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Richard Thaler on misbehavior, tipping, and economists as failed mathematicians

See on Scoop.itBounded Rationality and Beyond

In economic terms, leaving a tip at a restaurant you’ll never return to is misbehaving. Most people would think of it as good behavior. 

Richard Thaler spent most of his career as an academic outsider. And along the way, he became one of the founding fathers of a once-obscure blend of psychology and economics that we now know as behavioral economics.

An economics professor at the University of Chicago Booth School of Business, Thaler is now president of the American Economic Association. Just how he went from the fringes to the very heart of the profession is the story told in his latest book, an economics memoir titled Misbehaving.

See on qz.com



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