Overview
- Reviews the pillars of conventional and behavioral economics
- Presents in-depth analysis of problem areas in behavioral economics and solutions
- Offers a compact overview of expert opinions on the most controversial issues in academic debate, written in a non-technical way
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Table of contents (11 chapters)
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Front Matter
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How did we get here?
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Front Matter
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Moving Forward: Seven Businesses to Finish
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Front Matter
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Back Matter
Keywords
About this book
This book sets the agenda to turn behavioral economics, which has long been considered a subordinate discipline, into mainstream economics. Ghisellini and Chang expose the conceptual and empirical inadequacy of conventional economics using illustrations of real world decision-making in a dynamic environment, including evidence from the global financial crisis. With a rigorous yet accessible style, they give a comprehensive overview of behavioral economics and of the current state of play in the field across different schools of thought. Seven major conceptual problems still affecting the development of behavioral economics are identified and the authors propose research avenues to address these issues and allow the discipline to receive its long-awaited recognition.
Crucial reading for researchers and students looking for insights into the many unsolved problems of economics.
Reviews
Selected by Choice magazine as an Outstanding Academic Title for 2019
“This book is a must read for anyone interested in behavioral economics. … Behavioral economics is then an approach to economic analysis that enriches the explanation of decision-making by applying psychological insights. The bibliographies at the end of each chapter are thoughtful, and the authors provide insightful ‘hints’ to future work that needs to be done.” (M. H. Lesser, Choice, Vol. 56 (6), February, 2019)
“This book is a breath of fresh air in behavioral economics, as it fully acknowledges that smart agents need not behave neoclassically, and often should not. This has wide policy and theory implications.” (Morris Altman, Newcastle Business School, UK)“This is a really useful book for introducing students to behavioural economics and the key research questions in the field, far more so than the pop behavioural literature.” (Diane Coyle, University of Cambridge, UK)
“A refreshingly unconventional, inspiring and entertaining assessment of the nature of biases and the alleged need to nudge people out of them. It takes uncertainty and heuristics seriously; a well-written and courageous book.” (Gerd Gigerenzer, Max Planck Institute for Human Development, Germany)
Authors and Affiliations
About the authors
Beryl Y. Chang is Professor of Economics at New York University, USA, and served as an economist for risk performance of large credit and investment portfolios with major banks in the United States and as a consultant for international institutions. She has given a seminar course in behavioral economics and finance at Columbia University, USA, and is a published author and referee for numerous journals in areas of applied micro and macroeconomics, interdisciplinary/behavioral economics, international and financial economics, industrial organization, and risk management. Chang is also a concert violinist.
Bibliographic Information
Book Title: Behavioral Economics
Book Subtitle: Moving Forward
Authors: Fabrizio Ghisellini, Beryl Y. Chang
DOI: https://doi.org/10.1007/978-3-319-75205-1
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s) 2018
Hardcover ISBN: 978-3-319-75204-4Published: 23 July 2018
Softcover ISBN: 978-3-030-09170-5Published: 08 January 2019
eBook ISBN: 978-3-319-75205-1Published: 06 July 2018
Edition Number: 1
Number of Pages: XIII, 234
Number of Illustrations: 8 b/w illustrations, 23 illustrations in colour
Topics: Behavioral/Experimental Economics, Economic Theory/Quantitative Economics/Mathematical Methods, Education Economics