''Misbehaving: The Making of Behavioral Economics'' is a book by Richard Thaler, economist and professor at the

University of Chicago The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park neighborhood. The University of Chicago is consistently ranked among the b ...

's Booth School of Business. He won the

Nobel Prize for Economics The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...

in 2017. The book builds on Thaler's work as a

behavioral economist Behavioral economics studies the effects of Psychology, psychological, cognitive bias, cognitive, emotional, cultural and social factors on the decision making, decisions of individuals or institutions, such as how those decisions vary from t ...

in trying to present an alternate view point that humans bring along behavioral biases, are error prone, and are not always rational. This view point builds on his work from his previous book, '' Nudge'', published in 2008. Thaler ties this to the effect on markets, which are otherwise expected to be efficient. Thaler uses the book to talk to readers about how behavioral economic analysis can help look at areas ranging from household finance, to TV shows,

National Football League Draft The National Football League Draft, also called the NFL Draft or (officially) the Player Selection Meeting, is an annual event which serves as the league's most common source of player recruitment. Each team is given a position in the drafting o ...

s and emerging disruptive businesses like

Uber Uber Technologies, Inc. (Uber), based in San Francisco, provides mobility as a service, ride-hailing (allowing users to book a car and driver to transport them in a way similar to a taxi), food delivery (Uber Eats and Postmates), package ...

, in a new light.

References

2015 non-fiction books Business books Economics books W. W. Norton & Company books {{econ-book-stub