Is Behavioral Economics Doomed
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Is Behavioral Economics Doomed
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Author : David K. Levine
language : en
Publisher: Open Book Publishers
Release Date : 2012
Is Behavioral Economics Doomed written by David K. Levine and has been published by Open Book Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
In this book, David K. Levine questions the idea that behavioral economics is the answer to economic problems. He explores the successes and failures of contemporary economics both inside and outside the laboratory, and asks whether popular behavioral theories of psychological biases are solutions to the failures. The book not only provides an overview of popular behavioral theories and their history, but also gives the reader the tools for scrutinizing them.
Is Behavioral Economics Doomed
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Author : David K. Levine
language : en
Publisher:
Release Date : 2012
Is Behavioral Economics Doomed written by David K. Levine and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Consumers' preferences categories.
It is fashionable to criticize economic theory for focusing too much on rationality and ignoring the imperfect and emotional way in which real economic decisions are reached. All of us facing the global economic crisis wonder just how rational economic men and women can be. Behavioral economics - an effort to incorporate psychological ideas into economics - has become all the rage. In this book, David K. Levine questions the idea that behavioral economics is the answer to economic problems. He explores the successes and failures of contemporary economics both inside and outside the laboratory, and asks whether popular behavioral theories of psychological biases are solutions to the failures. The book not only provides an overview of popular behavioral theories and their history, but also gives the reader the tools for scrutinizing them. Is Behavioral Economics Doomed? is essential reading for students and teachers of economic theory and anyone interested in the psychology of economics.
Is Behavioral Economics Doomed
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Author : David K Levine
language : en
Publisher:
Release Date : 2020-10-09
Is Behavioral Economics Doomed written by David K Levine and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-09 with Business & Economics categories.
It is fashionable to criticize economic theory for focusing too much on rationality and ignoring the imperfect and emotional way in which real economic decisions are reached. All of us facing the global economic crisis wonder just how rational economic men and women can be. Behavioral economics - an effort to incorporate psychological ideas into economics - has become all the rage.This book by well-known economist David K. Levine questions the idea that behavioral economics is the answer to economic problems. It explores the successes and failures of contemporary economics both inside and outside the laboratory. It then asks whether popular behavioral theories of psychological biases are solutions to the failures. It not only provides an overview of popular behavioral theories and their history, but also gives the reader the tools for scrutinizing them.Levine's book is essential reading for students and teachers of economic theory and anyone interested in the psychology of economics. This work was published by Saint Philip Street Press pursuant to a Creative Commons license permitting commercial use. All rights not granted by the work's license are retained by the author or authors.
Is Behavioral Economics Doomed
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Author : David K. Levine
language : en
Publisher:
Release Date : 2012
Is Behavioral Economics Doomed written by David K. Levine and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with BUSINESS & ECONOMICS categories.
It is fashionable to criticize economic theory for focusing too much on rationality and ignoring the imperfect and emotional way in which real economic decisions are reached. All of us facing the global economic crisis wonder just how rational economic men and women can be. Behavioral economics - an effort to incorporate psychological ideas into economics - has become all the rage. In this book, David K. Levine questions the idea that behavioral economics is the answer to economic problems. He explores the successes and failures of contemporary economics both inside and outside the laboratory, and asks whether popular behavioral theories of psychological biases are solutions to the failures. The book not only provides an overview of popular behavioral theories and their history, but also gives the reader the tools for scrutinizing them. Is Behavioral Economics Doomed? is essential reading for students and teachers of economic theory and anyone interested in the psychology of economics.
The Oxford Handbook Of Behavioral Economics And The Law
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Author : Eyal Zamir
language : en
Publisher: Oxford Handbooks
Release Date : 2014
The Oxford Handbook Of Behavioral Economics And The Law written by Eyal Zamir and has been published by Oxford Handbooks this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Business & Economics categories.
'The Oxford Handbook of Behavioral Economics and Law' brings together leading scholars of law, psychology, and economics to provide an up-to-date and comprehensive analysis of this field of research, including its strengths and limitations as well as a forecast of its future development. Its twenty-nine chapters are organized into four parts.
The Community Of Advantage
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Author : Robert Sugden
language : en
Publisher: Oxford University Press
Release Date : 2018-06-14
The Community Of Advantage written by Robert Sugden and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-14 with Business & Economics categories.
The Community of Advantage asks how economists should do normative analysis. Normative analysis in economics has usually aimed at satisfying individuals' preferences. Its conclusions have supported a long- standing liberal tradition of economics that values economic freedom and views markets favourably. However, behavioural research shows that individuals' preferences, as revealed in choices, are often unstable, and vary according to contextual factors that seem irrelevant for welfare. Robert Sugden proposes a reformulation of normative economics that is compatible with what is now known about the psychology of choice. The growing consensus in favour of paternalism and 'nudging' is based on a very different way of reconciling normative economics with behavioural findings. This is to assume that people have well-defined 'latent' preferences which, because of psychologically-induced errors, are not always revealed in actual choices. The economist's job is then to reconstruct latent preferences and to design policies to satisfy them. Challenging this consensus, The Community of Advantage argues that latent preference and error are psychologically ungrounded concepts, and that economics needs to be more radical in giving up rationality assumptions. Sugden advocates a kind of normative economics that does not use the concept of preference. Its recommendations are addressed, not to an imagined 'social planner', but to citizens, viewed as potential parties to mutually beneficial agreements. Its normative criterion is the provision of opportunities for individuals to participate in voluntary transactions. Using this approach, Sugden reconstructs many of the normative conclusions of the liberal tradition. He argues that a well-functioning market economy is an institution that individuals have reason to value, whether or not their preferences satisfy conventional axioms of rationality, and that individuals' motivations in such an economy can be cooperative rather than self-interested.
