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Quasi rational economics richard h thaler on amazoncom free shipping on qualifying offers 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 factorrichard h thaler was awarded the 2017 nobel prize in economics he is the charles r walgreen distinguished service professor of behavioral science and economics at the university of chicagos booth school of business where he is the director of the center for decision researchin offering answers to these questions quasi rational economics provides an essential introduction to a new field it mounts a trenchant critique of current practice in economics and calls for richer more realistic approaches to formulating and testing economic theorystandard 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 editorial reviews the product of a workshop on title held in feb 1988 near denver colo this volume summarizes and provides examples of state of the art approaches in quantitative analysis of sedimentary basins

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