Quasirational Economics (Paperback, New edition)


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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Product Description

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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Product Details

General

Imprint

Russell Sage Foundation

Country of origin

United States

Release date

1994

Availability

Supplier out of stock. If you add this item to your wish list we will let you know when it becomes available.

First published

1994

Authors

Dimensions

230 x 153 x 30mm (L x W x T)

Format

Paperback

Pages

416

Edition

New edition

ISBN-13

978-0-87154-847-4

Barcode

9780871548474

Categories

LSN

0-87154-847-X



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