A Course in Behavioral Economics is a concise and reader-friendly introduction to one of the most influential areas of economics today. Covering all core areas of the subject, the book requires no advanced mathematics and is full of examples, exercises, and problems drawn from the fields of economics, management, marketing, political science, and public policy, among others. It is an ideal first textbook for students coming to behavioral economics from a wide range of disciplines, and would also appeal to the general reader looking for a thorough and readable introduction to the subject. .Available to lecturers: access to an Instructor's Manual at www.palgrave.com/economics/angner, containingsample syllabi, an instructor guide, sample handouts and examinations, and PowerPoint slides. INDICE: Preface .INTRODUCTION .1 Introduction.1.1 What is this book?.1.2 The origins of behavioral economics .1.3 Methods.1.4 Looking ahead .I CHOICE UNDER CERTAINTY .2 Rational Choice Under Certainty .2.1 Introduction .2.2 Preferences .2.3 Rational preferences.Box: Logical symbols.2.4 Indifference and strict preference.Box: How to do proofs .2.5 Preference orderings.2.6 Choice undercertainty.2.7 Utility .Box: A final word about proofs .2.8 Discussion .3 Decision-making Under Certainty .3.1 Introduction .3.2 Opportunity costs .3.3 Sunkcosts .3.4 Menu dependence and the decoy effect.3.5 Loss aversion and the endowment effect .3.6 Anchoring and adjustment.3.7 Discussion.II JUDGMENT UNDER RISK AND UNCERTAINTY.4 Probability Judgment.4.1 Introduction .4.2 Fundamentals of probability theory.4.3 Unconditional probability.Box: Odds.4.4 Conditional probability.4.5 Total probability and Bayes's rule .4.6 Bayesian updating .4.7Discussion .5 Judgment Under Risk And Uncertainty .5.1 Introduction.5.2 The gambler's fallacy.5.3 Conjunction and disjunction fallacies .5.4 Base-rate neglect .5.5 Confirmation bias .5.6 Availability .5.7 Discussion.III CHOICE UNDER RISK AND UNCERTAINTY .6 Rational Choice Under Risk and Uncertainty .6.1 Introduction .6.2 Uncertainty.6.3 Expected value.6.4 Expected utility.6.5 Attitudes toward risk.6.6 Discussion .7 Decision-Making under Risk and Uncertainty .7.1 Introduction .7.2 Framing effects in decision-making under risk.7.3 Bundling and mental accounting.7.4 The Allais problem and the sure-thing principle.7.5 The Ellsberg problem and ambiguity aversion .7.6 Probability weighting.7.7 Discussion.IV INTERTEMPORAL CHOICE.8 The Discounted Utility Model.8.1 Introduction.8.2 Interest rates .8.3 Exponential discounting .Box: Discount rates .8.4 Discussion.9 Intertemporal Choice.9.1 Introduction .9.2 Hyperbolic discounting .9.3 Choosing not to choose .9.4 Preferences over profiles.9.5 Discussion.V STRATEGIC INTERACTION.10 Analytical Game Theory.10.1 Introduction .10.2 Nash equilibrium in pure strategies .10.3 Nash equilibrium in mixed strategies .10.4 Equilibrium refinements .10.5 Discussion .11 Behavioral Game Theory.11.1 Introduction .11.2 Social preferences: altruism, envy, fairness, and justice.11.3 Intentions, reciprocity, and trust .11.4 Limited strategic thinking.11.5 Discussion.VI CONCLUDING REMARKS.12 General Discussion.12.1 Introduction.12.2 Behavioral welfare economics .12.3 Assessing behavioral economics .12.4 Conclusion .Answer Key .Bibliography .Index
- ISBN: 978-0-230-30454-3
- Editorial: Palgrave Macmillan
- Encuadernacion: Rústica
- Páginas: 272
- Fecha Publicación: 27/04/2012
- Nº Volúmenes: 1
- Idioma: Inglés