This book explains how investor behavior, from mental accounting to the combustible interplay of hope and fear, affects financial economics. The transformation of portfolio theory begins with the identification of anomalies. Gaps in perception and behavioral departures from rationality spur...

This book sets the agenda to turn behavioral economics, which has long been considered a subordinate discipline, into mainstream economics. Ghisellini and Chang expose the conceptual and empirical inadequacy of conventional economics using illustrations of real world decision-making in a dynamic...

This book is intended as a textbook for a course in behavioral economics for advanced undergraduate and graduate students who have already learned basic economics. The book will also be useful for introducing behavioral economics to researchers. Unlike some general audience books that discuss...

Part I Intergenerational Interactions -- 1 An equilibrium model of child maltreatment (Akabayashi).-2 Tough Love and Intergenerational Altruism (Bhatt, Ogaki) -- Part II Behavioral Macroeconomics.-3 Consumer interdependence via reference groups (Hayakawa, Venieris, Yiannis) -- 4 Bounded...

Part I Attitude toward Risk and Time -- 1 Risk and Time Preferences: Linking Experimental and Household Survey Data from Vietnam (Tanaka, Camerer, Nguyen) -- 2 Simultaneous Measurement of Time and Risk Preferences: Stated Preference Discrete Choice Modeling Analysis Depending on Smoking Behavior...

Preface -- I. Introduction: What Experiments Can Do in the History of Economic Thought? : From Adam Smith to Vernon Smith -- II. Fairness Ideals, Hidden Selfishness and Opportunistic Behavior: Experimental Approach -- III. What is ‘Fair’ Distribution under Collaboration? : Evidences from...

Was ist Behavioral Economics? -- Das “Heuristics and Biasses”-Programm -- Die Prospect Theory und ihre Konsequenzen -- Der schwache Mensch: Zinsen, Diäten und Sucht -- Weitere Forschungsfelder: Glück, Emotionen, Fairness und Neuroökonomie -- Ausgewählte Anwendungsfelder: Sozialpolitik,...

This Palgrave Pivot offers comprehensive evidence about what people actually think of “nudge” policies designed to steer decision makers’ choices in positive directions. The data reveal that people in diverse nations generally favor nudges by strong majorities, with a preference for...

Following the Great Financial Crisis, the S&P 500 advanced more than 17 percent annualized from February 2009 through June 2018. At this pace, a buy-and-hold investor in the stock market would see their money double in 5 years and more than triple in 7 years. This performance has lulled many...

Since 2008, financial firms have paid, in aggregate, in excess of $320 billion in fines related to misconduct. Nearly ten years later, while many large financial firms have increased their attention to bad behavior and cultural drivers, the degree of commitment and progress in these efforts has...