we speak with richard thaler on the this behavior of you being rational.oomberg surveillance." live from new york, it is thursday, june 4, joining me is brendan greeley. brendan: i am looking at a report from merrill lynch. the effects on qatar should they lose the world cup would be small. tom: we are trying to do fifa less and less today. right now bank of england out with our breaking news. they maintain the purchase plan acid expected. -- as expected. governor carney will not have a press conference as we saw with markets moving yesterday. bank of england, sterling -- headlines this morning. vonnie: the global bond islam is deepening, the seller has a raised this year's gains. german bonds falling a fourth straight day. a forecast of faster revelation by the president of the arabian central bank, mario draghi warning investors to be ready for market volatility appeared no deal in the greek debt crisis despite another route of high-level talks, the trimester is rejecting a proposal from european lenders. he says his government plans are the only realist

. >> reporter: millennium park richard thaler an academic revolutionary, who thinks his field economics, has a weirdly distorted view of human behavior that we're all rational maximizers, mathematical machines, who use our unusually big brains to wisely calculate every decision as we strive to get to the top, thus creating perfect markets to make us better off. yet, says thaler-- >> after the '87 crash, when the market fell 20% in a day, and the internet bubble, when the nasdaq went from 5,000 to 1400, and then the real estate bubble, which led to a financial crisis from which we're still trying to extricate ourselves the idea that markets work perfectly is no longer tenable. >> reporter: thaler is running his revolution from inside the belly of the beast-- the university of chicago, which boasts 28 nobel laureates practiced in traditional economics. collectively, they've created what's known as the "chicago school," pred predicated on the perfect efficiency of markets in which prices rationally reflect all available information. but at a lunch with star students thaler offered his late