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Macmillan Higher Education Palgrave Higher Education

An Introduction to Behavioral Economics

Edition 2nd Edition
ISBN 9780230291461
Publication Date April 2012
Formats Paperback Ebook 
Publisher Palgrave

The second edition ofthis comprehensive introduction to studying behavioral economics includes recent research and offers an overview of methodology and expanded material on rationality, behavioral game theory and the nature of the role of evidence in testing. More worked examples, real-life cases and end-of-chapter questions are included.

NICK WILKINSON is Professor at Richmond the American International University in London and has taught economics and finance in various international institutions in the UK and USA. He has also worked in business management in both countries and served as a consultant to many companies, mainly in the leisure industry. He has authored two books, 'Managerial Economics: A Problem-Solving Approach', published by Cambridge University Press (2005), and 'An Introduction to Behavioral Economics', published by Palgrave Macmillan (2007), now in its second edition. His research interests lie in that field, particularly in the implications of evolutionary biology and neuroscience for behavioral economics.

MATTHIAS KLAES is Professor and Dean of the School of Business at the University of Dundee, UK, as well as Convenor of the Scottish Centre for Economic Methodology (SCEME). Having studied at universities in Germany, Holland, France, Scotland, and England, he has got a background in engineering, economics and management studies, as well as science studies. He has served as Managing Editor of the Journal for Economic Methodology, and has acted as adviser to both private and public sector bodies. Before joining Dundee he was Professor of Commerce at Keele University, and Reader in Economics at the University of Stirling. He publishes widely in new institutional and behavioral economics, and economic and management methodology.

PARTI: INTRODUCTION.- Nature of Behavioral Economics.- Methodology.- PARTII: FOUNDATIONS.- Values, Preferences and Choices.- Beliefs, Heuristics and Biases.- Decision-making under Risk and Uncertainty.- Mental Accounting.- PARTIII: INTERTEMPORAL CHOICE.- The Discounted Utility Model.- Alternative Intertemporal Choice Models.- PARTIV: STRATEGIC INTERACTION.- Behavioral Game Theory.- Social Preferences.- PARTV: CONCLUSION.- Behavioral Economics: Summary and Outlook.


"The second volume expands, and brings up to date,this engaging and erudite introduction to the field of behavioral economics. By providingtheir own unique and interesting perspective on the material they review,the authors succeed at the difficult task of holding the reader's interest while providing remarkably comprehensive coverage. This book will help readers to share in the excitement of those currently working in the field." George Loewenstein, Carnegie Mellon University, USA"This book provides an excellent overview of the most important advancements in the field of behavioural and experimental economics. It is a brilliant textbook for social researchers, as well as for students interested in this exciting area." Michalis Drouvelis, University of Birmingham, UK ''Behavioral Economics is a wonderful introduction to the emerging field of behavioral economics to advanced undergraduates and masters students alike. It has a comprehensive treatment of individual decision-making, while also covering the more recent developments in behavioral game theory.'' Miguel A. Fonseca, University of Exeter, UK ''Behavioural economics has gone mainstream. With its new status comes the demand for it in the undergraduate curriculum. Introduction to Behavioral Economics is comprehensive, while presented with the minimum technical fuss and replete with examples that are easy to relate to. All in all, it should prove to be a very useful and accessible introductory text at the undergraduate level.'' Sujoy Mukerji, Oxford University, UK 'This book is highly valuable for the field of behavioral economics as it gives a comprehensive overview of both individual decision making and decision making in strategic settings with at least two individuals. It serves very well not only for teaching to graduate and undergraduate students, but also as a reference for specialists.' Kirsten I.M. Rohde, Erasmus School of Economics, Erasmus University Rotterdam, the Netherlands ''This edition has the full potential to continue to serve as a leading textbook in the field of behavioral economics. Its intuitive structure, comprehensive coverage of the topics, and discussion-stimulating case studies will be highly appreciated by the reader. It is rare that a second edition offers such a dramatic improvement, both pedagogically and content-wise. In addition to being a premier text for the upper level undergraduate and graduate students, it is an outstanding reference book for any researcher in the field.'' Natalia V. Czap, University of Michigan, USA
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