First published 1991
Nobel laureate Richard Thaler challenges the notion that humans are purely rational decision-makers. In "Quasi Rational Economics," he dives into real-world examples that defy traditional economic models - from the sunk cost fallacy to the endowment effect. As Thaler uncovers the quirks and biases that shape our financial choices, he reveals a more human, less tidy side to economic behavior. With sharp insights and a wry sense of humor, Thaler upends the assumption of the "Econs" that populate economic theory, offering a new framework for understanding how we actually make decisions.
Genres: psychology, social-science, business, economics, non-fiction, academic
Vibes: analytical, insightful, thought-provoking
Tropes: challenging-assumptions, debunking-myths
389 pages · Paperback · Russell Sage Foundation