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
Thaler Thaler The thaler was a silver coin used throughout Europe for almost four hundred years. Its name lives on in the many currencies called "dollar" and the Samoan tālā, and, until recently, also in the Slovenian tolar. The name "thaler" was used as an abbreviation of "Joachimsthaler", a coin type from the town of Joachimsthal in the Kingdom of Bohemia (now the Czech Republic), where there were silver mines and the first such coins were minted in 1518. This original Bohemian thaler carried a lion, from the coat of arms of the Kingdom of Bohemia, on its reverse side. Etymologically,