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eBook Real-World Decision Making: An Encyclopedia of Behavioral Economics, 1st Edition

  • Published By:
  • ISBN-10: 1440828164
  • ISBN-13: 9781440828164
  • DDC: 330.01
  • Grade Level Range: 9th Grade - College Senior
  • 480 Pages | eBook
  • Original Copyright 2015 | Published/Released April 2016
  • This publication's content originally published in print form: 2015
  • Price:  Sign in for price

About

Overview

Traditional economic theories speculate how and when people should spend money. But consumers don't always behave as expected and often adopt strategies that might appear unorthodox yet are, at times, more effective than the rule prescribed by conventional wisdom. This groundbreaking text examines the ways in which people make financial decisions, whether it is because they are smart but atypical in their choices ... or just irrational decision makers. A leading authority on behavioral economics, author Morris Altman delves into key concepts in economic psychology, behavioral finance, neuroeconomics, and institutional economics to help inform economic models based on reality, not theory. Through 250 informative entries, the book explores various aspects of the subject including decision making, economic analysis, and public policy. In addition to introducing concepts to readers new to the subject, the book sheds light on more advanced financial topics in a manner that is objective, comprehensive, and accessible.

Table of Contents

Front Cover.

Half Title Page.

Title Page.

Copyright Page.

Contents.

Preface.

Introduction.

1: Addiction.

2: Advertising and Behavioral Economics.

3: Akerlof, George 1940–.

4: Allocative Efficiency and X-efficiency.

5: Altruism.

6: Altruistic Punishments.

7: Ambiguity Aversion.

8: Amygdala and Behavioral Economics.

9: Anchoring.

10: Animal Spirits.

11: Anomalies Economic Behavior.

12: Asymmetric Information.

13: Bandwagon Effect.

14: Bargaining Power.

15: Beauty Contest/Guessing Game.

16: Behavioral Economics.

17: Behavioral Finance.

18: Behavioral Insights Team.

19: Behavioral Responses According to In-Depth Interviews.

20: Bounded Rationality.

21: Brain Scans and Behavioral Economics.

22: Broken Windows.

23: Bubbles Dot.Com; Financial Markets; Housing; Tulips.

24: Bubbles Great Depression.

25: Bubbles Markets.

26: Buffet All-You-Can-Eat Behavior.

27: Bullying and Economic Efficiency.

28: Calendar Effect.

29: Capabilities Approach.

30: Carnegie School.

31: Certainty Effect.

32: Charitable Donations.

33: Childhood Effects on Adult Behavior.

34: Coase Theorem, Property Rights, and Endowment Effect.

35: Cognitive Dissonance.

36: Commons, John R. 1862–1945.

37: Communication and Collusion.

38: Complexity and Heuristics.

39: Conjunction Effect.

40: Consumer Confidence.

41: Contingent Valuation.

42: Cooperative Organizations.

43: Creativity.

44: Credit Cycles.

45: Culture and Behavioral Economics.

46: Cyert, Richard 1921–1998.

47: Deception.

48: Decision Cost.

49: Descartes’s Error and the Emotional Brain.

50: Development Economics.

51: Dictator Game.

52: Dictator Game Brief Note.

53: Dilution Effect.

54: Discrimination and Behavioral Economics.

55: Disposition Effect.

56: Diversification Bias.

57: Dual Motive Theory (DMT) and Dual Interest Theory DIT.

58: Duesenberry, James S. 1918–2009.

59: Ecological Rationality.

60: Economic Psychology.

61: Economic Science Association.

62: Economic Sociology.

63: Efficiency Wage Hypothesis.

64: Efficient Market Hypothesis.

65: Emotions and Decision Making.

66: Emotions and Phineas Gage.

67: Endowment Effect.

68: Entrepreneurship.

69: Envy.

70: Equity Premium Puzzle.

71: Errors and Biases.

72: Ethical Consumption.

73: Ethical Production.

74: Evolutionary Economics.

75: Evolutionary Mismatch.

76: Expectations Rational and Adaptive.

77: Expected Utility and Behavioral Economics.

78: Experimental Design.

