MORRIS ALTMAN, EDITOR
|
|
- Holly Newman
- 5 years ago
- Views:
Transcription
1 Real-World Decision Making An Encyclopedia of Behavioral Economics MORRIS ALTMAN, EDITOR 0 GREENWOOD» An Imprint of ABC-CLIO, LLC Santa Barbara, California Denver, Colorado
2 Contents Preface Introduction xiii xv A-Z Entries Addiction 1 Advertising and Behavioral Economics 3 Akerlof, George 5 Allocative Efficiency and X-Efficiency 6 Altruism 8 Altruistic Punishments 10 Ambiguity Aversion 12 Amygdala and Behavioral Economics 14 Anchoring 16 Animal Spirits 17 Anomalies (Economic Behavior) 19 Asymmetrie Information 20 Bandwagon Effect 23 Bargaining Power 24 Beauty Contest/Guessing Game 26 Behavioral Economics 27 Behavioral Finance 31 Behavioral Insights Team 33 Behavioral Responses According to In-Depth Interviews 35 Bounded Rationality 36 Brain Scans and Behavioral Economics 39 Bröken Windows 40 Bubbles (dot.com; Financial Markets; Housing; Tulips) 42 Bubbles (Great Depression) 44 Bubbles (Markets) 46 Büffet (All-You-Can-Eat Behavior) 48
3 vi CONTENTS Bullying and Economic Efficiency Calendar Effect ^ Capabilities Approach 54 Carnegie School ^ Certainty Effect ^ Charitable Donatione ^ Childhood Effects on Adult Behavior 60 Coase Theorem, Property Rights, and Endowment Effect 61 Cognitive Dissonance 63 Commons, John R. 64 Communication and Colinsion 68 Complexity and Heuristics 70 Conjunction Effect " 1 Consumer Confidence 72 Contingent Valvation 74 Cooperative Organizations 76 Creativity 78 Credit Cycles 7V Culture and Behavioral Economics 81 Cyert, Richard 82 Deception 85 Decision Cost 86 Descartes's Error and the Emotional Bram 88 Development Economics 90 Dictator Game g Dictator Game (Brief Note) y 3 Dilution Effect Q4 Discrimination and Behavioral Economics y*5 Disposition Effect gj Diversihcation Bias yy Dual Motive Theory (DMT) and Dual Interest Theory (Dil ) 101 Duesenberry James S. j 0 3 Ecological Rationality ^5 Economic Psychology 1 ^ Economic Science Association Economic Sociology ^ j Q
4 Efficiency Wage Hypothesis 112 Efficient Market Hypothesis 113 Emotions and Decision Making 115 Emotions and Phineas Gage 117 Endowment Effect 118 Entrepreneurship 120 Envy 122 Equity Premium Puzzle 123 Errors and Biases 125 Ethical Consumption 126 Ethical Production 128 Evolutionary Economics 129 Evolutionary Mismatch 132 Expectations (Rational and Adaptive) 133 Expected Utility and Behavioral Economics 135 Experimental Design 137 Experimental Economics 139 Experimental Economics Software: z-tree (Zürich Toolbox for Readymade Economic Experiments) 141 Experiments (Classroom) 142 Experiments (Field) 143 Experiments (Incentives) 145 Fair Wage 149 Fairness 150 Fast and Frugal Decision Trees 152 Fast and Frugal Heuristics 154 Fat Tails 155 Faux Currency 158 Feminist and Behavioral Economics 159 Financial Literacy 160 Firm (Behavioral Theory) 162 Framing 164 Frank, Robert H. 166 Gambler's Fallacy 169 Gambling Behavior 170 Game Theory (Behavioral/Cooperative) 172
5 Gender Differences Genoeconomics Gigerenzer, Gerd Golden Rule, Cooperation, and Productivity 180 Greenwald-Stiglitz Theorem and Behavioral Economics 181 Habits Happiness Happiness and Productivity 189 Hayek, Friedrich 191 Health Economics 192 Heckman, James 195 Hedonic Treadmill 196 Herding 197 Heterogeneous Agents 199 Heuristics 200 Honesty 202 Household Decisions 203 Human Rights and Decision Making 205 Hyperbolic Discounting 207 IAREP (International Association for Research in Economic Psychology) 209 ICABEEP (International Confederation for the Advancement of Behavioral Economics and Economic Psychology) 211 Identity Economics 212 Ignorance of Base Rates 213 Impulsive Behavior 215 Inefficient Markets 217 Inequity Aversion 219 Institutional Economics 221 Intertemporal Preferences and Consumption 223 Intuition and Decision Making 225 Irrationality and Subrationality 226 Junk Food 229 Kakneman, Daniel 231 Katona, George 232 Keynes John Maynard 234 Kunreuther, Howard C
6 Labels and Signaling (Information Provision, Framing, and Economic Efficiency) Labor Market Regulation Labor Supply and Target Income Law and Behavioral Economics Law and Economics, and Social Norms Leibenstein, Harvey Limits of Arbitrage Liquidity Trap and Liquidity Preference Loss Aversion Lucas Critique and Behavioral Economics Macroeconomics (Behavioral) March, James G. Mental Accounting Metapreferences Minsky Moment Momentum Investing Money Illusion Moods and Financial Markets Moral Hazard and Behavioral Economics Moral Motivation Multiple Equilibria Myopie Loss Aversion Nash Equilibrium Nastiness Experiments Neuroeconomics Neuroplasticity Noise Trading Nonmonetary Incentives Norms North, Douglass Nudging Oakeshott, Michael Obesity Organ Donation and Framing Organizational Capital
