Handbook of Behavioural Economics and Smart Decision-Making PDF Download

Author: Morris Altman
Publisher: Edward Elgar Publishing
ISBN: 1782549595
Category : Business & Economics
Languages : en
Pages : 607

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Book Description
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.

Author: Morris Altman
Publisher: Bloomsbury Publishing USA
ISBN:
Category : Business & Economics
Languages : en
Pages : 690

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Book Description
The first and only encyclopedia to focus on the economic and financial behaviors of consumers, investors, and organizations, including an exploration of how people make good—and bad—economic decisions. Traditional economic theories speculate how and when people should spend money. But consumers don't always behave as expected and often adopt strategies that might appear unorthodox yet are, at times, more effective than the rule prescribed by conventional wisdom. This groundbreaking text examines the ways in which people make financial decisions, whether it is because they are smart but atypical in their choices ... or just irrational decision makers. A leading authority on behavioral economics, Morris Altman and more than 150 expert contributors delve into key concepts in behavioral economics, economic psychology, behavioral finance, neuroeconomics, experimental economics, and institutional economics to help inform economic models based on reality, not theory. Through 250 informative entries, the book explores various aspects of the subject including decision making, economic analysis, and public policy. In addition to introducing concepts to readers new to the subject, the book sheds light on more advanced financial topics in a manner that is objective, comprehensive, and accessible.

Author: Morris Altman
Publisher: Academic Press
ISBN: 0128114614
Category : Business & Economics
Languages : en
Pages : 300

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Book Description
Smart Economic Decision-Making in a Complex World is a fresh and reality-based perspective on decision-making with significant implications for analysis, self-understanding and policy. The book examines the conditions under which smart people generate outcomes that improve their place of work, their household and society. Within this work, the curious reader will find interesting open questions on many fascinating areas of current economic debate, including, the role of realistic assumptions robust model building, understanding how and when non-neoclassical behavior is best practice, why the assumption of smart decision-makers is best to understand and explain our economies and societies, and under what conditions individuals can make the best possible choices for themselves and society at large. Additional sections cover when and how efficiency is achieved, why inefficiencies can persist, when and how consumer welfare is maximized, and what benchmarks should be used to determine efficiency and rationality.

Author: Milena S. Nikolova
Publisher: Academic Press
ISBN: 0128138122
Category : Business & Economics
Languages : en
Pages : 284

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Book Description
Behavioral Economics for Tourism applies behavioral perspectives to business and policy challenges in the tourism industry. The book enables professionals and early career researchers to succeed by focusing on market and consumer trends, technological advancements, and the modern tourist. It covers the transformation of purchasing decisions, tourism hosting dynamics, digital mediation and disintermediation of tourism organizations, service design, and planning policy considerations. The volume concludes with case studies illustrating successful and unsuccessful behavioral tactics and strategies for tourism businesses and organizations. - Provides behavioral profiling of the digitally-informed, mobile, self-managed tourist - Allows the tourism industry to better understand tourists, both cognitively and emotionally - Supports business success, technology development and sustainability in the tourism industry - Features case studies on behavioral tactics and strategies for use in tourism

Author: Roger Frantz
Publisher: Routledge
ISBN: 1317589246
Category : Business & Economics
Languages : en
Pages : 435

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Book Description
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.

Author: Morris Altman
Publisher: John Wiley & Sons
ISBN: 1118085035
Category : Business & Economics
Languages : en
Pages : 384

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Book Description
A guide to the study of how and why you really make financial decisions While classical economics is based on the notion that people act with rational self-interest, many key money decisions—like splurging on an expensive watch—can seem far from rational. The field of behavioral economics sheds light on the many subtle and not-so-subtle factors that contribute to our financial and purchasing choices. And in Behavioral Economics For Dummies, readers will learn how social and psychological factors, such as instinctual behavior patterns, social pressure, and mental framing, can dramatically affect our day-to-day decision-making and financial choices. Based on psychology and rooted in real-world examples, Behavioral Economics For Dummies offers the sort of insights designed to help investors avoid impulsive mistakes, companies understand the mechanisms behind individual choices, and governments and nonprofits make public decisions. A friendly introduction to the study of how and why people really make financial decisions The author is a professor of behavioral and institutional economics at Victoria University An essential component to improving your financial decision-making (and even to understanding current events), Behavioral Economics For Dummies is important for just about anyone who has a bank account and is interested in why—and when—they spend money.

