Misbehaving (book) Misbehaving (book) Misbehaving: The Making of Behavioral Economics is a book by Richard Thaler, economist and professor at the University of Chicago's Booth School of Business. He won the Nobel Prize for economics in 2017. The book builds on Thaler's work as a Behavioral Economist in trying to present an alternate view point that humans bring along behavioral biases, are error prone, and are not always rational. This view point builds on his work from his previous book, Nudge published in 2008. Thaler ties this to the effect on markets, which are otherwise expected to be efficient. Thaler uses the
Basel thaler Basel thaler The Basel Thaler was the currency of the Swiss Canton of Basel until 1798. The currency was issued by both the Canton and the Bishopric of Basel. The basic unit was the thaler, which was subdivided into 30 "Batzen", each of 4 "Kreuzer" or 8 "Rappen". It was replaced by the Frank of the Helvetian Republic in 1798. This was, in turn, replaced by the Basel Frank. The first Thaler were issued between 1542 and 1552 by the city of Basel, together with Thaler between 1542 and 1548. In the 17th and 18th centuries, the canton issued ,