Behavioral Economics

Author: Philip Corr

Publisher: Routledge

ISBN: 9781315391205

Category: Business & Economics

Page: 248

View: 733

Behavioral economics is everywhere – whether used by governments to shape our judgement and decision making, advertisers and marketers to sell products, or even politicians to sell policies, its insights are important and far-reaching. Behavioral Economics: The Basics is the first book to provide a rigorous yet accessible overview of the growing field that attempts to uncover the psychological processes which mediate all the economic judgements and decisions we make. In seven accessible chapters, the book answers questions like: What is behavioral economics? How does it help us to understand economic behavior? What does it tell us about how people form judgements and make decisions in their private and public lives? What does it tell us about the psychological nature of financial catastrophes that afflict our economic system? With recommended further readings throughout, Behavioral Economics: The Basics is essential for all students taking courses in behavioral economics, economic psychology, consumer psychology, microeconomics and game theory, and also for professionals looking for an accessible introduction to the topic. Further online resources may be found at
Behavioural Economics

Author: Michelle Baddeley

Publisher: Oxford University Press

ISBN: 9780198754992

Category: Business & Economics

Page: 169

View: 914

Economics and behaviour -- Motivation and incentives -- Social lives -- Quick thinking -- Risky choices -- Taking time -- Personalities, moods, and emotions -- Behaviour in the macroeconomy -- Economic behaviour and public policy
Real-World Decision Making: An Encyclopedia of Behavioral Economics

Author: Morris Altman

Publisher: ABC-CLIO

ISBN: 9781440828164

Category: Business & Economics

Page: 499

View: 939

The first and only encyclopedia to focus on the economic and financial behaviors of consumers, investors, and organizations, including an exploration of how people make good—and bad—economic decisions. • Contains an informative introductory essay that familiarizes students with the various aspects of behavioral economics • Provides a list of additional readings for those interested in learning more about the topic • Includes cross-references in each entry to help readers make connections between related topics • Defines key terms that are likely to be unfamiliar to those without advance knowledge of the subject • Helps readers identify and study particular entry categories through accompanying Topic Finders
Behavioural Economics and Finance

Author: Michelle Baddeley

Publisher: Routledge

ISBN: 9781351813990

Category: Business & Economics

Page: 344

View: 401

Behavioural economics and behavioural finance are rapidly expanding fields that are continually growing in prominence. While orthodox economic models are built upon restrictive and simplifying assumptions about rational choice and efficient markets, behavioural economics offers a robust alternative using insights and evidence that rest more easily with our understanding of how real people think, choose and decide. This insightful textbook introduces the key concepts from this rich, interdisciplinary approach to real-world decision-making. This new edition of Behavioural Economics and Finance is a thorough extension of the first edition, including updates to the key chapters on prospect theory; heuristics and bias; time and planning; sociality and identity; bad habits; personality, moods and emotions; behavioural macroeconomics; and well-being and happiness. It also includes a number of new chapters dedicated to the themes of incentives and motivations, behavioural public policy and emotional trading. Using pedagogical features such as chapter summaries and revision questions to enhance reader engagement, this text successfully blends economic theories with cutting-edge multidisciplinary insights. This second edition will be indispensable to anyone interested in how behavioural economics and finance can inform our understanding of consumers’ and businesses’ decisions and choices. It will appeal especially to undergraduate and graduate students but also to academic researchers, public policy-makers and anyone interested in deepening their understanding of how economics, psychology and sociology interact in driving our everyday decision-making.
Producer and Organizational Decision-Making

Author: Hugh Schwartz

Publisher: Archway Publishing

ISBN: 9781480862050

Category: Business & Economics

Page: 114

View: 714

Behavioral economics may be losing its way by basing its analyses essentially on consumers and individuals alone, even though the results are also used to guide producers and other organizations. Producer and Organizational Decision-Making do not always share the same shortcomings as those of consumers and other individuals, according to Hugh Schwartz. Consider the achievements of entrepreneurs like Steve Jobs, Elon Musk and Jeff Bezos, whose behavior seems to have been quite contrary to the findings of behavioral economics. Schwartz argues that we need to examine the behavior of organizations--producers, non-profits and government entities--if we are to understand decisions of society as contexts vary and the size of organizations and their relative importance change. Join the author as he offers a history, analysis and critique of behavioral economics and some advice, perhaps controversial, on how to revitalize the field.
Book Review: Thinking, Fast and Slow by Daniel Kahneman

Author: 50MINUTES.COM,


ISBN: 9782808019934

Category: Business & Economics

Page: 42

View: 206

It can be hard for busy professionals to find the time to read the latest books. Stay up to date in a fraction of the time with this concise guide. Thinking, Fast and Slow, by the Nobel Prize-winning economist Daniel Kahneman, explores the fallacies that can impair human decision-making and the biases that may lead us to act in an irrational way. Kahneman posits that the human mind is governed by two systems of thought, which we lean on in different circumstances, and that our perception can be shaped by a host of outside influences. Thinking, Fast and Slow is an acclaimed international bestseller, with over one and a half million copies sold to date and glowing reviews from outlets including The Economist, The New York Times and The Wall Street Journal. Along with Amos Tversky, Kahneman has carried out pioneering work on human decision-making, and his collaboration with the Nobel Prize-winning economist Richard Thaler has played a key role in the development of the burgeoning field of behavioural economics. This book review and analysis is perfect for: • Students of psychology • Anyone who wants to understand how we really make decisions • Anyone with an interest in the principles behind human thought processes About 50MINUTES.COM | BOOK REVIEW The Book Review series from the 50Minutes collection is aimed at anyone who is looking to learn from experts in their field without spending hours reading endless pages of information. Our reviews present a concise summary of the main points of each book, as well as providing context, different perspectives and concrete examples to illustrate the key concepts.
Routledge Handbook of Behavioral Economics

