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Summary of Misbehaving: by Richard H. Thaler | Includes Analysis
Summary of Misbehaving by Richard H. Thaler | Includes Analysis
Preview :
The Making of Behavioral Economics is an introduction to behavioral economics and an account of Richard H. Thaler’s role in developing and popularizing the field.
The traditional economic theory of the 1970s presumed that people made economic decisions rationally. In this economic vision, rational individuals—or Econs, as Thaler calls them—know what they want, and they know how much they value the things they want…
PLEASE This is key takeaways and analysis of the book and NOT the original book.
Inside this Instaread of
About the Author
With Instaread, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.
Preview :
The Making of Behavioral Economics is an introduction to behavioral economics and an account of Richard H. Thaler’s role in developing and popularizing the field.
The traditional economic theory of the 1970s presumed that people made economic decisions rationally. In this economic vision, rational individuals—or Econs, as Thaler calls them—know what they want, and they know how much they value the things they want…
PLEASE This is key takeaways and analysis of the book and NOT the original book.
Inside this Instaread of
About the Author
With Instaread, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.
- GenresAudiobook
30 pages, Kindle Edition
Published May 16, 2016
3 people are currently reading
44 people want to read
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Displaying 1 - 4 of 4 reviews
January 24, 2016
If you’ve ever heard of the trickle-down theory of economics; the fairly discredited theory that subsidies for the rich increase investment and production and the benefits trickle down to the rest of us, when you read Misbehavior by Richard H. Thaler, you’ll understand why it was discredited. While many economists believe that people in economic systems act rationally, or when they act irrationally the systems self-correct and follow predictable patterns, Thaler holds that people are inherently irrational and often act in ways that traditional economics cannot predict. In the 1970s he developed the theory of behavioral economics to include the human element in economic theorizing, predicting, and hopefully, planning.
While Thaler’s book is a most worthwhile read, before plunking down the money for it you might want to check out Instaread’s Key Takeaways & Analysis of Misbehaving: The Making of Behavioral Economics by Richard H. Thaler. This is an excellent overview of the key points of Thaler’s book complete with an analysis of the author’s style and credentials. Reading this alone will give you a better understanding of economics and just might make you want to read the full book.
While Thaler’s book is a most worthwhile read, before plunking down the money for it you might want to check out Instaread’s Key Takeaways & Analysis of Misbehaving: The Making of Behavioral Economics by Richard H. Thaler. This is an excellent overview of the key points of Thaler’s book complete with an analysis of the author’s style and credentials. Reading this alone will give you a better understanding of economics and just might make you want to read the full book.
February 1, 2016
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
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
July 21, 2016
"Misbehaving: The Making of Behavioral Economics" by Richard Thaler is an economic textbook that introduces a new field of study that examines how people behave irrationally. Since the 70's, the traditional economic theory claims that people made rational economic decisions. But Thaler explains that we are all human, and while we think we are rational, we are not.
This Instaread summary was a lot of fun to read. While I'm usually put to sleep by economics because it goes over my head, this review of Thaler's book was so short, so simple, and so easy to read that I was able to actually enjoy it. Instaread distills the 9 most important elements from "Misbehaving" and turns these highlights into short chapters. These key takeaways are so simple and they just make sense (like people hate losing money more than gaining money, people don't exercise self-control when making decisions, and loss aversion can cause businesses to be too risk averse). I was given a copy of this book to review.
This Instaread summary was a lot of fun to read. While I'm usually put to sleep by economics because it goes over my head, this review of Thaler's book was so short, so simple, and so easy to read that I was able to actually enjoy it. Instaread distills the 9 most important elements from "Misbehaving" and turns these highlights into short chapters. These key takeaways are so simple and they just make sense (like people hate losing money more than gaining money, people don't exercise self-control when making decisions, and loss aversion can cause businesses to be too risk averse). I was given a copy of this book to review.
February 24, 2016
I enjoy reading on economic theory, and this summary of Thaler's "Misbehaving" did not disappoint! The book discusses the differences between traditional economic theory and behavioral economics and is divided into nine key takeaways. The problem with traditional economic theory is that it assumes humans are rational thinkers. For instance, key takeaway five explains that people hate losing money more than they like gaining money. Traditional economic theory assumes the opposite to be true. In addition to summarizing the book, Instaread also provides information on the author's writing style and perspective. Thanks Instaread!
Displaying 1 - 4 of 4 reviews