Richard H. Thaler

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About Richard H. Thaler
Richard H. Thaler is the Charles R. Walgreen Distinguished Service Professor of Economics and Behavioral Science at the University of Chicago's Graduate School of Business where he director of the Center for Decision Research. He is also a Research Associate at the National Bureau of Economic Research where he co-directs the behavioral economics project. Professor Thaler's research lies in the gap between psychology and economics. He is considered a pioneer in the fields of behavioral economics and finance. He is the author of numerous articles and the books Misbehaving: The Making of Behavioral Economics; Nudge: Improving Decisions about Health, Wealth and Happiness (with Cass Sunstein), The Winner's Curse, and Quasi Rational Economics and was the editor of the collections: Advances in Behavioral Finance, Volumes 1 and 2. He also wrote a series of articles in the Journal of Economics Perspectives called: "Anomalies". He is one of the rotating team of economists who write the Economic View column in the Sunday New York Times.
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Since the original publication of Nudge more than a decade ago, the title has entered the vocabulary of businesspeople, policy makers, engaged citizens, and consumers everywhere. The book has given rise to more than 400 “nudge units” in governments around the world and countless groups of behavioral scientists in every part of the economy. It has taught us how to use thoughtful “choice architecture”—a concept the authors invented—to help us make better decisions for ourselves, our families, and our society.
Now, the authors have rewritten the book from cover to cover, making use of their experiences in and out of government over the past dozen years as well as an explosion of new research in numerous academic disciplines. To commit themselves to never undertaking this daunting task again, they are calling this the “final edition.” It offers a wealth of new insights, for both its avowed fans and newcomers to the field, about a wide variety of issues that we face in our daily lives—COVID-19, health, personal finance, retirement savings, credit card debt, home mortgages, medical care, organ donation, climate change, and “sludge” (paperwork and other nuisances we don’t want, and that keep us from getting what we do want)—all while honoring one of the cardinal rules of nudging: make it fun!
Winner of the Nobel Prize in Economics
Get ready to change the way you think about economics.
Nobel laureate Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world.
Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments.
Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber.
Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining.
Shortlisted for the Financial Times & McKinsey Business Book of the Year Award
Richard Thaler, pionero en este campo y uno de sus mayores expertos, aborda la evolución y los hitos en esta disciplina desde sus inicios en los años setenta del siglo xx hasta la actualidad. Este libro orienta al lector sobre cómo tomar decisiones más inteligentes en un mundo cada vez más confuso y revela cómo el análisis de la psicología económica abre el camino a nuevas formas de tomar decisiones, desde la economía familiar hasta la selección de jugadores profesionales de fútbol o la gestión de nuevos negocios como Uber.
Después de leerlo, cambiarás tu manera de pensar sobre la economía.
El libro que inspiró a Barack Obama los fundamentos de la política al demostrar el poder de un pequeño empujón.
Por el Premio Nobel de Economía 2017 Richard H. Thaler.
En Un pequeño empujón, considerado ya un clásico y uno de los mejores libros sobre economía y política de las últimas décadas, Cass R. Sunstein y Richard H. Thaler, premio Nobel de Economía, observan cómo nuestras percepciones y decisiones dependen del modo en que se organizan ante nosotros las diferentes opciones. Gobiernos y empresas, pero también padres, profesores y médicos, se convierten así en una especie de «arquitectos de la elección».
A través de leves impulsos, conscientes, a menudo invisibles y cuyo coste económico y político es irrisorio, las personas e instituciones públicas o privadas pueden incentivar sin mermar la libertad de elección de los ciudadanos, y obtener así grandes logros en relación con la sanidad pública, las finanzas o la lucha contra la desigualdad. Un libro esencial para quienes formulan nuestras políticas públicas, pero cuya aplicabilidad en nuestras vidas cotidianas es sorprendente y maravillosamente eficaz.
Críticas:
«¿Cuántas veces se encuentra uno con un libro a la vez importante y divertido, práctico y profundo? De lectura obligada para quien quiera ver mejorar el funcionamiento de nuestras mentes y nuestra sociedad.»
Daniel Kahneman, Premio Nobel de Economía y autor de Pensar rápido, pensar despacio
«Me entusiasma este libro. Es uno de los pocos que han cambiado de un modo trascendente mi manera de ver el mundo.»
