Most Popular Books by Richard H. Thaler

Voorlichtingsdeskundige studie over de wijze waarop het grote publiek kan worden gebracht tot het maken van betere en meer verantwoorde keuzes op allerlei gebied.

America’s Riddle King returns with a hilarious and eccentric collection of riddles, jokes, and cartoons about cats of all shapes and sizes. Kids love telling riddles and jokes to their family and friends, and Mike Thaler’s latest collection of unique, cat-themed laughs is sure to add to the fun! Filled with hilarious and unique feline-themed jokes and riddles, Catzilla will bring countless laughs to every gathering. With new and revised content, this collection of cat riddles, jokes, and cartoons is irresistible.

Argues that economical trends cannot be predicted as much as thought, mainly because humans are so unpredictable, and reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building.

Sinopsis Terawangan nakal namun mencerahkan mengenai aneka kekurangan manusia. Ekonomi tradisional menganggap kekuatan rasional mengatur segalanya. Ekonomi perilaku tahu cerita sebenarnya. Richard Thaler telah menghabiskan kariernya mempelajari gagasan bahwa manusia adalah pusat ekonomi—dan bahwa kita tempatnya kesalahan. Ekonomi perilaku kini amat berpengaruh, bukan hanya mengubah cara kita berpikir mengenai uang, melainkan juga diri kita sendiri, dunia kita, dan segala jenis keputusan sehari-hari. Entah itu ketika membeli jam tangan, menjual tiket, atau mengajukan KPR, kita semua mengalami bias dan membuat keputusan yang menyimpang dari standar rasionalitas yang dipakai ahli ekonomi. Dengan kata lain, kita berperilaku keliru. Meski awalnya diremehkan oleh para ahli ekonomi, studi kekeliruan manusia dan pengaruhnya kepada pasar kini mendorong upaya membuat keputusan lebih baik dalam kehidupan, bisnis, dan pemerintahan. Dengan memadukan penemuan terbaru psikologi manusia dan pemahaman praktis mengenai insentif dan perilaku pasar, Thaler memberi pencerahan mengenai bagaimana membuat keputusan lebih cerdas dalam dunia yang semakin membingungkan. Dia mengungkap bagaimana analisis ekonomi perilaku membuka cara-cara baru memandang segalanya, dari keuangan rumah tangga sampai pembagian kantor di gedung baru, acara kuis TV, musim transfer olahraga, dan bisnis seperti Uber. Ketika ekonomi bertemu psikologi, dampaknya bagi individu, manajer, dan pembuat kebijakan sungguh mendalam sekaligus menarik. • • • "Jenius kreatif pencipta bidang ekonomi perilaku yang juga jago bercerita dan sangat lucu. Semua bakat itu ditampilkan di buku mengagumkan dan penting ini." Daniel Kahneman, peraih Hadiah Nobel Ekonomi dan penulis Thinking, Fast and.Slow "Misbehaving memberi kita cerita di balik beberapa wawasan terpenting dalam ekonomi modern. Andai saya mesti terjebak dalam lift bersama seorang inte-lektual zaman sekarang, saya bakal memilih terjebak bersama Richard Thaler." Malcolm Glaciwell "Ahli ekonomi yang menyadari betapa gilanya kita." Michael Lewis, Bloomberg Judul : Misbehaving Rating : umum Penulis : Richard H. Thaler Tebal : 488 halaman Berat : 0,8 kg Format : Soft Cover Tanggal Terbit : 23 Des 2020 Dimensi : 23 x 15 cm

Voorlichtingsdeskundige studie over de wijze waarop het grote publiek kan worden gebracht tot het maken van betere en meer verantwoorde keuzes op allerlei gebied.

Behavioral Economics is the combination of psychology and economics that investigates what happens in markets in which some of the agents display human limitations and complications. We begin with a preliminary question about relevance. Does some combination of market forces, learning and evolution render these human qualities irrelevant? No. Because of limits of arbitrage less than perfect agents survive and influence market outcomes. We then discuss three important ways in which humans deviate from the standard economic model. Bounded rationality reflects the limited cognitive abilities that constrain human problem solving. Bounded willpower captures the fact that people sometimes make choices that are not in their long-run interest. Bounded self-interest incorporates the comforting fact that humans are often willing to sacrifice their own interests to help others. We then illustrate how these concepts can be applied in two settings: finance and savings. Financial markets have greater arbitrage opportunities than other markets, so behavioral factors might be thought to be less important here, but we show that even here the limits of arbitrage create anomalies that the psychology of decision making helps explain. Since saving for retirement requires both complex calculations and willpower, behavioral factors are essential elements of any complete descriptive theory

Recent equity carve-outs in US technology stocks appear to violate a basic premise of financial theory: identical assets have identical prices. In our 1998-2000 sample, holders of a share of company A are expected to receive x shares of company B, but the price of A is less than x times the price of B. A prominent example involves 3Com and Palm. Arbitrage does not eliminate these blatant mispricing due to short sale constraints, so that B is overpriced but expensive or impossible to sell short. Evidence from options prices shows that shorting costs are extremely high, eliminating exploitable arbitrage opportunities

A question of increasing interest to researchers in a variety of fields is whether the incentives and experience present in many "real world" settings mitigate judgment and decision-making biases. To investigate this question, we analyze the decision making of National Football League teams during their annual player draft. This is a domain in which incentives are exceedingly high and the opportunities for learning rich. It is also a domain in which multiple psychological factors suggest teams may overvalue the "right to choose" in the draft -- non-regressive predictions, overconfidence, the winner''s curse and false consensus all suggest a bias in this direction. Using archival data on draft-day trades, player performance and compensation, we compare the market value of draft picks with the historical value of drafted players. We find that top draft picks are overvalued in a manner that is inconsistent with rational expectations and efficient markets and consistent with psychological research.

As firms switch from defined-benefit plans to defined-contribution plans, employees bear more responsibility for making decisions about how much to save. The employees who fail to join the plan or who participate at a very low level appear to be saving at less than the predicted life cycle savings rates. Behavioral explanations for this behavior stress bounded rationality and self-control and suggest that at least some of the low-saving households are making a mistake and would welcome aid in making decisions about their saving. In this paper, we propose such a prescriptive savings program, called Save More Tomorrow (hereafter, the SMarT program). The essence of the program is straightforward: people commit in advance to allocating a portion of their future salary increases toward retirement savings. We report evidence on the first three implementations of the SMarT program. Our key findings, from the first implementation, which has been in place for four annual raises, are as follows: (1) a high proportion (78 percent) of those offered the plan joined, (2) the vast majority of those enrolled in the SMarT plan (80 percent) remained in it through the fourth pay raise, and (3) the average saving rates for SMarT program participants increased from 3.5 percent to 13.6 percent over the course of 40 months. The results suggest that behavioral economics can be used to design effective prescriptive programs for important economic decisions.