People Aren’t Dumb. The World Is Hard. (Ep. 340 Rebroadcast)

Richard Thaler, father of behavioral economics, has been an irritant to mainstream economists. His research, about humans’ tendency to make suboptimal decisions, tarnishes their elegant economic models. (Photo: Bengt Nyman/flickr) You wouldn’t think you could win a Nobel Prize for showing that humans tend to make irrational decisions. But that’s what Richard Thaler has done. …

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People Aren’t Dumb. The World Is Hard.

Richard Thaler, father of behavioral economics, has been an irritant to mainstream economists. His research, about humans’ tendency to make suboptimal decisions, tarnishes their elegant economic models. (Photo: Bengt Nyman/flickr) Our latest Freakonomics Radio episode is called “People Aren’t Dumb. The World Is Hard.” (You can subscribe to the podcast at Apple Podcasts, Stitcher, or elsewhere, …

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