The Rational Foundations Of Economic Behaviour
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The Rational Foundations Of Economic Behaviour
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Author : Kenneth Joseph Arrow
language : en
Publisher: Palgrave MacMillan
Release Date : 1999
The Rational Foundations Of Economic Behaviour written by Kenneth Joseph Arrow and has been published by Palgrave MacMillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.
This volume comprises fourteen essays, which identify four areas in which theoretical and empirical developments are discusses for the fuller understanding of personal (as opposed to collective) behavior with economic objectives: rational choice and associated problems of logic; rationality as explained by game theory; experiments to elucidate rational behavior; and alternatives of rationality in decision-making theory.
Understanding Economic Behaviour
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Author : Klaus Günter Grunert
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Understanding Economic Behaviour written by Klaus Günter Grunert and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
may be related to another basic assumption in economic psychology: that the human capacity to process information from the environment is limited, and that the kind of optimal use of that information postulated in many economic theories is therefore not possible. The research methods used are mainly geared towards empirical research, and there mostly towards survey research and experimentation. Experimentation involves most often simulated behaviour in a laboratory, which allows the experimental manipulation of possible causes of behaviour which would not be possible in real life. Survey research is the most widely used instrument for investigating real-world behaviour, with all its caveats about establishing causal explanations. Several introductory books (e. g. , Fumham & Lewis, 1986; Lea, Tarpy, & Webley, 1987; van Raaij, van Veldhoven, & Wlimeryd, 1988) and articles (e. g. , van Raaij, 1979; Wiswede, 1988) have appeared recently, which try to give an overview of the field of economic psychology, and which, in varying degrees, demonstrate the three foundations of economic psychology just mentioned. Others have concentrated on certain subtopics, such as the psychology of the labour market (e. g. , Baxter, 1988; Pelzmann, 1986).
The Foundations Of Behavioral Economic Analysis
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Author : Sanjit Dhami
language : en
Publisher: Oxford University Press, USA
Release Date : 2020-01-02
The Foundations Of Behavioral Economic Analysis written by Sanjit Dhami and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-02 with Decision making categories.
This fifth volume of The Foundations of Behavioral Economic Analysis covers behavioral models of learning. It is an essential guide for advanced undergraduate and postgraduate students seeking a concise and focused text on this important subject, and examines heuristics and biases in judgment and decision making, mental accounting, and behavioral finance and bounded rationality. This updated extract from Dhami's leading textbook allows the reader to pursue subsections of this vast and rapidly growing field and to tailor their reading to their specific interests in behavioral economics.
Game Theory Experience Rationality
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Author : W. Leinfellner
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-06-29
Game Theory Experience Rationality written by W. Leinfellner and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-29 with Business & Economics categories.
When von Neumann's and Morgenstern's Theory of Games and Economic Behavior appeared in 1944, one thought that a complete theory of strategic social behavior had appeared out of nowhere. However, game theory has, to this very day, remained a fast-growing assemblage of models which have gradually been united in a new social theory - a theory that is far from being completed even after recent advances in game theory, as evidenced by the work of the three Nobel Prize winners, John F. Nash, John C. Harsanyi, and Reinhard Selten. Two of them, Harsanyi and Selten, have contributed important articles to the present volume. This book leaves no doubt that the game-theoretical models are on the right track to becoming a respectable new theory, just like the great theories of the twentieth century originated from formerly separate models which merged in the course of decades. For social scientists, the age of great discover ies is not over. The recent advances of today's game theory surpass by far the results of traditional game theory. For example, modem game theory has a new empirical and social foundation, namely, societal experiences; this has changed its methods, its "rationality. " Morgenstern (I worked together with him for four years) dreamed of an encompassing theory of social behavior. With the inclusion of the concept of evolution in mathematical form, this dream will become true. Perhaps the new foundation will even lead to a new name, "conflict theory" instead of "game theory.
The Moral Foundation Of Economic Behavior
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Author : David C. Rose
language : en
Publisher: OUP USA
Release Date : 2011-11-25
The Moral Foundation Of Economic Behavior written by David C. Rose and has been published by OUP USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-11-25 with Business & Economics categories.
It then identifies specific characteristics that moral beliefs must have for the people who possess them to be regarded as trustworthy.
Handbook Of Contemporary Behavioral Economics
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Author : Morris Altman
language : en
Publisher: Routledge
Release Date : 2015-01-30
Handbook Of Contemporary Behavioral Economics written by Morris Altman and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-01-30 with Business & Economics categories.
