This book assembles the most important papers on behavioral economics published since around 1990.
Author: Colin F. Camerer
Publisher: Princeton University Press
Twenty years ago, behavioral economics did not exist as a field. Most economists were deeply skeptical--even antagonistic--toward the idea of importing insights from psychology into their field. Today, behavioral economics has become virtually mainstream. It is well represented in prominent journals and top economics departments, and behavioral economists, including several contributors to this volume, have garnered some of the most prestigious awards in the profession. This book assembles the most important papers on behavioral economics published since around 1990. Among the 25 articles are many that update and extend earlier foundational contributions, as well as cutting-edge papers that break new theoretical and empirical ground. Advances in Behavioral Economics will serve as the definitive one-volume resource for those who want to familiarize themselves with the new field or keep up-to-date with the latest developments. It will not only be a core text for students, but will be consulted widely by professional economists, as well as psychologists and social scientists with an interest in how behavioral insights are being applied in economics. The articles, which follow Colin Camerer and George Loewenstein's introduction, are by the editors, George A. Akerlof, Linda Babcock, Shlomo Benartzi, Vincent P. Crawford, Peter Diamond, Ernst Fehr, Robert H. Frank, Shane Frederick, Simon Gächter, David Genesove, Itzhak Gilboa, Uri Gneezy, Robert M. Hutchens, Daniel Kahneman, Jack L. Knetsch, David Laibson, Christopher Mayer, Terrance Odean, Ted O'Donoghue, Aldo Rustichini, David Schmeidler, Klaus M. Schmidt, Eldar Shafir, Hersh M. Shefrin, Chris Starmer, Richard H. Thaler, Amos Tversky, and Janet L. Yellen.
CONTRIBUTIONS TO ECONOMICS Friedel Bolle Michael Carlberg Advances |
Behavioral Economics Essays in Honor of Horst Todt My Springer-Verlag Berlin
Heidelberg GmbH Advances in Behavioral Economics Professor Dr Horst Todt.
Author: Friedel Bolle
Publisher: Springer Science & Business Media
This volume is dedicated to Horst Todt who celebrated his seventieth an niversaryon March 14, 2000. All the contributors know Horst Todt personally and (with the exception of two younger co-authors) have accompanied his scientific career for sev eral years, some as his assistants, some as his colleagues at the Frankfurt or Hamburg University, some as fellow members in scientific societies. All who know him acknowledge inspiring conversations on a broad field of issues often reaching far beyond the scope of economics. Being friendly and entertaining and without exaggerated personal ambition he often initiated work which others completed. In particular the two editors of this volume experienced and enjoyed the stimulating atmosphere at his Chair of Economics at the Hamburg University. We like to remember these scientifically and personally fruitful years under the tutorship of Horst Todt. The editors would like to thank the contributors to this volume for their readiness to cooperate and for the promptness of their delivery.
The Roundtable Series in Behavioral Economics The Roundtable Series in
Behavioral Economics aims to advance research in the new interdisciplinary field
of behavioral economics. Behavioral economics uses facts, models, and methods
Author: Richard H. Thaler
Publisher: Princeton University Press
This book offers a definitive and wide-ranging overview of developments in behavioral finance over the past ten years. In 1993, the first volume provided the standard reference to this new approach in finance--an approach that, as editor Richard Thaler put it, "entertains the possibility that some of the agents in the economy behave less than fully rationally some of the time." Much has changed since then. Not least, the bursting of the Internet bubble and the subsequent market decline further demonstrated that financial markets often fail to behave as they would if trading were truly dominated by the fully rational investors who populate financial theories. Behavioral finance has made an indelible mark on areas from asset pricing to individual investor behavior to corporate finance, and continues to see exciting empirical and theoretical advances. Advances in Behavioral Finance, Volume II constitutes the essential new resource in the field. It presents twenty recent papers by leading specialists that illustrate the abiding power of behavioral finance--of how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena. As with the first volume, it reaches beyond the world of finance to suggest, powerfully, the importance of pursuing behavioral approaches to other areas of economic life. The contributors are Brad M. Barber, Nicholas Barberis, Shlomo Benartzi, John Y. Campbell, Emil M. Dabora, Daniel Kent, François Degeorge, Kenneth A. Froot, J. B. Heaton, David Hirshleifer, Harrison Hong, Ming Huang, Narasimhan Jegadeesh, Josef Lakonishok, Owen A. Lamont, Roni Michaely, Terrance Odean, Jayendu Patel, Tano Santos, Andrei Shleifer, Robert J. Shiller, Jeremy C. Stein, Avanidhar Subrahmanyam, Richard H. Thaler, Sheridan Titman, Robert W. Vishny, Kent L. Womack, and Richard Zeckhauser.
Sunstein's findings and analysis offer lessons for those involved in law and policy who are choosing which method to support as the most effective way to encourage lifestyle changes.
