Richard H. Thaler's Books

The Winner's Curse

Paradoxes and Anomalies of Economic Life

By: Richard H. Thaler

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The Winner's Curse

Paradoxes and Anomalies of Economic Life

By: Richard H. Thaler

Winner of the Nobel Memorial Prize in Economic Sciences 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.

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291

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Simon and Schuster

Published Date

ISBN 10

1451697872

ISBN 13

9781451697872

The Winner's Curse

Paradoxes and Anomalies of Economic Life

By: Richard H. Thaler

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The Winner's Curse

Paradoxes and Anomalies of Economic Life

By: Richard H. Thaler

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291

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Simon and Schuster

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ISBN 10

1451697872

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9781451697872

Nudge

The Final Edition

By: Richard H. Thaler,Cass R. Sunstein

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Nudge

The Final Edition

By: Richard H. Thaler,Cass R. Sunstein

*Once again a New York Times bestseller! First the original edition, and now the new Final Edition* An essential new edition―revised and updated from cover to cover―of one of the most important books of the last two decades, by Nobel Prize winner Richard H. Thaler and Cass R. Sunstein More than 2 million copies sold 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!

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385

Publisher

Penguin

Published Date

ISBN 10

014313700X

ISBN 13

9780143137009

Misbehaving: The Making of Behavioral Economics

By: Richard H. Thaler

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Misbehaving: The Making of Behavioral Economics

By: Richard H. Thaler

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

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502

Publisher

W. W. Norton & Company

Published Date

ISBN 10

0393246779

ISBN 13

9780393246773

Nudge

The Final Edition

By: Richard H. Thaler,Cass R. Sunstein

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Nudge

The Final Edition

By: Richard H. Thaler,Cass R. Sunstein

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385

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Penguin

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ISBN 10

014313700X

ISBN 13

9780143137009

Misbehaving: The Making of Behavioral Economics

By: Richard H. Thaler

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Misbehaving: The Making of Behavioral Economics

By: Richard H. Thaler

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502

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W. W. Norton & Company

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ISBN 10

0393246779

ISBN 13

9780393246773

Quasi Rational Economics

By: Richard H. Thaler

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Quasi Rational Economics

By: Richard H. Thaler

Standard economics theory is built on the assumption that human beings act rationally in their own self interest. But if rationality is such a reliable factor, why do economic models so often fail to predict market behavior accurately? According to Richard Thaler, the shortcomings of the standard approach arise from its failure to take into account systematic mental biases that color all human judgments and decisions.

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396

Publisher

Russell Sage Foundation

Published Date

ISBN 10

087154847X

ISBN 13

9780871548474

The Psychology of Investing

By: Lawrence E. Lifson,Richard A. Geist

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The Psychology of Investing

By: Lawrence E. Lifson,Richard A. Geist

Dieses maßgebende Buch aus der Schmiede der Harvard-Universität stützt sich auf Erkenntnisse und Ideen führender Experten aus den Bereichen Investment und Psychologie. Die Beiträge stammen u.a. von Abby Joseph Cohen, stellvertretender Vorstandsvorsitzender bei Goldman-Sachs, Samuel Hayes von der Harvard Business School und von Mark Hubert, Kolumnist beim Forbes Magazine. Diskutiert werden u.a. die psychologische Aspekte von Risiko, Massenpsychologie und geschlechtsbedingten Unterschieden im Investmentgeschäft. Mit einem Vorwort von John Train, dem Autor zahlreicher Bestseller zur Geldanlage. (11/97)

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Page Count

218

Publisher

John Wiley & Sons

Published Date

ISBN 10

0471183393

ISBN 13

9780471183396

Nudge

Improving Decisions about Health, Wealth and Happiness

By: Richard H. Thaler,Cass R. Sunstein

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Nudge

Improving Decisions about Health, Wealth and Happiness

By: Richard H. Thaler,Cass R. Sunstein

Every day we make decisions: about the things that we buy or the meals we eat; about the investments we make or our children's health and education; even the causes that we champion or the planet itself. Unfortunately, we often choose poorly. We are all susceptible to biases that can lead us to make bad decisions that make us poorer, less healthy and less happy. And, as Thaler and Sunstein show, no choice is ever presented to us in a neutral way. By knowing how people think, we can make it easier for them to choose what is best for them, their families and society. Using dozens of eye-opening examples the authors demonstrate how to nudge us in the right directions, without restricting our freedom of choice. Nudge offers a unique new way of looking at the world for individuals and governments alike.This is one of the most engaging, provocative and important books you will ever read.

