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portada Behavioural Economics
Type
Physical Book
Language
English
Pages
176
Format
Paperback
Dimensions
20.8x14.7x1 cm
Weight
0.20 kg.
ISBN13
9781911116417

Behavioural Economics

Graham Mallard (Author) · Agenda Publishing · Paperback

Behavioural Economics - Mallard, Graham

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Synopsis "Behavioural Economics"

The rise of behavioral approaches in economics has been one of most significant developments in the study of economic decision-making in recent years. The increasingly acknowledged failings of standard models of choice to explain economic decisions has prompted economists to incorporate into their analysis psychological insights into individual behavior, such as social cognitive and emotional biases. This book introduces the topic of behavioral economics to a beginning readership, explaining its approach and methodology and assessing its successes and weaknesses. The book begins by tracing the evolution of the field from its origins in Adam Smith's moral sentiments through the work of Herbert Simon to Daniel Kahneman and Richard Thaler today. The book explores how behavioral economics has advanced our understanding of human preferences including notions of fairness, reciprocity, and inequality aversion, and the mental processes involved in decision making, which vary with the complexity of the decision and the ability of the decision-maker to process the information. The decision-making of individuals within social and economic groups is explored, including financial practitioners and what this can mean for financial markets. Finally the book looks at the ways in which findings from behavioral economics have been used to alter the decisions people make, such as the nudge approach, and the ethics of such persuasion.

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