Richard Thaler and the Rise of Behavioral Economics
نویسندگان
چکیده
The emergence of behavioral economics is one of the most significant conceptual developments in the social sciences in the past 40 years. The central figure in the field in its early years was Richard Thaler. In this article, I review and discuss his scientific contributions. JEL classification: B2, D9, G1
منابع مشابه
Richard Thaler ’ s “ Misbehaving ” and Implications for Investors and Advisors June 23 , 2015 by Joe Tomlinson
Richard Thaler is out with a new book, Misbehaving, tracing his career in behavioral economics. It offers an appealing combination of entertaining writing and serious discussion of the many areas he has researched. The book is a natural complement to Daniel Kahneman’s classic, Thinking, Fast and Slow. I’ll briefly compare these two books and then address what Thaler’s work says about two issues...
متن کاملTheories and Tropes: A Reply to Posner and Kelman
We are grateful to Richard Posner and Mark Kelman for their detailed comments on our article. Their objections come from opposite directions. Judge Posner complains that behavioral economics is not a "theory" and is indeed "antitheoretical"'; he invokes "evolutionary considerations"2 in the interest of providing a unitary account of both rational and "quasi rational" behavior, as well as bounde...
متن کاملExperiences of collaborative research.
The author's personal history of the research that led to his recognition in economics is described, focusing on the process of collaboration and on the experience of controversy. The author's collaboration with Amos Tversky dealt with 3 major topics: judgment under uncertainty, decision making, and framing effects. A subsequent collaboration, with the economist Richard Thaler, played a role in...
متن کاملBehavioral Economics as Part of a Rhetorical Duet: A Response to Jolls, Sunstein, and Thaler
It hardly seems surprising that Professors Jolls, Sunstein, and Thaler ("JST") have written such an interesting and provocative piece, attempting to bring the insights of "behavioral economics" to bear on the usual issues addressed by more conventional law and economics scholars. (Of course, it's plausible that I'm simply exhibiting the sort of "hindsight bias" they discuss, irrationally believ...
متن کاملAmbrosino A cognitive approach to law and economics : Hayek ’ s legacy 13 / 2010
Hayek's contribution to the analysis of law has been widely criticized and disputed This paper shares with Beaulier et al. (2005) the opinion that the significance of Hayek's legal writings and their relevance to law and economics can only be completely understood by jointly analyzing his economic theory and his legal theory. Moreover it will be argued that both theories must be reconsidered in...
متن کامل