79: Experimental Economics.

80: Experimental Economics Software: Z-Tree Zurich Toolbox for Readymade Economic Experiments.

81: Experiments Classroom.

82: Experiments Field.

83: Experiments Incentives.

84: Fair Wage.

85: Fairness.

86: Fast and Frugal Decision Trees.

87: Fast and Frugal Heuristics.

88: Fat Tails.

89: Faux Currency.

90: Feminist and Behavioral Economics.

91: Financial Literacy.

92: Firm Behavioral Theory.

93: Framing.

94: Frank, Robert H. 1945–.

95: Gambler’s Fallacy.

96: Gambling Behavior.

97: Game Theory Behavioral/Cooperative.

98: Gender Differences.

99: Genoeconomics.

100: Gigerenzer, Gerd 1947–.

101: Golden Rule, Cooperation, and Productivity.

102: Greenwald-Stiglitz Theorem and Behavioral Economics.

103: Habits.

104: Happiness.

105: Happiness and Productivity.

106: Hayek, Friedrich 1899–1992.

107: Health Economics.

108: Heckman, James 1944–.

109: Hedonic Treadmill.

110: Herding.

111: Heterogeneous Agents.

112: Heuristics.

113: Honesty.

114: Household Decisions.

115: Human Rights and Decision Making.

116: Hyperbolic Discounting.

117: IAREP International Association for Research in Economic Psychology.

118: ICABEEP International Confederation for the Advancement of Behavioral Economics and Economic Psychology.

119: Identity Economics.

120: Ignorance of Base Rates.

121: Impulsive Behavior.

122: Inefficient Markets.

123: Inequity Aversion.

124: Institutional Economics.

125: Intertemporal Preferences and Consumption.

126: Intuition and Decision Making.

127: Irrationality and Subrationality.

128: Junk Food.

129: Kahneman, Daniel 1934–.

130: Katona, George 1901–1981.

131: Keynes, John Maynard 1883–1946.

132: Kunreuther, Howard C..

133: Labels and Signaling Information Provision, Framing, and Economic Efficiency.

134: Labor Market Regulation.

135: Labor Supply and Target Income.

136: Law and Behavioral Economics.

137: Law and Economics, and Social Norms.

138: Leibenstein, Harvey 1922–1994.

139: Limits of Arbitrage.

140: Liquidity Trap and Liquidity Preference.

141: Loss Aversion.

142: Lucas Critique and Behavioral Economics.

143: Macroeconomics Behavioral.

144: March, James G. 1928–.

145: Mental Accounting.

146: Metapreferences.

147: Minsky Moment.

148: Momentum Investing.

149: Money Illusion.

150: Moods and Financial Markets.

151: Moral Hazard and Behavioral Economics.

152: Moral Motivation.

153: Multiple Equilibria.

154: Myopic Loss Aversion.

155: Nash Equilibrium.

156: Nastiness Experiments.

157: Neuroeconomics.

158: Neuroplasticity.

159: Noise Trading.

160: Nonmonetary Incentives.

161: Norms.

162: North, Douglass 1920–.

163: Nudging.

164: Oakeshott, Michael 1901–1990.

165: Obesity.

166: Organ Donation and Framing.

167: Organizational Capital.

168: Ostrom, Elinor 1933–2012.

169: Overconfidence.

170: Overconsumption.

171: Overemployment and Underemployment.

172: Paternalism.

173: Path Dependency.

174: Peer Pressure.

175: Pensions and Framing.

176: Plott, Charles 1938–.

177: Population Growth.

178: Preference Pollution.

179: Preference Reversal.

180: Preferences Interdependent.

181: Preferences Revealed.

182: Preferences True.

183: Present-Biased Preferences.

184: Pretense of Knowledge.

185: Price Stickiness.

186: Price-Quality Illusion.

187: Priming and Financial Decisions.

188: Principal-Agent Theory and Behavioral Economics.

189: Prisoner’s Dilemma.

190: Profit Maximization and Behavioral Economics.

191: Prospect Theory.

192: Public Good Game.

193: Rationality Process and Neoclassical.