7 Ostrom, Elinor Overconfidence Overconsumption Overemployment and Underemployment 309 O 1 O Paternalism Path Dependency 315 Peer Pressure 316 Pensions and Eraming 318 Plott, Charles 320 Population Growth 321 Preference Pollution 323 Preference Reversal 324 Preferences (Interdependent) 326 Preferences (Revealed) 327 Preferences (True) 329 Present-Biased Preferences 331 Pretense of Knowledge 333 Price Stickiness 335 Price-Quality Illusion 336 Priming and Financial Decisions 338 Principal-Agent Theory and Behavioral Economics 339 Prisoners Dilemma 341 Profit Maximization and Behavioral Economics 344 Prospect Theory 345 Public Good Game 347 Rationality (Process and Neoclassical) 351 Reasons 352 Reciprocity 353 Reference Effects 355 Regret 357 Relational Goods Relative Income Effects 360 Relative Positioning 362 Relative Thinking 364 Religion and Decision Making 365 Representativeness Bias g
8 Risk and Knightian Uncertainty 369 Roth, AlvinE. 371 Sample Size Null Hypothesis Significance Testing 373 Satisficing 374 Schelling, Thomas C. 376 Self-Control 378 Self-Fulfilling Prophecies 379 Self-Serving Bias 381 Selten, Reinhard 382 Sen, Amartya 383 Shiller, Robert 385 Simon, Herbert 387 Slovic, Paul 388 Smith, Adam, and Moral Sentiments 390 Smith, Adam, and Theory of Moral Sentiments 391 Smith, Vernon L. 393 Snob Effect 395 Social Capital and Behavioral Economics 397 Social Capital and Personal Capital (Gary Becker) 399 Social Cohesion 401 Social Preferences within a Population 402 Social Ties 404 Society for the Advancement of Behavioral Economics 406 Somatic Marker Hypothesis 407 Spontaneous Order 409 Sports Economics and Economic Psychology 410 Sports Economics and Performance Inefficiencies 412 Statistical Significance and Behavioral Economics 415 Status Quo Bias 417 Stiglitz, Joseph 419 Strategy Method (and Payment Cards) 421 Subjective Expected Utility 422 Suicide 424 Sunk Cost Fallacy 425 Survival Principle 426 Switching Costs 428
9 Tax Avoidance, Tax Evasion, and the Skadow Economy 431 Tax Compliance 432 Thaler, Richard 434 Tipping 435 Tit-for-Tat 437 Tragedy of the Commons 438 Transaction Costs and Behavioral Economics 440 Trust 442 Trust Game 444 Trust Heuristic 446 Tversky, Arnos 447 Ultimatum Game 451 Uncertainty Effect 452 Unemployment, Psychology, and X-Inefficiency 454 Utility (Experienced) 456 Utility (Remembered) 457 Validity, External (Generalizability) 461 Vehlen, Thorstein B. 463 Wage Stickiness, Loss Aversion, and the Phillips Curve 465 Warm Glow 467 Williamson, Oliver 469 Winners Curse 470 X-Efficiency/X-Inefficiency 473 Contributors 475 About the Editor 4^3 Index
The Foundations of Behavioral. Economic Analysis SANJIT DHAMI
The Foundations of Behavioral Economic Analysis SANJIT DHAMI OXFORD UNIVERSITY PRESS CONTENTS List offigures ListofTables %xi xxxi Introduction 1 1 The antecedents of behavioral economics 3 2 On methodology
More informationBehavioral Economics - Syllabus
Behavioral Economics - Syllabus 1 st Term - Academic Year 2016/2017 Professor Luigi Mittone luigi.mittone@unitn.it Teaching Assistant Viola Saredi violaluisa.saredi@unitn.it Course Overview The course
More informationMini-Course in Behavioral Economics Leeat Yariv. Behavioral Economics - Course Outline
Mini-Course in Behavioral Economics Leeat Yariv The goal of this mini-course is to give an overview of the state of the art of behavioral economics. I hope to trigger some research in the field and will
More informationWhat is Experimental Economics? ECO663 Experimental Economics. Paul Samuelson once said. von Neumann and Morgenstern. Sidney Siegel 10/15/2016
What is Experimental Economics? The use of experimental methods to answer economic questions in various areas of study. ECO663 Experimental Economics Instructor Shihomi Ara-Aksoy Individual Choice Behavior
More informationAn Introduction to Behavioral Economics
An Introduction to Behavioral Economics Nick Wilkinson > Richmond, The American International University in London :w t '
More information1 Introduction to smart decision-making Morris Altman
