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Recent Developments in Behavioral Economics
This book comprises, in one compact volume, cutting-edge research in behavioral economics and economic psychology, published mainly during the past five years. The judicious selection of articles examines the subject from a variety of perspectives and includes papers on the historical origins and methodologies of behavioral economics; rational choice in childhood; behavioral aspects of saving, risk and investment; effort, pay and poverty; seeking happiness; and social norms and culture. The editor has written an original introduction which illuminates and complements his choice.
More Information
Critical Acclaim
Contributors
Contents
More Information
This book comprises, in one compact volume, cutting-edge research in behavioral economics and economic psychology, published mainly during the past five years. The judicious selection of articles examines the subject from a variety of perspectives and includes papers on the historical origins and methodologies of behavioral economics; rational choice in childhood; behavioral aspects of saving, risk and investment; effort, pay and poverty; seeking happiness; and social norms and culture. The editor has written an original introduction which illuminates and complements his choice.
The book will be of interest to all who teach and research behavioural economics, as well as those who wish to learn about this growing discipline.
The book will be of interest to all who teach and research behavioural economics, as well as those who wish to learn about this growing discipline.
Critical Acclaim
‘The collected papers are with few exceptions intriguing, thought-provoking and creative, and they shed new light on old and important issues. Some of the contributions are revolutionary as they attempt to shake the foundations of standard of economics. . . the volume provides an inspiring read.’
– Jean-Robert Tyran, Journal of Economic Psychology
– Jean-Robert Tyran, Journal of Economic Psychology
Contributors
23 articles, dating from 1998 to 2005
Contributors include: C. Camerer, R. Frank, B. Frey, D. Kahneman, D. Laibson, G. Loewenstein, M. Rabin, R. Shiller, V. Smith, R. Thaler
Contributors include: C. Camerer, R. Frank, B. Frey, D. Kahneman, D. Laibson, G. Loewenstein, M. Rabin, R. Shiller, V. Smith, R. Thaler
Contents
Contents:
Acknowledgements
Introduction Shlomo Maital
PART I HISTORICAL ORIGINS OF BEHAVIORAL ECONOMICS
1. Nava Ashraf, Colin F. Camerer and George Loewenstein (2005), ‘Adam Smith, Behavioral Economist’
2. Daniel Kahneman (2003), ‘Experiences of Collaborative Research’
PART II METHODOLOGIES FOR RESEARCHING BEHAVIOR AND DECISION CHOICES
3. Vernon L. Smith (2002), ‘Method in Experiment: Rhetoric and Reality’
4. Colin Camerer, George Loewenstein and Drazen Prelec (2005), ‘Neuroeconomics: How Neuroscience Can Inform Economics’
5. Daniel Kahneman, Alan B. Krueger, David A. Schkade, Norbert Schwarz and Arthur A. Stone (2004), ‘A Survey Method for Characterizing Daily Life Experience: The Day Reconstruction Method’
PART III RATIONAL CHOICE IN CHILDHOOD
6. William T. Harbaugh, Kate Krause and Timothy R. Berry (2001), ‘GARP for Kids: On the Development of Rational Choice Behavior’
PART IV PRESENT-FUTURE CHOICE
7. Samuel M. McClure, David I. Laibson, George Loewenstein and Jonathan D. Cohen (2004), ‘Separate Neural Systems Value Immediate and Delayed Monetary Rewards’
PART V SAVING
8. Richard H. Thaler and Shlomo Benartzi (2004), ‘Save More Tomorrow™: Using Behavioral Economics to Increase Employee Saving’
PART VI RISK
9. Daniel Kahneman (2003), ‘A Perspective on Judgment and Choice: Mapping Bounded Rationality’
10. Matthew Rabin and Richard H. Thaler (2001), ‘Anomalies: Risk Aversion’
PART VII INVESTING MONEY
11. Daniel Kahneman and Mark W. Riepe (1998), ‘Aspects of Investor Psychology: Beliefs, Preferences and Biases Investment Advisors Should Know About’
12. Nicholas Barberis, Ming Huang and Tano Santos (2001), ‘Prospect Theory and Asset Prices’
13. Robert J. Shiller (2002), ‘Bubbles, Human Judgment, and Expert Opinion’
PART VIII EFFORT, PAY AND POVERTY
14. James Heyman and Dan Ariely (2004), ‘Effort for Payment: A Tale of Two Markets’
15. Marianne Bertrand, Sendhil Mullainathan and Eldar Shafir (2004), ‘A Behavioral-Economics View of Poverty’
PART IX SEEKING HAPPINESS
16. Carol Nickerson, Norbert Schwarz, Ed Diener and Daniel Kahneman (2003), ‘Zeroing in on the Dark Side of the American Dream: A Closer Look at the Negative Consequences of the Goal for Financial Success’
17. Bruno S. Frey and Alois Stutzer (2004), ‘Income’
18. Daniel Kahneman (2000), ‘Experienced Utility and Objective Happiness: A Moment-Based Approach’
PART X SOCIAL NORMS AND CULTURE
19. Joseph Henrich, Robert Boyd, Samuel Bowles, Colin Camerer, Ernst Fehr, Herbert Gintis, Richard McElreath, Michael Alvard, Abigail Barr, Jean Ensminger, Natalie Smith Henrich, Kim Hill, Francisco Gil-White, Michael Gurven, Frank Marlowe, John Q. Patton and David Tracer (2005), ‘“Economic Man” in Cross Cultural Perspective: Behavioral Experiments in 15 Small-Scale Societies’
