Knowledge Tree
anomalies
Facts (10)
Sources
What happens when behavioral economics grows up? katymilkman.substack.com Oct 21, 2025 7 facts
accountIn 2020, Richard Thaler and Alex Imas began collaborating to update 'The Winner’s Curse' and review the 20+ years of research that followed the original 'Anomalies' columns.
claimRichard Thaler co-authored several 'Anomalies' columns with Danny Kahneman and Amos Tversky.
referenceRichard Thaler published the book 'The Winner’s Curse' in 1992, which was a collection of 14 'Anomalies' columns.
claimRichard Thaler and Alex assert that the topics addressed in the 'Anomalies' columns are highly robust and replicable, despite the broader 'replication crisis' observed in some subfields of psychology.
claimThe 'Anomalies' columns written by Richard Thaler were designed to challenge economic theories by highlighting phenomena that standard economic theory predicted would not happen.
accountRichard Thaler began writing a series of columns on 'Anomalies' for a new American Economics Association journal after spending a year in Vancouver with Danny Kahneman.
claimResearch in behavioral economics has shown that original anomalies were not due to 'confused subjects' but had real economic consequences.
Understanding Behavioral Aspects of Financial Planning and Investing financialplanningassociation.org Mar 1, 2015 1 fact
claimBehavioral finance incorporates psychology-based theories to explain market inefficiencies and anomalies that contradict traditional finance models like the efficient market hypothesis and the capital asset pricing model.
The Impact of Cognitive Biases on Professionals' Decision-Making frontiersin.org 1 fact
claimIn the 1970s, observations regarding financial market trading behavior, volatility, market returns, and portfolio selection were identified as inconsistent with the standard finance framework and were termed 'anomalies'.
Development of Behavioral Economics - NCBI - NIH ncbi.nlm.nih.gov 1 fact
accountRichard Thaler hosted a column titled 'Anomalies' in the Journal of Economic Perspectives for many years, which introduced economists to behavioral phenomena, including heuristics, biases, and cooperative anomalies.