Misbehaving

Misbehaving
Author: Richard H. Thaler
Publsiher: Penguin Press
Total Pages: 415
Release: 2016-05-05
ISBN: 9780241951224
Category: Economics
Language: EN, FR, DE, ES & NL

Misbehaving Book Excerpt:

Misbehaving The Making of Behavioral Economics

Misbehaving  The Making of Behavioral Economics
Author: Richard H. Thaler
Publsiher: W. W. Norton & Company
Total Pages: 432
Release: 2015-05-11
ISBN: 0393246779
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Misbehaving The Making of Behavioral Economics Book Excerpt:

Winner of the Nobel Prize in Economics Get ready to change the way you think about economics. Nobel laureate Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth—and change the way we think about economics, ourselves, and our world. Traditional economics assumes rational actors. Early in his research, Thaler realized these Spock-like automatons were nothing like real people. Whether buying a clock radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality assumed by economists. In other words, we misbehave. More importantly, our misbehavior has serious consequences. Dismissed at first by economists as an amusing sideshow, the study of human miscalculations and their effects on markets now drives efforts to make better decisions in our lives, our businesses, and our governments. Coupling recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers about how to make smarter decisions in an increasingly mystifying world. He reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building, to TV game shows, the NFL draft, and businesses like Uber. Laced with antic stories of Thaler’s spirited battles with the bastions of traditional economic thinking, Misbehaving is a singular look into profound human foibles. When economics meets psychology, the implications for individuals, managers, and policy makers are both profound and entertaining. Shortlisted for the Financial Times & McKinsey Business Book of the Year Award

The Beginnings of Behavioral Economics

The Beginnings of Behavioral Economics
Author: Roger Frantz
Publsiher: Academic Press
Total Pages: 258
Release: 2019-10-05
ISBN: 0128157054
Category: Business & Economics
Language: EN, FR, DE, ES & NL

The Beginnings of Behavioral Economics Book Excerpt:

The Beginnings of Behavioral Economics: Katona, Simon, and Leibenstein's X-Efficiency Theory explores the mid-20th century roots of behavioral economics, placing the origin of this now-dominant approach to economic theory many years before the groundbreaking 1979 work on prospect theory by Daniel Kahneman and Amos Tversky. It discusses the work of Harvey Leibenstein, Herbert Simon, George Katona, and Frederick Hayek, reintroducing their contributions as founding pillars of the behavioral approach. It concentrates on the work of Leibenstein, reviewing his nuanced introduction of X-efficiency theory. Building from these foundations, the work explores the body of empirical research on market power and firm behavior – XE relationship. This book is a tremendous resource for graduate students and early career researchers in behavioral economics, experimental economics, organizational economics, social and organizational psychology, labor market economics and public policy. Reviews the powerful, but neglected contributions of mid-20th century scholars, like Leibenstein and Katona in building the roots of behavioral economic theory Amalgamates and reviews 50 years of empirical research and over 200 empirical papers on X-efficiency theory Establishes how X-efficiency can aid modern behavioral economics in further developing firm theory and understanding efficiency wages

The Foundations of Behavioral Economic Analysis

The Foundations of Behavioral Economic Analysis
Author: Sanjit Dhami
Publsiher: Oxford University Press
Total Pages: 510
Release: 2019-02-14
ISBN: 0192574647
Category: Business & Economics
Language: EN, FR, DE, ES & NL

The Foundations of Behavioral Economic Analysis Book Excerpt:

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.

How Behavioral Economics Influences Management Decision Making

How Behavioral Economics Influences Management Decision Making
Author: Kelly Monahan
Publsiher: Academic Press
Total Pages: 278
Release: 2018-08-02
ISBN: 0128135689
Category: Business & Economics
Language: EN, FR, DE, ES & NL

How Behavioral Economics Influences Management Decision Making Book Excerpt:

How Behavioral Economics Influences Management Decision-Making: A New Paradigm critically reexamines the management function in 21st century workplaces. The book seeks to examine and explain the real-world behaviors of employees and acknowledge the human nature that binds us all together and how to appeal to these characteristics in order to help organizations prosper. It explores well-observed but rarely understood features of employee cognition and irrationality, challenging the dominant discourse and offering an alternative to gain greater competitive advantage in today's complex markets. It also provides an effective new framework on the best ways to develop relevant management skills as they pertain to hiring, performance management, change management, employee engagement, and goal setting. As the knowledge economy continues to grow, the social bonds within companies will prove to be a key differentiation to deliver on the next big idea. Developing productive decisions with staff in the talent-driven global economy increasingly requires the development of "intrinsic" meaning in work, a human-centered work-place culture, and human-focused working practices. This book tackles these topics in comprehensive and efficient detail. Provides a framework to simply and effectively apply behavioral principles in organizations of any size Focuses on agent motivations and behavior and how they directly impact talent management in the knowledge economy Highlights empirical studies, detailing the impact of heuristics on hiring, performance management, change management, employee engagement, and goal-setting decisions

Handbook of Behavioural Economics and Smart Decision Making

Handbook of Behavioural Economics and Smart Decision Making
Author: Morris Altman
Publsiher: Edward Elgar Publishing
Total Pages: 616
Release: 2017-05-26
ISBN: 1782549595
Category: Electronic Book
Language: EN, FR, DE, ES & NL

Handbook of Behavioural Economics and Smart Decision Making Book Excerpt:

This Handbook is a unique and original contribution of over thirty chapters on behavioural economics, examining and addressing an important stream of research where the starting assumption is that decision-makers are for the most part relatively smart or rational. This particular approach is in contrast to a theme running through much contemporary work where individuals’ behaviour is deemed irrational, biased, and error-prone, often due to how people are hardwired. In the smart people approach, where errors or biases occur and when social dilemmas arise, more often than not, improving the decision-making environment can repair these problems without hijacking or manipulating the preferences of decision-makers. This book covers a wide-range of themes from micro to macro, including various sub-disciplines within economics such as economic psychology, heuristics, fast and slow-thinking, neuroeconomics, experiments, the capabilities approach, institutional economics, methodology, nudging, ethics, and public policy.

Behavioral Science Policy Volume 2 Issue 2

Behavioral Science   Policy  Volume 2  Issue 2
Author: Craig Fox,Sim B. Sitkin
Publsiher: Brookings Institution Press
Total Pages: 97
Release: 2017-06-27
ISBN: 0815731094
Category: Political Science
Language: EN, FR, DE, ES & NL

Behavioral Science Policy Volume 2 Issue 2 Book Excerpt:

The success of nearly all public- and private- sector policies hinges on the behavior of individuals, groups, and organizations. Today, such behaviors are better understood than ever, thanks to a growing body of practical behavioral science research. However, policymakers often are unaware of behavioral science findings that may help them craft and execute more effective and efficient policies. The pages of this new journal will become a meeting ground: a place where scientists and non-scientists can encounter clearly described behavioral research that can be put into action. By design, the scope of BSP is broad, with topics spanning health care, financial decisionmaking, energy and the environment, education and culture, justice and ethics, and work place practices. Contributions will be made by researchers with expertise in psychology, sociology, law, behavioral economics, organization science, decision science, and marketing. The journal is a key offering of the Behavioral Science & Policy Association in partnership with the Brookings Institution. The mission of BSPA is to foster dialog between social scientists, policymakers, and other practitioners in order to promote the application of rigorous empirical behavioral science in ways that serve the public interest. BSPA does not advance a particular agenda or political perspective.

Human Agency and Behavioral Economics

Human Agency and Behavioral Economics
Author: Cass R. Sunstein
Publsiher: Springer
Total Pages: 116
Release: 2017-05-05
ISBN: 3319558072
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Human Agency and Behavioral Economics Book Excerpt:

This Palgrave Pivot offers comprehensive evidence about what people actually think of “nudge” policies designed to steer decision makers’ choices in positive directions. The data reveal that people in diverse nations generally favor nudges by strong majorities, with a preference for educative efforts – such as calorie labels - that equip individuals to make the best decisions for their own lives. On the other hand, there are significant arguments for noneducational nudges – such as automatic enrollment in savings plans - as they allow people to devote their scarce time and attention to their most pressing concerns. The decision to use either educative or noneducative nudges raises fundamental questions about human freedom in both theory and practice. Sunstein's findings and analysis offer lessons for those involved in law and policy who are choosing which method to support as the most effective way to encourage lifestyle changes.

