Recent Developments in Behavioral Economics

Edited by Shlomo Maital, Academic Director, TIM-Tel Aviv, Israel and Senior Researcher, S. Neaman Institute for Advanced Studies in Science and Technology, Technion, Haifa, Israel

'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.'

• Contents:AcknowledgementsIntroduction Shlomo MaitalPART IHISTORICAL 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 IIMETHODOLOGIES 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 IIIRATIONAL 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 IVPRESENT-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 VSAVING 8. Richard H. Thaler and Shlomo Benartzi (2004), ‘Save More Tomorrow™: Using Behavioral Economics to Increase Employee Saving’PART VIRISK 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 VIIINVESTING MONEY11. 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 VIIIEFFORT, 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 IXSEEKING 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 XSOCIAL 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 XIPREFERENCES 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