Author: Cass R. Sunstein
This Palgrave Pivot offers comprehensive evidence about what people actually think of “nudge” policies designed to steer decision makers’ choices in positive directions. The data reveal that people in diverse nations generally favor nudges by strong majorities, with a preference for educative efforts – such as calorie labels - that equip individuals to make the best decisions for their own lives. On the other hand, there are significant arguments for noneducational nudges – such as automatic enrollment in savings plans - as they allow people to devote their scarce time and attention to their most pressing concerns. The decision to use either educative or noneducative nudges raises fundamental questions about human freedom in both theory and practice. Sunstein's findings and analysis offer lessons for those involved in law and policy who are choosing which method to support as the most effective way to encourage lifestyle changes.
Introduction In the previous two volumes of the series Advances in Behavioral
Economics, current theory and research ... In this third volume we restrict the
focus to behavioral- economic approaches to the study of substance use and
Author: Leonard Green
Publisher: Greenwood Publishing Group
Researchers in economics, psychology, and pharmacology review recent empirical and theoretical work on behavioral-economic approaches to understanding and altering the use and abuse of alcohol, cigarettes, and other substances. Among the topics they discuss are reducing drug abuse by enriching the e
pp.5–17 Camerer C.F.and Loewenstein G. (2004), “Behavioral Economics: Past,
Present, Future” in Camerer, Loewenstein e Rabin (eds.), Advances in
BehavioralEconomics, Princeton, PrincetonUniversity Press,pp. 3–51 Doherty
M. E.and ...
Author: R. Frantz
An exploration of Friedrich Hayek's contribution to the foundation of behavioural economics, and how his work interacted with and complemented that of his contemporaries. Chapters include detailed discussions of the concept of rationality, psychology and Hayek's philosophical theories as well as the historical context in which he lived and worked.
Behavioral economics: Past, present and future. In C. Camerer, G. Loewenstein,
& M. Rabin (Eds.), Advances in behavioral economics. Princeton, NJ: Princeton
University Press. Camerer, C., Loewenstein, G., & Prelec, D. (2005).
Author: Rhona C. Free
Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Americans are debating the proper role of the government in company bailouts, the effectiveness of tax cuts versus increased government spending to stimulate the economy, and potential effects of deflation. Economists have dealt with such questions for generations, but they have taken on new meaning and significance. Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is intended to meet the needs of several types of readers. Undergraduate students preparing for exams will find summaries of theory and models in key areas of micro and macroeconomics. Readers interested in learning about economic analysis of an issue as well students embarking on research projects will find introductions to relevant theory and empirical evidence. And economists seeking to learn about extensions of analysis into new areas or about new approaches will benefit from chapters that introduce cutting-edge topics. To make the book accessible to undergraduate students, models have been presented only in graphical format (minimal calculus) and empirical evidence has been summarized in ways that do not require much background in statistics or econometrics. It is thereby hoped that chapters will provide both crucial information and inspiration in a non-threatening, highly readable format.
Timeshifted rationality and the law of law's leverage: Behavioral economics
meets behavioral biology. Northwestern University ... Behavioral economics
comes of age: A review essay of Advances in Behavioral Economics. Journal of
Author: Eyal Zamir
Publisher: Oxford University Press
The past twenty years have witnessed a surge in behavioral studies of law and law-related issues. These studies have challenged the application of the rational-choice model to legal analysis and introduced a more accurate and empirically grounded model of human behavior. This integration of economics, psychology, and law is breaking exciting new ground in legal theory and the social sciences, shedding a new light on age-old legal questions as well as cutting edge policy issues. The Oxford Handbook of Behavioral Economics and Law brings together leading scholars of law, psychology, and economics to provide an up-to-date and comprehensive analysis of this field of research, including its strengths and limitations as well as a forecast of its future development. Its 29 chapters organized in four parts. The first part provides a general overview of behavioral economics. The second part comprises four chapters introducing and criticizing the contribution of behavioral economics to legal theory. The third part discusses specific behavioral phenomena, their ramifications for legal policymaking, and their reflection in extant law. Finally, the fourth part analyzes the contribution of behavioral economics to fifteen legal spheres ranging from core doctrinal areas such as contracts, torts and property to areas such as taxation and antitrust policy.
This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future.
Publisher: North Holland
Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics Written for those who wish to become quickly acquainted with behavioral economics
DETC2005/DAC-84454 Camerer CF, Loewenstein G, Rabin M (2003) Advances
in behavioral economics. Princeton University Press, Princeton, NJ Cameron BG
(2011) Costing commonality: evaluating the impact of platform divergence on ...
