Misbehaving: The Making of Behavioral Economics

Misbehaving chronicles the development of behavioral economics, a field that challenges the traditional economic assumption that humans are perfectly rational actors. Richard H. Thaler, a pioneer in this discipline, shares his journey of integrating psychology with economics to better understand real-world decision-making.

The book explores how people often 'misbehave' by making choices that deviate from classical economic predictions. Thaler illustrates these insights with engaging anecdotes and experiments, demonstrating how incorporating human quirks leads to improved economic models and policies.

Through a mix of personal stories and academic breakthroughs, Misbehaving reveals the struggles and triumphs of establishing behavioral economics as a respected field. It highlights the practical implications of this approach, from finance to public policy, reshaping how economists and policymakers view human behavior.