Re:People Aren’t Dumb, the World Is Hard
by frgtpsswrdlame on Thursday July 12, 2018 @10:28AM
(#17514931)
Here's the lecture he's gave for the Nobel: https://www.nobelprize.org/nobel_prizes/economic-sciences/la...
If you're looking for information on nudges, check this: http://economicspsychologypolicy.blogspot.com/2013/08/nudge-...
It looks like they've stopped updating it but it has all sorts of economic research on nudges in it. Beware that some of this research is debated though.
There's another section of the Nobel site that provides background on the work, both a popular version and an advanced version. The advanced version amounts to a fairly substantive literature review. In general, you can find both documents for all Nobel Prizes, and the writing is very good.
Popular: https://www.nobelprize.org/nobel_prizes/economic-sciences/la...
Advanced: https://www.nobelprize.org/nobel_prizes/economic-sciences/la...
Thaler has written a couple of books. Nudge (with Cass Sunstein) focuses on how the "right" decisions can be "nudged" by setting up appropriate decision frameworks.
Misbehaving is more of a personal history of how he got to behavioral decision theory. I particularly enjoyed that because I had a couple classes with him when he was working on these ideas early on.
Any pointers to where to find the information/studies that won him the prize. What people should/shouldn't be doing when making financial decisions. For instance, there was a reference to the fact that people "should ignore sunk costs" but don't. What are some other things to watch out for, and the reasons to do so?