Behavioural Economics

Author: Michelle Baddeley

Publisher: Oxford University Press

ISBN: 019875499X

Category: Business & Economics

Page: 160

View: 860

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Traditionally economists have based their economic predictions on the assumption that humans are super-rational creatures, using the information we are given efficiently and generally making selfish decisions that work well for us as individuals. Economists also assume that we're doing thevery best we can possibly do - not only for today, but over our whole lifetimes too. But increasingly the study of behavioural economics is revealing that our lives are not that simple. Instead, our decisions are complicated by our own psychology. Each of us makes mistakes every day. We don't alwaysknow what's best for us and, even if we do, we might not have the self-control to deliver on our best intentions. We struggle to stay on diets, to get enough exercise and to manage our money. We misjudge risky situations. We are prone to herding: sometimes peer pressure leads us blindly to copyothers around us; other times copying others helps us to learn quickly about new, unfamiliar situations. This Very Short Introduction explores the reasons why we make irrational decisions; how we decide quickly; why we make mistakes in risky situations; our tendency to procrastination; and how we are affected by social influences, personality, mood and emotions. The implications of understanding therationale for our own financial behaviour are huge. Behavioural economics could help policy-makers to understand the people behind their policies, enabling them to design more effective policies, while at the same time we could find ourselves assaulted by increasingly savvy marketing. MichelleBaddeley concludes by looking forward, to see what the future of behavioural economics holds for us.ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, andenthusiasm to make interesting and challenging topics highly readable.

Economics: A Very Short Introduction

Author: Partha Dasgupta

Publisher: OUP Oxford

ISBN: 9780191578281

Category: Business & Economics

Page: 192

View: 4593

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Economics has the capacity to offer us deep insights into some of the most formidable problems of life, and offer solutions to them too. Combining a global approach with examples from everyday life, Partha Dasgupta describes the lives of two children who live very different lives in different parts of the world: in the Mid-West USA and in Ethiopia. He compares the obstacles facing them, and the processes that shape their lives, their families, and their futures. He shows how economics uncovers these processes, finds explanations for them, and how it forms policies and solutions. Along the way, Dasgupta provides an intelligent and accessible introduction to key economic factors and concepts such as individual choices, national policies, efficiency, equity, development, sustainability, dynamic equilibrium, property rights, markets, and public goods. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

Global Economic History: A Very Short Introduction

Author: Robert C. Allen

Publisher: Oxford University Press

ISBN: 0199596654

Category: Business & Economics

Page: 170

View: 8514

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The gap between the rich and the poor can be vast. Robert C. Allen considers the main factors that contribute to this gap, looking at the interconnections between economic growth, culture, technology, and income distribution. Exploring the historical processes that have created the unequal world of today, he takes a global look at wealth worldwide.

Microeconomics

A Very Short Introduction

Author: Avinash Dixit

Publisher: Oxford University Press

ISBN: 0199689377

Category: Business & Economics

Page: 131

View: 8457

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The issues of microeconomics - including individuals' financial choices and firms' decisions about hiring and firing - have a large impact on the economic world, arguably as much, if not more than, macroeconomics. In this Very Short Introduction Avinash Dixit clearly explains what microeconomics is by using examples from around the world.

Behavioural Economics and Finance

Author: Michelle Baddeley

Publisher: Routledge

ISBN: 1136250093

Category: Business & Economics

Page: 310

View: 6357

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Standard models in economics and finance usually assume that people are rational, self-interested maximisers, effectively co-ordinated via the invisible hand of the price mechanism. Whilst these approaches produce tractable, simple models, they cannot fully capture the uncertainties and instabilities that affect everyday choices in today’s complex world. Insights from the other social and behavioural sciences can help to fill the gap and behavioural economics is the subject which brings economics and finance together with psychology, neuroscience and sociology. Behavioural Economics and Finance introduces the reader to some of the key concepts and insights from this rich, inter-disciplinary approach to real-world decision-making.

Environmental Economics: A Very Short Introduction

Author: Stephen Smith

Publisher: Oxford University Press

ISBN: 0199583587

Category: Business & Economics

Page: 136

View: 795

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Environmental economics can be controversial, but it is also central to some key policy issues facing governments and society today, including industrial pollution, global warming, and waste/recycling. Stephen Smith looks at how economic activity affects the environment in which we live, and how environmental policies can most effectively be used.