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305

Published Date

ISBN 10

0141040017

ISBN 13

9780141040011

Financial Accounting Theory and Analysis

Text and Cases

By: Richard G. Schroeder,Myrtle W. Clark,Jack M. Cathey

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Financial Accounting Theory and Analysis

Text and Cases

By: Richard G. Schroeder,Myrtle W. Clark,Jack M. Cathey

In the newly revised fourteenth edition of Financial Accounting Theory and Analysis: Text and Cases, a decorated team of accounting veterans delivers an authoritative exploration of how accounting standards impact the daily decisions of accounting professionals. You'll discover how accounting theory explains why particular companies select particular accounting methods and predicts the attributes of firms by analyzing the accounting methods they employ. The authors examine the latest empirical research relevant to theories of accounting and the uses of accounting information, including the fundamental analysis model, the efficient markets hypothesis, the behavioral finance model, the positive accounting theory model, and more. This latest edition robustly summarizes current disclosure requirements for various financial statement items and reviews the development and current state of accounting theory. It also includes: Discussions of the decline of the movement to adopt international accounting standards in the United States Coverage of the proposed IASB amendment to require reporting on ESG metrics Explorations of recent attempts to promote relevant and practical accounting research in academia Updated analysis exercises for real-world financial statements Analysis of the differences between FASB and IASB accounting standards pertaining to fair value Coverage of the changes related to stock compensation contained in ASU 2021-04 and ASU 2018-07

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706

Publisher

John Wiley & Sons

Published Date

ISBN 10

1119881226

ISBN 13

9781119881223

Skepticism and Freedom

A Modern Case for Classical Liberalism

By: Richard A. Epstein

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Skepticism and Freedom

A Modern Case for Classical Liberalism

By: Richard A. Epstein

With this book, Richard A. Epstein provides a spirited and systematic defense of classical liberalism against the critiques mounted against it over the past thirty years. One of the most distinguished and provocative legal scholars writing today, Epstein here explains his controversial ideas in what will quickly come to be considered one of his cornerstone works. He begins by laying out his own vision of the key principles of classical liberalism: respect for the autonomy of the individual, a strong system of private property rights, the voluntary exchange of labor and possessions, and prohibitions against force or fraud. Nonetheless, he not only recognizes but insists that state coercion is crucial to safeguarding these principles of private ordering and supplying the social infrastructure on which they depend. Within this framework, Epstein then shows why limited government is much to be preferred over the modern interventionist welfare state. Many of the modern attacks on the classical liberal system seek to undermine the moral, conceptual, cognitive, and psychological foundations on which it rests. Epstein rises to this challenge by carefully rebutting each of these objections in turn. For instance, Epstein demonstrates how our inability to judge the preferences of others means we should respect their liberty of choice regarding their own lives. And he points out the flaws in behavioral economic arguments which, overlooking strong evolutionary pressures, claim that individual preferences are unstable and that people are unable to adopt rational means to achieve their own ends. Freedom, Epstein ultimately shows, depends upon a skepticism that rightly shuns making judgments about what is best for individuals, but that also avoids the relativistic trap that all judgments about our political institutions have equal worth. A brilliant defense of classical liberalism, Skepticism and Freedom will rightly be seen as an intellectual landmark.

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324

Publisher

University of Chicago Press

Published Date

ISBN 10

0226213048

ISBN 13

9780226213040

The New World of Economics

A Remake of a Classic for New Generations of Economics Students

By: Richard B. McKenzie,Gordon Tullock

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The New World of Economics

A Remake of a Classic for New Generations of Economics Students

By: Richard B. McKenzie,Gordon Tullock

The New World of Economics, 6th edition, by Richard McKenzie and Gordon Tullock, represents a revival of a classic text that, when it was first published, changed substantially the way economics would be taught at the introductory and advanced levels of economics for all time. In a very real sense, many contemporary general-audience economics books that seek to apply the “economic way of thinking” to an unbounded array of social issues have grown out of the disciplinary tradition established by earlier editions of The New World of Economics. This new edition of The New World will expose new generations of economics students to how McKenzie and Tullock have applied in a lucid manner a relatively small number of economic concepts and principles to a cluster of topics that have been in the book from its first release and to a larger number of topics that are new to this edition, with the focus of the new topics on showing students how economic thinking can be applied to business decision making. This edition continues the book’s tradition of taking contrarian stances on important economic issues. Economics professors have long reported that The New World is a rare book in that students will read it without being required to do so.

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562

Publisher

Springer Science & Business Media

Published Date

ISBN 10

3642273645

ISBN 13

9783642273643

The Customer Service Solution: Managing Emotions, Trust, and Control to Win Your Customer’s Business

By: Sriram Dasu,Richard B. Chase

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The Customer Service Solution: Managing Emotions, Trust, and Control to Win Your Customer’s Business

