Book Discussion: Misbehaving

Nobel laureate Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world.

Here is the link to the free e-copy book in pdf format:
https://drive.google.com/file/d/154zfU53e1MjegNYkjuIGuh2BrewDDmmK/view?usp=sharing

Here is the link to the Goodreads page of the book:
https://www.goodreads.com/book/show/26530355-misbehaving

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Discussion questions:

1. Cognitive Bias: What are common cognitive biases that might be influencing your major life decisions, such as where to live or whether to change careers? How can you counteract these biases?
2. Sunk Cost Fallacy: What strategies can individuals use to decide when it’s time to give up a hobby, project, or career path that no longer serves them, despite significant past investment?
3. Myopia and Risk Aversion: How might loss aversion impact your willingness to take risks in pursuit of potential high rewards? Can understanding this bias help you make more balanced risk decisions?
4. Principal Agent Problem: How does the principal-agent problem impact team dynamics and project management within an organization? What strategies can leaders employ to ensure that team members' actions align with organizational goals?
5. Endowment Effect: How might the endowment effect influence individuals' decisions to stay in their current job or career path, despite better opportunities elsewhere? What strategies can individuals use to evaluate their options more objectively?
6. Nudging: What ethical considerations should be made when governments use nudges to influence citizen behavior? Is there a line between helpful guidance and manipulation?

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To provide an enjoyable experience for fellow participants, here are three ground rules during book discussion events:

1. Step up and step back. (If you feel that you’ve been talking too much, step back to listen more. If you feel that you’ve been relatively quiet, step up to share your perspective or ask a question)
2. Listen to understand, not to respond.
3. Be open-minded and value differences.

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note:

• This book club will always be free and will never accept fundraising, sponsorships, or advertising. The only request is that, because we will usually meet at a local coffee shop, it will be great if participants can order some drinks or meal items during events.