Quasi Rational Economics
| Author | : Richard H. Thaler |
| Publisher | : Russell Sage Foundation |
| Total Pages | : 396 |
| Release | : 1994-01-04 |
| ISBN-10 | : 087154847X |
| ISBN-13 | : 9780871548474 |
| Rating | : 4/5 (474 Downloads) |
Book Synopsis Quasi Rational Economics by : Richard H. Thaler
Download or read book Quasi Rational Economics written by Richard H. Thaler and published by Russell Sage Foundation. This book was released on 1994-01-04 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 that color all human judgments and decisions.
