Why 'Rational' Humans Misbehave

Traditional economics argues that humans are rational actors. But Richard H. Thaler, Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics, had spent much of his career challenging that notion. In his new book, Misbehaving, The Making of Behavioral Economics, Thaler explains why humans depart from standards of rationality and explores the consequences of human miscalculations.

New book by founder of behavioral economics explores human miscalculations and their effects on markets. Read the press release »

“Unless You Are Spock, Irrelevant Things Matter in Economic Behavior.” Read Thaler’s view in the New York Times »

"Richard Thaler pioneered behavioral economics, and changed the way companies manage their 401(k)s," writes Money magazine. Read more »