Remaking Culture on Wall Street

Remaking Culture on Wall Street
Author: Henry Engler
Publsiher: Springer
Total Pages: 101
Release: 2018-11-15
ISBN: 303002086X
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Remaking Culture on Wall Street Book Excerpt:

Since 2008, financial firms have paid, in aggregate, in excess of $320 billion in fines related to misconduct. Nearly ten years later, while many large financial firms have increased their attention to bad behavior and cultural drivers, the degree of commitment and progress in these efforts has not been even across the industry. Serious or persistent misconduct continues in some firms. Many organizations have attempted to curb bad behavior through intrusive monitoring and enforcement actions which reflect a lack of trust in their employees. A different approach is needed, one that gets at the root causes of misconduct and attempts to rebuild culture from the bottom up, with the employee at the center. This is where tools from behavioral science can help senior risk officers, compliance and business heads better understand the mind-set of their employees and internal communities and create an environment where the link between ethical behavior and strong business results is promoted. If firms continue to fail in establishing stronger internal cultures, regulators may feel compelled to step in and dictate what they should do. This book emphasizes the need for a change in approach, looking at the increased incidence of misconduct and culture breakdown since the 2008 crisis, how regulators have responded, and includes a series of proposals to restore that trust and reform culture.

Behavioural Economics and Finance

Behavioural Economics and Finance
Author: Michelle Baddeley
Publsiher: Routledge
Total Pages: 498
Release: 2018-10-17
ISBN: 1351813986
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Behavioural Economics and Finance Book Excerpt:

Behavioural economics and behavioural finance are rapidly expanding fields that are continually growing in prominence. While orthodox economic models are built upon restrictive and simplifying assumptions about rational choice and efficient markets, behavioural economics offers a robust alternative using insights and evidence that rest more easily with our understanding of how real people think, choose and decide. This insightful textbook introduces the key concepts from this rich, interdisciplinary approach to real-world decision-making. This new edition of Behavioural Economics and Finance is a thorough extension of the first edition, including updates to the key chapters on prospect theory; heuristics and bias; time and planning; sociality and identity; bad habits; personality, moods and emotions; behavioural macroeconomics; and well-being and happiness. It also includes a number of new chapters dedicated to the themes of incentives and motivations, behavioural public policy and emotional trading. Using pedagogical features such as chapter summaries and revision questions to enhance reader engagement, this text successfully blends economic theories with cutting-edge multidisciplinary insights. This second edition will be indispensable to anyone interested in how behavioural economics and finance can inform our understanding of consumers’ and businesses’ decisions and choices. It will appeal especially to undergraduate and graduate students but also to academic researchers, public policy-makers and anyone interested in deepening their understanding of how economics, psychology and sociology interact in driving our everyday decision-making.

A Modern Guide to Tourism Economics

A Modern Guide to Tourism Economics
Author: Croes, Robertico,Yang, Yang
Publsiher: Edward Elgar Publishing
Total Pages: 455
Release: 2022-09-06
ISBN: 1800378769
Category: Business & Economics
Language: EN, FR, DE, ES & NL

A Modern Guide to Tourism Economics Book Excerpt:

This Modern Guide captures the evolution of foundational tenets, theories, frameworks and models that buttressed tourism economics into an evolving discipline, shining light on both new and old approaches. It systematically examines current and future trends and issues related to new economic perspectives, consolidating the notion of tourism economics as a discipline.

Microeconomics Competition and Strategic Behaviour

Microeconomics  Competition and Strategic Behaviour
Author: Markus Thomas Münter
Publsiher: UTB
Total Pages: 421
Release: 2022-09-05
ISBN: 3825259080
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Microeconomics Competition and Strategic Behaviour Book Excerpt:

Microeconomics is not applied math – frameworks in this book are regularly in use in daily managerial practice and strategic decision-making. Numerous case studies cover price discrimination, economies of scale, digital business models, game theory, dealing with uncertainty, entry barriers or sunk costs – all of which are crucial for understanding market dynamics and competitive behaviour.

