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
Maria Theresa thaler Maria Theresa thaler The Maria Theresa thaler (MTT) is a silver bullion coin that has been used in world trade continuously since it was first minted in 1741. It is named after Empress Maria Theresa, who ruled Austria, Hungary, and Bohemia from 1740 to 1780 and is depicted on the coin. In 1741 they used the Reichsthaler standard of 9 thalers to the Vienna mark (a weight approximating half a pound of fine silver). In 1750 the thaler was debased to 10 thalers to the Vienna mark. The following year the new standard was effectively adopted across the German-speaking world