This volume brings together contributions to the burgeoning research area of behavioral economics from a number of well-known international scholars in the field. Topics covered include 'irrational' conducts; imperfect self-knowledge; imperfect memory; time and utility; and experimental practices in psychology, economics, and finance. This book will provide a point of entry to anyone wishing to discover what the intellectual terrain between economics and psychology looks like.

In this book, David K. Levine questions the idea that behavioral economics is the answer to economic problems. He explores the successes and failures of contemporary economics both inside and outside the laboratory, and asks whether popular behavioral theories of psychological biases are solutions to the failures. The book not only provides an overview of popular behavioral theories and their history, but also gives the reader the tools for scrutinizing them.

A comprehensive overview of contemporary economic psychology Economic Psychology presents an accessible overview of contemporary economic psychology. The science of economic mental life and behavior is increasingly relevant as people are expected to take more responsibility for their household and personal economic decisions. The text will, in addition to reviewing current knowledge on each topic presented, consider the practical and policy implications for supporting economic decision making. Economic Psychology examines the central aspects of adult decision making in everyday life and includes the theories of economic decision making based on risk, value and affect, and theories of intertemporal choice. The text reviews the nature and behavioral consequences of economic mental representations about such things as material possessions, money and the economy. The editor Robert Ranyard—a noted expert on economic psychology—presents a life-span developmental approach, from childhood to old age. He also reviews the important societal issues such as charitable giving and economic sustainability. This vital resource: Reviews the economic psychology in everyday life including financial behaviour such as saving and tax-paying and matters such as entrepreneurial activity Offers an introduction to the field and traces the emergence of the discipline, from Adam Smith to George Katona and Herbert Simon Includes information on societal issues such as charitable giving and pro-environmental behaviour Considers broader perspectives on economic psychology: life-span psychological development from childhood to old age Written for students of psychology, Economic Psychology reviews the most important information on contemporary economic psychology with a focus on individual and household economic decision making, ranging widely across financial matters such as borrowing and saving, and economic activities such as buying, trading, and working.

This book combines chapters written by leading social psychologists and economists, illuminating the developing trends in explaining and understanding economic behavior in a social world. It provides insights from both fields, communicated by eloquent scholars, and demonstrates through recent research and theory how economic behaviors may be more effectively examined using a combination of both fields. Social Psychology and Economics comes at a particularly fitting time, as a psychological approach to economics has begun to flourish in recent years, and papers exploring the intersection of these two disciplines have appeared in peer-reviewed journals, opening a dynamic dialogue between previously separated fields. This volume, the first in the Society for Judgment and Decision Making Series since acquired by Psychology Press, includes chapters by economists and psychologists. It addresses a variety of economic phenomena within a social context, such as scarcity and materialism, emphasizing the importance of integrating social psychology and economics. Social Psychology and Economics is arranged in seven parts that discuss: an introduction to the topic; preferences, utility, and choice; emotions; reciprocity, cooperation, and fairness; social distance; challenges to social psychology and economics; and collaborative reflections and projections. The market for this book is students, researchers, and professionals in the disciplines of economics, psychology, business, and behavioral decision making. Graduate students and upper-level undergraduate students will consider it a useful supplemental text.

"This volume provides a point of entry for anyone interested in the interface between economics and psychology."--BOOK JACKET.

Written by two leading psychologists, this timely publication is the only up-to-date, English-language textbook on economic psychology. Focused on application, it is an essential resource for advanced undergraduate and postgraduate courses on economic psychology, behavioural economics and social psychology, in both business and psychology departments.

"The integration of economics and psychology has created a vibrant and fruitful emerging field of study. The essays in Economics and Psychology take a broad view of the interface between these two disciplines, going beyond the usual focus on "behavioral economics." As documented in this volume, the influence of psychology on economics has been responsible for a view of human behavior that calls into question the assumption of complete rationality (and raises the possibility of altruistic acts), the acceptance of experiments as a valid method of economic research, and the idea that utility or well-being can be measured. The contributors, all leading researchers in the field, offer state-of-the-art discussions of such topics as pro-social behavior and the role of conditional cooperation and trust, happiness research as an empirical tool, the potential of neuroeconomics as a way to deepen understanding of individual decision making, and procedural utility as a concept that captures the well-being people derive directly from the processes and conditions leading to outcomes. Taken together, the essays in Economics and Psychology offer an assessment of where this new interdisciplinary field stands and what directions are most promising for future research, providing a useful guide for economists, psychologists, and social scientists."--Descripción del editor.

This book is targeted at students of economics and business administration and presents the state of the art in behavioral economics and economic psychology and their applications to economics and business. It discusses economic psychological themes, information processing, and applications in fields including entrepreneurial behavior, perceptions of price, risk, inflation and economic activities, and economic socialization.

Whether we're buying a pair of jeans, ordering a cup of coffee, selecting a long-distance carrier, applying to college, choosing a doctor, or setting up a 401(k), everyday decisions—both big and small—have become increasingly complex due to the overwhelming abundance of choice with which we are presented. As Americans, we assume that more choice means better options and greater satisfaction. But beware of excessive choice: choice overload can make you question the decisions you make before you even make them, it can set you up for unrealistically high expectations, and it can make you blame yourself for any and all failures. In the long run, this can lead to decision-making paralysis, anxiety, and perpetual stress. And, in a culture that tells us that there is no excuse for falling short of perfection when your options are limitless, too much choice can lead to clinical depression. In The Paradox of Choice, Barry Schwartz explains at what point choice—the hallmark of individual freedom and self-determination that we so cherish—becomes detrimental to our psychological and emotional well-being. In accessible, engaging, and anecdotal prose, Schwartz shows how the dramatic explosion in choice—from the mundane to the profound challenges of balancing career, family, and individual needs—has paradoxically become a problem instead of a solution. Schwartz also shows how our obsession with choice encourages us to seek that which makes us feel worse. By synthesizing current research in the social sciences, Schwartz makes the counter intuitive case that eliminating choices can greatly reduce the stress, anxiety, and busyness of our lives. He offers eleven practical steps on how to limit choices to a manageable number, have the discipline to focus on those that are important and ignore the rest, and ultimately derive greater satisfaction from the choices you have to make.

"This volume provides a point of entry for anyone interested in the interface between economics and psychology."--BOOK JACKET.