What Would Keynes Do

What Would Keynes Do
Author: Tejvan Pettinger
Publsiher: Hachette UK
Total Pages: 192
Release: 2018-03-01
ISBN: 1788400348
Category: Business & Economics
Language: EN, FR, DE, ES & NL

What Would Keynes Do Book Excerpt:

Have you ever wondered what Adam Smith would have to say about you playing the lottery? Or whether Jeremy Bentham could cure your hangover (through economics)? Ever pondered over what Milton Friedman might get you for Christmas? By comparing and contrasting what the greatest economists of all time would have to say about 40 questions from your everyday life, What Would Keynes Do? will help you get to grips with all the important economic theories in an original and thought-provoking way. Includes such puzzling conundrums as: -Should I park in an illegal parking space and risk a fine? -Should I go to University or start working straight away? -Should I leave my children all my wealth after my death or spread it out throughout my life? -Should I ever commit a crime? -If I enjoy drinking beer, how much should I drink? -Is it OK to be selfish? -Should I vote for a political party which promises to raise taxes?

Applied Behavioral Economics Research and Trends

Applied Behavioral Economics Research and Trends
Author: Ianole, Rodica
Publsiher: IGI Global
Total Pages: 255
Release: 2016-12-12
ISBN: 1522518274
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Applied Behavioral Economics Research and Trends Book Excerpt:

Interdisciplinary factors in the modern business realm have significant impacts on economic agents within organizations. These behavioral influences affect multiple decision-making processes on both the individual and organizational levels. Applied Behavioral Economics Research and Trends provides a comprehensive examination of the social, psychological, and emotional factors in organizational behavior and economic decision-making and how these issues provide a deeper understanding of various economic behaviors. Highlighting relevant coverage across a range of topics, such as consumer behavior, inter-temporal choices, and self-employment, this book is ideally designed for managers, researchers, professionals, graduate students, and practitioners seeking scholarly material on the implications of behavioral economics across numerous industries.

Principles of Behavioral Economics

Principles of Behavioral Economics
Author: Peter Earl
Publsiher: Cambridge University Press
Total Pages: 541
Release: 2022-07-28
ISBN: 1316515095
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Principles of Behavioral Economics Book Excerpt:

Presents the ONE behavioral approach to economics: a grand synthesis of Old, New and Evolutionary behavioral approaches.

Behavioural Macroeconomics

Behavioural Macroeconomics
Author: Paul De Grauwe,Yuemei Ji
Publsiher: Unknown
Total Pages: 273
Release: 2019-10-17
ISBN: 019883232X
Category: Macroeconomics
Language: EN, FR, DE, ES & NL

Behavioural Macroeconomics Book Excerpt:

Modern macroeconomics has been based on the paradigm of the rational individual capable of understanding the complexity of the world. This has created a very shallow theory of the business cycle in which nothing happens in the macroeconomy unless shocks occur from outside. Behavioural Macroeconomics: Theory and Policy uses a different paradigm. It assumes that individual agents experience cognitive limitations preventing them from having rational expectations. Instead these individuals use simple rules of behaviour. Behavioural Macroeconomics introduces rationality by allowing individuals to learn from their mistakes and to switch to the rules that perform better. It introduces the idea of endogenously generated "animals spirits" that drive the business cycle and are in turn influenced by it, and applies this model to shed new light on a number of important issues. It analyses the role of fiscal policy in stabilizing the economy while maintaining debt sustainability; expands the model to include a banking sector and show how banks amplify the booms and busts; and explains how animal spirits help to synchronize the business cycles across countries. The model set out in Behavioural Macroeconomics leads to very different policy implications from the mainstream macroeconomic model. It shows how policymakers have a responsibility to stabilize an otherwise unstable system.

Routledge Handbook of Behavioral Economics

Routledge Handbook of Behavioral Economics
Author: Roger Frantz,Shu-Heng Chen,Kurt Dopfer,Floris Heukelom,Shabnam Mousavi
Publsiher: Routledge
Total Pages: 435
Release: 2016-08-05
ISBN: 1317589246
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Routledge Handbook of Behavioral Economics Book Excerpt:

