"Wrong" Behavior by Richard Thaler Publisher: CITIC Press

Introduction
Are you ready to change the way you think about economics?
Throughout Richard Thaler's career, we find that his research has always revolved around a radical view: the main body of economic activities is people, that is, individuals with predictable behavior and prone to making mistakes. In this book, Thaler tells the difficult journey of bringing economics back to reality from the lofty "ivory tower". The story is fascinating and humorous, and it has completely changed our view of economics, ourselves, and the world.
The premise of traditional economics is that the subject of economic activities is a rational economic person. At the beginning of his research, Thaler realized that humans are completely different from rational people without emotions like Spock in "Star Trek". Whether it is buying an alarm clock, reselling basketball tickets, or applying for a mortgage, we will have some kind of bias, and the decisions we make are far from the standard rational model assumed by economists. In other words, our behavior is not rational, and even "wrong" in the eyes of traditional economists. More importantly, this "wrong" behavior can lead to serious consequences. At first, economists disdained to study people's misjudgments and their impact on the market. They thought it was just a funny "trick" and insignificant. However, today, these studies on human behavior help us make better decisions at work and in life, and also prompt the government to formulate more effective policies.
This book is dotted with interesting stories of Thaler's fierce confrontation with traditional economic thinking, exploring the deep-seated weaknesses of human beings in a unique way. When economics meets psychology, the sparks of collision will have a profound and inspiring impact on individuals, managers and decision makers.