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Introduction to Behavioral Economics 2nd ed. 2012 [Pehme köide]

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  • Formaat: Paperback / softback, 592 pages, kõrgus x laius: 246x189 mm, kaal: 1143 g, 592 p., 1 Paperback / softback
  • Ilmumisaeg: 10-Apr-2012
  • Kirjastus: Palgrave
  • ISBN-10: 0230291465
  • ISBN-13: 9780230291461
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Introduction to Behavioral Economics 2nd ed. 2012Suurem pilt
  • Formaat: Paperback / softback, 592 pages, kõrgus x laius: 246x189 mm, kaal: 1143 g, 592 p., 1 Paperback / softback
  • Ilmumisaeg: 10-Apr-2012
  • Kirjastus: Palgrave
  • ISBN-10: 0230291465
  • ISBN-13: 9780230291461
Teised raamatud teemal:
Püsilink: https://www.kriso.ee/db/9780230291461.html
Märksõnad:
An Introduction to Behavioral Economics offers a comprehensive, rigorous, and up-to-date introduction to what is one of the most rapidly advancing areas in economics today. It considers the debates in this exciting field through a cross-disciplinary approach that incorporates insights from economics and other social sciences, as well as evolutionary biology and neuroscience.

This edition features:
- Two new chapters, Chapter 2 on methodology and Chapter 4 on beliefs, heuristics and biases
- Fully revised content, including expanded material on neuroeconomics, rationality, and behavioral game theory
- A large number of real-life case studies and examples, as well as review questions

Arvustused

"The second volume expands, and brings up to date, this engaging and erudite introduction to the field of behavioral economics. By providing their own unique and interesting perspective on the material they review, the authors succeed at the difficult task of holding the reader's interest while providing remarkably comprehensive coverage. This book will help readers to share in the excitement of those currently working in the field." George Loewenstein, Carnegie Mellon University, USA "This book provides an excellent overview of the most important advancements in the field of behavioural and experimental economics. It is a brilliant textbook for social researchers, as well as for students interested in this exciting area." Michalis Drouvelis, University of Birmingham, UK "Behavioral Economics is a wonderful introduction to the emerging field of behavioral economics to advanced undergraduates and masters students alike. It has a comprehensive treatment of individual decision-making, while also covering the more recent developments in behavioral game theory." Miguel A. Fonseca, University of Exeter, UK "Behavioural economics has gone mainstream. With its new status comes the demand for it in the undergraduate curriculum. Introduction to Behavioral Economics is comprehensive, while presented with the minimum technical fuss and replete with examples that are easy to relate to. All in all, it should prove to be a very useful and accessible introductory text at the undergraduate level." Sujoy Mukerji, Oxford University, UK 'This book is highly valuable for the field of behavioral economics as it gives a comprehensive overview of both individual decision making and decision making in strategic settings with at least two individuals. It serves very well not only for teaching to graduate and undergraduate students, but also as a reference for specialists.' Kirsten I.M. Rohde, Erasmus School of Economics, Erasmus University Rotterdam, the Netherlands "This edition has the full potential to continue to serve as a leading textbook in the field of behavioral economics. Its intuitive structure, comprehensive coverage of the topics, and discussion-stimulating case studies will be highly appreciated by the reader. It is rare that a second edition offers such a dramatic improvement, both pedagogically and content-wise. In addition to being a premier text for the upper level undergraduate and graduate students, it is an outstanding reference book for any researcher in the field." Natalia V. Czap, University of Michigan, USA

