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Handbook of Behavioural Economics and Smart Decision-Making

Rational Decision-Making within the Bounds of Reason

Buch | Softcover

608 Seiten

2019
Edward Elgar Publishing Ltd (Verlag)
978-1-78254-958-1 (ISBN)

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This Handbook is a unique and original contribution of over thirty chapters on behavioural economics. It examines and addresses an important stream of research where the starting assumption is that decision-makers are, for the most part, relatively smart or rational. This particular approach is in contrast to a theme running though much contemporary work in which individuals' behaviour is deemed irrational, biased and error-prone, often due to how the brain is hardwired. In the smart people or bounded rationality approach, where errors or biases occur and when social dilemmas arise, more often than not, improving the decision-making environment can repair these problems without hijacking or manipulating the preferences of individuals. The Handbook covers a wide-range of themes from micro to macro, including economic psychology, heuristics, fast and slow thinking, neuroeconomics, experiments, the capabilities approach, institutional economics, methodology, nudging, ethics and public policy. It argues that neoclassical decision-making benchmarks are typically not the gold standard for best practice. The expert contributions demonstrate that decision-making capabilities and decision-making environments can both be more effective and consistent than nudging in improving welfare and utility, and in maximizing well-being. They also demonstrate how learning, improved information, empowerment, voice and preference play a vital role in determining smart decision-making outcomes.

This comprehensive and original Handbook will appeal to academics in behavioural and experimental economics, and economic psychology.

Contributors include: M. Altman, C.L. Anderson, G. Antonides, M. Augier, S. Austen, N. Berg, P. Biscaye, P.J. Boettke, S. Bourgeois-Gironde, R.A. Candela, A. Cronholm, G. Danese, G. Foster, R. Frantz, P. Frijters, K. Gangl, H. Gintis, M.J.J. Handgraaf, B. Harrison, B. Hartl, A. Hopfensitz, S. James, B. Kamleitner, E.L. Khalil, R. Kheirandish, D. Kilger, E. Kirchler, F. Kutzner, D. Lester, A. Leung, E. McPhail, B. Meder, T. Mengay, L. Mittone, S. Mousavi, H. Neth, A. Ortmann, M. Pingle, O. Powell, O. Rosin, T.F. Rötheli, N. Sari, N. Shestakova, L. Spiliopoulos, V. Tarko, S. Teraji, J.F. Tomer, J. van Beek, T. Vogel, B. Yang Lester

Edited by Morris Altman, Dean, University of Dundee School of Business (UDSB), Chair Professor of Behavioural and Institutional Economics, and Co-operatives, Dundee, Scotland, UK

Contents:

Foreword by Vernon Smith

1. Introduction to Smart Decision-Making
Morris Altman

PART I Smart Decision-Makers, Different Types of Rationality, and Outcomes
2. Rational Inefficiency: Smart Thinking, Bounded Rationality, and the Scientific Basis for Economic Failure and Success
Morris Altman

3. Rational Mistakes That Make Us Smart
Nathan Berg

4. Rational Choice As If the Choosers Were Human
Peter J. Boettke and Rosolino A. Candela

5. Smart Predictions From Wrong Data: The Case of Ecological Correlations
Florian Kutzner and Tobias Vogel

6. Heuristics: fast, frugal, and smart
Shabnam Mousavi, Björn Meder, Hansjörg Neth and Reza Kheirandish

7. The Beauty of Simplicity? (Simple) Heuristics and the Opportunities Yet to be Realized
Andreas Ortmann and Leonidas Spiliopoulos

8. Smart Persons and Human Development: The Missing Ingredient in Behavioral Economics
John F. Tomer

PART II Aspects of Smart Decision-MakinG
9. Behavioral Strategy at the Frontline: Insights and Inspirations from the US Marine Corps
Mie Augier

10. Feminist economics for smart behavioural economics
Siobhan Austen

11. How regret Moves Individual and Collective Choices Towards Rationality
Sacha Bourgeois-Gironde

12. Is it rational to be in love?
Paul Frijters and Gigi Foster

13. Behavioural Economic Anthropology
Giuseppe Danese and Luigi Mittone

PART III Development and Governance
14. Do Changes in Farmers’ Seed Traits Align with Climate Change? A Case Study of Maize in Chiapas, México
C. Leigh Anderson, Andrew Cronholm and Pierre Biscaye

15. Rationality, Globalization, and X-Efficiency Among Financial Institutions
Roger Frantz

16. The Evolution of Governance Structures in a Polycentric System
Edward McPhail and Vlad Tarko

PART IV Tax Behaviour
17. Taxation and Nudging
Simon James

18. Income Tax Compliance
Erich Kirchler, Barbara Hartl and Katharina Gangl

PART V Smart Macroeconomics and Finance
19. Financial decisions in the household
Bernadette Kamleitner, Till Mengay and Erich Kirchler

20. Employing Priming to Shed Light on Financial Decision-making Processes
Doron Kilger

21. Experimental Asset Markets: Behaviour and Bubbles
Owen Powell and Natalia Shestakova

22. To Consume or to Save: Are We Maximising or What?
Tobias F. Rötheli

PART VI Dimensions of Health
23. Time orientation effects on health behaviour
Jannette van Beek, Michel J.J. Handgraaf and Gerrit Antonides

24. Behavioral aspects of obesity
Odelia Rosin

25. Time inconsistent preferences in intertemporal choices for physical activity & weight loss: Evidence from Canadian health surveys
Nazmi Sari

26. Suicide Amongst Smart People
Bijou Yang and David Lester

PART VII Sociological Dimensions of Smart Decision-Making
27. Seeing and knowing others: the impact of social ties on economic interactions
Astrid Hopfensitz

28. Weakness of Will and Stiffness of Will: How far are Shirking, Slackening, Favoritism, Spoiling of Children, and Pornography from Obsessive-Compulsive Behavior?
Elias L. Khalil

29. The Role of Identity, Personal and Social Capital in Community Crime Prevention
Ambrose Leung and Brandon Harrison

30. Norms, Culture, and Cognition
Shinji Teraji

PART VIII Morals and Ethics
31. Rational Choice in Public and Private Spheres
Herbert Gintis

32. Ethics and Simple Games
Mark Pingle

Index

Erscheinungsdatum	02.03.2019
Verlagsort	Cheltenham
Sprache	englisch
Maße	169 x 244 mm
Themenwelt	Wirtschaft ► Volkswirtschaftslehre ► Mikroökonomie
ISBN-10	1-78254-958-7 / 1782549587
ISBN-13	978-1-78254-958-1 / 9781782549581
Zustand	Neuware