Economists have been mistaken in many of the policies they have advocated with respect to the financial and economic crisis, and have tended to ignore the on-going crisis of climate change. Some of the problems involved in policy recommendations appear to reflect personal considerations, but...

Most analyses of decision making at the enterprise level are based on data from experimental laboratories or on publicly available information. Almost all of these studies reflect the result of decision-making processes. Only a few studies are based on open-ended interviews with decision makers...

A Guide to Behavioral Economics provides an introduction to the field for those who are not economists and for students of the social sciences, business administration and law. It should help readers get more out of the increasing number of publications that emphasize various aspects of...

Animal Spirits (2009) is a timely and widely appreciated work focusing on the need to incorporate behavioral factors in macroeconomic analysis that draws on a famous reference of John Maynard Keynes. Nonetheless, it has a number of limitations. Those in several chapters are noted. Most...

These are the notes from the first half of the course in behavioral economics offered at the School of Social Sciences of the University of the Republic in Uruguay in November 2014. This part of the course, entirely verbal, was aimed at outlining the essentials of behavioral economics. The...

The explanation of bounded rationality in terms of satisficing has been received with skepticism, but Simon's claim that satisficing reflects aspirations and their adaptation could help resolve the matter, particularly taking account of the amplifications introduced by Selten to include...