Judgments, Decisions, and Public Policy

by Rajeev Gowda (Editor), Jeffrey C. Fox (Editor)

Overview

When people make judgments and choices, especially when faced with uncertainty, they behave in a manner that seems complex and irrational. Cognitive psychologists have identified and organized these patterns of behavior into a descriptively accurate model of human judgments and choices called behavioral decision theory. Incorporating this theory's insights in public policy analysis will enhance our ability to design better policies and enable us to understand the limits of effective regulation.

Product Details

ISBN-13:	9780521179959
Publisher:	Cambridge University Press
Publication date:	02/17/2011
Series:	Cambridge Series on Judgment and Decision Making
Edition description:	Reissue
Pages:	386
Product dimensions:	6.00(w) x 8.90(h) x 1.10(d)

Table of Contents

Part I. The Fundamentals of Behavioral Decision Theory: 1. Judgment and decision making: extrapolations and applications Chris Swoyer; 2. Some morals of a theory of non-rational choice Douglas MacLean; 3. Cognition, intuition, and policy guidelines Eldar Shafir; Part II. Economic Applications and Contrasts: 4. Policy analysis and design with losses valued more than gains, and varying rates of time preference Jack L. Knetsch; 5. Comparing micro and macro rationality Robert J. MacCoun; 6. Bounded rationality versus standard utility-maximization: a test of energy 'price' responsiveness Lee S. Friedman; Part III. Applications to Political and Legal Processes and Institutions: 7. Judgmental heuristics and news reporting Sharon Dunwoody and Robert J. Griffin; 8. A behavioral approach to political advertising research Jeffrey C. Fox and Rick Farmer; 9. Toward behavioral law and economics Cass R. Sunstein; Part IV. Other Policy Applications: 10. Enhancing the effectiveness of innovative policy instruments: the implications of behavioral decision theory for right-to-know policies Rajeev Gowda; 11. Behavioral perceptions and policies toward the environment Anthony Patt and Richard J. Zeckhauser; 12. The affect heuristic: implications for understanding and managing risk-induced stigma Howard Kunreuther and Paul Slovic; 13. Enlarging the pie by accepting small losses for large gains Jonathan Baron and Max H. Bazerman; Part V. Commentary and Cautionary Note: 14. The virtues of cognitive humility: for us as well as them Philip E. Tetlock.

Editorial Reviews

Review of the hardback: '… a useful and stimulating addition to the Cambridge series. It illustrates well the breadth of areas where behavioural decision theory can inform our understanding of the patterns of behaviour and response we encounter. It identifies the fact that we are at the stage where we are becoming only too uncomfortably aware of the magnitude and diversity of the challenges - but where, as yet, we have only reached a limited understanding of how to take proper account of them in the formulation and implementation of public policy.' Journal of Risk Research

From the Publisher