“The study of economic analysis that applies psychological insight into human behavior to explain economic decision making.”
Misbehaving by Richard Thaler provides fun glimpses into buying choices from ski lift packages to wine futures. You’ll learn about “sunk costs” and “econs” vs. “humans” in an entertaining way. L.J. Ganser provides a great narration and I predict this is one audiobook you’ll want to listen to again.
And when I listened to the results of several studies by Richard Thaler, I was heartened to learn that it’s still part of human nature to want to help someone out even if it means giving up a $. Also, consumers react highly negatively to merchants who “gauge” — i.e., increasing the price of snow shovels after a snow storm. In Misbehaving, Richard Thaler compiles highlights of his forty years as a behavioral economist. It’s a great choice for summer road trips.
Disclosure: I received a copy of Misbehaving from Audible in exchange for an honest review. This post contains affiliate links.
You can see the Audible edition of Misbehaving at Amazon by clicking on the image above or the link below: