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| #1311450 in Books | 1994-01-04 | Original language:English | PDF # 1 | 9.00 x1.10 x6.00l,1.28 | File type: PDF | 389 pages||48 of 52 people found the following review helpful.| Technical and somewhat dated, but stilll valuable|By Stephen M. Bainbridge|As with any model claiming predictive power, economics rests on a theory of human behavior-specifically, rational choice theory, which posits decisionmakers who are autonomous individuals who make rational choices that maximize their satisfactions. Critics of economics have long complained that rationa|About the Author|
RICHARD H. THALER is Henrietta Johnson Louis Professor of Economics, and director of the Center for Behavioral Economics and Decision Research, Johnson Graduate School of Management, Cornell University.
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.
You can specify the type of files you want, for your gadget.Quasi Rational Economics | Richard H. Thaler. A good, fresh read, highly recommended.
