This textbook looks at decisions – how we make them, and what makes them good or bad. In this bestselling introduction, Erik Angner clearly lays out the theory of behavioral economics and explains the intuitions...Show More
This textbook looks at decisions – how we make them, and what makes them good or bad. In this bestselling introduction, Erik Angner clearly lays out the theory of behavioral economics and explains the intuitions behind it. The book offers a rich tapestry of examples, exercises, and problems drawn from fields such as economics, management, marketing, political science, and public policy. It shows how to apply the principles of behavioral economics to improve your life and work – and to make the world a better place to boot. No advanced mathematics is required.
This is an ideal textbook for students coming to behavioral economics from various fields. It can be used on its own in introductory courses, or in combination with other texts at advanced undergraduate and postgraduate levels. It is equally suitable for general readers who have been captivated by popular-science books on behavioral economics and want to know more about this intriguing subject.
- An updated chapter on behavioral policy and the nudge agenda.
- Several new sections, for example on the economics of happiness.
- Updated examples and exercises, with an expanded answer key
- Refreshed ancillary resources make for a plug and play experience for instructors teaching behavioral economics for the first time.
PART I CHOICE UNDER CERTAINTY
2 Rational Choice Under Certainty
3 Decision-making Under Certainty
PART II JUDGMENT UNDER RISK AND UNCERTAINTY
4 Probability Judgment
5 Judgment Under Risk and Uncertainty
PART III CHOICE UNDER RISK AND UNCERTAINTY
6 Rational Choice Under Risk and Uncertainty
7 Decision-Making under Risk and Uncertainty
PART IV INTERTEMPORAL CHOICE
8 The Discounted Utility Model
9 Intertemporal Choice
PART V STRATEGIC INTERACTION
10 Analytical Game Theory
11 Behavioral Game Theory
PART VI CONCLUDING REMARKS
12 Behavioral Policy
13 General Discussion.
“This is an exceptionally clear guide to the alternative ways economists can approach decision-making and choice. It presents a thorough introduction to both standard and behavioural theories of decision-making, equipping readers to understand the issues raised by ‘nudge' policies as opposed to their more conventional alternatives.” (Diane Coyle, University of Cambridge, UK)“Erik Angner has written a wonderful introductory overview of behavioral economics. This book has a unique balance between accessibility and precision, which enhances a good understanding of the key concepts in behavioral economics. It has a concise style with many examples and exercises, and thereby is a great book for teachers and students.” (Kirsten Rohde, Erasmus University Rotterdam, The Netherlands) “This text combines a succinct yet rigorous outline of standard choice theory with a lively and engaging discussion of many key findings and concepts of behavioral economics. I especially welcome its discussion of how these insights may be used (and abused) in government and business alike.” (Stephen L. Cheung, University of Sydney, Australia)
ABOUT THE AUTHOR
- Economic Methodology Marcel Boumans, John Davis
- An Introduction to Behavioral Economics Nick Wilkinson, Matthias Klaes
- Operations Management David Barnes
- Essential Operations Management Alex Hill, Terry Hill
- The Economics of Social Problems Sheila Smith, Julian Le Grand, Carol Propper
- Macroeconomics William Mitchell, L. Randall Wray, Martin Watts
- Global Strategic Management Philippe Lasserre
- Health Economics Jay Bhattacharya, Timothy Hyde, Peter Tu
- Foundation Mathematics K.A. Stroud, Dexter Booth
- Practising Social Work Law Suzy Braye, Michael Preston-Shoot
- Applied Econometrics Dimitrios Asteriou, S. G. Hall
- Social Policy in Britain P. Alcock, Margaret May