Author: Morris Altman
Publisher: Edward Elgar Publishing
ISBN: 1839107944
Category : Business & Economics
Languages : en
Pages : 533

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Book Description
This comprehensive Handbook addresses a wide variety of methodological approaches adopted and developed by behavioural economists, exploring the implications of such innovations for analysis and policy.

Author: Hugh Schwartz
Publisher: Archway Publishing
ISBN: 1480862053
Category : Business & Economics
Languages : en
Pages : 86

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Book Description
Behavioral economics may be losing its way by basing its analyses essentially on consumers and individuals alone, even though the results are also used to guide producers and other organizations. Producer and Organizational Decision-Making do not always share the same shortcomings as those of consumers and other individuals, according to Hugh Schwartz. Consider the achievements of entrepreneurs like Steve Jobs, Elon Musk and Jeff Bezos, whose behavior seems to have been quite contrary to the findings of behavioral economics. Schwartz argues that we need to examine the behavior of organizations--producers, non-profits and government entities--if we are to understand decisions of society as contexts vary and the size of organizations and their relative importance change. Join the author as he offers a history, analysis and critique of behavioral economics and some advice, perhaps controversial, on how to revitalize the field.

Author: Hannah Josepha Rachel Altman
Publisher: Routledge
ISBN: 1000522695
Category : Business & Economics
Languages : en
Pages : 377

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Book Description
Economists have entered into the realm of sports to provide what they believe to be more cogent explanations for sport-related behaviour and to suggest ways in which incentives can improve sports outcomes. But prices and income, the traditional workhorses of conventional economics, can only provide partial explanations and understandings. Drawing on a bounded rationality approach to behavioural economics, this book demonstrates the analytical insights to be gained by supplementing the conventional economics toolbox with psychological, cognitive, sociological, and institutional factors. The international cast list of contributors cover a wide range of sports topics on which a behavioural approach can reveal new insights. These include preferences, managerial, efficiency, choking, doping, favouritism, athlete well- being, and spectator behaviour. Throughout the book, there is an emphasis on the cognitive limits to smart decision-making as well as the critical role played by the decision-making environment. This volume demonstrates that adopting a bounded rationality approach, complimented with other behaviouralist approaches, helps to better explain sport-related behavioural, sub-optimal behavioural, and market failures. It also provides insights that could be used to improve sports outcomes and the well-being of those involved in sports and to better configure policy to enhance sports performance. This groundbreaking book will be an indispensable reference to students and scholars of sports economics, sports management, and sports science.

Author: Riccardo Viale
Publisher: Routledge
ISBN: 1317330803
Category : Business & Economics
Languages : en
Pages : 681

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Book Description
Herbert Simon’s renowned theory of bounded rationality is principally interested in cognitive constraints and environmental factors and influences which prevent people from thinking or behaving according to formal rationality. Simon’s theory has been expanded in numerous directions and taken up by various disciplines with an interest in how humans think and behave. This includes philosophy, psychology, neurocognitive sciences, economics, political science, sociology, management, and organization studies. The Routledge Handbook of Bounded Rationality draws together an international team of leading experts to survey the recent literature and the latest developments in these related fields. The chapters feature entries on key behavioural phenomena, including reasoning, judgement, decision making, uncertainty, risk, heuristics and biases, and fast and frugal heuristics. The text also examines current ideas such as fast and slow thinking, nudge, ecological rationality, evolutionary psychology, embodied cognition, and neurophilosophy. Overall, the volume serves to provide the most complete state-of-the-art collection on bounded rationality available. This book is essential reading for students and scholars of economics, psychology, neurocognitive sciences, political sciences, and philosophy.