1 Introduction to smart decision-making Morris Altman This is an original contribution of essays on behavioural economics, which builds upon the research of Herbert Simon and, more generally, the Carnegie-Mellon
More informationBehavioral Economics Lecture 1 An Introduction to Behavioral Economics
Behavioral Economics Lecture 1 QIAO Zhilin( 乔志林 ) School of Economics & Finance Xi an Jiaotong University March, 2018 Richard Thaler Laureate of 2017 Nobel Prize in Economics University of Chicago Professor
More informationRuss Moody, MBA Social Marketing & Behaviour Change. Acknowledgement PHE Behavioural Insights Team
Behaviour Change Introduction to Behavioural Economics CIOS Physical Activity Summit 2017 - From everybody s business to business critical 17th November 2017, Cornwall College, St Austell Russ Moody, MBA
More informationBehavioural Insights Supporting the Prevention Agenda. Russ Moody Health & Wellbeing Programme Lead Public Health England South West
Behavioural Insights Supporting the Prevention Agenda Russ Moody Health & Wellbeing Programme Lead Public Health England South West What I will be covering today Introduce the concept of Behavioural Economics
More informationBreakfast Session, Department of Health. Laura Freeman, Principal Analyst Department of Health Behavioural Insights Team
Breakfast Session, Department of Health Laura Freeman, Principal Analyst Department of Health Behavioural Insights Team Access to patient records: applying behavioural insights 5 June 2015 Laura Freeman
More informationG646: BEHAVIORAL DECISION MAKING. Graduate School of Business Stanford University Fall 2007
G646: BEHAVIORAL DECISION MAKING Graduate School of Business Stanford University Fall 2007 Professor: Itamar Simonson Littlefield 378; 725-8981 itamars@stanford.edu Office Hours: By appointment Assistant:
More informationTopic 3: Social preferences and fairness
Topic 3: Social preferences and fairness Are we perfectly selfish and self-centered? If not, does it affect economic analysis? How to take it into account? Focus: Descriptive analysis Examples Will monitoring
More informationNudges: A new instrument for public policy?
Nudges: A new instrument for public policy? M.C. Villeval (CNRS, GATE) - Origin: Behavioral Economics BE blends experimental evidence and psychology in a mathematical theory of strategic behavior (Camerer,
More informationHere s a list of the Behavioral Economics Principles included in this card deck
Here s a list of the Behavioral Economics Principles included in this card deck Anchoring Action Goals Availability Bias Decision Paralysis Default Bias Disposition Effect Ego Depletion Endowment Effect
More informationBehavioral Economics 1st Term - Academic Year 2014/2015
Behavioral Economics 1st Term - Academic Year 2014/2015 Professor Luigi Mittone luigi.mittone@unitn.it Teaching Assistant Viola Saredi violaluisa.saredi@unitn.it Course Overview The course aims to provide
More informationINVESTOR S PSYCHOLOGY IN INVESTMENT DECISION MAKING: A BEHAVIORAL FINANCE APPROACH
Volume 119 No. 7 2018, 1253-1261 ISSN: 1311-8080 (printed version); ISSN: 1314-3395 (on-line version) url: http://www.ijpam.eu ijpam.eu INVESTOR S PSYCHOLOGY IN INVESTMENT DECISION MAKING: A BEHAVIORAL
More informationToday s lecture. A thought experiment. Topic 3: Social preferences and fairness. Overview readings: Fehr and Fischbacher (2002) Sobel (2005)
Topic 3: Social preferences and fairness Are we perfectly selfish? If not, does it affect economic analysis? How to take it into account? Overview readings: Fehr and Fischbacher (2002) Sobel (2005) Today
More informationBlending Psychology and Economics
Blending Psychology and Economics Animal Spirits How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism By George A. Akerlof and Robert J. Shiller Princeton University Press
More informationUsing Experimental Methods to Inform Public Policy Debates. Jim Murphy Presentation to ISER July 13, 2006
Using Experimental Methods to Inform Public Policy Debates Jim Murphy Presentation to ISER July 13, 2006 Experiments are just one more tool for the applied economist Econometric analysis of nonexperimental
More informationEstimated Distribution of Items for the Exams
Estimated Distribution of Items for the Exams The current plan is that there are 5 exams with 50 multiple choice items that will cover two chapters. Each chapter is planned to have 25 multiple choice items.
