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 thousands of dollars, and are highly sought after by serious collectors of thalers. Few circulated in any real sense so they often remain in well-preserved condition. In the Holy Roman Empire, the thaler was used as the standard against which the various states' currencies could be valued. One standard also adopted by Prussia was the Reichsthaler, which contained of a Cologne mark of silver. In 1754, the Conventionsthaler was introduced, containing of a Cologne mark of silver. In 1837, the Prussian thaler became part of a currency union which set the value of the southern German gulden at per thaler.