Misbehaving: The Making of Behavioral Economics

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What do economics, psychology, and experimental science have in common? As Richard Thaler implies in Misbehaving: The making of behavioral economics, most economists would say little to none — but this couldn’t be further from the truth. Misbehaving is, first and foremost, a story of how modern economics, finance, and theoretical analysis have become increasingly specialized and narrow without substantial practical value. Utilizing empirical studies and anecdotes, funny stories, and even some jokes, Thaler persuades the reader that behavioral studies — or psychology-motivated disciplines which focus on humans, not mythical rational agents — are here to stay. 

Thaler’s findings have numerous and far-reaching implications for designing and implementing ethical systems within organizations. Read our book review and learn more.

Internal Reporting

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Internal Reporting refers to any time that a member of an organization (or a former member) tells someone else about an illegal or immoral practice, if the telling is done in the hope that someone will do something to change the practice.…