20. Robert H. Frank (2004), ‘Does Studying Economics Inhibit Cooperation?’
21. Ofer H. Azar (2004), ‘What Sustains Social Norms and How They Evolve? The Case of Tipping’
PART XI PREFERENCES
22. Dan Ariely, George Loewenstein and Drazen Prelec (2006), ‘Tom Sawyer and the Construction of Value’
23. Marianne Bertrand and Sendhil Mullainathan (2001), ‘Do People Mean What They Say? Implications for Subjective Survey Data’
Name Index
Acknowledgements
Introduction Shlomo Maital
PART I HISTORICAL ORIGINS OF BEHAVIORAL ECONOMICS
1. Nava Ashraf, Colin F. Camerer and George Loewenstein (2005), ‘Adam Smith, Behavioral Economist’
2. Daniel Kahneman (2003), ‘Experiences of Collaborative Research’
PART II METHODOLOGIES FOR RESEARCHING BEHAVIOR AND DECISION CHOICES
3. Vernon L. Smith (2002), ‘Method in Experiment: Rhetoric and Reality’
4. Colin Camerer, George Loewenstein and Drazen Prelec (2005), ‘Neuroeconomics: How Neuroscience Can Inform Economics’
5. Daniel Kahneman, Alan B. Krueger, David A. Schkade, Norbert Schwarz and Arthur A. Stone (2004), ‘A Survey Method for Characterizing Daily Life Experience: The Day Reconstruction Method’
PART III RATIONAL CHOICE IN CHILDHOOD
6. William T. Harbaugh, Kate Krause and Timothy R. Berry (2001), ‘GARP for Kids: On the Development of Rational Choice Behavior’
PART IV PRESENT-FUTURE CHOICE
7. Samuel M. McClure, David I. Laibson, George Loewenstein and Jonathan D. Cohen (2004), ‘Separate Neural Systems Value Immediate and Delayed Monetary Rewards’
PART V SAVING
8. Richard H. Thaler and Shlomo Benartzi (2004), ‘Save More Tomorrow™: Using Behavioral Economics to Increase Employee Saving’
PART VI RISK
9. Daniel Kahneman (2003), ‘A Perspective on Judgment and Choice: Mapping Bounded Rationality’
10. Matthew Rabin and Richard H. Thaler (2001), ‘Anomalies: Risk Aversion’
PART VII INVESTING MONEY
11. Daniel Kahneman and Mark W. Riepe (1998), ‘Aspects of Investor Psychology: Beliefs, Preferences and Biases Investment Advisors Should Know About’
12. Nicholas Barberis, Ming Huang and Tano Santos (2001), ‘Prospect Theory and Asset Prices’
13. Robert J. Shiller (2002), ‘Bubbles, Human Judgment, and Expert Opinion’
PART VIII EFFORT, PAY AND POVERTY
14. James Heyman and Dan Ariely (2004), ‘Effort for Payment: A Tale of Two Markets’
15. Marianne Bertrand, Sendhil Mullainathan and Eldar Shafir (2004), ‘A Behavioral-Economics View of Poverty’
PART IX SEEKING HAPPINESS
16. Carol Nickerson, Norbert Schwarz, Ed Diener and Daniel Kahneman (2003), ‘Zeroing in on the Dark Side of the American Dream: A Closer Look at the Negative Consequences of the Goal for Financial Success’
17. Bruno S. Frey and Alois Stutzer (2004), ‘Income’
18. Daniel Kahneman (2000), ‘Experienced Utility and Objective Happiness: A Moment-Based Approach’
PART X SOCIAL NORMS AND CULTURE
19. Joseph Henrich, Robert Boyd, Samuel Bowles, Colin Camerer, Ernst Fehr, Herbert Gintis, Richard McElreath, Michael Alvard, Abigail Barr, Jean Ensminger, Natalie Smith Henrich, Kim Hill, Francisco Gil-White, Michael Gurven, Frank Marlowe, John Q. Patton and David Tracer (2005), ‘“Economic Man” in Cross Cultural Perspective: Behavioral Experiments in 15 Small-Scale Societies’
20. Robert H. Frank (2004), ‘Does Studying Economics Inhibit Cooperation?’
21. Ofer H. Azar (2004), ‘What Sustains Social Norms and How They Evolve? The Case of Tipping’
PART XI PREFERENCES
22. Dan Ariely, George Loewenstein and Drazen Prelec (2006), ‘Tom Sawyer and the Construction of Value’
23. Marianne Bertrand and Sendhil Mullainathan (2001), ‘Do People Mean What They Say? Implications for Subjective Survey Data’
Name Index
