Personality and Cognition in Economic Decision Making PDF Download

Author: Aurora García-Gallego
Publisher: Frontiers Media SA
ISBN: 2889452360
Category : Decision making
Languages : en
Pages : 234

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Book Description
Psychologists studying cognitive processes and personality have increasingly benefited from the wealth of theory, methodology, and decision making paradigms used in economics and game theory. Similarly, for the economists, personality traits and basic cognitive processes offer a set of coherent explanatory constructs in economic behavior. Given the debate on preference invariance and behavioral consistency across contexts and domains, the papers in this topic shed light on the existence and effect of stable sets of idiosyncratic features on economic decision-making. While the effects of personality and cognition on economic decisions remain under-explored, the papers contributed in this topic offer more than a stimulus for further research. The general message could be that personality and cognitive processes offer the stable idiosyncratic ground on which individual decisions are made.

Author: Isabelle Brocas
Publisher: Oxford University Press, USA
ISBN: 0199257221
Category : Business & Economics
Languages : en
Pages : 259

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Book Description
This volume brings together contributions to the burgeoning research area of behavioral economics from a number of well-known international scholars in the field. Topics covered include 'irrational' conducts; imperfect self-knowledge; imperfect memory; time and utility; and experimental practices in psychology, economics, and finance. This book will provide a point of entry to anyone wishing to discover what the intellectual terrain between economics and psychology looks like.

Author: Evan A. Wilhelms
Publisher: Psychology Press
ISBN: 1317652746
Category : Psychology
Languages : en
Pages : 310

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Book Description
This volume explores how and why people make judgments and decisions that have economic consequences, and what the implications are for human well-being. It provides an integrated review of the latest research from many different disciplines, including social, cognitive, and developmental psychology; neuroscience and neurobiology; and economics and business. The book has six areas of focus: historical foundations; cognitive consistency and inconsistency; heuristics and biases; neuroeconomics and neurobiology; developmental and individual differences; and improving decisions. Throughout, the contributors draw out implications from traditional behavioral research as well as evidence from neuroscience. In recent years, neuroscientific methods have matured, beyond being simply correlational and descriptive, into theoretical prediction and explanation, and this has opened up many new areas of discovery about economic behavior that are reviewed in the book. In the final part, there are applications of the research to cognitive development, individual differences, and the improving of decisions. The book takes a broad perspective and is written in an accessible way so as to reach a wide audience of advanced students and researchers interested in behavioral economics and related areas. This includes neuroscientists, neuropsychologists, clinicians, psychologists (developmental, social, and cognitive), economists and other social scientists; legal scholars and criminologists; professionals in public health and medicine; educators; evidence-based practitioners; and policy-makers.

Author: Paul Bourgine
Publisher: Springer Science & Business Media
ISBN: 3540247084
Category : Business & Economics
Languages : en
Pages : 479

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Book Description
The social sciences study knowing subjects and their interactions. A "cog nitive turn", based on cognitive science, has the potential to enrich these sciences considerably. Cognitive economics belongs within this movement of the social sciences. It aims to take into account the cognitive processes of individuals in economic theory, both on the level of the agent and on the level of their dynamic interactions and the resulting collective phenomena. This is an ambitious research programme that aims to link two levels of com plexity: the level of cognitive phenomena as studied and tested by cognitive science, and the level of collective phenomena produced by the economic in teractions between agents. Such an objective requires cooperation, not only between economists and cognitive scientists but also with mathematicians, physicists and computer scientists, in order to renew, study and simulate models of dynamical systems involving economic agents and their cognitive mechanisms. The hard core of classical economics is the General Equilibrium Theory, based on the optimising rationality of the agent and on static concepts of equilibrium, following a point of view systemised in the framework of Game Theory. The agent is considered "rational" if everything takes place as if he was maximising a function representing his preferences, his utility function.

Author: Robert L Leahy, PhD
Publisher: Springer Publishing Company
ISBN: 0826150438
Category : Medical
Languages : en
Pages : 249

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Book Description
This book elaborates on a multidimensional model of decision-making that applies to how individuals make "mundane decisions." Decisions about pursuing relationships, exercise, work, or anything where people might have to "invest" time or behavioral effort are examples. The author utilizes cognitive-developmental theory to understand how children and adolescents make sense of economic inequality. This modern portfolio theory model of decision-making applies economic concepts to everyday life and may help us understand why individuals differ in their willingness to take risks. It also contributes to our knowledge of personality disorders such as depression and mania. For Further Information, Please Click Here!

Author: Marcello Basili
Publisher: Routledge
ISBN: 1134362285
Category : Business & Economics
Languages : en
Pages : 263

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Book Description
In recent years the understanding of the cognitive foundations of economic behavior has become increasingly important. This volume contains contributions from such leading scholars as Adam Brandenburger, Michael Bacharach and Patrick Suppes. It will be of great interest to academics and researchers involved in the field of economics and psychology as well as those interested in political economy more generally.

Author: Alessandro Innocenti
Publisher: Routledge
ISBN: 0415678439
Category : Business & Economics
Languages : en
Pages : 258

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Book Description
In the last two decades there has been a flourishing research carried out jointly by economists, psychologists and neuroscientists. This meltdown of competences has lead towards original approaches to investigate the mental and cognitive mechanisms involved in the way the economic agent collects, processes and uses information to make choices. This research field involves a new kind of scientist, trained in different disciplines, familiar in managing experimental data, and with the mathematical foundations of decision making. The ultimate goal of this research is to open the black-box to understandthe behavioural and neural processes through which humans set preferences and translate these behaviours into optimal choices. This volume intends to bring forward new results and fresh insights into this matter.

Author: Klaus P. Hofmann
Publisher: Nova Publishers
ISBN: 9781600219177
Category : Business & Economics
Languages : en
Pages : 246

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Book Description
In a fast-moving world, the necessity of making decisions, and preferably good ones, has become even more difficult. One reason is the variety and number of choices perhaps available which often are not presented or understood. Alternatives are often unclear and complex paths to them confusing and misleading. Thus the process of decision making itself requires analysis on an ongoing basis. Decision making is often made based on cultural factors whereas the best alternative might be quite different. The subject touches ethics aspects as well as psychological considerations. This book presents important research on the psychology of decision making related to economics, business and finance.

Author: Tomasz Zaleskiewicz
Publisher: Springer Nature
ISBN: 3030455009
Category : Psychology
Languages : en
Pages : 367

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Book Description
This book reviews the latest research from psychology, neuroscience, and behavioral economics evaluating how people make financial choices in real-life circumstances. The volume is divided into three sections investigating financial decision making at the level of the brain, the level of an individual decision maker, and the level of the society, concluding with a discussion of the implications for further research. Among the topics discussed: Neural and hormonal bases of financial decision making Personality, cognitive abilities, emotions, and financial decisions Aging and financial decision making Coping methods for making financial choices under uncertainty Stock market crashes and market bubbles Psychological perspectives on borrowing, paying taxes, gambling, and charitable giving Psychological Perspectives on Financial Decision Making is a useful reference for researchers both in and outside of psychology, including decision-making experts, consumer psychologists, and behavioral economists.

Author: Sohaib Hasan
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description
Abstract: In this thesis, we compare the abilities of Big Five locus of personality traits, religiosity, risk aversion, contextual, and historical variables in explaining behavior in the Trust Game, the Minimum Effort Game, and a Cheap Talk Game. We find that that behavior in the games is largely explained by contextual and historical variables, with some influence from personality traits. This suggests that, while there is a role for personality traits in explaining behavior in economic settings, most variation is explained by the context of economic interactions and the results of previous interactions.