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Principles of Behavioral Economics, written by an acknowledged leader in the field, provides a comprehensive introduction to one of the most exciting areas of modern economics. It demonstrates how models of economic theory can be enriched by using interdisciplinary insights from psychology, sociology, evolutionary biology, and neuroscience to build the basis for a more empirically supported set of economic principles. Unique in its level of rigor and lucidity, the book highlights the important link between theoretical and empirical economics by demonstrating the usefulness of a range of data sources such as observational data, lab data, survey data, and neuroeconomic data. This field-defining textbook argues that behavioral economics is not just a supplement to mainstream economics. Taking behavioral economics seriously requires a total rethink, and eventual transformation, of every area of economics.
List of contents
Part I. Behavioral Decision Theory: 1. The traditional approach to decision making under risk and subjective uncertainty; 2. Modern approaches to decision making under risk and subjective uncertainty; Part II. Other Regarding Preferences: 3. Evidence on human pro-sociality, morality, and ethics; 4. Theory and applications of pro-social behaviour; Part III. Behavioral Time Discounting: 5. The traditional approach to time preferences; 6. Behavioral approaches to time preferences; Part IV. Behavioral Game Theory; 7. Introduction to behavioral game theory; 8. Topics in behavioral game theory; Part V. Bounded Rationality: 9. Bounded rationality I: judgement heuristics; 10. Bounded rationality II: topics in bounded rationality; Part VI. Further Topics in Behavioral Economics: 11. A smorgasbord of topics in behavioral economics; 12. Behavioral welfare economics.
About the author
Sanjit Dhami is Professor of Economics at the University of Leicester. He is the author of the seven-volume book, The Foundations of Behavioral Economic Analysis (2020), the leading graduate book in the area. He is also the co-author, with Cass Sunstein, of Bounded Rationality: Heuristics, Judgement, and Public Policy (2022). His research has addressed fundamental questions in behavioral economics and has spanned some of its major areas such as decision making under risk and uncertainty, other-regarding preferences, time discounting, game theory, and bounded rationality.
Summary
Written by one of the leaders in the field, this book provides a comprehensive introduction to one of the most exciting areas of modern economics. It will be useful to social and behavioral scientists wishing to gain an introduction to the field.
Foreword
The definitive, most comprehensive, introduction to behavioral and experimental economics that defines the field at the undergraduate level.