More information1 Language. 2 Title. 3 Lecturer. 4 Date and Location. 5 Course Description. Discipline: Methods Course. English
Discipline: Methods Course 1 Language English 2 Title Experimental Research and Behavioral Decision Making 3 Lecturer Prof. Dr. Christian D. Schade, Humboldt-Universität zu Berlin Homepage: https://www.wiwi.hu-berlin.de/de/professuren/bwl/ebdm
More informationA Note On the Design of Experiments Involving Public Goods
University of Colorado From the SelectedWorks of PHILIP E GRAVES 2009 A Note On the Design of Experiments Involving Public Goods PHILIP E GRAVES, University of Colorado at Boulder Available at: https://works.bepress.com/philip_graves/40/
More informationBEHAVIORAL ECONOMICS AND ITS APPLICATIONS. Edited by Peter Diamond and Hannu Vartiainen
BEHAVIORAL ECONOMICS AND ITS APPLICATIONS Edited by Peter Diamond and Hannu Vartiainen List of authors:... Foreword... 1 Introduction... 5 Peter Diamond and Hannu Vartiainen... 5 References:... 2 Behavioral
More informationSimple heuristics in a social world. Ralph Hertwig
Simple heuristics in a social world Ralph Hertwig Simon s question How do human beings reason when the conditions for rationality postulated by the model of neoclassical economics are not met? (Simon,
More informationEC 542: Experimental Methods in Economics Sujoy Chakravarty Room # 333. Contact Hours: 2:30 4:30 MW, id.:
EC 542: Experimental Methods in Economics Sujoy Chakravarty Room # 333. Contact Hours: 2:30 4:30 MW, email id.: sujoyc@gmail.com 1 Course Description Experimental methods in economics have achieved prominence
More informationBehavioural Economics University of Oxford Vincent P. Crawford Michaelmas Term 2012
Behavioural Economics University of Oxford Vincent P. Crawford Michaelmas Term 2012 Introduction to Behavioral Economics and Decision Theory (with very large debts to David Laibson and Matthew Rabin) Revised
More informationIntroduction. chapter one. By Peter Diamond and Hannu Vartiainen 1
chapter one Introduction By Peter Diamond and Hannu Vartiainen 1 Over the last decade or so, behavioral economics has fundamentally changed the way economists conceptualize the world. Behavioral economics
More informationThe Psychology of Rare Events: Challenges to Managing Tail Risks
Workshop on Climate Change and Extreme Events: The Psychology of Rare Events: Challenges to Managing Tail Risks Elke U. Weber Center for Research on Environmental Decisions (CRED) Columbia University Resources
More informationBehavioral Game Theory
Behavioral Game Theory Experiments in Strategic Interaction Colin F. Camerer Russell Sage Foundation, New York, New York Princeton University Press, Princeton, New Jersey Preface Introduction 1.1 What
More informationEnvironmental Policy Theory Given Bounded Rationality and Other-regarding Preferences
Environ Resource Econ DOI 10.1007/s10640-010-9433-y Environmental Policy Theory Given Bounded Rationality and Other-regarding Preferences Elisabeth Gsottbauer Jeroen C. J. M. van den Bergh Accepted: 11
More informationUNIVERSITY OF DUBLIN TRINITY COLLEGE. Faculty of Arts Humanities and Social Sciences. School of Business
UNIVERSITY OF DUBLIN TRINITY COLLEGE Faculty of Arts Humanities and Social Sciences School of Business M.Sc. (Finance) Degree Examination Michaelmas 2011 Behavioural Finance Monday 12 th of December Luce
More informationPS3003: Judgment and Decision Making
PS3003: Judgment and Decision Making View Online 1. 2. Ayton P. Judgement and decision making. In: Cognitive psychology. 2nd ed. Oxford: Oxford University Press; 2012. 3. Baron J. Normative Models of Judgment
More informationBehavioral Economics for Better Policy-Making
ECES Seminar: Mar. 20, 2018, Cairo Behavioral Economics for Better Policy-Making Dr. Mohamed El-Komi The American University in Cairo, School of Business Egypt s representative, Society for the Advancement
More informationEXPERIMENTAL ECONOMICS INTRODUCTION. Ernesto Reuben
EXPERIMENTAL ECONOMICS INTRODUCTION Ernesto Reuben WHAT IS EXPERIMENTAL ECONOMICS? 2 WHAT IS AN ECONOMICS EXPERIMENT? A method of collecting data in controlled environments with the purpose of furthering
More informationIntroducing Social Psychology
Introducing Social Psychology Colin Fraser and Brendan Burchell Dale Hay and Gerard Duveen Polity Contents List of Contributors xix Preface xxi Acknowledgements xxiii I A Brief I SodaHmJivMual 2 Personality
More informationUsing Behavioral Economics in Public Economics
Tulane Economics Working Paper Series Using Behavioral Economics in Public Economics James Alm Department of Economics Tulane University jalm@tulane.edu Steven M. Sheffrin Department of Economics Tulane
More informationBehavioral Game Theory
School of Computer Science, McGill University March 4, 2011 1 2 3 4 5 Outline Nash equilibria One-shot games 1 2 3 4 5 I Nash equilibria One-shot games Definition: A study of actual individual s behaviors
More informationThe study of behavioral economics includes how market decisions are made and the mechanisms that drive public choice.
Behavioral economics: (Wikipedia, 2014 01 22) Behavioral economics and the related field, behavioral finance, study the effects of social, cognitive, and emotional factors on the economic decisions of
More informationNeuroscience For Coaches Module 3 Biases. Synaptic Potential Ltd 2015 Behavioural Biases
1 Enjoy learning about many of the different biases and seeking out examples in the real world in systems, processes and people. Look for ways bias is cushioned against, opportunities to do that better
More informationEcon 219B Psychology and Economics: Applications (Lecture 1)
Econ 219B Psychology and Economics: Applications (Lecture 1) Stefano DellaVigna January 21, 2009 Outline 1. Introduction / Prerequisites 2. Getting started! Psychology and Economics: The Topics 3. Psychology
More informationSocial Norms and Reciprocity*
Social Norms and Reciprocity* Andreas Diekmann Institut für Soziologie Universität Bern Thomas Voss Institut für Soziologie Universität Leipzig [ March 2003 ] Paper presented on the session Solidarity
More informationBreaking the Rules. Stephen Carver FAPM FIRM
Breaking the Rules Stephen Carver FAPM FIRM Know the rules well that way you can break them more effectively On Compliance Some of the worst cultures have the biggest compliance departments and the most
More informationCOGNITIVE BIAS IN PROFESSIONAL JUDGMENT
COGNITIVE BIAS IN PROFESSIONAL JUDGMENT Dr. Janet L Sutton, PhD Behavioral Economist, Senior Research Psychologist U.S. Department of Defense (retired): -Air Force Research Laboratory (AFRL, Wright-Patterson
More informationBy understanding behavioral biases, investment professionals may be able to improve economic outcomes.
READING 8: THE BEHAVIORAL BIASES OF INDIVIDUALS Introduction Individuals strive to make good decisions by simplifying the choices available, using a subset of the information available, and discarding
More informationEmanuela Carbonara. 31 January University of Bologna - Department of Economics
Game Theory, Behavior and The Law - I A brief introduction to game theory. Rules of the game and equilibrium concepts. Behavioral Games: Ultimatum and Dictator Games. Entitlement and Framing effects. Emanuela
More informationReciprocity, Cooperation, and Reputation
Reciprocity, Cooperation, and Reputation Reciprocal altruism Prisoner s dilemma: repeated play allows cooperation Generosity, punishment, spite (Ultimatum games) Reputation Collective action and punishment
More informationAdvances in Environmental Biology
AENSI Journals Advances in Environmental Biology ISSN-1995-0756 EISSN-1998-1066 Journal home page: http://www.aensiweb.com/aeb/ Weighting the Behavioral Biases of Investors in Shiraz Stock Exchange by
More informationIrrationality in Game Theory
Irrationality in Game Theory Yamin Htun Dec 9, 2005 Abstract The concepts in game theory have been evolving in such a way that existing theories are recasted to apply to problems that previously appeared
More informationIntroduction to Behavioral Economics Like the subject matter of behavioral economics, this course is divided into two parts:
Economics 142: Behavioral Economics Spring 2008 Vincent Crawford (with very large debts to Colin Camerer of Caltech, David Laibson of Harvard, and especially Botond Koszegi and Matthew Rabin of UC Berkeley)
More informationWILL HOMO ECONOMICUS SURVIVE?
WILL HOMO ECONOMICUS SURVIVE? PHILIPP DOERRENBERG Erasmus Student In this essay, Philipp Doerrenberg highlights recent experimental work that has proven the shaky foundations of the concept of the rational,
More informationIntroduction to Social Psychology p. 1 Introduction p. 2 What Is Social Psychology? p. 3 A Formal Definition p. 3 Core Concerns of Social Psychology
Preface p. xv Introduction to Social Psychology p. 1 Introduction p. 2 What Is Social Psychology? p. 3 A Formal Definition p. 3 Core Concerns of Social Psychology p. 3 Sociology, Psychology, or Both? p.
More informationBehavioural Finance. Martin Sewell. Department of Computer Science University College London. May 2007
Behavioural Finance Martin Sewell Department of Computer Science University College London May 2007 Abstract An introduction to behavioural finance. 1 Introduction Behavioural finance is the study of the
More informationThe use of behavioral economics in promoting public policy
Theoretical and Applied Economics FFet al Volume XXII (2015), No. 2(603), Summer, pp. 255-264 The use of behavioral economics in promoting public policy Alina Maria NEAȚU Bucharest University of Economic
More informationTrust and Testosterone: A Contribution to Neurosociology
Trust and Testosterone: A Contribution to Neurosociology Werner Raub, Vincent Buskens & Jack van Honk Rational Choice Sociology: Theory and Empirical Applications Workshop at Venice International University,
More informationSequential Decision and Strategy Vector Methods in Ultimatum Bargaining: Evidence on the Strength of Other- Regarding Behavior
Department of Economics Discussion Paper 2004-04 Sequential Decision and Strategy Vector Methods in Ultimatum Bargaining: Evidence on the Strength of Other- Regarding Behavior Robert J. Oxoby University
More informationCHAPTER - 3 REVIEW OF LITERATURE
CHAPTER - 3 REVIEW OF LITERATURE 3.1 Introduction: After understanding the dimensions of Indian mutual fund industry, literature review has been done to understand the types of research carried out and
More informationDEMOGRAPHICS AND INVESTOR BIASES AT THE NAIROBI SECURITIES EXCHANGE, KENYA
International Journal of Arts and Commerce Vol. 6 No. 5 July 2017 DEMOGRAPHICS AND INVESTOR BIASES AT THE NAIROBI SECURITIES EXCHANGE, KENYA Zipporah Nyaboke Onsomu 1, Prof. Erasmus Kaijage 2, Prof. Josiah
More informationReciprocity, Cooperation, and Reputation
Reciprocity, Cooperation, and Reputation Reciprocal altruism Prisoner s dilemma: repeated play allows cooperation Generosity, punishment, spite (Ultimatum games) Reputation Before next lecture, see intentionality
More informationEcon 219B Psychology and Economics: Applications (Lecture 4)
Econ 219B Psychology and Economics: Applications (Lecture 4) Stefano DellaVigna February 13, 2008 Outline 1. Leisure Goods: Commitments and Savings 2. Five More Applications of Present Bias 3. Present
More informationPerspectives of economics behavioural economics
Theoretical and Applied Economics Volume XX (2013), No. 7(584), pp. 27-32 Perspectives of economics behavioural economics Paula-Elena DIACON Alexandru Ioan Cuza University of Iași diaconpaula@gmail.com
More informationThe Portuguese Non-Observed Economy: Brief Presentation
The Portuguese Non-Observed Economy: Brief Presentation Note: this document presents a summary of the research developed by Nuno Gonçalves, under the orientation of Oscar Afonso, both members of the Observatório
More informationI. Introduction. Armin Falk IZA and University of Bonn April Falk: Behavioral Labor Economics: Psychology of Incentives 1/18
I. Introduction Armin Falk IZA and University of Bonn April 2004 1/18 This course Study behavioral effects for labor related outcomes Empirical studies Overview Introduction Psychology of incentives Reciprocity
More informationLecture 3. QIAO Zhilin ( 乔志林 ) School of Economics & Finance Xi an Jiaotong University
Lecture 3 QIAO Zhilin ( 乔志林 ).co School of Economics & Finance Xi an Jiaotong University October, 2015 Introduction Ultimatum Game Traditional Economics Fairness is simply a rhetorical term Self-interest
More informationTHE (NEURO-)BIOLOGY OF ALTRUISTIC PUNISHMENT
THE (NEURO-)BIOLOGY OF ALTRUISTIC PUNISHMENT A Philosophical Investigation of a Concept of Human Social Behavior Rebekka A. Klein University of Zurich University Research Priority Project: Foundations
More informationStrategic Decision Making. Steven R. Van Hook, PhD
Strategic Decision Making Steven R. Van Hook, PhD Reference Textbooks Judgment in Managerial Decision Making, 8th Edition, by Max Bazerman and Don Moore. New York: John Wiley & Sons, 2012. ISBN: 1118065700
More informationRisk Tolerance and Behavioral Finance
Risk Tolerance and Behavioral Finance September 11, 2017 by Michael Pompian of IMCA We have seen a powerful recovery in asset prices in the wake of the global financial crisis (GFC). We cannot forget,
More informationYOUR NEW MONEY STORY ROADMAP FOR MONEY MASTERY
YOUR NEW MONEY STORY ROADMAP FOR MONEY MASTERY A Self-Guided Online-Retreat with David Krueger MD Seminar Series Outline I. Your Money Story David Krueger MD Seminar I. YOUR MONEY STORY [Workbook: Introduction
More informationPublicly available solutions for AN INTRODUCTION TO GAME THEORY