By: Sriram Dasu,Richard B. Chase

Understand Consumer Psychology to Drive Profits and Growth Want to know exactly what’s driving your customer's behavior? NOW YOU CAN! The Customer Service Solution explains how consumers perceive services and shows you how to enhance the customer experience--every time. In this economic climate, the customer service experience is more critical than ever. Most leading service firms advocate the TLC mantra: Think Like a Customer. That's a good practice, but first you have to understand what your customer is thinking and feeling. Today's business leaders cannot afford to neglect the psychological principles that govern customer satisfaction and long-term loyalty. What are the factors that really determine customer satisfaction? Two of the nation's leading authorities on service psychology, Sriram Dasu and Richard Chase, have written this groundbreaking guide that identifies and demystifies the psychological triggers behind customer behavior. You'll go where customer satisfaction surveys, mystery shoppers, and focus groups can't--and learn exactly why customers respond and behave the way they do. With findings drawn from behavioral science research, this book provides all the tools you need to evaluate your current service platforms and design future strategies to enhance customer perceptions positively and drive your sales. The Customer Service Solution illustrates why even companies with high levels of satisfaction are missing tremendous opportunities by neglecting the emotional elements that govern consumer interactions. This book will show you how to: Shape and manage customer perceptions Understand implicit versus explicit outcomes Develop the roles of control and choice among buyers Design emotionally intelligent processes Build trust among customers Whatever your business may be--healthcare, hospitality, financial services, e-commerce, and more--this book is an essential tool to help you increase profits by leveraging your company's customer experience. PRAISE FOR THE CUSTOMER SERVICE SOLUTION: "Harnessing the power of emotions will help to drive an exceptional customer experience creating customers for life to help your business thrive. Finally, a guide to help us better understand how to do this." -- James Merlino, MD, Chief Experience Officer, Cleveland Clinic "Required reading for anyone designing a service encounter." -- James Heskett, Professor Emeritus, Harvard Business School, coauthor of The Service Profit Chain and Service Future "I have always known that our customers shop with us because they want to, not because they have to. How to make them want to is the secret that this great book unlocks." -- Kevin Davis, President and CEO, Bristol Farms "[Dasu and Chase] share easy-to-understand ideas and guidance to operations managers who typically do not think about the psychology of customers in designing their services." -- Mary Jo Bitner, PhD, Professor and Executive Director, Center for Services Leadership, W. P. Carey School, Arizona State University "Dasu and Chase provide an excellent set of ideas for delivering emotional customer service experiences through systems and operations." -- Rodolfo Medina, Vice President, Marketing & Commercial, Rock in Rio "This book provides valuable insights to managing and molding the customer's emotional journey, leading to ultimate satisfaction and sustainable loyalty." -- Ali V. Kasikci, Regional Managing Director, Orient-Express

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242

Publisher

McGraw Hill Professional

Published Date

ISBN 10

0071809937

ISBN 13

9780071809931

Tropical Infectious Diseases

Principles, Pathogens & Practice

By: Richard L. Guerrant

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Tropical Infectious Diseases

Principles, Pathogens & Practice

By: Richard L. Guerrant

The reference JAMA called "an outstanding contribution" and "must reading" is back in a fully revised New Edition! This 2-volume set presents cutting-edge discussions of scientific principles, pathogenesis, pathophys-iology, diagnosis, treatment, and prevention for the full range of tropical infectious diseases. A new bonus CD-ROM, a clinical-focused organization, standardized life-cycle diagrams, and 850 illustrations make vital guidance easy to find and apply

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Page Count

954

Published Date

ISBN 10

044306668X

ISBN 13

9780443066689

Quasi Rational Economics

By: Richard H. Thaler

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Quasi Rational Economics

By: Richard H. Thaler

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396

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Russell Sage Foundation

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087154847X

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9780871548474

Misbehaving

How Economics Became Behavioural

By: Richard H. Thaler

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Misbehaving

How Economics Became Behavioural

By: Richard H. Thaler

Get ready to change the way you think about economics. From the renowned and entertaining behavioural economist and co-author of the seminal work Nudge, Misbehavingis 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. Acclaim for Misbehaving 'The creative genius who invented the field of behavioural economics is also a master storyteller and a very funny man. All these talents are on display in this wonderful book.' Daniel Kahneman, winner of the Nobel Prize in Economics and Author of Thinking, Fast and Slow 'Misbehavinggives us the story behind some of the most important insights in modern economics. If I had to be trapped in an elevator with any contemporary intellectual, I'd pick Richard Thaler.' Malcolm Gladwell 'Richard Thaler has been at the centre of the most important revolution to happen in economics in the last thirty years. In this captivating book, he lays out the evidence for behavioural economics and explains why there was so much resistance to it. Read Misbehaving. There is no better guide to this new and exciting economics.' Robert J. Shiller, winner of the Nobel Prize in Economics and Author of Finance and the Good Society

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432

Published Date

ISBN 10

1846144035

ISBN 13

9781846144035

Advances in Behavioral Finance, Volume II

By: Richard H. Thaler

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Advances in Behavioral Finance, Volume II

By: Richard H. Thaler

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.

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Page Count

744

Publisher

Princeton University Press

Published Date

ISBN 10

1400829127

ISBN 13

9781400829125

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