Sunday, January 31, 2016

Review of Misbehaving The Making of Behavioral Economics By Richard H. Thaler, Instaread summary

Review of
"Misbehaving The Making of Behavioral Economics" By Richard H. Thaler, Instaread summary

 Reading through this summary of “Misbehaving . . . “ I was convinced that I had to read the book. For it appears likely that it will be the best economics book that I have ever read. As a mathematician, I work with equations and have many times read material that uses mathematical formulas to predict human economic behavior. In many ways it is a case of “pure ivory tower,” for humans do not behave rationally. All you have to do is attend an auction to see this in action.
 The author of the summary writes with a very engaging style, it is clear that they understand the underlying economic and psychological behavior of humans regarding their assets. No one assigns value to their money and possessions based on the specific monetary value. I have witnessed siblings easily distributing items of high value and then bitterly arguing over items of little monetary value. That is just the way things are. 

This book was made available for free for review purposes

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