Behavioral Economics - Evidence, Theory, and Welfare

This textbook provides an engaging and accessible introduction to the motivating questions, real-world evidence, theoretical models, and welfare implications of behavioral economics concepts. Applications and examples illustrate the broad relevance of behavioral economics for consumers, firms, markets, and policy makers alike.

List of contents

Part I Foundations; 1. Introduction; 2. Standard Decision Making; 3. Behavioral Welfare Economics; Part II Intertemporal Preferences; 4. Discounted Utility Model Anomalies; 5. Present Bias; 6. Consumption Dependence; 7. Market & Policy Responses to Present Bias; Part III Reference-Dependent Preferences; 8. Reference-Independence Anomalies; 9. Reference Dependence; 10. Market & Policy Responses to Loss Aversion; Part IV Preferences over Uncertainty; 11. Expected Utility Anomalies; 12. Non-Expected Utility; Part V Social Preferences; 13. Self-Interested Preference Anomalies; 14. Social Preferences; 15. Market & Policy Responses to Social Preferences; Part VI Beliefs; 16. Belief Anomalies; 17. Nonstandard Beliefs; 18. Market & Policy Responses to Nonstandard Beliefs; Part VII Decision Processes; 19. Mental Accounting; 20. Inattention; 21. Market & Policy Responses to Mental Accounting & Inattention

About the author

Brandon Lehr is Associate Professor of Economics at Occidental College, Los Angeles, USA.

Summary

This textbook provides an engaging and accessible introduction to the motivating questions, real-world evidence, theoretical models, and welfare implications of behavioral economics concepts. Applications and examples illustrate the broad relevance of behavioral economics for consumers, firms, markets, and policy makers alike.

Product details

• Authors: Brandon Lehr
• Publisher: Taylor & Francis Ltd.
• Languages: English
• Product format: Hardback
• Released: 31.08.2021
• EAN: 9780367426460
• ISBN: 978-0-367-42646-0
• No. of pages: 520
• Subjects: Humanities, art, music > Psychology > Theoretical psychology; Non-fiction book > Psychology, esoterics, spirituality, anthroposophy > Psychology: general, reference works; BUSINESS & ECONOMICS / Economics / Theory, BUSINESS & ECONOMICS / Economics / Microeconomics, PSYCHOLOGY / Movements / General, Economic theory & philosophy, Psychological theory, systems, schools and viewpoints, Psychological theory & schools of thought, Microeconomics, Economic theory and philosophy