How ever, supposing that these s tudents were Ec ons, we would have to say that they were somehow misb ehaving for an Econ, t he average score would not be import ant if the average gr ade was approxim ately the same. T his str ange step was actua lly successf ul: the st udents average perform ance did not change (they still got approxi mately 70 of all questions rig ht), but the av erage score moved up from 72 to 96 a nd students were happy. To manage thi s situation (and to preser ve his origi nal idea about maint aining t he challenging nat ure of the exam), Thaler i ncreased t he maximu m total number of points f rom 100 to 137. This s trateg y yielded the expected r esults: there was a wide disper sion of scores the average result was 72100, meaning that t he average grade wa s B or B, because the school g raded on a cu rve.Īlthough these gr ades were not awfu l, students were m ad because of the low average. In order to do this, he add ed a few dicult tasks to t he exam which could be solved only by those who real ly understoo d what they had lear nt. They are rational, act in their ow n self-interest, and a re perfect calcu lators. Download oriya film i love you mp3 songsĭoctoral School of Sociology, Corvinus University of Budapest e-mail: O.Įcons make choices by opti mizing: t hey choose the best possible choice of action based on the i nformation th at is available, their preferences, and their calculat ions of costs and benets. Traditiona l economic science is built up on ideas about these bei ngs: thoughts about how 1 Virg Ilys is a Ph.D. W e see through Th alers eyes how a new discipline starte d to emerge and also, how Thaler cont ributed to cr eating it, and we can r ead about the milestones t hat were achieved by its early repre sentatives.ĮCONS AN D HU M ANS Homo Economicus, or Ec ons are descr ibed in the bo ok as mythica l creatu res which are rarely or never see n by anybody, but are thought to be real. We see how his early ideas which were not taken ser iously at the begin ning developed over time, and sta rted to i nvade the tr aditional economic view of the world. The mai n focus of the book is to i ntroduce t he most impor tant conc eptions and ndings of behav ioral economics, but this is done f rom Thalers perspective. Thalers acade mic career and a lso the discipline of behaviora l economics. N ORTON COM PAN Y, 201 5) 1 If I had to su mmar ize my thoughts ab out this book in a few words, I would say that it is not a ty pical one but take this a s a compliment.ĭue to it s suggestive name, we mig ht assume that we would be facing a well wr itten and well-st ruct ured ha ndbook about the discipli ne of behavioral economics.Īnd what is more sur prising at rst is t hat it is a memoir about Richard A.
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