Steve Levitt, autor de Freakonomics
«El libro más importante que he leído en veinte años.»
Barry Schwartz, The American Prospect
«Fabuloso. Cambiará tu forma de pensar, no solo sobre el mundo que te rodea y algunos de sus mayores problemas, sino también sobre ti mismo.»
Michael Lewis, autor de La gran apuesta y Deshaciendo errores
Richard Thaler challenges the received economic wisdom by revealing many of the paradoxes that abound even in the most painstakingly constructed transactions. He presents literate, challenging, and often funny examples of such anomalies as why the winners at auctions are often the real losers—they pay too much and suffer the "winner's curse"—why gamblers bet on long shots at the end of a losing day, why shoppers will save on one appliance only to pass up the identical savings on another, and why sports fans who wouldn't pay more than $200 for a Super Bowl ticket wouldn't sell one they own for less than $400. He also demonstrates that markets do not always operate with the traplike efficiency we impute to them.
Ogni giorno prendiamo decisioni sui temi più disparati: come investire i nostri soldi, cosa mangiare per cena, con che mezzo di trasporto raggiungere il centro della città. Purtroppo facciamo spesso scelte sbagliate. Mangiamo troppo, usiamo la macchina quando potremmo andare a piedi o scegliamo il mutuo meno conveniente. Siamo esseri umani, non calcolatori perfettamente razionali, e siamo condizionati da troppe informazioni contrastanti, dall’inerzia e dalla limitata forza di volontà. È per questo che abbiamo bisogno di un “pungolo”, di una spinta gentile che ci indirizzi verso la scelta giusta: di un nudge, come l’hanno battezzato l’economista Richard Thaler e il giurista Cass Sunstein in questo libro che negli Stati Uniti è stato un vero e proprio bestseller. L’idea di Thaler e Sunstein è semplice ma geniale: per introdurre pratiche di buona cittadinanza, occorre imparare a usare a fin di bene l’irrazionalità umana. I campi d’applicazione sono potenzialmente illimitati: dal sistema pensionistico allo smaltimento dei rifiuti, con conseguenze non da poco anche per la politica, soprattutto in tempi di scarsità. Perché una buona architettura della scelta può consentire ai governi di tutelare la libertà dei cittadini, incoraggiandoli però a prendere decisioni più sagge.
Ce livre raconte l'avènement de l'" économie comportementale ", dont Richard Thaler est l'un des principaux pères fondateurs. En combinant la psychologie expérimentale et l'étude concrète des marchés, cette nouvelle discipline refonde l'analyse économique sur les comportements réels des êtres humains, et non plus sur la fiction de l'homo œconomicus. Autrement dit, elle sape les fondements de la science officielle (mainstream) qui ne croit qu'aux marchés efficients agis par des acteurs rationnels prenant toujours la meilleure décision possible. Quarante ans de recherches ont en effet définitivement établi que les consommateurs, les entrepreneurs, les traders, les investisseurs, les chauffeurs de taxi, etc., pensent et agissent bien souvent de travers par rapport à la fiction du choix rationnel. Plutôt que de rédiger un manuel, Thaler a choisi de rendre ces découvertes accessibles à un large public, en racontant sa vie de chercheur, ses quarante années de combat contre la doxa régissant les universités américaines. Cela donne un livre vivant et plein d'humour, grâce auquel chacun comprendra mieux ses propres comportements erronés (misbehaving), certes déviants de la rationalité économique, mais qui font de nous des humains, et non pas ces extraterrestres qui peuplent les manuels d'économie. Thaler nous dévoile aussi comment la compréhension de nos modes de raisonnement réels peut nous aider à prendre de meilleures décisions dans notre vie personnelle, dans la gestion des affaires économiques ou dans la conduite des politiques publiques.
Traduit de l'anglais (États-Unis) par Christophe Jaquet.
Richard H. Thaler, 73 ans, professeur à l'université de Chicago, est considéré, avec Daniel Kahneman, comme le père fondateur de l'économie comportementale. Il a reçu le prix en l'honneur d'Alfred Nobel (2017) pour l'ensemble des découvertes dont il retrace l'histoire dans ce livre.