Dishonesty In Behavioral Economics
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Author : Alessandro Bucciol
language : en
Publisher: Academic Press
Release Date : 2019-06-04
Dishonesty In Behavioral Economics written by Alessandro Bucciol and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-04 with Business & Economics categories.
Dishonesty in Behavioral Economics provides a rigorous and comprehensive overview of dishonesty, presenting state-of-the-art research that adopts a behavioral economics perspective. Throughout the volume, contributors emphasize the effects of psychological, social, and cognitive factors on the decision-making process. In contrast to related titles, Dishonesty in Behavioral Economics emphasizes the importance of empirical research methodologies. Its contributors demonstrate how various methods applied to similar research questions can lead to different results. This characteristic is important because, of course, it is difficult to obtain reliable measures of dishonesty. Reviews many key issues in the literature around lying, cheating, fraudulence, and deception Covers both state-of-the-art methods and data collection mechanisms (e.g., laboratory experiments, field experiments, online surveys) Discusses novel interdisciplinary research findings and from them proposes new avenues of research
Behavioural Economics A Very Short Introduction
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Author : Michelle Baddeley
language : en
Publisher: Oxford University Press
Release Date : 2017-01-19
Behavioural Economics A Very Short Introduction written by Michelle Baddeley and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-19 with Business & Economics categories.
Traditionally economists have based their economic predictions on the assumption that humans are super-rational creatures, using the information we are given efficiently and generally making selfish decisions that work well for us as individuals. Economists also assume that we're doing the very best we can possibly do - not only for today, but over our whole lifetimes too. But increasingly the study of behavioural economics is revealing that our lives are not that simple. Instead, our decisions are complicated by our own psychology. Each of us makes mistakes every day. We don't always know what's best for us and, even if we do, we might not have the self-control to deliver on our best intentions. We struggle to stay on diets, to get enough exercise and to manage our money. We misjudge risky situations. We are prone to herding: sometimes peer pressure leads us blindly to copy others around us; other times copying others helps us to learn quickly about new, unfamiliar situations. This Very Short Introduction explores the reasons why we make irrational decisions; how we decide quickly; why we make mistakes in risky situations; our tendency to procrastination; and how we are affected by social influences, personality, mood and emotions. The implications of understanding the rationale for our own financial behaviour are huge. Behavioural economics could help policy-makers to understand the people behind their policies, enabling them to design more effective policies, while at the same time we could find ourselves assaulted by increasingly savvy marketing. Michelle Baddeley concludes by looking forward, to see what the future of behavioural economics holds for us. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.
Sway
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Author : Ori Brafman
language : en
Publisher: Random House
Release Date : 2010-04-30
Sway written by Ori Brafman and has been published by Random House this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-30 with Business & Economics categories.
Why are we more likely to fall in love when we feel in danger? Why would an experienced pilot disregard his training and the rules of the aviation industry, leading to the deadliest airline crash in history? Why do we find it near-impossible to re-evaluate our first impressions of a person or situation, even when the evidence shows we were wrong? Discover the answers in Sway. We all believe we are rational beings, yet the truth is that we're much more prone to irrational behaviour than we realise or like to admit. In this compelling book, Ori and Rom Brafman reveal why. Looking at irrational behaviour in fields as diverse as medicine, archaeology and the legal system, they chart the psychological undercurrents that influence even our most basic decisions. In doing so they draw on the latest research in social psychology and behavioural economics to reveal the irresistible forces that sway us all. Sway is a fascinating insight into the way we all behave and will change the way you view the world.
Investor Behavior
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Author : H. Kent Baker
language : en
Publisher: John Wiley & Sons
Release Date : 2014-02-10
Investor Behavior written by H. Kent Baker and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-10 with Business & Economics categories.
WINNER, Business: Personal Finance/Investing, 2015 USA Best Book Awards FINALIST, Business: Reference, 2015 USA Best Book Awards Investor Behavior provides readers with a comprehensive understanding and the latest research in the area of behavioral finance and investor decision making. Blending contributions from noted academics and experienced practitioners, this 30-chapter book will provide investment professionals with insights on how to understand and manage client behavior; a framework for interpreting financial market activity; and an in-depth understanding of this important new field of investment research. The book should also be of interest to academics, investors, and students. The book will cover the major principles of investor psychology, including heuristics, bounded rationality, regret theory, mental accounting, framing, prospect theory, and loss aversion. Specific sections of the book will delve into the role of personality traits, financial therapy, retirement planning, financial coaching, and emotions in investment decisions. Other topics covered include risk perception and tolerance, asset allocation decisions under inertia and inattention bias; evidenced based financial planning, motivation and satisfaction, behavioral investment management, and neurofinance. Contributions will delve into the behavioral underpinnings of various trading and investment topics including trader psychology, stock momentum, earnings surprises, and anomalies. The final chapters of the book examine new research on socially responsible investing, mutual funds, and real estate investing from a behavioral perspective. Empirical evidence and current literature about each type of investment issue are featured. Cited research studies are presented in a straightforward manner focusing on the comprehension of study findings, rather than on the details of mathematical frameworks.