Author: Ananish Chaudhuri Publisher: Routledge ISBN: 1000375714 Category : Business & Economics Languages : en Pages : 459
Book Description
- Incorporates the latest experimental evidence from across economics, psychology and neuroscience to provide cutting-edge introduction for students. - Structured around three key settings – individuals, small groups and larger impersonal groups (e.g. markets) – this text provides a logical framework for the study of economic decision-making. - Includes discussion of emotions including fairness, trust, selfishness and altruism on both a micro and macro level to show how they can influence personal decision making as well as entire economies.
Author: Ananish Chaudhuri Publisher: Routledge ISBN: 113402391X Category : Business & Economics Languages : en Pages : 268
Book Description
Are humans fair by nature? Why do we often willingly trust strangers or cooperate with them even if those actions leave us vulnerable to exploitation? Does this natural inclination towards fairness or trust have implications in the market-place? Traditional economic theory would perhaps think not, perceiving human interaction as self-interested at heart. There is increasing evidence however that social norms and norm-driven behaviour such as a preference for fairness, generosity or trust have serious implications for economics. This book provides an easily accessible overview of economic experiments, specifically those that explore the role of fairness, generosity, trust and reciprocity in economic transactions. Ananish Chaudhuri approaches a variety of economic issues and problems including: Pricing by firms Writing labour contracts between parties Marking voluntary contributions to charity, Addressing issues of environmental pollution, Providing micro-credit to small entrepreneurs, Resolving problems of coordination failure in organizations. The book discusses how norm-driven behaviour can often lead to significantly different outcomes than those predicted by economic theories and these findings should in turn cause us to re-think how we approach economic analysis and policy. Assuming no prior knowledge of economics and containing a variety of examples, this reader friendly volume will be perfect reading for people from a wide range of backgrounds including students and policy-makers. The book should appeal to economics undergraduates studying experimental economics, microeconomics or game theory as well as students in social psychology, organizational behaviour, management and other business related disciplines.
Author: Colin F. Camerer Publisher: Princeton University Press ISBN: 1400840880 Category : Business & Economics Languages : en Pages : 568
Book Description
Game theory, the formalized study of strategy, began in the 1940s by asking how emotionless geniuses should play games, but ignored until recently how average people with emotions and limited foresight actually play games. This book marks the first substantial and authoritative effort to close this gap. Colin Camerer, one of the field's leading figures, uses psychological principles and hundreds of experiments to develop mathematical theories of reciprocity, limited strategizing, and learning, which help predict what real people and companies do in strategic situations. Unifying a wealth of information from ongoing studies in strategic behavior, he takes the experimental science of behavioral economics a major step forward. He does so in lucid, friendly prose. Behavioral game theory has three ingredients that come clearly into focus in this book: mathematical theories of how moral obligation and vengeance affect the way people bargain and trust each other; a theory of how limits in the brain constrain the number of steps of "I think he thinks . . ." reasoning people naturally do; and a theory of how people learn from experience to make better strategic decisions. Strategic interactions that can be explained by behavioral game theory include bargaining, games of bluffing as in sports and poker, strikes, how conventions help coordinate a joint activity, price competition and patent races, and building up reputations for trustworthiness or ruthlessness in business or life. While there are many books on standard game theory that address the way ideally rational actors operate, Behavioral Game Theory stands alone in blending experimental evidence and psychology in a mathematical theory of normal strategic behavior. It is must reading for anyone who seeks a more complete understanding of strategic thinking, from professional economists to scholars and students of economics, management studies, psychology, political science, anthropology, and biology.
Author: Chaudhuri, Ananish Publisher: Edward Elgar Publishing ISBN: 1802205675 Category : Business & Economics Languages : en Pages : 256
Book Description
Utilizing extensive research in economics, psychology, political science, neuroscience and evolutionary theory, Ananish Chaudhuri provides a critical perspective on the role of cognitive biases in decision-making during the Covid-19 pandemic. The extensive use of, and support for, stringent social distancing measures in particular is explored in depth.
Author: Steven Durlauf Publisher: Springer ISBN: 0230280781 Category : Business & Economics Languages : en Pages : 267
Book Description
Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.
