Introduction to Behavioral Economics
Noneconomic Factors That Shape Economic Decisions
Published on 28. February 2014
Book
Paperback/Softback
528 pages
978-0-470-59622-7 (ISBN)
Description
With the rise of behavioral economics courses undergraduates are seeking more formal training and instruction in behavioral economics topics. Introduction to Behavioral Economics covers all the ways consumers and other economic agents behave in an irrational manner, and prepares readers to make rational economic choices.
This book is focused on the broad principles of behavior, which are illustrated using real-world examples, examples from experimental literature, as well as experiential examples. All examples are drawn from news items, historical accounts and the economics literature. Experimental examples are drawn from the economics literature and are in the form of classroom experiments that complement the principles of the book.
More details
Edition
1. Auflage
Language
English
Place of publication
New York
United States
Target group
College/higher education
Professional and scholarly
Product notice
Paperback (trade)
Unsewn / adhesive bound
Dimensions
Height: 236 mm
Width: 195 mm
Thickness: 20 mm
Weight
764 gr
ISBN-13
978-0-470-59622-7 (9780470596227)
Schweitzer Classification
Person
David Just is Associate Professor and Director of Graduate Studies in the Department of Applied Economics and Management at Cornell University where he regularly teaches undergraduate and graduate courses in econometrics, microeconomics, and behavioral economics. Professor Just's areas of expertise are behavioral economics, risk and uncertainty, and information while his research interests center around the use of information, and more particularly, how differences in human capital and information availability affect decisions.
Just received his Ph.D. from the University of California, Berkeley in 2001.? His professional activities include Board Member, Northeast Agricultural and Resource Economics Association; Committee Member, American Agricultural Economics Association; and Honor Societies, Phi Kappa Phi, Golden Key, Alpha Lambda Delta, Phi Eta Sigma, Omicron Delta Epsilon.
Just received his Ph.D. from the University of California, Berkeley in 2001.? His professional activities include Board Member, Northeast Agricultural and Resource Economics Association; Committee Member, American Agricultural Economics Association; and Honor Societies, Phi Kappa Phi, Golden Key, Alpha Lambda Delta, Phi Eta Sigma, Omicron Delta Epsilon.
Content
Preface xv
1 Rationality, Irrationality, and Rationalization 1
Part 1 Consumer Purchasing Decisions
2 Transaction Utility and Consumer Pricing 17
3 Mental Accounting 41
4 Status Quo Bias and Default Options 70
5 The Winner's Curse and Auction Behavior 93
Part 2 Information and Uncertainty
6 Bracketing Decisions 125
7 Representativeness and Availability 156
8 Confirmation and Overconfidence 187
9 Decision under Risk and Uncertainty 214
10 Prospect Theory and Decision under Risk or Uncertainty 250
Part 3 Time Discounting and the Long and Short Run
11 Disagreeing with Ourselves: Projection and Hindsight Biases 281
12 Naïve Procrastination 309
13 Committing and Uncommitting 347
Part 4 Social Preferences
14 Selfishness and Altruism 389
15 Fairness and Psychological Games 417
16 Trust and Reciprocity 450
Glossary 473
Index 495