Quasi Rational Economics

Quasi Rational Economics

by Richard H. Thaler
     
 

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… See more details below

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:
9780871548474
Publisher:
Russell Sage Foundation
Publication date:
01/28/1994
Edition description:
Reprint
Pages:
389
Sales rank:
1,052,241
Product dimensions:
6.00(w) x 8.90(h) x 1.10(d)

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