An Introduction to Behavioral Economics

An Introduction to Behavioral Economics

Paperback

By (author) Nick Wilkinson, By (author) Matthias Klaes

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  • Publisher: Palgrave MacMillan
  • Format: Paperback | 592 pages
  • Dimensions: 188mm x 246mm x 28mm | 1,139g
  • Publication date: 15 April 2012
  • Publication City/Country: Basingstoke
  • ISBN 10: 0230291465
  • ISBN 13: 9780230291461
  • Edition: 2, Revised
  • Edition statement: 2nd Revised edition
  • Illustrations note: 22 graphs, 22 diagrames
  • Sales rank: 263,106

Product description

An Introduction to Behavioral Economics offers a comprehensive, rigorous, and up-to-date introduction to what is one of the most rapidly advancing areas in economics today. It considers the debates in this exciting field through a cross-disciplinary approach that incorporates insights from economics and other social sciences, as well as evolutionary biology and neuroscience. This edition features: * two new chapters, Chapter 2 on methodology and Chapter 4 on beliefs, heuristics and biases * fully revised content, including expanded material on neuroeconomics, rationality, and behavioral game theory * a large number of real-life case studies and examples, as well as review questions

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Author information

NICK WILKINSON is Professor at Richmond the American International University in London and has taught economics and finance in various international institutions in the UK and USA. He has also worked in business management in both countries and served as a consultant to many companies, mainly in the leisure industry. He has authored two books, 'Managerial Economics: A Problem-Solving Approach', published by Cambridge University Press (2005), and 'An Introduction to Behavioral Economics', published by Palgrave Macmillan (2007), now in its second edition. His research interests lie in that field, particularly in the implications of evolutionary biology and neuroscience for behavioral economics. MATTHIAS KLAES is Professor and Dean of the School of Business at the University of Dundee, UK, as well as Convenor of the Scottish Centre for Economic Methodology (SCEME). Having studied at universities in Germany, Holland, France, Scotland, and England, he has got a background in engineering, economics and management studies, as well as science studies. He has served as Managing Editor of the Journal for Economic Methodology, and has acted as adviser to both private and public sector bodies. Before joining Dundee he was Professor of Commerce at Keele University, and Reader in Economics at the University of Stirling. He publishes widely in new institutional and behavioral economics, and economic and management methodology.

Review quote

"The second volume expands, and brings up to date, this engaging and erudite introduction to the field of behavioral economics. By providing their own unique and interesting perspective on the material they review, the authors succeed at the difficult task of holding the reader's interest while providing remarkably comprehensive coverage. This book will help readers to share in the excitement of those currently working in the field." George Loewenstein, Carnegie Mellon University, USA "This book provides an excellent overview of the most important advancements in the field of behavioural and experimental economics. It is a brilliant textbook for social researchers, as well as for students interested in this exciting area." Michalis Drouvelis, University of Birmingham, UK "Behavioral Economics is a wonderful introduction to the emerging field of behavioral economics to advanced undergraduates and masters students alike. It has a comprehensive treatment of individual decision-making, while also covering the more recent developments in behavioral game theory." Miguel A. Fonseca, University of Exeter, UK "Behavioural economics has gone mainstream. With its new status comes the demand for it in the undergraduate curriculum. Introduction to Behavioral Economics is comprehensive, while presented with the minimum technical fuss and replete with examples that are easy to relate to. All in all, it should prove to be a very useful and accessible introductory text at the undergraduate level." Sujoy Mukerji, Oxford University, UK 'This book is highly valuable for the field of behavioral economics as it gives a comprehensive overview of both individual decision making and decision making in strategic settings with at least two individuals. It serves very well not only for teaching to graduate and undergraduate students, but also as a reference for specialists.' Kirsten I.M. Rohde, Erasmus School of Economics, Erasmus University Rotterdam, the Netherlands "This edition has the full potential to continue to serve as a leading textbook in the field of behavioral economics. Its intuitive structure, comprehensive coverage of the topics, and discussion-stimulating case studies will be highly appreciated by the reader. It is rare that a second edition offers such a dramatic improvement, both pedagogically and content-wise. In addition to being a premier text for the upper level undergraduate and graduate students, it is an outstanding reference book for any researcher in the field." Natalia V. Czap, University of Michigan, USA

Table of contents

PARTI: INTRODUCTION Nature of Behavioral Economics Methodology PARTII: FOUNDATIONS Values, Preferences and Choices Beliefs, Heuristics and Biases Decision-making under Risk and Uncertainty Mental Accounting PARTIII: INTERTEMPORAL CHOICE The Discounted Utility Model Alternative Intertemporal Choice Models PARTIV: STRATEGIC INTERACTION Behavioral Game Theory Social Preferences PARTV: CONCLUSION Behavioral Economics: Summary and Outlook