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Introduction to Behavioral Economics
David R. Just (Author)
9780470596227, Wiley
Paperback / softback, published 28 February 2014
528 pages
23.4 x 19.1 x 1.8 cm, 0.748 kg
Introduction to Behavioral Economics is focused on the broad principles of behavior, which are illustrated using real-world examples from experimental literature as well as experiential examples. Real-world examples are drawn from news items, historical accounts and the economics literature. Experimental examples are drawn from the economics literature. These examples are discussed providing explanatory figures and interpretations. With the rise of both behavioral finance and behavioral industrial organization, undergraduates now clamor for formal training and instruction in behavioral economics. Introduction to Behavioral Economics covers all the ways consumers and other economic agents behave in nonrational manner and prepares readers to make rational economic choices. This text provides experiments as a set of examples of the broader principles of behavior.
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
Subject Areas: Economics [KC]
