# Misbehaving: The Making of Behavioural Economics

- Link: https://fundraising.co.uk/books/misbehaving-making-behavioural-economics/
- Published: 2016-05-31T17:05:50+01:00
- Author: Howard Lake

If the role of behavioural economics in fundraising intrigues you, this book gives
you the background to the rise of this academic discipline. Combining economics,
social science and psychology, Professor Thaler’s work examines how people really
function, not how they should do according to economic theory.
 From the renowned
and entertaining behavioural economist and co-author of the seminal work _Nudge_,_
Misbehaving_ is an irreverent and enlightening look into human foibles. Traditional
economics assumes that rational forces shape everything. Behavioural economics knows
better. Richard Thaler has spent his career studying the notion that humans are 
central to the economy – and that we’re error-prone individuals, not Spock-like 
automatons. Now behavioural economics is hugely influential, changing the way we
think not just about money, but about ourselves, our world and all kinds of everyday
decisions.

Whether buying an alarm clock, selling football 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. 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 behaviour, Thaler enlightens readers about how to make smarter
decisions in an increasingly mystifying world. He reveals how behavioural economic
analysis opens up new ways to look at everything from household finance to assigning
faculty offices in a new building, to TV quiz shows, sports transfer seasons, and
businesses like Uber.

When economics meets psychology, the implications for individuals, managers and 
policy makers are both profound and entertaining.

**Shortlisted for the _Financial Times_ and McKinsey Business Book of the Year Award**
**
_Economist, Financial Times and Evening Standard books of the year_

![Loading](https://fundraising.co.uk/wp-content/plugins/page-views-count/ajax-loader-
2x.gif)