VENCEDOR DO NOBEL DE ECONOMIA PUBLICA SUA OBRA MAIS FUNDAMENTAL
Um dos pais-fundadores da economia comportamental, Richard H. Thaler remonta neste livro a história dessa disciplina, dos seus primórdios nos anos 1970 até suas aplicações na atualidade. Com exemplos que vão das altas apostas do mercado financeiro até o que nos influencia no momento de escolha do jantar, o autor traça de forma leve e bem-humorada os principais conceitos dessa área de conhecimento, resultando em uma leitura essencial para todos aqueles que desejam se conectar com o futuro do pensamento econômico.
Aliando as mais recentes descobertas no campo da psicologia à compreensão prática de incentivos e comportamento de mercado, o livro nos ajuda a tomar decisões mais inteligentes nos âmbitos pessoal e financeiro. Misbehaving revela como o estudo da imprevisibilidade humana pode ser útil para nossas vidas, negócios e governos, transformando assim a forma como pensamos sobre nós mesmos e o mundo.
This book offers a definitive and wide-ranging overview of developments in behavioral finance over the past ten years. In 1993, the first volume provided the standard reference to this new approach in finance--an approach that, as editor Richard Thaler put it, "entertains the possibility that some of the agents in the economy behave less than fully rationally some of the time." Much has changed since then. Not least, the bursting of the Internet bubble and the subsequent market decline further demonstrated that financial markets often fail to behave as they would if trading were truly dominated by the fully rational investors who populate financial theories. Behavioral finance has made an indelible mark on areas from asset pricing to individual investor behavior to corporate finance, and continues to see exciting empirical and theoretical advances.
Advances in Behavioral Finance, Volume II constitutes the essential new resource in the field. It presents twenty recent papers by leading specialists that illustrate the abiding power of behavioral finance--of how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena. As with the first volume, it reaches beyond the world of finance to suggest, powerfully, the importance of pursuing behavioral approaches to other areas of economic life.
The contributors are Brad M. Barber, Nicholas Barberis, Shlomo Benartzi, John Y. Campbell, Emil M. Dabora, Daniel Kent, François Degeorge, Kenneth A. Froot, J. B. Heaton, David Hirshleifer, Harrison Hong, Ming Huang, Narasimhan Jegadeesh, Josef Lakonishok, Owen A. Lamont, Roni Michaely, Terrance Odean, Jayendu Patel, Tano Santos, Andrei Shleifer, Robert J. Shiller, Jeremy C. Stein, Avanidhar Subrahmanyam, Richard H. Thaler, Sheridan Titman, Robert W. Vishny, Kent L. Womack, and Richard Zeckhauser.
Warum fällt es uns so schwer, Geld fürs Alter zurückzulegen, obwohl es vernünftig wäre? Warum essen wir Fast Food, obwohl wir wissen, dass es uns schadet? Warum sind unsere Neujahrsvorsätze fast immer zum Scheitern verurteilt? Nobelpreisträger Richard Thaler hat als erster Ökonom anschaulich gezeigt, dass unser Handeln in Wirtschaft und Alltag zutiefst irrational und unberechenbar ist – und damit die traditionellen Grundannahmen der Ökonomie auf den Kopf gestellt. In diesem Buch fasst er seine Forschungen zusammen und zeigt anhand vieler Beispiele aus Beruf und Alltag, warum das Konzept des rational handelnden Homo oeconomicus ein fataler Irrglaube ist.
Nudge – so heißt die Formel, mit der man andere dazu bewegt, die richtigen Entscheidungen zu treffen. Denn Menschen verhalten sich von Natur aus nicht rational. Nur mit einer Portion List können sie dazu gebracht werden, vernünftig zu handeln. Aber wie schafft man das, ohne sie zu bevormunden? Wie erreicht man zum Beispiel, dass sie sich um ihre Altervorsorge kümmern, umweltbewusst leben oder sich gesund ernähren? Darauf gibt Nudge die Antwort. Das Konzept hat bereits viele Entscheidungsträger überzeugt, darunter US-Präsident Barack Obama. Anschaulich und unterhaltsam präsentieren der Wirtschaftsnobelpreisträger Richard Thaler und Cass Sunstein einen neuen Ansatz der Verhaltensökonomie, der schon heute das Denken und Handeln in Politik und Wirtschaft prägt.