Richard Thaler on "Misbehaving: The Story of Behavioral Economics"
Wednesday, May 18th, 2016
| Date | Time | Location |
|---|---|---|
| Wednesday, May 18, 2016 | 4:00PM - 5:00PM | External Event, Fleck Atrium Rotman School of Management, University of Toronto, 105 St. George Street, Toronto |
Description
All current Munk School students, faculty and staff are invited to register free of charge for this next session of our ongoing Behavioural Science Experts Speaker Series @ Rotman.
DATE: Wednesday, May 18, 2016
TIMING: 4:00 sharp to 5:00pm on-stage discussion and audience Q&A
PLACE: Rotman School of Management, University of Toronto, 105 St. George Street, Toronto (Fleck Atrium, ground floor, south building)
SPEAKER: Richard H. Thaler, Professor of Behavioral Science and Economics, University of Chicago Booth School of Business, U of Chicago; President, American Economic Association; Author
IN CONVERSATION WITH: Amanda Lang, Host – “Bloomberg North”, Bloomberg TV Canada; Author
TOPIC: Misbehaving: The Story Of Behavioral Economics (Norton, 2015)
BOOK SYNOPSIS: Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world. Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments. Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber. Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining.
SERIES SPONSOR: Behavioural Economics in Action @ Rotman Research Hub
SERIES CO-HOST: Munk School of Global Affairs
TO REGISTER please visit www-2.rotman.utoronto.ca/may18 (Munk School students, faculty and staff, ID required at event) or http://www.rotman.utoronto.ca/ProfessionalDevelopment/Events/UpcomingEvents/20160518RichardThaler.aspx (all others) by noon on May 17.
‘Dress code’ is business casual. We hope that you’ll attend.
If you are attending a Munk School event and require accommodation(s), please email the event contact listed above to make appropriate arrangements.
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