There is no doubt that behavioral economics is becoming a dominant lens through which we think about economics. Behavioral economics is not a single school of thought but representative of a range of approaches, and uniquely, this volume presents an overview of them. The wide spectrum of international contributors each provides an exploration of a central approach, aspect or topic in behavorial economics. Taken together, the whole volume provides a comprehensive overview of the subject which considers both key developments and future possibilities. Part One presents several different approaches to behavioural economics, including George Katona, Ken Boulding, Harvey Leibenstein, Vernon Smith, Herbert Simon, Gerd Gigerenzer, Daniel Kahneman, and Richard Thaler. This section looks at the origins and development of behavioral economics and compares and contrasts the work of these scholars who have been so influential in making this area so prominent. Part Two presents applications of behavioural economics including nudging; heuristics; emotions and morality; behavioural political economy, education, and economic innovation. The Routledge Handbook of Behavioral Economics is ideal for advanced economics students and faculty who are looking for a complete state-of-the-art overview of this dynamic field.

The Cambridge Handbook of Psychology and Economic Behaviour

The Cambridge Handbook of Psychology and Economic Behaviour
Author: Alan Lewis
Publsiher: Cambridge University Press
Total Pages: 135
Release: 2018-02-15
ISBN: 1108547680
Category: Psychology
Language: EN, FR, DE, ES & NL

The Cambridge Handbook of Psychology and Economic Behaviour Book Excerpt:

There has recently been an escalated interest in the interface between psychology and economics. The Cambridge Handbook of Psychology and Economic Behaviour is a valuable reference dedicated to improving our understanding of the economic mind and economic behaviour. Employing empirical methods - including laboratory and field experiments, observations, questionnaires and interviews - the Handbook provides comprehensive coverage of theory and method, financial and consumer behaviour, the environment and biological perspectives. This second edition also includes new chapters on topics such as neuroeconomics, unemployment, debt, behavioural public finance, and cutting-edge work on fuzzy trace theory and robots, cyborgs and consumption. With distinguished contributors from a variety of countries and theoretical backgrounds, the Handbook is an important step forward in the improvement of communications between the disciplines of psychology and economics that will appeal to academic researchers and graduates in economic psychology and behavioral economics.

Maintaining Financial Stability in Times of Risk and Uncertainty

Maintaining Financial Stability in Times of Risk and Uncertainty
Author: Behl, Abhishek,Nayak, Sushma
Publsiher: IGI Global
Total Pages: 377
Release: 2018-12-04
ISBN: 1522572090
Category: Business & Economics
Language: EN, FR, DE, ES & NL

Maintaining Financial Stability in Times of Risk and Uncertainty Book Excerpt:

Risks and uncertainties?market, financial, operational, social, humanitarian, environmental, and institutional?are the inherent realities of the modern world. Stock market crashes, demonetization of currency, and climate change constitute just a few examples that can adversely impact financial institutions across the globe. To mitigate these risks and avoid a financial crisis, a better understanding of how the economy responds to uncertainties is needed. Maintaining Financial Stability in Times of Risk and Uncertainty is an essential reference source that discusses how risks and uncertainties affect the financial stability and security of individuals and institutions, as well as probable solutions to mitigate risk and achieve financial resilience under uncertainty. Featuring research on topics such as financial fraud, insurance ombudsman, and Knightian uncertainty, this book is developed for researchers, academicians, policymakers, students, and scholars.

Advances in Soft and Hard Computing

Advances in Soft and Hard Computing
Author: Jerzy Pejaś,Imed El Fray,Tomasz Hyla,Janusz Kacprzyk
Publsiher: Springer
Total Pages: 494
Release: 2018-12-12
ISBN: 3030033147
Category: Technology & Engineering
Language: EN, FR, DE, ES & NL

Advances in Soft and Hard Computing Book Excerpt:

The book presents a collection of carefully selected, peer-reviewed papers from the 21st International Multi-Conference on Advanced Computer Systems 2018 (ACS 2018), which was held in Międzyzdroje, Poland on September 24th-26th, 2018. The goal of the ACS 2018 was to bring artificial intelligence, software technologies, biometrics, IT security and distance learning researchers in contact with the ACS community, and to give ACS attendees the opportunity to exchange notes on the latest advances in these areas of interest. The primary focus of the book is on high-quality, original and unpublished research, case studies, and implementation experiences. All of the respective papers are of practical relevance to the construction, evaluation, application or operation of advanced systems. The topics addressed are divided into five major groups: artificial intelligence, software technologies, information technology security, multimedia systems, and information system design.