Misbehaving

In 'Misbehaving: The Making of Behavioral Economics,' Richard H. Thaler recounts his journey in challenging traditional economic theories that assume humans are rational actors.

The book chronicles the evolution of behavioral economics, a field that integrates psychology and economics to understand how people actually make decisions.

Thaler discusses various behavioral concepts such as endowment effects, mental accounting, and self-control issues, using anecdotes and empirical studies to illustrate these points.

The book also delves into Thaler's personal struggles and successes in establishing behavioral economics as a recognized field, including his work with institutions like the British tax collection agency and his battles with traditional economic thinking.