Author: Timothy W. Simpson
Publisher: Springer Science & Business Media
Advances in Product Family and Product Platform Design: Methods & Applications highlights recent advances that have been made to support product family and product platform design along with successful applications in industry. This book provides not only motivation for product family and product platform design (i.e., address questions about “why and when should we platform”) but also methods and tools to support the design and development of families of products based on shared platforms (i.e. address the “how” and “what” questions about platforming). It begins with a general overview of product family design to introduce the general reader to the topic and then progress to more advanced topics and design theory to help designers, engineers, and project managers plan, architect, and implement platform-based product development strategies for their company. Finally, successful industry applications provide readers and practitioners with case studies and “talking points” to become platform advocates and leaders within their organization.
Regulation for conservatives: Behavioral economics and the case for “
asymmetric paternalism.” U Penn Law Rev 151:1211–54. Camerer C,
Loewenstein G. 2003. Behavioral economics: Past, present, future. In Advances
in Behavioral ...
Author: Scott Kahan
Publisher: JHU Press
The single greatest way to improve health and quality of life is not by developing new medical approaches, but by addressing harmful personal behaviors. These behaviorsâ€”which include tobacco, alcohol, and drug use, diet, and physical activityâ€”play a significant role in the risk for and development, treatment, and management of the most common causes of disease, disability, and death in the modern world. Health Behavior Change in Populations is designed to teach students and practitioners strategic principles for creating positive behavioral change on a population level. With an emphasis on the application of theory and research to practice, this textbook presents current and future public health professionals with a range of methods geared towards helping people make healthy choices, from informing the individual to modifying the surroundings and circumstances that drive decision-making. Written and edited by experts in the health professions, the book is arranged into three sections: State of the Field, State of the Science, and Cross-Cutting Issues. The chapters within these sections include learning objectives with boldfaced keywords and a glossary of terms. Each chapter addresses The magnitude of the public health burden Key determinants and conceptual framework for behaviors and behavior change, including individual, familial, interpersonal, community, sociocultural, structural, and political perspectives Current evidence-based interventions and best practices Roles for key stakeholders, including health plans, employers/workplace, health departments/agencies, sectors such as recreational and agricultural, policymakers, community groups/advocates, clinics/clinicians, researchers, and funding institutions Considerations for implementation, evaluation, and translation
Advances in Behavioral Economics , Vol . 1 . Norwood , NJ : Ablex . Green , L . ,
Rachlin , H . & Hanson , J . ( 1983 ) . " Matching and maximizing with concurrent
ratio - interval schedules " . Journal of the Experimental Analysis of Behavior , 40
Author: Gordon R. Foxall
Publisher: Palgrave MacMillan
Understanding consumer choice is central to modern marketing, thought and practice. This volume presents a ground-breaking approach to the analysis of brand choice which is relevant to both marketing practice and social science. This unique analysis reveals the causes of consumer choice that underlie patterns of brand selection; the role of price and non-price elements of the marketing mix in influencing brand choice; a novel means of describing the structure of markets in terms of the combination of utilitarian and symbolic benefits consumers obtain from their purchases and a new means of analyzing consumer behaviour in terms of elasticity of demand.
Cambridge : Cambridge University Press . Camerer , C . F . and Loewenstein , G .
( 2004 ) . Behavioral Economics : Past , Present and Future . In C . F . Camerer ,
G . Loewenstein , and M . Rabin ( Eds ) , Advances in Behavioral Economics .
Author: Nick Wilkinson
Publisher: Palgrave MacMillan
This book compares and contrasts the neo-classic standard economics model with the behavioural economics model and shows how the latter attempts to explain the anomalies found in empirical research.
... and Advances in Behavioral Economics. His research interests focus on
people's predictions of their future behavior. Professor Loewenstein has served
on the editorial board of the Journal of Behavioral Decision Theory, Behavior and
Author: Don A. Moore
Publisher: Cambridge University Press
This collection explores the subject of conflicts of interest. It investigates how to manage conflicts of interest, how they can affect well-meaning professionals, and how they can limit the effectiveness of corporate boards, undermine professional ethics, and corrupt expert opinion. Legal and policy responses are considered, some of which (e.g. disclosure) are shown to backfire and even fail. The results offer a sobering prognosis for professional ethics and for anyone who relies on professionals who have conflicts of interest. The contributors are leading authorities on the subject in the fields of law, medicine, management, public policy, and psychology. The nuances of the problems posed by conflicts of interest will be highlighted for readers in an effort to demonstrate the many ways that structuring incentives can affect decision making and organizations' financial well-being.
(2003). Advances in Behavioral Economics. Princeton, NJ: Princeton University
Press. Fehr, Ernst, and Urs Fischbacher. (2002). “Why Social Preferences Matter:
The Impact of Non-selfish Motives on Competition, Cooperation, and Incentives.
Author: David S. Clark
Provides more than seven hundred alphabetical entries covering the interaction of law and society around the globe, including the sociology of law, law and economics, law and political science, psychology and law, and criminology.