Misbehaving: The Making of Behavioral Economics

Questions About Misbehaving: The Making of Behavioral Economics

by Richard H. Thaler

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Hi, might I ask, as I have not read the book. Does the auther leave us with clear response on Economic model or direction the world should follow? Best regards, Helder Lamarque.
David Rubenstein The book does not provide a specific set of rules for behavior, formulations for policy, or new economic theory. Without speaking for Thaler, his book…moreThe book does not provide a specific set of rules for behavior, formulations for policy, or new economic theory. Without speaking for Thaler, his book teaches that humans are unlikely to act consistently by making rational and accurate decisions about what is in their economic best interest.

Economic theory, government policy, and private activity should take into account likely divergence from assumptions of rational behavior, and each should be aware of the predictable (and even less predictable) ways in which humans often act from instinct and unconscious bias rather than from logical analysis.(less)
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