheng。 The various experiments and effects in behavioral economics written in the book are pretty familiar to me from a lot of previous reading such as Thinking Fast Slow and also from his Nudge。 So it doesn't teach me something new， just a review of old knowledge。 However， I like his story telling style and his skills of using simple vocabulary to explain complicated things。 。。。more

Mr R ，

A personal History of Behavioral Economics。 I enjoyed this， and as policy tools I had come across before， I have a passing familiarity with the content。 Particularly found the end of the book useful， about how it came to be employed by HMG。 Not reccomend if you you primarily want to learn about the subject matter。

Kurt Jensen ，

I find Thaler absolutely delightful。 He is modest and funny yet hugely impactful - and this book is truly well-written。 Having previously read Nudge—nothing here is entirely groundbreaking to me， but it’s packaged very well with memorable insights and stories and strong conclusions that actually follow from them。

Reference

google book https://www.google.com/search?tbm=bks&q=Misbehaving: The Making of Behavioral Economics

hathitrust digital library https://babel.hathitrust.org/cgi/ls?q1=Misbehaving: The Making of Behavioral Economics&field1=ocr&a=srchls&ft=ft&lmt=ft

The British Library https://bll01.primo.exlibrisgroup.com/discovery/search?query=any,contains,Misbehaving: The Making of Behavioral Economics&tab=LibraryCatalog&search_scope=Not_BL_Suppress&vid=44BL_INST:BLL01&lang=en&offset=0