Muu info

"The second volume expands, and brings up to date, this engaging and erudite introduction to the field of behavioral economics. By providing their own unique and interesting perspective on the material they review, the authors succeed at the difficult task of holding the reader's interest while providing remarkably comprehensive coverage. This book will help readers to share in the excitement of those currently working in the field." George Loewenstein, Carnegie Mellon University, USA "This book provides an excellent overview of the most important advancements in the field of behavioural and experimental economics. It is a brilliant textbook for social researchers, as well as for students interested in this exciting area." Michalis Drouvelis, University of Birmingham, UK "Behavioral Economics is a wonderful introduction to the emerging field of behavioral economics to advanced undergraduates and masters students alike. It has a comprehensive treatment of individual decision-making, while also covering the more recent developments in behavioral game theory." Miguel A. Fonseca, University of Exeter, UK "Behavioural economics has gone mainstream. With its new status comes the demand for it in the undergraduate curriculum. Introduction to Behavioral Economics is comprehensive, while presented with the minimum technical fuss and replete with examples that are easy to relate to. All in all, it should prove to be a very useful and accessible introductory text at the undergraduate level." Sujoy Mukerji, Oxford University, UK 'This book is highly valuable for the field of behavioral economics as it gives a comprehensive overview of both individual decision making and decision making in strategic settings with at least two individuals. It serves very well not only for teaching to graduate and undergraduate students, but also as a reference for specialists.' Kirsten I.M. Rohde, Erasmus School of Economics, Erasmus University Rotterdam, the Netherlands "This edition has the full potential to continue to serve as a leading textbook in the field of behavioral economics. Its intuitive structure, comprehensive coverage of the topics, and discussion-stimulating case studies will be highly appreciated by the reader. It is rare that a second edition offers such a dramatic improvement, both pedagogically and content-wise. In addition to being a premier text for the upper level undergraduate and graduate students, it is an outstanding reference book for any researcher in the field." Natalia V. Czap, University of Michigan, USA
List of Flgures
viii
List of Tables
ix
Preface x
Acknowledgments xiii
Part I Introduction
Chapter 1 Nature of Behavioral Economics
1.1 Behavioral economics and the standard model
2(10)
1.2 History and evolution of behavioral economics
12(3)
1.3 Relationship with other disciplines
15(4)
1.4 Objectives, scope and structure
19(1)
1.5 Summary
20(1)
1.6 Review questions
20(1)
1.7 Applications
20(9)
Case 1.1 Loss aversion in monkeys
21(2)
Case 1.2 Money illusion
23(3)
Case 1.3 Altruism - the joy of giving
26(3)
Chapter 2 Methodology
2.1 Theories
29(7)
2.2 Evidence
36(9)
2.3 Consilience
45(7)
2.4 Summary
52(1)
2.5 Review questions
53(1)
2.6 Applications
53(11)
Case 2.1 Do economists need brains?
53(4)
Case 2.2 Riots in the UK
57(7)
Part II Foundations
Chapter 3 Values, Preferences and Choices
3.1 The standard model
64(4)
3.2 Axioms, assumptions and definitions
68(3)
3.3 The evolutionary biology of utility
71(3)
3.4 Broadening rationality
74(12)
3.5 Types of Utility
86(7)
3.6 The neuroscientific basis of utility
93(4)
3.7 Policy implications
97(5)
3.8 Summary
102(1)
3.9 Review questions
103(1)
3.10 Applications
104(13)
Case 3.1 Drug addiction
104(1)
Case 3.2 When abstention is better than moderate consumption
105(4)
Case 3.3 Environmental protection
109(1)
Case 3.4 The way the brain buys
109(8)
Chapter 4 Beliefs, Heuristics and Biases
4.1 The standard model
117(2)
4.2 Probability estimation
119(5)
4.3 Self-evaluation bias
124(5)
4.4 Projection bias
129(1)
4.5 Magical beliefs
130(2)
4.6 Causes of irrationality
132(8)
4.7 Summary
140(1)
4.8 Review questions
140(1)
4.9 Review problems
141(1)
4.10 Applications
141(7)
Case 4.1 Fakes and honesty
141(2)
Case 4.2 Trading on testosterone
143(1)
Case 4.3 Celebrity contagion and imitative magic
143(5)
Chapter 5 Decision-making under Risk and Uncertainity
5.1 Background
148(7)
5.2 Conventional approaches to modifying EUT
155(5)
5.3 Prospect theory
160(4)
5.4 Reference points
164(3)
5.5 Loss-aversion
167(4)
5.6 Shape of the utility function
171(5)
5.7 Decision-weighting
176(12)
5.8 Criticisms of prospect theory
188(9)
5.9 Recent theories and conclusions
