Misbehaving: The Making Of Behavioral Economics -

It chronicles a "behavioral revolution" that transformed economics from a field of cold, mathematical formulas into one that understands how real humans actually tick. The Core Conflict: Econs vs. Humans

Thaler’s "misbehavior" refers to his refusal to ignore these human quirks, much to the annoyance of his colleagues who saw psychology as an "amusing sideshow". Key Tales of "Misbehavior" Misbehaving: The Making of Behavioral Economics

: A hardware store raising the price of snow shovels during a blizzard might make "economic sense" to an Econ, but it makes real Humans feel cheated, damaging the store's reputation—a concept of fairness traditional models ignored. The Struggle for Acceptance Key Tales of "Misbehavior" : A hardware store

Ultimately, the story is one of . It shows how behavioral insights eventually moved from the fringes of academia to influencing global public policy, business strategies for companies like Uber, and even the NFL draft. : A friend of Thaler’s owned a bottle

: A friend of Thaler’s owned a bottle of wine he bought for $10 that was now worth $100. He wouldn't sell it for $100, but he also wouldn't buy another bottle at that price. This illustrated the Endowment Effect —we value what we own more than what we don't.

The story of is an irreverent, autobiographical account of how Richard H. Thaler (Nobel Prize winner and author of Nudge ) spent four decades challenging the core assumptions of traditional economics .

The book's central "plot" revolves around a battle between two species: