Toward a Wider Vision of Behavioral Economics

This book challenges constructively the conventional wisdom that behavioral economics should be viewed primarily as being about "e;nudge"e;-based policies and how choices are affected by "e;supposedly irrelevant factors"e; and bias-inducing heuristics. Its author began studying behavioral economics in the mid-1970s at the University of Cambridge, inspired by existing behavioral contributions of which most modern behavioral economists are largely oblivious. The intellectual journey that followed led him to a much richer view of behavioral economics and its research opportunities than the one championed by Nobel Laureate Richard Thaler. The book provides an account of this journey, the key sources of inspiration and the main themes in the author's contributions to the field. It then closes with a summary of the view at which he arrived. To help early-career behavioral economists further reduce their risks of career under-achievement, the author reflects candidly, along the way, on strategic mistakes he made that contributed to the wider view not attracting the attention that its potential warrants. "e;Earl narrates his journey along a less-traveled path with unusual and commendable candor, but also with a more distinctive touch, a dedication to put his academic achievements under unflinching scrutiny. In this regard, he has produced what is perhaps one of the least self-indulgent intellectual autobiographies ever written. … [T]he game with Thaler is certainly not over. To some extent, it may be said that the game has just started. How will it end? Well, it's just too early to say."e; (Enrico Petracca.  Oeconomia) "e;We see Earl constantly attracted by the discovery of new potentialities and applications of his enlarged view of economic behavior, finding new complementary literatures and uncovering new connections by rereading and revisiting those authors that accompanied him all his career. His commitment has translated into an incredibly rich set of publications that has made Earl a recognized reference point for whoever is engaged in a pluralistic view of economic behavior. …This is a book for permeable minds."e; (Marina Bianchi, Journal of Economic Psychology) "e;We see in this book not only Earl's intellectual talent but also his frustration with both himself and his profession for various failings that, in his judgement, prevented his insights from gaining broader traction and potentially uniting together more strands of thought in the fields of behavioural science, organizational behaviour, management science, contract theory, operational analysis, consumer behaviour and related fields. … Bravo, Peter, for telling it like it is."e; (Gigi Foster, Economic Record) Peter Earl is an Honorary Associate Professor of Economics at the University of Queensland, Australia. He is a past editor of the Journal of Economic Psychology and the author of Principles of Behavioral Economics: Bringing Together Old, New and Evolutionary Approaches (Cambridge University Press, 2022)..