Author pages are created from data sourced from our academic publisher partnerships and public sources.
- Publications
- Influence
Does the Stock Market Overreact
- W. D. Bondt, R. Thaler
- Economics
- 1 July 1985
Research in experimental psychology suggests that, in violation of Bayes' rule, most people tend to "overreact" to unexpected and dramatic news events. This study of market efficiency investigates… Expand
Toward a positive theory of consumer choice
- R. Thaler
- Economics
- 1 March 1980
The economic theory of the consumer is a combination of positive and normative theories. Since it is based on a rational maximizing model it describes how consumers should choose, but it is alleged… Expand
A Survey of Behavioral Finance
- Nicholas Barberis, R. Thaler
- Economics
- 1 September 2002
Behavioral finance argues that some financial phenomena can plausibly be understood using models in which some agents are not fully rational. The field has two building blocks: limits to arbitrage,… Expand
Some empirical evidence on dynamic inconsistency
- R. Thaler
- Economics
- 1981
Abstract Individual discount rates are estimated from survey evidence. For gains, they are found to vary inversely with the size of the reward and the length of time to be waited. Rates are found to… Expand
Labor Supply of New York City Cabdrivers: One Day at a Time
- Colin F. Camerer, Linda Babcock, G. Loewenstein, R. Thaler
- Economics
- 1 May 1997
Life-cycle models of labor supply predict a positive relationship between hours supplied and transitory changes in wages. We tested this prediction using three samples of wages and hours of New York… Expand
Investor Sentiment and the Closed-End Fund Puzzle
- Charles M. C. Lee, A. Shleifer, R. Thaler
- Business
- 1 October 1990
This paper examines the proposition that fluctuations in discounts on closed end funds are driven by changes in individual investor sentiment toward closed end funds and other securities. The theory… Expand
Naive Diversification Strategies in Defined Contribution Saving Plans
- S. Benartzi, R. Thaler
- Economics
- 1 March 2001
There is a worldwide trend toward defined contribution saving plans and growing interest in privatized Social Security plans. In both environments, individuals are given some responsibility to make… Expand
An Economic Theory of Self-Control
- R. Thaler, H. Shefrin
- Economics
- Journal of Political Economy
- 1 October 1977
The concept of self-control is incorporated in a theory of individual intertemporal choice by modeling the individual as an organization. The individual at a point in time is assumed to be both a… Expand
Misbehaving: The Making of Behavioral Economics
- R. Thaler
- Political Science
- 11 May 2015
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,… Expand
Individual Preferences, Monetary Gambles, and Stock Market Participation: A Case for Narrow Framing
- Nicholas Barberis, M. Huang, R. Thaler
- Economics
- 10 July 2006
We argue that ?narrow framing,? whereby an agent who is offered a new gamble evaluates that gamble in isolation, may be a more important feature of decisionmaking than previously realized. Our… Expand