Publicly available solutions for AN INTRODUCTION TO GAME THEORY Publicly available solutions for AN INTRODUCTION TO GAME THEORY MARTIN J. OSBORNE University of Toronto Copyright 2012 by Martin J. Osborne
More informationThe many fathers of affective science
NCCR Finrisk Doctoral Workshop, June 12, 2006, Gerzensee Emotions meet Finance Klaus Scherer Astrid Hopfensitz The many fathers of affective science The affective revolution: Nobel prizes in Economics
More informationANALYSIS OF PROSPECT THEORY ON EQUITY INVESTMENT DECISION MAKING A BEHAVIOURAL PERSPECTIVE
ISSN: 0976-2876 (Print) ISSN: 2250-0138 (Online) ANALYSIS OF PROSPECT THEORY ON EQUITY INVESTMENT DECISION MAKING A BEHAVIOURAL PERSPECTIVE D. VELUMONI 1 Assistant Professor, Sathyabama University, Chennai,
More informationA Behavioural Insights Approach to Population Level Behaviour Change
A Behavioural Insights Approach to Population Level Behaviour Change 2 nd December 2016 Amanda Bunten Behavioural Insights Research Analyst PHE BIT Amanda.Bunten@phe.gov.uk Jose Arellano PHE BIT Intern
More informationInstitutions and Cooperative Behavior
Institutions and Cooperative Behavior by Arild Vatn Department of International Environmental and Development Studies Norwegian University of Life Sciences Complexity Economics for Sustainability Seminar
More informationProf. Dr. Daniel Krähmer: Behavioral Economics SS16 1. Lecture Notes
Prof. Dr. Daniel Krähmer: Behavioral Economics SS16 1 Lecture Notes Prof. Dr. Daniel Krähmer: Behavioral Economics SS16 2 What s Behavioral Economics? Behavioral Economics emerged out of a number of empirical
More informationBehavioral Economics. Keywords. Introduction. Abstract
B Behavioral Economics Jennifer E. Miller 1, Elinor Amit 2,3 and Ann-Christin Posten 3 1 Division of Medical Ethics, Department of Population Health, NYU Langone Medical Center, New York, NY, USA 2 Harvard
More informationImpact of Cognitive Biases in Investment Decisions of Individual Investors in Stock Market
Impact of Cognitive Biases in Investment Decisions of Individual Investors in Stock Market Dr. Joychen Manuel*, George Mathew.** *Associate Professor, Department of Business Administration, St.Berchmans.
More informationAre We Rational? Lecture 23
Are We Rational? Lecture 23 1 To Err is Human Alexander Pope, An Essay on Criticism (1711) Categorization Proper Sets vs. Prototypes and Exemplars Judgment and Decision-Making Algorithms vs. Heuristics
More informationCURRICULUM VITAE (September 2018) Juan D. CARRILLO
CURRICULUM VITAE (September 2018) Juan D. CARRILLO Department of Economics - KAP 330B, University of Southern California, 3620 S. Vermont Ave., Los Angeles, CA 90089-0253 Ph: (310) 699.0956, email: ,
More informationFebruary 14-16, 2017 Amsterdam EU.QUAL360.COM
February 14-16, 2017 Amsterdam EU.QUAL360.COM GOLD SPONSORS SILVER SPONSOR VIDEO SPONSOR EXHIBITOR 50 shades of irrational Applying behavioural economics across cultural contexts Elina Halonen Co-founder,
More informationAssessment and Estimation of Risk Preferences (Outline and Pre-summary)
Assessment and Estimation of Risk Preferences (Outline and Pre-summary) Charles A. Holt and Susan K. Laury 1 In press (2013) for the Handbook of the Economics of Risk and Uncertainty, Chapter 4, M. Machina
More informationGender and Culture: International Experimental Evidence from Trust Games
Gender and Culture: International Experimental Evidence from Trust Games By RACHEL CROSON AND NANCY BUCHAN* Gender is rarely included as a factor in economics models. However, recent work in experimental
More informationeconomics survey. Results of a mini behavioral
Behavioral economics: (Wikipedia, 2014 01 22) Behavioral economics and the related field, behavioral finance, study the effects of social, cognitive, and emotional factors on the economic decisions of
More informationExpEc I. Preliminaries
ExpEc I. Preliminaries Giovanni Ponti Università di Ferrara Facoltà di Giurisprudenza LUISS Guido Carli LAboratory for Theoretical and EXperimental Economics Universidad de Alicante Roma, 7/6/2010 h t
More informationPreliminary Syllabus Behavioral Economics Pontificia Universidad Javeriana June 13-24, 2016
Week 1: Fundamentals Instructor: Karna Basu Email: kbasu@hunter.cuny.edu Week 2: Empirical Applications Instructor: Stephen O Connell Email: soconnell@gradcenter.cuny.edu Preliminary Syllabus Behavioral
More informationMind over matter. Elio D Amato. An investors guide to remaining sane in an insane world. Chief Executive Officer Lincoln Indicators Pty Ltd
Mind over matter An investors guide to remaining sane in an insane world Elio D Amato Chief Executive Officer Lincoln Indicators Pty Ltd Important Information This presentation is provided for educational
More information5 th Annual Schumann-SCP Doctoral Consortium Program Thursday, 28 February 2013 FACULTY.