Game Theory: A Very Short Introduction

Author: Ken Binmore

Publisher: Oxford University Press

ISBN: 0199218463

Category: Business & Economics

Page: 184

View: 888

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Games are everywhere: Drivers maneuvering in heavy traffic are playing a driving game. Bargain hunters bidding on eBay are playing an auctioning game. The supermarket's price for corn flakes is decided by playing an economic game. This Very Short Introduction offers a succinct tour of the fascinating world of game theory, a ground-breaking field that analyzes how to play games in a rational way. Ken Binmore, a renowned game theorist, explains the theory in a way that is both entertaining and non-mathematical yet also deeply insightful, revealing how game theory can shed light on everything from social gatherings, to ethical decision-making, to successful card-playing strategies, to calculating the sex ratio among bees. With mini-biographies of many fascinating, and occasionally eccentric, founders of the subject--including John Nash, subject of the movie A Beautiful Mind--this book offers a concise overview of a cutting-edge field that has seen spectacular successes in evolutionary biology and economics, and is beginning to revolutionize other disciplines from psychology to political science. About the Series: Oxford's Very Short Introductions offers concise and original introductions to a wide range of subjects--from Islam to Sociology, Politics to Classics, and Literary Theory to History. Not simply a textbook of definitions, each volume provides trenchant and provocative--yet always balanced and complete--discussions of the central issues in a given topic. Every Very Short Introduction gives a readable evolution of the subject in question, demonstrating how it has developed and influenced society. Whatever the area of study, whatever the topic that fascinates the reader, the series has a handy and affordable guide that will likely prove indispensable.

Management: A Very Short Introduction

Author: John Hendry

Publisher: Oxford University Press

ISBN: 0199656983

Category: Business & Economics

Page: 138

View: 7316

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In this Very Short Introduction, John Hendry provides a lively introduction to the nature and principles of management. Tracing its development over the past century, Hendry looks not only at the jobs managers do today and their place in the culture of work, but also provides an insight into modern management theory.

Choice Theory: A Very Short Introduction

Author: Michael Allingham

Publisher: OUP Oxford

ISBN: 0191579262

Category: Business & Economics

Page: 144

View: 8096

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We make choices all the time - about trivial matters, about how to spend our money, about how to spend our time, about what to do with our lives. And we are also constantly judging the decisions other people make as rational or irrational. But what kind of criteria are we applying when we say that a choice is rational? What guides our own choices, especially in cases where we don't have complete information about the outcomes? What strategies should be applied in making decisions which affect a lot of people, as in the case of government policy? This book explores what it means to be rational in all these contexts. It introduces ideas from economics, philosophy, and other areas, showing how the theory applies to decisions in everyday life, and to particular situations such as gambling and the allocation of resources. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

Behavioral Economics For Dummies

Author: Morris Altman

Publisher: John Wiley & Sons

ISBN: 1118085035

Category: Business & Economics

Page: 384

View: 8311

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Looks at how psychological factors, including instinct, social pressure, and mental framing, influence an individual's financial and purchasing choices.

The Foundations of Behavioral Economic Analysis

Author: Sanjit Dhami

Publisher: Oxford University Press

ISBN: 0191087335

Category: Business & Economics

Page: 1798

View: 3297

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This is the first definitive introduction to behavioral economics aimed at advanced undergraduate and postgraduate students. Authoritative, cutting edge, yet accessible, it guides the reader through theory and evidence, providing engaging and relevant applications throughout. It is divided into nine parts and 24 chapters: Part I is on behavioral economics of risk, uncertainty, and ambiguity. The evidence against expected utility theory is examined, and the behavioral response is outlined; the best empirically supported theory is prospect theory. Part II considers other-regarding preferences. The evidence from experimental games on human sociality is given, followed by models and applications of inequity aversion, intentions based reciprocity, conditional cooperation, human virtues, and social identity. Part III is on time discounting. It considers the evidence against the exponential discounted utility model and describes several behavioral models such as hyperbolic discounting, attribute based models and the reference time theory. Part IV describes the evidence on classical game theory and considers several models of behavioral game theory, including level-k and cognitive hierarchy models, quantal response equilibrium, and psychological game theory. Part V considers behavioral models of learning that include evolutionary game theory, classical models of learning, experience weighted attraction model, learning direction theory, and stochastic social dynamics. Part VI studies the role of emotions; among other topics it considers projection bias, temptation preferences, happiness economics, and interaction between emotions and cognition. Part VII considers bounded rationality. The three main topics considered are judgment heuristics and biases, mental accounting, and behavioral finance. Part VIII considers behavioral welfare economics; the main topics are soft paternalism, and choice-based measures of welfare. Finally, Part IX gives an abbreviated taster course in neuroeconomics.

