Plano Reads: Misbehaving

Read our review for Misbehaving: the Making of Behavioral Economics, a Brown Bag Book Club pick.

You can join us to virtually discuss Misbehaving on April 23 at 12 p.m. using Zoom. Register for this session on Zoom here.

Misbehaving: The Making of Behavioral Economics
by Richard Thaler

Currently available as an eBook on Overdrive or through the Libby app

Description from Overdrive: 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.

Wonder why people hoard toilet tissue? Richard Thaler, Noble Prize-winning economist, offers some answers. Thaler has made the study of irrational behavior (or misbehaving) his life’s work. Economics has often based its ideas on people behaving rationally. Thaler has dedicated his work to understanding fallible, error prone humans who are often not rational. Combining psychology with an understanding of market behavior and incentives, Thaler explains, in common sense fashion, how we can make better decisions. He gives us new ways to both understand and adjust our thinking around topics ranging from household finances to selling basketball tickets. These are important insights into modern economics and decision making told in a slyly entertaining and humorous fashion – review from librarian Cynthia

Read more about Economist Thaler on the Nobel Prize website, which includes a quick fact sheet and biography.

Interesting to note: Thaler made a cameo appearance with Selena Gomez in The Big Short explaining synthetic CDOs through blackjack.

Here are some additional, related resources, available through Plano Public Library with your library card:

eBooks and eAudiobooks on Economics available via Overdrive or in the Libby app

Download digital magazines through Flipster: Time, Forbes, Fortune and Bloomberg Businessweek

Download digital magazines through RBdigital: The Economist and Kiplinger’s Personal Finance

Stream videos from Kanopy, including films on Economics and Globalization; and, video series from The Great Courses, including The Economics of Uncertainty, Money Management Skills, The Art of Investing and An Economic History of the World since 1400

View news, commentary, fund information, tutorials and more about investment resources using Morningstar Investment Research Center