Description
Behavioral Economics (3rd Ed.)
Routledge Advanced Texts in Economics and Finance Series
Author: Cartwright Edward
Language: EnglishSubjects for Behavioral Economics:
Keywords
Present Bias; psychology; Nash Equilibrium; well-being; Threshold Public Good Game; nudge; Reference Dependent Utility; happiness; Ultimatum Game; neuroeconomics; Buy Sell Imbalance; heterodox; Linear Public Good Game; behavioural economics; Weakest Link Game; altruism; Inequality Aversion; emotions; Inter-temporal Utility; irrationally; Exponential Discounting; rationally; Behavioral Economics; Dictator Game; Equity Premium Puzzle; Double Auction Market; Public Good Game; Loss Aversion; Allais Paradox; Standard Economic Model; Hot Hand Fallacy; Present Biased Preferences; Projection Bias; Quasi-hyperbolic Discounting; Discount Factor; Instant Utility
Approximative price 160.25 €
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Add to cart the book of Cartwright Edward· 15.6x23.4 cm · Hardback
Description
/li>Contents
/li>Readership
/li>Biography
/li>
Over the last few decades behavioral economics has revolutionized the discipline. It has done so by putting the human back into economics, by recognizing that people sometimes make mistakes, care about others and are generally not as cold and calculating as economists have traditionally assumed. The results have been exciting and fascinating, and have fundamentally changed the way we look at economic behavior.
This textbook introduces all the key results and insights of behavioral economics to a student audience. Ideas such as mental accounting, prospect theory, present bias, inequality aversion and learning are explained in detail. These ideas are also applied in diverse settings such as auctions, stock market crashes, charitable donations and health care, to show why behavioral economics is crucial to understanding the world around us. Consideration is also given to what makes people happy, and how we can potentially nudge people to be happier.
This new edition contains expanded and updated coverage of contract theory, bargaining in the family, time and risk, and stochastic reference points, among other topics, to ensure that readers are kept up to speed with this fast-paced field. The companion website is also updated with a range of new questions and worked examples. This book remains the ideal introduction to behavioral economics for advanced undergraduate and graduate students.
PART I
Introduction
1 An introduction to behavioral economics
PART II
Economic behavior
2 Simple heuristics for complex choices
3 Choice with risk
4 Choosing when to act
5 Learning from new information
6 Interacting with others
7 Social preferences
PART III
Origins of behavior
8 Evolution and culture
9 Neuroeconomics
PART IV
Welfare and policy
10 Happiness and utility
11 Policy and behavior
Edward Cartwright is a Reader in Economics at the University of Kent, Canterbury, UK.