Social Psychology: A Very Short Introduction

Author: Richard J. Crisp

Publisher: OUP Oxford

ISBN: 0191024783

Category: Psychology

Page: 144

View: 9192

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Social psychology is about the people who populate our everyday lives, and how they affect our 'personal universe', defining who we are, and shaping our behaviour, beliefs, attitudes, and ideology. In an age where we've mapped the human genome and explored much of the physical world, the study of people's behaviour is one of the most exciting frontiers of scientific endeavor. In this Very Short Introduction Richard Crisp tells the story of social psychology, its history, concepts and major theories. Discussing the classic studies that have defined the discipline, Crisp introduces social psychology's key thinkers, and shows how their personal histories spurred them to understand what connects people to people, and the societies in which we live. Taking us from the first ideas of the discipline to its most cutting edge developments, Crisp demonstrates how social psychology remains profoundly relevant to everyday life. From attitudes to attraction, prejudice to persuasion, health to happiness - social psychology provides insights that can change the world, and help us tackle the defining problems of the 21st century. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

A Course in Behavioral Economics

Author: Erik Angner

Publisher: Macmillan International Higher Education

ISBN: 1137017511

Category: Business & Economics

Page: 272

View: 9721

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A Course in Behavioral Economics is a concise and reader-friendly introduction to one of the most influential areas of economics today. Covering all core areas of the subject, the book requires no advanced mathematics and is full of examples, exercises, and problems drawn from the fields of economics, management, marketing, political science, and public policy, among others. It is an ideal first textbook for students coming to behavioral economics from a wide range of disciplines, and would also appeal to the general reader looking for a thorough and readable introduction to the subject. Available to lecturers: access to an Instructor's Manual at www.palgrave.com/economics/angner, containing a sample syllabus, instructor guide, sample handouts and examinations, and PowerPoint slides.

Psychology: A Very Short Introduction

Author: Gillian Butler,Freda McManus

Publisher: Oxford University Press

ISBN: 0199670420

Category: Psychology

Page: 148

View: 5634

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Psychology is part of everyone's experience: it influences the way we think about everything from education and intelligence, to relationships and emotions, advertising and criminality. People readily behave as amateur psychologists, offering explanations for what people think, feel, and do. But what exactly are psychologists trying to do? This Very Short Introduction explores some of psychology's leading ideas and their practical relevance. In this newedition, Gillian Butler and Freda McManus explore a variety of new topics and ways of studying the brain.Exploring some of the most important advances and developments in psychology - from evolutionarypsychology and issues surrounding adolescence and aggression to cognitive psychology - this is a stimulating introduction for anyone interested in understanding the human mind.

Banking: A Very Short Introduction

Author: John Goddard,John O. S. Wilson

Publisher: Oxford University Press

ISBN: 019100281X

Category: Business & Economics

Page: 144

View: 5561

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Banks are of central importance for economic growth, the allocation of capital, competitiveness, and financial stability. Propelled by technological advances in financial analysis and financial deregulation, the banking industry's investment played a key role in enhancing national economic growth in the early 21st century. The global financial crisis in 2007 revealed the banking world's feet of clay. Since 2007, the turmoil in the global financial system has prompted a fundamental reappraisal of the scale, scope, governance, performance, safety and soundness of banks and other financial institutions. In this Very Short Introduction John Goddard and John Wilson explore the world of banking, describing the role of central banks in national and global economies, and analysing the increasing supervision and regulation imposed on the banking industry. Looking to the future, the authors consider proposals for reform of the banking industry, and the prospects of a resolution of the closely-related banking and sovereign debt crises. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

Big Data: a Very Short Introduction

Author: Dawn E. Holmes

Publisher: Oxford University Press

ISBN: 0198779577

Category: Computers

Page: 152

View: 437

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Since long before computers were even thought of, data has been collected and organized by diverse cultures across the world. Once access to the Internet became a reality for large swathes of the world's population, the amount of data generated each day became huge, and continues to grow exponentially. It includes all our uploaded documents, video, and photos, all our social media traffic, our online shopping, even the GPS data from our cars. "Big Data" represents a qualitative change, not simply a quantitative one. The term refers both to the new technologies involved, and to the way it can be used by business and government. Dawn E. Holmes uses a variety of case studies to explain how data is stored, analyzed, and exploited by a variety of bodies from big companies to organizations concerned with disease control. Big data is transforming the way businesses operate, and the way medical research can be carried out. At the same time, it raises important ethical issues; Holmes discusses cases such as the Snowden affair, data security, and domestic smart devices which can be hijacked by hackers. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

