Quasirational Economics (Paperback)
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DescriptionStandard 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.
- Published: 04 January 1994
- Format: Paperback 416 pages
- ISBN 13: 9780871548474 ISBN 10: 087154847X
- Sales rank: 719,789
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