Behavioral Economics: 3rd Edition (Paperback) book cover

Behavioral Economics

3rd Edition

By Edward Cartwright

© 2018 – Routledge

556 pages | 206 B/W Illus.

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Paperback: 9781138097124
pub: 2018-01-23
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Description

Over the last few decades behavioral economics has revolutionized the discipline. It has done so by putting the human back into economics, by recognizing that people sometimes make mistakes, care about others and are generally not as cold and calculating as economists have traditionally assumed. The results have been exciting and fascinating, and have fundamentally changed the way we look at economic behavior.

This textbook introduces all the key results and insights of behavioral economics to a student audience. Ideas such as mental accounting, prospect theory, present bias, inequality aversion and learning are explained in detail. These ideas are also applied in diverse settings such as auctions, stock market crashes, charitable donations and health care, to show why behavioral economics is crucial to understanding the world around us. Consideration is also given to what makes people happy, and how we can potentially nudge people to be happier.

This new edition contains expanded and updated coverage of contract theory, bargaining in the family, time and risk, and stochastic reference points, among other topics, to ensure that readers are kept up to speed with this fast-paced field. The companion website is also updated with a range of new questions and worked examples. This book remains the ideal introduction to behavioral economics for advanced undergraduate and graduate students.

Table of Contents

PART I

Introduction

1 An introduction to behavioral economics

PART II

Economic behavior

2 Simple heuristics for complex choices

3 Choice with risk

4 Choosing when to act

5 Learning from new information

6 Interacting with others

7 Social preferences

PART III

Origins of behavior

8 Evolution and culture

9 Neuroeconomics

PART IV

Welfare and policy

10 Happiness and utility

11 Policy and behavior

About the Author

Edward Cartwright is a Reader in Economics at the University of Kent, Canterbury, UK.

About the Series

Routledge Advanced Texts in Economics and Finance

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
BUS044000
BUSINESS & ECONOMICS / Economics / Microeconomics
BUS047000
BUSINESS & ECONOMICS / Negotiating