Quasi Rational Economics

Quasi Rational Economics

by Richard H. Thaler
     
 

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ISBN-10: 0871548461

ISBN-13: 9780871548467

Pub. Date: 10/22/1991

Publisher: Russell Sage Foundation

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

Overview

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.

Product Details

ISBN-13:
9780871548467
Publisher:
Russell Sage Foundation
Publication date:
10/22/1991
Pages:
389
Product dimensions:
6.00(w) x 9.00(h) x (d)

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