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.
Contents
- 1 Rationality, Irrationality, and Rationalization
Part 1 Consumer Purchasing Decisions
- 2 Transaction Utility and Consumer Pricing
- 3 Mental Accounting
- 4 Status Quo Bias and Default Options
- 5 The Winner’s Curse and Auction Behavior
Part 2 Information and Uncertainty
- 6 Bracketing Decisions
- 7 Representativeness and Availability
- 8 Confirmation and Overconfidence
- 9 Decision under Risk and Uncertainty
- 10 Prospect Theory and Decision under Risk or Uncertainty
Part 3 Time Discounting and the Long and Short Run
- 11 Disagreeing with Ourselves: Projection and Hindsight Biases
- 12 Naïve Procrastination
- 13 Committing and Uncommitting
Part 4 Social Preferences
- 14 Selfishness and Altruism
- 15 Fairness and Psychological Games
- 16 Trust and Reciprocity
- Glossary
- Index
Book Details
- Paperback: 505 pages
- Publisher: Wiley; 1 edition (November 25, 2013)
- Language: English
- ISBN-10: 0470596228
- ISBN-13: 978-0470596227
- Product Dimensions: 9.2 x 7.5 x 0.8 inches
- List price: $115.95