Author: Roger Frantz

Publisher: Routledge

ISBN: 9781317589235

Category: Business & Economics

Page: 434

View: 445

There is no doubt that behavioral economics is becoming a dominant lens through which we think about economics. Behavioral economics is not a single school of thought but representative of a range of approaches, and uniquely, this volume presents an overview of them. The wide spectrum of international contributors each provides an exploration of a central approach, aspect or topic in behavorial economics. Taken together, the whole volume provides a comprehensive overview of the subject which considers both key developments and future possibilities. Part One presents several different approaches to behavioural economics, including George Katona, Ken Boulding, Harvey Leibenstein, Vernon Smith, Herbert Simon, Gerd Gigerenzer, Daniel Kahneman, and Richard Thaler. This section looks at the origins and development of behavioral economics and compares and contrasts the work of these scholars who have been so influential in making this area so prominent. Part Two presents applications of behavioural economics including nudging; heuristics; emotions and morality; behavioural political economy, education, and economic innovation. The Routledge Handbook of Behavioral Economics is ideal for advanced economics students and faculty who are looking for a complete state-of-the-art overview of this dynamic field.
Summary, Analysis & Review of Michael Lewis’s The Undoing Project by Instaread

Author: Instaread

Publisher: Instaread

ISBN: 9781683786634

Category: Study Aids

Page: 41

View: 947

Summary, Analysis & Review of Michael Lewis’s The Undoing Project by Instaread Preview: The Undoing Project: A Friendship that Changed Our Minds explores the relationship and psychological theories of two Israeli academics, Daniel Kahneman and Amos Tversky, whose ideas about human judgment and decision-making established the field of behavioral economics. The two men’s collaborative work began with an audacious premise: that humans are not rational decision-makers. Rational decision-making was the cornerstone of both the psychology of decision-making and the field of economics in the 1970s, but Kahneman and Tversky asserted that people’s judgment was swayed by their emotions, not their intellects. They tested this theory in a variety of ways, which led them to co-write a series of influential papers about judgment and how decisions are made. The sheer force of these concepts was such that, although they ran contrary to conventional wisdom, people instantly comprehended their truth. They soon became academic stars, although Tversky’s accolades came much faster… PLEASE NOTE: This is a Summary, Analysis & Review of the book and NOT the original book. Inside this Summary, Analysis & Review of Michael Lewis’s The Undoing Project by Instaread: · Overview of the Book · Important People · Key Takeaways · Analysis of Key Takeaways About the Author With Instaread, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience. Visit our website at
The Essential Tversky

Author: Amos Tversky

Publisher: MIT Press

ISBN: 9780262535106

Category: Psychology

Page: 396

View: 249

Some of the best and most influential papers by Amos Tversky, one of the most brilliant social science thinkers of the twentieth century. Amos Tversky (1937–1996) was a towering figure in the cognitive and decision sciences. His work was ingenious, exciting, and influential, spanning topics from intuition to statistics to behavioral economics. His long and extraordinarily productive collaboration with his friend and colleague Daniel Kahneman was the subject of Michael Lewis's best-selling book, The Undoing Project: A Friendship that Changed Our Minds. The Essential Tversky offers a selection of Tversky's best, most influential and accessible papers, “classics” chosen to capture the essence of Tversky's thought. The impact of Tversky's work is far reaching and long-lasting. In 2002, Kahneman, who drew on their joint work in his much-praised 2013 book, Thinking, Fast and Slow (and who contributes an afterword to this collection), was awarded the Nobel Prize in Economics for work done with Tversky. In The Undoing Project, Lewis (who contributes a foreword to this collection) describes his discovery that Tversky and Kahneman's thinking laid the foundation for Moneyball, his own ode to number-crunching. The papers collected in The Essential Tversky cover topics that include cognitive and perceptual bias, misguided beliefs, inconsistent preferences, risky choice and loss aversion decisions, and psychological common sense. Together, they offer nonspecialist readers an introduction to one of the most brilliant social science thinkers of the twentieth century.
An Introduction to Behavioral Economics

Author: Nick Wilkinson

Publisher: Bloomsbury Publishing

ISBN: 9781137524126

Category: Business & Economics

Page: 616

View: 975

The third edition of this successful textbook is a comprehensive, rigorous survey of the major topics in the field of behavioral economics. Building on the strengths of the second edition, it offers an up-to-date and critical examination of the latest literature, research, developments and debates in the field. Offering an inter-disciplinary approach, the authors incorporate psychology, evolutionary biology and neuroscience into the discussions. And, ultimately, they consider what it means to be 'rational', why we so often indulge in 'irrational' and self-harming behavior, and also why 'irrational' behavior can sometimes serve us well. A perfect book for economics students studying behavioural economics at higher undergraduate level or Master's level. This new edition features: - Extended material on heuristics and biases, and new material on neuroeconomics and its applications - A wealth of new topical case studies, such as voting behavior in Brexit and the Trump election and the current obesity epidemic - More examples and review questions to help cement understanding