Misbehaving

Misbehaving

Blog1
Many years ago I listened to the advice of Barack Obama which is - "Read the book of Nobel laureates." In other words, books about economics, physics, and also literature. Richard Thaler won the Nobel Prize for his research in the field of economics. His book is entitled "Misbehaving". Richard Thaler is one of the founders of Behavioral Economics research field and a professor at Business School of the University of Chicago. In my opinion, the last several Nobel laureates in economics are geniuses of simplicity and originality.  They no longer look at the economy in terms of capital or GDP, they are above that. Thaler's work shows that assuming that people are predictably irrational is the most rational approach to studying their behavior. Here is my attempt to overview a book…
Read More