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Econs vs. Humans: Which Are We? Book Review of Misbehaving: The Making of Behavioral Economics by Richard H. Thaler

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  • Len Tashman

Abstract

Editor and reviewer Tashman writes, ÒMisbehaving is a wonderfully entertaining account of Richard ThalerÕs four-decade-long journey to convince fellow economists that they canÕt ignore the human element of decision making Ð that there are just too many behavioral anomalies that are unexplainable by the standard economic theory.Ó These include several SIFs (seemingly irrelevant factors), like will power, endowments, inertia, and hindsight bias. These and others are explained in the review. Copyright International Institute of Forecasters, 2016

Suggested Citation

  • Len Tashman, 2016. "Econs vs. Humans: Which Are We? Book Review of Misbehaving: The Making of Behavioral Economics by Richard H. Thaler," Foresight: The International Journal of Applied Forecasting, International Institute of Forecasters, issue 41, pages 4-6, Spring.
    • Handle: RePEc:for:ijafaa:y:2016:i:41:p:4-6
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