Overview

Twenty years ago, behavioral economics did not exist as a field. Most economists were deeply skeptical--even antagonistic--toward the idea of importing insights from psychology into their field. Today, behavioral economics has become virtually mainstream. It is well represented in prominent journals and top economics departments, and behavioral economists, including several contributors to this volume, have garnered some of the most prestigious awards in the profession.

This ...

See more details below
Advances in Behavioral Economics

Available on NOOK devices and apps  
  • NOOK Devices
  • NOOK HD/HD+ Tablet
  • NOOK
  • NOOK Color
  • NOOK Tablet
  • Tablet/Phone
  • NOOK for Windows 8 Tablet
  • NOOK for iOS
  • NOOK for Android
  • NOOK Kids for iPad
  • PC/Mac
  • NOOK for Windows 8
  • NOOK for PC
  • NOOK for Mac
  • NOOK Study
  • NOOK for Web

Want a NOOK? Explore Now

NOOK Book (eBook - Course Book)
$39.99
BN.com price
(Save 42%)$70.00 List Price

Overview

Twenty years ago, behavioral economics did not exist as a field. Most economists were deeply skeptical--even antagonistic--toward the idea of importing insights from psychology into their field. Today, behavioral economics has become virtually mainstream. It is well represented in prominent journals and top economics departments, and behavioral economists, including several contributors to this volume, have garnered some of the most prestigious awards in the profession.

This book assembles the most important papers on behavioral economics published since around 1990. Among the 25 articles are many that update and extend earlier foundational contributions, as well as cutting-edge papers that break new theoretical and empirical ground.

Advances in Behavioral Economics will serve as the definitive one-volume resource for those who want to familiarize themselves with the new field or keep up-to-date with the latest developments. It will not only be a core text for students, but will be consulted widely by professional economists, as well as psychologists and social scientists with an interest in how behavioral insights are being applied in economics.

The articles, which follow Colin Camerer and George Loewenstein's introduction, are by the editors, George A. Akerlof, Linda Babcock, Shlomo Benartzi, Vincent P. Crawford, Peter Diamond, Ernst Fehr, Robert H. Frank, Shane Frederick, Simon Gächter, David Genesove, Itzhak Gilboa, Uri Gneezy, Robert M. Hutchens, Daniel Kahneman, Jack L. Knetsch, David Laibson, Christopher Mayer, Terrance Odean, Ted O'Donoghue, Aldo Rustichini, David Schmeidler, Klaus M. Schmidt, Eldar Shafir, Hersh M. Shefrin, Chris Starmer, Richard H. Thaler, Amos Tversky, and Janet L. Yellen.

Read More Show Less

Product Details

  • ISBN-13: 9781400829118
  • Publisher: Princeton University Press
  • Publication date: 12/12/2011
  • Series: Roundtable Series in Behavioral Economics
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition description: Course Book
  • Pages: 776
  • Sales rank: 1,220,525
  • File size: 13 MB
  • Note: This product may take a few minutes to download.

Meet the Author

Colin F. Camerer is Rea A. and Lela G. Axline Professor of Business Economics at the California Institute of Technology. He is the author of "Behavioral Game Theory "(Princeton). George Loewenstein is Professor of Economics and Psychology at Carnegie Mellon University. Matthew Rabin, Professor of Economics at the University of California, Berkeley, received the John Bates Clark Medal of the American Economics Association for 2001.
Read More Show Less

Table of Contents

LIST OF CONTRIBUTORS xi
PREFACE xxi
ACKNOWLEDGMENTS xxv
PART ONE: INTRODUCTION 1
CHAPTER ONE
Behavioral Economics: Past, Present, Future by Colin F. Camerer and George Loewenstein 3
PART TWO: BASIC TOPICS 53
REFERENCE-DEPENDENCE AND LOSS-AVERSION
CHAPTER TWO
Experimental Tests of the Endowment Effect and the Coase Theorem by Daniel Kahneman, Jack L. Knetsch, and Richard H. Thaler 55
CHAPTER THREE
Mental Accounting Matters by Richard H. Thaler 75
PREFERENCES OVER RISKY AND UNCERTAIN OUTCOMES
CHAPTER FOUR
Developments in Nonexpected-Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk by Chris Starmer 104
CHAPTER FIVE
Prospect Theory in the Wild: Evidence from the Field by Colin F. Camerer 148
INTERTEMPORAL CHOICE
CHAPTER SIX
Time Discounting and Time Preference: A Critical Review by Shane Frederick, George Loewenstein, and Ted O'Donoghue 162
CHAPTER SEVEN
Doing It Now or Later by Ted O'Donoghue and Matthew Rabin 223
FAIRNESS AND SOCIAL PREFERENCES
CHAPTER EIGHT
Fairness as a Constraint on Profit Seeking: Entitlements in the Market by Daniel Kahneman, Jack L. Knetsch, and Richard H. Thaler 252
CHAPTER NINE
A Theory of Fairness, Competition, and Cooperation by Ernst Fehr and Klaus M. Schmidt 271
CHAPTER TEN
Incorporating Fairness into Game Theory and Economics by Matthew Rabin 297
CHAPTER ELEVEN
Explaining Bargaining Impasse: The Role of Self-Serving Biases by Linda Babcock and George Loewenstein 326
GAME THEORY
CHAPTER TWELVE
Theory and Experiment in the Analysis of Strategic Interaction by Vincent P. Crawford 344
CHAPTER THIRTEEN
Behavioral Game Theory: Predicting Human Behavior in Strategic Situations by Colin F. Camerer 374
PART THREE: APPLICATIONS 393
MACROECONOMICS AND SAVINGS
CHAPTER FOURTEEN
Mental Accounting, Saving, and Self-Control by Hersh M. Shefrin and Richard H. Thaler 395
CHAPTER FIFTEEN
Golden Eggs and Hyperbolic Discounting by David Laibson 429
CHAPTER SIXTEEN
The Fair Wage-Effort Hypothesis and Unemployment by George A. Akerlof and Janet L. Yellen 458
CHAPTER SEVENTEEN
Money Illusion by Eldar Shafir, Peter Diamond, and Amos Tversky 483
LABOR ECONOMICS
CHAPTER EIGHTEEN
Fairness and Retaliation: The Economics of Reciprocity by Ernst Fehr and Simon Gächter 510
CHAPTER NINETEEN
Labor Supply of New York City Cab Drivers: One Day at a Time by Colin F. Camerer, Linda Babcock, George Loewenstein, and Richard H. Thaler 533
CHAPTER TWENTY
Wages, Seniority, and the Demand for Rising Consumption Profiles by Robert H. Frank and Robert M. Hutchens 548
CHAPTER TWENTY-ONE
Incentives, Punishment, and Behavior by Uri Gneezy and Aldo Rustichini 572
FINANCE
CHAPTER TWENTY-TWO
Myopic Loss-Aversion and the Equity Premium Puzzle by Shlomo Benartzi and Richard H. Thaler 590
CHAPTER TWENTY-THREE
Do Investors Trade Too Much? by Terrance Odean 606
CHAPTER TWENTY-FOUR
Loss-Aversion and Seller Behavior: Evidence from the Housing Market by David Genesove and Christopher Mayer 633
PART FOUR: NEW FOUNDATIONS 657
CHAPTER TWENTY-FIVE
Case-Based Decision Theory by Itzhak Gilboa and David Schmeidler 659
CHAPTER TWENTY-SIX
Out of Control: Visceral Influences on Behavior by George Loewenstein 689
INDEX 725
Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)