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Quasi Rational Economics

paperback – January 4, 1994
by Thaler, Richard H.
$38.52 USD
$38.52 USD
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ISBN-13: 9780871548474 ISBN-10: 087154847X
Publisher
Russell Sage Foundation
Binding
paperback
Published
January 4, 1994
Weight
1.3 lbs
Dimensions
22.90×2.50×15.20 cm

About this book

Quasi Rational Economics by Thaler, Richard H.. paperback edition. ISBN: 9780871548474.

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.