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Quasi Rational Economics

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  • 389pages
  • 14 heures de lecture

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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.

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Quasi Rational Economics, Richard H. Thaler

Langue
Année de publication
1994
Reliure
(souple)
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Titre
Quasi Rational Economics
Langue
Anglais
Publié
1994
Format
souple
Pages
389
ISBN10
087154847X
ISBN13
9780871548474
Séries
Description
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.