The Making of Behavioral Economics

Book - 2015 | First edition
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Argues that economical trends cannot be predicted as much as thought, mainly because humans are so unpredictable, and reveals how behavioral economic analysis opens up new ways to look at everything from household finance to assigning faculty offices in a new building.
Publisher: New York : W.W. Norton & Company, [2015]
Edition: First edition
Copyright Date: ©2015
ISBN: 9780393080940
Branch Call Number: 330.01 Thal
Characteristics: xvi, 415 pages : illustrations ; 25 cm
Contents: Preface
I. Beginnings : 1970-78
1. Supposedly irrelevant factors
2. The endowment effect
3. The list
4. Value theory
5. California dreamin'
6. The gauntlet
II. Mental accounting : 1979-85
7. Bargains and rip-offs
8. Sunk costs
9. Buckets and budgets
10. At the poker table
III. Self-Control : 1975-88
11. Willpower? No problem
12. The Planner and the doer
13. Misbehaving in the real world
IV. Working With Danny : 1984-85
14. What seems fair?
15. Fairness games
16. Mugs
V. Engaging with the economics profession: 1986-94
17. The debate begins
18. Anomalies
19. Forming a team
20. Narrow framing on the Upper East Side
VI. Finance : 1983-2003
21. The beauty contest
22. Does the stock market overreact?
23. The reaction to overreaction
24. The price Is not right
25. The battle of closed-end funds
26. Fruit flies, icebergs, and negative stock prices
VII. Welcome to Chicago : 1995-present
27. Law schooling
28. The offices
29. Football
30. Game shows
VIII. Helping out : 2004-present
31. Save more tomorrow
32. Going public
33. Nudging in the U.K.
Conclusion: What is next?


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Feb 05, 2017

This book explained 2 subjects to me - economics (not my favorite) and behavior (I am fascinated by it). I found it understandable and accessible. Lots of anecdotes and stories that helped put the "dry" spots (theory) into perspective. It's not something I would have reached for normally - I was drawn to the book while browsing in the airport book shop while waiting for a 5 hour flight to California this summer. I bought it thinking it would be a good airplane read. I couldn't put it down! I found it to be a very good overview of the subject which I had heard of but knew very little about. If you're interested in learning some ideas/theories about why people make the decisions they do - this is a good read. Covers the subject - behavioral economics - well and provides a good history of this "science" that impacts us all.


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