Author: Alessandro Bucciol Publisher: Academic Press ISBN: 0128158581 Category : Business & Economics Languages : en Pages : 360
Book Description
Dishonesty in Behavioral Economics provides a rigorous and comprehensive overview of dishonesty, presenting state-of-the-art research that adopts a behavioral economics perspective. Throughout the volume, contributors emphasize the effects of psychological, social, and cognitive factors on the decision-making process. In contrast to related titles, Dishonesty in Behavioral Economics emphasizes the importance of empirical research methodologies. Its contributors demonstrate how various methods applied to similar research questions can lead to different results. This characteristic is important because, of course, it is difficult to obtain reliable measures of dishonesty. Reviews many key issues in the literature around lying, cheating, fraudulence, and deception Covers both state-of-the-art methods and data collection mechanisms (e.g., laboratory experiments, field experiments, online surveys) Discusses novel interdisciplinary research findings and from them proposes new avenues of research
Author: Michelle Baddeley Publisher: Oxford University Press ISBN: 019107117X Category : Business & Economics Languages : en Pages : 144
Book Description
Traditionally economists have based their economic predictions on the assumption that humans are super-rational creatures, using the information we are given efficiently and generally making selfish decisions that work well for us as individuals. Economists also assume that we're doing the very best we can possibly do - not only for today, but over our whole lifetimes too. But increasingly the study of behavioural economics is revealing that our lives are not that simple. Instead, our decisions are complicated by our own psychology. Each of us makes mistakes every day. We don't always know what's best for us and, even if we do, we might not have the self-control to deliver on our best intentions. We struggle to stay on diets, to get enough exercise and to manage our money. We misjudge risky situations. We are prone to herding: sometimes peer pressure leads us blindly to copy others around us; other times copying others helps us to learn quickly about new, unfamiliar situations. This Very Short Introduction explores the reasons why we make irrational decisions; how we decide quickly; why we make mistakes in risky situations; our tendency to procrastination; and how we are affected by social influences, personality, mood and emotions. The implications of understanding the rationale for our own financial behaviour are huge. Behavioural economics could help policy-makers to understand the people behind their policies, enabling them to design more effective policies, while at the same time we could find ourselves assaulted by increasingly savvy marketing. Michelle Baddeley concludes by looking forward, to see what the future of behavioural economics holds for us. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.
Author: Chaudhuri, Ananish Publisher: Edward Elgar Publishing ISBN: 1789909856 Category : Business & Economics Languages : en Pages : 264
Book Description
Written by well-established researchers in behavioural economics, this Research Agenda illustrates the application of incentivised decision-making experiments, highlighting how this can add a new and novel dimension to social science research. Informative and timely, it explores how experiments are being used by pioneers in a diverse range of fields when research questions may not be amenable to field studies, vignettes or surveys.
Author: Sanjit Dhami Publisher: Oxford University Press ISBN: 0192574647 Category : Business & Economics Languages : en Pages : 510
Book Description
Taken from the first definitive introduction to behavioral economics, The Foundations of Behavioral Economic Analysis: Other-Regarding Preferences is an authoritative and cutting edge guide to this essential topic for advanced undergraduate and postgraduate students. It considers the evidence from experimental games on human sociality, and gives models and applications of inequity aversion, intention based reciprocity, conditional cooperation, human virtues, and social identity. This updated extract from Dhami's leading textbook allows the reader to pursue subsections of this vast and rapidly growing field and to tailor their reading to their specific interests in behavioural economics.
Author: Colin F. Camerer Publisher: Princeton University Press ISBN: 1400829119 Category : Business & Economics Languages : en Pages : 769
Book Description
Twenty years ago, behavioral economics did not exist as a field. Most economists were deeply skeptical--even antagonistic--toward the idea of importing insights from psychology into their field. Today, behavioral economics has become virtually mainstream. It is well represented in prominent journals and top economics departments, and behavioral economists, including several contributors to this volume, have garnered some of the most prestigious awards in the profession. This book assembles the most important papers on behavioral economics published since around 1990. Among the 25 articles are many that update and extend earlier foundational contributions, as well as cutting-edge papers that break new theoretical and empirical ground. Advances in Behavioral Economics will serve as the definitive one-volume resource for those who want to familiarize themselves with the new field or keep up-to-date with the latest developments. It will not only be a core text for students, but will be consulted widely by professional economists, as well as psychologists and social scientists with an interest in how behavioral insights are being applied in economics. The articles, which follow Colin Camerer and George Loewenstein's introduction, are by the editors, George A. Akerlof, Linda Babcock, Shlomo Benartzi, Vincent P. Crawford, Peter Diamond, Ernst Fehr, Robert H. Frank, Shane Frederick, Simon Gächter, David Genesove, Itzhak Gilboa, Uri Gneezy, Robert M. Hutchens, Daniel Kahneman, Jack L. Knetsch, David Laibson, Christopher Mayer, Terrance Odean, Ted O'Donoghue, Aldo Rustichini, David Schmeidler, Klaus M. Schmidt, Eldar Shafir, Hersh M. Shefrin, Chris Starmer, Richard H. Thaler, Amos Tversky, and Janet L. Yellen.
Author: Ananish Chaudhuri
Author: Ananish Chaudhuri
Author: Colin F. Camerer
Author: Chaudhuri, Ananish
Author: Steven Durlauf
Author: Alessandro Bucciol
Author: Michelle Baddeley
Author: Chaudhuri, Ananish
Author: Sanjit Dhami
Author: Colin F. Camerer