Behavioural Economics and Finance

Behavioural Economics and Finance

by Michelle Baddeley

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Overview

Standard models in economics and finance usually assume that people are rational, self-interested maximisers, effectively co-ordinated via the invisible hand of the price mechanism. Whilst these approaches produce tractable, simple models, they cannot fully capture the uncertainties and instabilities that affect everyday choices in today’s complex world. Insights from the other social and behavioural sciences can help to fill the gap and behavioural economics is the subject which brings economics and finance together with psychology, neuroscience and sociology. Behavioural Economics and Finance introduces the reader to some of the key concepts and insights from this rich, inter-disciplinary approach to real-world decision-making.

Product Details

ISBN-13: 9781351813983
Publisher: Taylor & Francis
Publication date: 10/17/2018
Sold by: Barnes & Noble
Format: NOOK Book
Pages: 344
File size: 2 MB

About the Author

Michelle Baddeley is a behavioural economist and applied economist based at the University of South Australia’s Institute for Choice in Sydney. She is an Honorary Professor with University College London’s Institute for Global Prosperity, Associate Researcher with the Cambridge Energy Policy Research Group and Associate Fellow with the Centre for Science and Policy, University of Cambridge. She has also worked with policy-makers across a diverse range of themes and her research brings economic insights from applied economics, behavioural economics, behavioural finance and neuroeconomics to multidisciplinary studies.

Table of Contents

1. Introducing Behavioural Economics. PART I MICROECONOMIC PRINCIPLES. 2. Motivations and Incentives. 3. Heuristics and Bias. 4. Prospects and Regrets. 5. Learning. 6. Sociality and Identity 7. Time and Plans. 8. Bad Habits. 9. Personality, Moods and Emotions. PART II EXTENSIONS: POLICY, NEUROECONOMICS AND BEHAVIOURAL FINANCE. 10. Behavioural Public Policy. 11. Neuroeconomics I: Principles. 12. Neuroeconomics II: Evidence. 13. Behavioural Anomalies in Finance. 14. Corporate Investment and Finance. 15. Emotional Trading. PART III MACROECONOMICS AND FINANCIAL SYSTEMS. 16. Behavioural Macroeconomics. 17 Financial Instability and Macroeconomic Performance. 18 Happiness and Wellbeing.

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