197(10)
5.10 Summary
207(1)
5.11 Review questions
208(1)
5.12 Review problems
209(1)
5.13 Applications
210(9)
Case 5.1 The endowment effect
210(3)
Case 5.2 Insensitivity to bad income news
213(2)
Case 5.3 Loss-aversion in golf
215(4)
Chapter 6 Mental Accounting
6.1 Nature and components of mental accounting
219(1)
6.2 Framing and editing
220(5)
6.3 Budgeting and fungibility
225(8)
6.4 Choice bracketing and dynamics
233(6)
6.5 Policy implications
239(10)
6.6 Summary
249(1)
6.7 Review questions
250(1)
6.8 Applications
251(10)
Case 6.1 The equity premium puzzle
251(3)
Case 6.2 Why you can't find a cab on a rainy day
254(3)
Case 6.3 Consumer spending and housing wealth
257(4)
Part III Intertemporal Choice
Chapter 7 The Discounted Utility Model
7.1 Introduction
261(1)
7.2 Origins of the DUM
262(3)
7.3 Features of the DUM
265(4)
7.4 Methodology
269(4)
7.5 Anomalies in the DUM
273(5)
7.6 Summary
278(1)
7.7 Review questions
278(1)
7.8 Applications
279(6)
Case 7.1 Empirical estimates of discount rates
279(6)
Chapter 8 Alternative Intertemporal Choice Models
8.1 Time preference
285(6)
8.2 Time inconsistent preferences
291(2)
8.3 Hyperbolic discounting
293(8)
8.4 Modifying the instantaneous utility function
301(4)
8.5 More radical models
305(5)
8.6 Empirical evidence
310(5)
8.7 Policy implications
315(9)
8.8 Summary
324(1)
8.9 Review questions
325(1)
8.10 Applications
326(10)
Case 8.1 Price plans for gym memberships
326(1)
Case 8.2 The savings problem
327(5)
Case 8.3 The desire for rising consumption profiles
332(4)
Part IV Strategic Interaction
Chapter 9 Behavioral Game Theory
9.1 Nature of behavioral game theory
336(6)
9.2 Equilibrium
342(8)
9.3 Mixed strategies
350(8)
9.4 Bargaining
358(7)
9.5 Iterated games
365(7)
9.6 Signaling
372(5)
9.7 Learning
377(5)
9.8 Summary
382(1)
9.9 Review questions
383(1)
9.10 Review problems
384(1)
9.11 Applications
385(8)
Case 9.1 Penalty kicking in professional soccer
385(2)
Case 9.2 Impasses in bargaining
387(1)
Case 9.3 Market entry in monopoly
388(5)
Chapter 10 Social Preferences
10.1 The standard model
393(3)
10.2 The nature of social preferences
396(9)
10.3 Factors affecting social preferences
405(12)
10.4 Modeling social preferences
417(4)
10.5 Inequality-aversion models
421(4)
10.6 Reciprocity models
425(5)
10.7 Empirical evidence
430(11)
10.8 Policy implications
441(6)
10.9 Summary
447(1)
10.10 Review questions
448(1)
10.11 Applications
449(12)
Case 10.1 The Wason Test
449(4)
Case 10.2 Public goods and free riding
453(2)
Case 10.3 Sales force compensation
455(2)
Case 10.4 Too much virtue is a vice
457(4)
Part V Conclusion
Chapter 11 Behavioral Economics: Summary and Outlook
11.1 The agenda of behavioral economics
461(2)
11.2 Criticisms of behavioral economics
463(2)
11.3 Methodology
465(5)
11.4 Are we really irrational?
470(5)
11.5 Welfare and happiness
475(5)
11.6 Problems in pursuing happiness
480(4)
11.7 Policy implications
484(7)
11.8 Future directions for behavioral economics
491(4)
11.9 Applications
495(9)
Case 11.1 The effects of brain damage on decision-making
495(2)
Case 11.2 Pursuing happiness
497(2)
Case 11.3 The bioeconomic causes of war
499(3)
Case 11.4 How to get children to eat vegetables
502(2)
Bibliography 504(55)
Index 559
NICK WILKINSON is Professor at Richmond the American International University in London and has taught economics and finance in various international institutions in the UK and USA. He has also worked in business management in both countries and served as a consultant to many companies, mainly in the leisure industry. He has authored two books, 'Managerial Economics: A Problem-Solving Approach', published by Cambridge University Press (2005), and 'An Introduction to Behavioral Economics', published by Palgrave Macmillan (2007), now in its second edition. His research interests lie in that field, particularly in the implications of evolutionary biology and neuroscience for behavioral economics.

MATTHIAS KLAES is Professor and Dean of the School of Business at the University of Dundee, UK, as well as Convenor of the Scottish Centre for Economic Methodology (SCEME). Having studied at universities in Germany, Holland, France, Scotland, and England, he has got a background in engineering, economics and management studies, as well as science studies. He has served as Managing Editor of the Journal for Economic Methodology, and has acted as adviser to both private and public sector bodies. Before joining Dundee he was Professor of Commerce at Keele University, and Reader in Economics at the University of Stirling. He publishes widely in new institutional and behavioral economics, and economic and management methodology.