Ep18 - "Misbehaving" by Richard Thaler (p. 2015) w/ guest Todd Stankiewicz, CFP & ABFP

 #BLUFFbooks 📚 — "Misbehaving" by Richard Thaler, PhD (p. 2015)

Subtitle: "The Making of Behavioral Economics" 📊🤑

 💡Big Ideas Below: ⬇️

🧠 1. Humans vs. Econs (Normal people usually don’t make the most rational choice).

🧠 2. Sunk Costs (Even academics doggedly cling to the things & theories they’ve invested in).

🧠 3. What a Ripoff!! (Fairness, Utility Value & Transaction Value)

🧠 4. A Matter of Principal (Narrow Framing, Hindsight Bias, & the Principal-Agent Problem).

🧠 5. Tilting the Pool Table (Thaler & Nudging)