Quasirational Economics

Quasirational Economics

By (author) Richard H. Thaler


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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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  • Paperback | 416 pages
  • 154.94 x 223.52 x 27.94mm | 589.67g
  • 04 Jan 1994
  • Russell Sage Foundation
  • New York
  • English
  • New edition
  • New edition
  • 087154847X
  • 9780871548474
  • 723,636

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Author Information

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."

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