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
Cass Sunstein actually behave. According to Sunstein, the interpretation of federal law should be made not by judges but by the beliefs and commitments of the U.S. president and those around him. "There is no reason to believe that in the face of statutory ambiguity, the meaning of federal law should be settled by the inclinations and predispositions of federal judges. The outcome should instead depend on the commitments and beliefs of the President and those who operate under him," argued Sunstein. Sunstein (along with his coauthor Richard Thaler) has elaborated the theory of libertarian paternalism. In arguing for this theory, he