{"product_id":"optimally-irrational-the-good-reasons-we-behave-the-way-we-do-paperback-9781009209205","title":"Optimally Irrational; The Good Reasons We Behave the Way We Do (Paperback \/ softback) 9781009209205","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eOptimally Irrational\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eThe Good Reasons We Behave the Way We Do\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eThe seemingly irrational, puzzling aspects of human behaviour are not bugs, but features. Improving our navigation of the real world.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eLionel Page (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781009209205, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePaperback \/ softback, published 3 November 2022\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e325 pages, 15 b\/w illus.  4 tables\u003cbr\u003e22.9 x 15.2 x 1.7 cm, 0.48 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e'The human mind is an elaborate product of natural selection. Optimally Irrational is very welcome in bringing into focus the evolutionary underpinnings of human cognition as applied to economic decisions. Behavioural economics has often taken psychological mechanisms as arbitrary, without regard to the evolutionary design problems that created them. Such an atheoretical approach is questionable in view of the replication crisis in psychology. Page's deeper examination of behavioural economics is thoughtful and wide ranging. I learned much from this insightful and engaging book.' David Hirshleifer, Professor of Finance, University of California at Irvine\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eFor a long time, economists have assumed that we were cold, self-centred, rational decision makers – so-called Homo economicus; the last few decades have shattered this view. The world we live in and the situations we face are of course rich and complex, revealing puzzling aspects of our behaviour. Optimally Irrational argues that our improved understanding of human behaviour shows that apparent 'biases' are good solutions to practical problems – that many of the 'flaws' identified by behavioural economics are actually adaptive solutions. Page delivers an ambitious overview of the literature in behavioural economics and, through the exposition of these flaws and their meaning, presents a sort of unified theory of behaviouralism, cognitive psychology and evolutionary biology. He gathers theoretical and empirical evidence about the causes of behavioural 'biases' and proposes a big picture of what the discipline means for economics.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePart I. Setting the Scene: 1. The homo economius model\u003cbr\u003e 2. The psychology of biases in human behaviour\u003cbr\u003e 3. The logic of a scientific revolution in economics\u003cbr\u003e 4. Evolution and the logic of optimism\u003cbr\u003e Part II. Individual Decisions: 5. Rules of thumb and gut feelings\u003cbr\u003e 6. Reference points and aversion to losses\u003cbr\u003e 7. Sensitivity to probability\u003cbr\u003e 8. The randomness of choices\u003cbr\u003e 9. Impatience\u003cbr\u003e Part III. Social interactions\u003cbr\u003e 10. Kindness and reciprocity\u003cbr\u003e 11. Emotions and commitment\u003cbr\u003e 12. Social identity\u003cbr\u003e 13. Impression management\u003cbr\u003e 14. Selection of delusion\u003cbr\u003e Part IV. Epilogue\u003cbr\u003e 15. Rationality?\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Microeconomics [\u003ca title=\"See our other books on Microeconomics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Microeconomics%20%5BKCC%5D%22\"\u003eKCC\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46001688477976,"sku":"9781009209205","price":26.79,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9781009209205i.jpg?v=1696791416","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/optimally-irrational-the-good-reasons-we-behave-the-way-we-do-paperback-9781009209205","provider":"Freshly Printed Books","version":"1.0","type":"link"}