Quasi Rational Economics
Standard economics theory is built on the assumption that human beings act rationally in their own self interest. But if rationality is such a reliable factor, why do economic models so often fail to predict market behavior accurately? According to Richard Thaler, the shortcomings of the standard approach arise from its failure to take into account systematic mental biases...more
Hardcover, 392 pages
Published October 22nd 1991 by Russell Sage Foundation Publications
(first published January 1st 1991)
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