At a time when both scholars and the public demand explanations and answers to key economic problems that conventional approaches have failed to resolve, this groundbreaking handbook of original works by leading behavioral economists offers the first comprehensive articulation of behavioral economics theory. Borrowing from the findings of psychologists, sociologists, political scientists, legal scholars, and biologists, among others, behavioral economists find that intelligent individuals often tend not to behave as effectively or efficiently in their economic decisions as long held by conventional wisdom. The manner in which individuals actually do behave critically depends on psychological, institutional, cultural, and even biological considerations. "Handbook of Contemporary Behavioral Economics" includes coverage of such critical areas as the Economic Agent, Context and Modeling, Decision Making, Experiments and Implications, Labor Issues, Household and Family Issues, Life and Death, Taxation, Ethical Investment and Tipping, and Behavioral Law and Macroeconomics. Each contribution includes an extensive bibliography.
Cognitive Processes And Economic Behaviour
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Author : Marcello Basili
language : en
Publisher: Routledge
Release Date : 2012-12-06
Cognitive Processes And Economic Behaviour written by Marcello Basili and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
In recent years the understanding of the cognitive foundations of economic behavior has become increasingly important. This volume contains contributions from such leading scholars as Adam Brandenburger, Michael Bacharach and Patrick Suppes. It will be of great interest to academics and researchers involved in the field of economics and psychology as well as those interested in political economy more generally.
Psychology Rationality And Economic Behaviour
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Author : B. Agarwal
language : en
Publisher: Springer
Release Date : 2005-08-03
Psychology Rationality And Economic Behaviour written by B. Agarwal and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-08-03 with Business & Economics categories.
Economics has paid little attention to the psychology of economic behaviour, leading to somewhat simplistic assumptions about human nature. The psychological aspects have typically been reduced to standard utility theory, based on a narrow conception of rationality and self-interest maximization. The contributions in this volume, some focused on analytical models and methodology, others on laboratory and field experiments, challenge these assumptions, and provide novel and complex understandings of human motivation and economic decision-making. With a pioneering introduction by the book's two editors, this volume brings together exciting contributions to a field that is rapidly growing in influence and reach.
Evolutionary Foundations Of Equilibria In Irrational Markets
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Author : Guo Ying Luo
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-11-19
Evolutionary Foundations Of Equilibria In Irrational Markets written by Guo Ying Luo and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-11-19 with Business & Economics categories.
One of the core building blocks of traditional economic theory is the concept of equilibrium, a state of the world in which economic forces are balanced and in the absence of external influences the values of economic variables remain static. Many traditional equilibrium models, or equilibria, are established based on the rational behavior of individuals within financial markets, such as traders, market analysts, and investing firms, and their ability to maximize profits, no matter the cost. Yet what happens when these market participants behave in an irrational manner, and how does this impact economic equilibria? Contemporary economists have agreed that a process similar to Darwin’s Theory of Natural Selection takes over, whereby equilibria are shaped not by the behavior of individual participants but by an environment outside its control (i.e., an environment with little concern for maximizing profits). It is an environment in which those “selected” produce positive financial gains, but have no regard for how it was obtained or underlying motivations—and those participants suffering losses disappear altogether. Evolutionary Foundations of Equilibria in Irrational Markets proves traditional economic equilibria continue to occur despite natural selection in irrational markets. It covers a wide sampling of equilibria under various scenarios, and each chapter addresses the results of these models at an aggregate level. The text is supplemented with charts and figures to drive home key findings and proofs, making it of interest to students and researchers in the areas of economics and behavioral finance.
The Foundations Of Behavioral Economic Analysis
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Author : Sanjit Dhami
language : en
Publisher: Oxford University Press, USA
Release Date : 2020-07-15
The Foundations Of Behavioral Economic Analysis written by Sanjit Dhami and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-07-15 with Economics categories.
This seventh volume of The Foundations of Behavioral Economic Analysis covers a range of topics in behavioral economics. It is an essential guide for advanced undergraduate and postgraduate students seeking a concise and focused text that explores the key areas of emotions in economics, behavioral welfare economics, and neuroeconomics. This updated extract from Dhami's leading textbook allows the reader to pursue subsections of this vast and rapidly growing field and to tailor their reading to their specific interests in behavioral economics.