Bounded Rationality and Public Policy: A Perspective from Behavioural Economics / Edition 1

by Alistair Munro

Overview

This book is about bounded rationality and public policy. It is written from the p- spective of someone trained in public economics who has encountered the enormous literature on experiments in decision-making and wonders what implications it has for the normative aspects of public policy. Though there are a few new results or models, to a large degree the book is synthetic in tone, bringing together disparate literatures and seeking some accommodation between them. It has had a long genesis. It began with a draft of a few chapters in 2000, but has expanded in scope and size as the literature on behavioural economics has grown. At some point I realised that the geometric growth of behavioural - search and the arithmetic growth of my writing were inconsistent with an am- tion to be exhaustive. As such therefore I have concentrated on particular areas of behavioural economics and bounded rationality. The resulting book is laid out as follows: Chapter 1 provides an overview of the rest of the book, goes through some basic definitions and identifies themes.

Product Details

ISBN-13:	9789048181346
Publisher:	Springer Netherlands
Publication date:	12/14/2010
Series:	The Economics of Non-Market Goods and Resources , #12
Edition description:	Softcover reprint of hardcover 1st ed. 2009
Pages:	304
Product dimensions:	6.10(w) x 9.25(h) x 0.03(d)

Table of Contents

Anomalies.- Information, Learning and Markets.- Markets and Reference Dependent Preferences.- Welfare.- Public Policy and Bounded Rationality.- Standard Fiscal Policy and Merit Wants.- Agency and Dependency.- Tax Policy.- Framing Matters: Non-Standard Fiscal Policy.- Stated Preference and Non-Market Decisions.

Editorial Reviews

From the reviews:

“Alistair Munro’s book … provides an important contribution to this emerging literature. The author has a broad scope and examines several implications of bounded rationality that are of interest for public economics. … several implications of bounded rationality that are relevant for environmental economists are addressed, mainly for non-market valuation research. … The material is accessible for researchers or graduate students who want to be introduced to the topic, while several chapters tackle more advanced issues that can be of interest for an expert audience.” (W. J. W. Botzen, Environmental and Resource Economics, Vol. 49, 2011)

From the Publisher