The Psychology of Economic Decisions: Rationality and Well-Being

The Psychology of Economic Decisions: Rationality and Well-Being

by Isabelle Brocas
     
 

ISBN-10: 0199251088

ISBN-13: 9780199251087

Pub. Date: 04/28/2003

Publisher: Oxford University Press, USA

"Psychologists and economists often ask similar questions about human behaviour. This volume brings together contributions from leaders in both disciplines." "The editorial introduction discusses methodological differences between the two which have until now limited the development of mutually beneficial lines of research. Psychologists have objected to what they see…  See more details below

Overview

"Psychologists and economists often ask similar questions about human behaviour. This volume brings together contributions from leaders in both disciplines." "The editorial introduction discusses methodological differences between the two which have until now limited the development of mutually beneficial lines of research. Psychologists have objected to what they see as an excessive formalism in economic modelling, while economists criticize the absence of a general psychological framework into which most results can be fitted. The disciplines also lack a unified vocabulary. The editors encourage scholars to exploit the strengths of each discipline - the experimental skills of psychologists and their ability to understand the feelings and motivation of individuals; and economists' experience of developing normative frameworks." "The editors then highlight the links between the contributions by grouping them according to central themes in the study of behaviour." This volume provides a point of entry for anyone interested in the interface between economics and psychology.

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Product Details

ISBN-13:
9780199251087
Publisher:
Oxford University Press, USA
Publication date:
04/28/2003
Pages:
360
Product dimensions:
9.10(w) x 6.10(h) x 0.90(d)

Table of Contents

List of Figures
List of Tables
Introduction
1The Psychology of Irrationality: Why People Make Foolish, Self-Defeating Choices3
2Irrational Pursuits: Hyper-Incentives From a Visceral Brain17
3The Pursuit and Assessment of Happiness can be Self-Defeating41
4Behavioral Policy73
5Information and Self-Control89
6Self-Signaling and Diagnostic Utility in Everyday Decision Making105
7Mental Accounting and the Absent-minded Driver127
8Self-Knowledge and Self-Regulation: An Economic Approach137
9A New Challenge for Economics: 'The Frame Problem'169
10Experienced Utility and Objective Happiness: A Moment-Based Approach187
11Making Sense: The Causes of Emotional Evanescence209
12Temporal Construal Theory of Time-Dependent Preferences235
13Economists' and Psychologists' Experimental Practices: How They Differ, Why They Differ, and How They Could Converge253
14Psychology and the Financial Markets: Applications to Understanding and Remedying Irrational Decision-Making273
15What Causes Nominal Inertia? Insights From Experimental Economics299
Index315

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