The Immune System: A Very Short Introduction

Author: Paul Klenerman

Publisher: Oxford University Press

ISBN: 0191068489

Category: Medical

Page: 144

View: 5211

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The immune system is central to human health and the focus of much medical research. Growing understanding of the immune system, and especially the creation of immune memory (long lasting protection), which can be harnessed in the design of vaccines, have been major breakthroughs in medicine. In this Very Short Introduction, Paul Klenerman describes the immune system, and how it works in health and disease. In particular he focuses on the human immune system, considering how it evolved, the basic rules that govern its behaviour, and the major health threats where it is important. The immune system comprises a series of organs, cells and chemical messengers which work together as a team to provide defence against infection. Klenerman discusses these components, the critical signals that trigger them and how they exert their protective effects, including so-called "innate" immune responses, which react very fast to infection, and "adaptive" immune responses, which have huge diversity and a capacity to recognise and defend against a massive array of micro-organisms. Klenerman also considers what happens when our immune systems fail to be activated effectively, leading to serious infections, problems with inherited diseases, and also HIV/AIDS. At the opposite extreme, as Klenerman shows, an over-exaggerated immune response leads to inflammatory diseases such as Multiple Sclerosis and Rheumatoid Arthritis, as well as allergy and asthma. Finally he looks at the "Immune system v2.o" — how immune therapies and vaccines can be advanced to protect us against the major diseases of the 21st century. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.

Irrationality in Health Care

What Behavioral Economics Reveals About What We Do and Why

Author: Douglas E. Hough

Publisher: Stanford University Press

ISBN: 0804785740

Category: Business & Economics

Page: 312

View: 6002

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The health care industry in the U.S. is peculiar. We spend close to 18% of our GDP on health care, yet other countries get better results—and we don't know why. To date, we still lack widely accepted answers to simple questions, such as "Would requiring everyone to buy health insurance make us better off?" Drawing on behavioral economics as an alternative to the standard tools of health economics, author Douglas E. Hough seeks to more clearly diagnose the ills of health care today. A behavioral perspective makes sense of key contradictions—from the seemingly irrational choices that we sometimes make as patients, to the incongruous behavior of physicians, to the morass of the long-lived debate surrounding reform. With the new health care law in effect, it is more important than ever that consumers, health care industry leaders, and the policymakers who are governing change reckon with the power and sources of our behavior when it comes to health.

Branding: a Very Short Introduction

Author: Robert Jones

Publisher: Oxford University Press

ISBN: 0198749910

Category: Business & Economics

Page: 144

View: 1403

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In this 'Very Short Introduction' Robert Jones discusses the rising omnipresence of brands, and analyses how they work their magic. He considers the incredible potency of brands as a commercial, social, and cultural force, and looks at the many different kinds of brands that exist - from products, services, and artistic properties, to companies, charities, sports clubs, and political parties. Defining what we mean by the word 'brand', he explores both the positive and negative aspects of brands. Finally Jones considers the business of branding, and asks whether the idea of brands and branding is starting to decline, or whether it has a long future ahead.

Nudge

Improving Decisions About Health, Wealth, and Happiness

Author: Richard H. Thaler,Cass R. Sunstein

Publisher: Penguin

ISBN: 1101655097

Category: Business & Economics

Page: 320

View: 4659

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From the winner of the 2017 Nobel Prize in Economics, Richard H. Thaler, and Cass R. Sunstein: a revelatory look at how we make decisions—for fans of Malcolm Gladwell’s Blink and Daniel Kahneman’s Thinking Fast and Slow New York Times bestseller Named a Best Book of the Year by The Economist and the Financial Times Every day we make choices—about what to buy or eat, about financial investments or our children’s health and education, even about the causes we champion or the planet itself. Unfortunately, we often choose poorly. Nudge is about how we make these choices and how we can make better ones. Using dozens of eye-opening examples and drawing on decades of behavioral science research, Nobel Prize winner Richard H. Thaler and Harvard Law School professor Cass R. Sunstein show that no choice is ever presented to us in a neutral way, and that we are all susceptible to biases that can lead us to make bad decisions. But by knowing how people think, we can use sensible “choice architecture” to nudge people toward the best decisions for ourselves, our families, and our society, without restricting our freedom of choice. More than 750,000 copies sold