5 th Annual Schumann-SCP Doctoral Consortium Program Thursday, 28 February 2013 Pankaj Aggarwal Associate University of Toronto FACULTY Consumer-brand relationships Anthropomorphism Construal Behavioral
More informationHealthcare IT. Cognitive Bias, Usability and the User Journey WTC Medical Monitoring and Treatment Program
Healthcare IT Cognitive Bias, Usability and the User Journey WTC Medical Monitoring and Treatment Program What are Cognitive Traps? We come into this world with a hidden repertoire of biases that seduce
More informationIndex. Authoritarian educational goals, 199, 203 relationship of fair-share behavior with, Authority ranking, see
Index Page numbers with t and f represent table and figures, respectively. A Absenteeism, 148 Acclimatization effect on behavior, 209, 217 Acculturation, 181 Adolescence-limited and life-course persistent
More informationBachelor thesis. Cognitive limitations of Individuals during the financial crisis
Bachelor thesis Cognitive limitations of Individuals during the financial crisis Tutor: Prof. Dr Matthias Dressler Student: Sigala Thomas (919579) Kiel University of applied sciences Business and administration
More informationBEHAVIORAL. About the todays class. About Behavioral Finance. Bias
International Week OBUDA UNIVERSITY About the todays class During the course BEHAVIORAL FINANCE Elona SHEHU, PhD Candidate elona.shehu@uet.edu.al By the end of the course OR People in standard finance
More informationInternational Journal of Economics And Business Management
www.iaard.net IAARD Journals eissn:2455-4464 International Journal of Economics And Business Management IAARD-International Journal of Economics and Business Management, 2017, 3(1),17-22 Behavioral Finance:
More informationGiving To Ingrates?*
Giving To Ingrates?* Michael Jones, Bridgewater State College and Michael McKee, Appalachian State University and University of Calgary February 2008 Michael Jones, Department of Economics, Bridgewater
More informationPartners versus Strangers: Random Rematching in Public Goods Experiments
Partners versus Strangers: Random Rematching in Public Goods Experiments by James Andreoni Department of Economics University of Wisconsin-Madison Madison, Wisconsin 53711 and Rachel Croson Wharton School
More informationPalgrave Advances in Behavioral Economics. Series Editor John F. Tomer Co-Editor, Jl of Socio-Economics Manhattan College Riverdale, USA
Palgrave Advances in Behavioral Economics Series Editor John F. Tomer Co-Editor, Jl of Socio-Economics Manhattan College Riverdale, USA This ground breaking series is designed to make available in book
More informationJUDGEMENT AND DECISION MAKING
SAGE LIBRARY OF COGNITIVE AND EXPERIMENTAL PSYCHOLOGY JUDGEMENT AND DECISION MAKING VOLUME I Foundations Edited by Nick Chater tsage Los Angeles London New Delhi Singapore Washington DC Contents Appendix
More informationTrust and Reciprocity, Interdisciplinary Lessons from Experimental Research
Page 1 Trust and Reciprocity, Interdisciplinary Lessons from Experimental Research By Elinor Ostrom and James Walker SUMMARY Elinor Ostrom and James Walker wrote Trust and Reciprocity on the results of
More informationRevision or Revolution? A Note on Behavioral vs. Neoclassical Economics
SCHUMPETER DISCUSSION PAPERS Revision or Revolution? A Note on Behavioral vs. Neoclassical Economics Ronald Schettkat SDP 2018-005 ISSN 1867-5352 by the author 1 Revision or Revolution? A Note on Behavioral
More informationTHE INTERACTION OF SUBJECTIVITY AND OBJECTIVITY IN THE PROCESS OF RISKY INVESTMENT DECISION MAKING
Lucian Blaga University of Sibiu Faculty of Economic Sciences SUMMARY OF DOCTORAL DISSERTATION THE INTERACTION OF SUBJECTIVITY AND OBJECTIVITY IN THE PROCESS OF RISKY INVESTMENT DECISION MAKING Scientific
More informationBehavioral and Experimental Economics
Master course University of Vienna Fall 2017 UK 040832 Behavioral and Experimental Economics Behavioral economics attempts to make economics a more relevant and powerful science of human behavior by integrating
More informationBehavioral and Experimental Economics
University of Vienna & Copenhagen Master course at the University of Copenhagen Summer 2017 Behavioral and Experimental Economics Behavioral economics attempts to make economics a more relevant and powerful
More informationParadoxes and Violations of Normative Decision Theory. Jay Simon Defense Resources Management Institute, Naval Postgraduate School
Paradoxes and Violations of Normative Decision Theory Jay Simon Defense Resources Management Institute, Naval Postgraduate School Yitong Wang University of California, Irvine L. Robin Keller University
More information