The Psychology of Economic Decisions

Volume Two: Reasons and Choices

Häftad, Engelska, 2004

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Beskrivning

Psychologists have a long tradition of studying human behavior, strengths and weaknesses, biases and limitations. Economists have constructed normative frameworks that capture the most important elements of human decision-making and developed powerful tools to determine individual and strategic choices in a variety of situations. Only recently have their strengths been combined and economic models enriched with key ingredients found in psychological studies.This volume covers four of the most important themes in this interdisciplinary field: feelings, inconsistencies, limitations and biases. Each chapter contributes to a more comprehensive and accurate modelling and description of human behavior. Its four parts cover: the origins, formation, and evolution of beliefs; consistency, commitment, and intertemporal separability of dynamic choices; attention, preference formation, and risk evaluation in limited cognition; and affective behaviour, specifically the role of emotions in decision making.

Produktinformation

Utgivningsdatum:2004-07-22
Mått:156 x 233 x 15 mm
Vikt:420 g
Format:Häftad
Språk:Engelska
Antal sidor:258
Förlag:OUP OXFORD
ISBN:9780199257225

Utforska kategorier

Nationalekonomi inom Ekonomi och Ledarskap
Beteendeteori inom Psykologi och pedagogik

Mer om författaren

Isabelle Brocas is Assistant Professor at the University of Southern California, and Assistant Professor (on leave) at the Free University of Brussels. She is also a research affiliate at CEPR, a research advisor at EERC (Russia), and co-editor of the 'Annals of Marie Curie Fellows Association'.Juan D. Carrillo is Associate Professor at the University of Southern California, and is currently on leave from the Free University of Brussels. He is also a research affiliate at CEPR, a research advisor at EERC (Russia), and Associate Editor of the Spanish Economic Review.

Innehållsförteckning

0. Introduction ; PART I. BELIEFS: ORIGINS, FORMATION, AND EVOLUTION ; 1. Costs and constraints in the economy of the mind ; 2. Understanding under- and over-reaction ; 3. Self-serving beliefs and the pleasure of outcomes ; PART II. DYNAMIC CHOICES: CONSISTENCY, COMMITMENT AND INTERTEMPORAL SEPARABILITY ; 4. Commitment devices under self-control problems: an overview ; 5. Consistent intertemporal decision making through memory and anticipation ; 6. Dynamic decisions under uncertainty: some recent evidence from economics and psychology ; PART III. LIMITED COGNITION: ATTENTION, PREFERENCE FORMATION AND RISK EVALUATION ; 7. Thinking about attention in games: backward and forward induction ; 8. Arbitrarily coherent preferences ; 9. Perception matters: psychophysics for economists ; PART IV. AFFECTIVE BEHAVIOR: THE ROLE OF EMOTIONS IN DECISION-MAKING ; 10. The dark-side of opportunity: regret, disappointment and the cost of prospects ; 11. Mood regulation and decision-making: is irrational exuberance really a problem? ; 12. Which chance was lost? The psychology of damage awards under the loss of chance doctrine