The rise of behavioral economics: Richard Thaler’s Misbehaving

Revista de Economía Institucional

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Title The rise of behavioral economics: Richard Thaler’s Misbehaving
El ascenso de la economía del comportamiento: Misbehaving, de Richard Thaler
O surgimento da economia comportamental: Misbehaving, de Richard Thaler
Creator Sunstein, Cass R.
Subject Richard Thaler, behavioral economics, value of a statistical life
Richard Thaler, conducta económica, valor de una vida estadística
Richard Thaler, comportamento econômico, valor de uma vida estatística
Description Behavioral economics emerged in the 1980s, above all because of the creative work of Richard Thaler, exploring the relevance of the endowment effect, mental accounting, concern for fairness, and other “anomalies” from the standpoint of standard economic theory. His engaging book, Misbehaving, offers a narrative account of how these ideas came about, and also explores some of their implications for the future. Continuing challenges include making predictions when behavioral findings cut in different directions (as, for example, where optimistic bias conflicts with availability bias); understanding the line between nudging and manipulation; and applying behavioral findings to pressing public policy challenges, such as poverty, education, terrorism, and climate change.
La economía del comportamiento surgió en la década 1980, debido sobre todo a la obra de Richard Thaler, quien exploró la relevancia del efecto dotación, la contabilidad mental, la preocupación por la justicia y otras “anomalías”, según la teoría económica estándar. Su maravilloso libro, Misbehaving, ofrece una descripción narrativa del surgimiento de estas ideas, y explora algunas de sus implicaciones para el futuro. Los retos continuos incluyen el de hacer predicciones cuando los resultados del comportamiento inciden en direcciones diferentes (como, p. ej., cuando el sesgo optimista entra en conflicto con el sesgo de disponibilidad); entender la línea entre empujar y manipular; y aplicar los resultados del comportamiento a desafíos apremiantes de política pública, como la pobreza, la educación, el terrorismo y el cambio climático.
A economia comportamental emergiu na década de 1980, principalmente, devido ao trabalho de Richard Thaler, que explorou a relevância do efeito de dotação, da contabilidade mental, da preocupação com a justiça e de outras “anomalias”, de acordo com a teoria econômica padrão. Seu maravilhoso livro, Misbehaving, oferece uma descrição narrativa do surgimento dessas ideias e explora algumas de suas implicações para o futuro. Os desafios contínuos incluem fazer previsões quando os resultados comportamentais atingirem direções diferentes (como, por exemplo, quando a tendência otimista entra em conflito com a de disponibilidade); entender a linha entre empurrar e manipular; e aplicar resultados comportamentais nos desafiosemergentes das políticas públicas, como pobreza, educação, terrorismo e mudança climática.
Publisher Universidad Externado de Colombia
Date 2019-05-27
Type info:eu-repo/semantics/article
Format application/pdf
Source Revista de Economía Institucional; Vol. 21 Núm. 41 (2019): Julio-Diciembre; 5-20
Revista de Economía Institucional; Vol 21 No 41 (2019): Julio-Diciembre; 5-20
Revista de Economía Institucional; v. 21 n. 41 (2019): Julio-Diciembre; 5-20
Language spa
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