This Handbook is a unique and original contribution of over thirty chapters on behavioural economics, examining and addressing an important stream of research where the starting assumption is that decision-makers are for the most part relatively smart or rational. This particular approach is in contrast to a theme running through much contemporary work where individuals’ behaviour is deemed irrational, biased, and error-prone, often due to how people are hardwired. In the smart people approach, where errors or biases occur and when social dilemmas arise, more often than not, improving the decision-making environment can repair these problems without hijacking or manipulating the preferences of decision-makers. This book covers a wide-range of themes from micro to macro, including various sub-disciplines within economics such as economic psychology, heuristics, fast and slow-thinking, neuroeconomics, experiments, the capabilities approach, institutional economics, methodology, nudging, ethics, and public policy.
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Rational Decision-Making within the Bounds of Reason
Edited by Morris Altman
Terence C. Mills
Please note this updated and revised Research Review is only available online. The link to Buy Book in Print and Find This Book in Your Library is to a previous edition available in print. The previous print edition reprints the full text of many, though not all, of the Recommended Articles and complements the online edition. Economic forecasting has a long, and at times extremely chequered, history. While forecasts from large-scale macroeconomic models have attracted most attention in recent times, attempts to find temporal patterns in economic data that might enable predictions to be made about future events stretch back to the 17th century. This research review begins by discussing these early attempts at forecasting before moving on to the more current themes of macroeconomic forecasting and policy making, time series forecasting, the econometrics of forecasting, forecast evaluation, forecasting with leading indicators, forecasting in finance and economic forecasting using surveys.
- Elgar Research Reviews in Economics
James Alm and J. Sebastian Leguizamon
The last several decades have seen major advances in the ways in which public economists investigate behavioural responses to taxation. Recent research has utilized new data sets and has applied new empirical methods, including laboratory experiments and natural and controlled field experiments. The application of behavioural economics has contributed insights from other disciplines, especially psychology. James Alm and Sebastian Leguizamon discuss the lessons from all this work. Covering such topics as labour supply, charitable giving, savings, capital gains realisations, mobility, bequests, family structure, reported income and tax evasion, they highlight the current state of knowledge in this area. They present new thinking about the relevant issues and an analysis of useful policy options.
Can Better Financial Regulation Prevent Investors from Being Defrauded?
- New Horizons in Money and Finance series
Mervyn K. Lewis
A Ponzi scheme is one of the simplest, albeit effective, financial frauds to engineer, and new schemes keep coming forward. Despite this, however, people continue to invest in them. How are we to account for the seemingly never-ending lure of such schemes? In providing answers to this central question, this concise and well-researched book examines how Ponzi schemes operate, how they differ from pyramid schemes, Ponzi finance and other financial arrangements.
- Elgar Research Reviews in Economics
What are people buying when they give money away? Is pure altruism possible? Who benefits from grants to charities and subsidies to givers? Is religious giving different? Which fundraising approaches ‘wok’, and is more charity always better? Questions like these make philanthropy and fundraising among the most dynamic research areas in economics today. This research review guides students and scholars from the time when giving was seen as ‘irrational’, to the present when economics has fully embraced the complex and fascinating challenges of understanding why self-interested people can be so unselfish.
Edited by Lucia A. Reisch and John Thøgersen
This Handbook compiles the state of the art of current research on sustainable consumption from the world’s leading experts in the field. The implementation of sustainable consumption presents one of the greatest challenges and opportunities we are faced with today. On the one hand, consumption is a wanted and necessary phenomenon important for society and the economy. On the other, our means of consumption contradicts many important ecological and social long-term goals. Set against this background, the Handbook aims to offer an interdisciplinary overview of recent research on sustainable consumption, to draw attention to this subject and to encourage discussion and debate. In 27 chapters, leading authorities in the field provide their expertise in a concise and accessible manner.
Superstars, Markets and Culture Change
In this timely book Theodore Koutsobinas explores the system of status markets and their social effects including inequality. He explains how media fascination with superstars and luxury consumption goods amplify positional concerns for all, distort the aspirations of the middle class and cause relative deprivation. Building on themes first identified by Veblen and Galbraith, Koutsobinas analyses extensively the behavioural evidence from modern interdisciplinary research and contributes constructively to a new genre of economic analysis. The Political Economy of Status compels us to consider seriously redistributive culture change policies targeted to assist the underprivileged. This book will be a valuable and lively reading resource for academics in various fields including economic theory, political economy, sociology, social psychology and cultural studies.
An Economic Exploration of Sex, Marriage and Family
C. Simon Fan
This book presents an accessible and sometimes controversial economic exploration of numerous issues surrounding sex, marriage and family. It analyzes the role of ‘vanity’, defined as social status and self-esteem, in social and economic behaviors.
- Elgar original reference
Edited by Luigino Bruni and Stefano Zamagni
The recent era of economic turbulence has generated a growing enthusiasm for an increase in new and original economic insights based around the concepts of reciprocity and social enterprise. This stimulating and thought-provoking Handbook not only encourages and supports this growth, but also emphasises and expands upon new topics and issues within the economics discourse.
On the Rise of the Psychological State
Rhys Jones, Jessica Pykett and Mark Whitehead
Changing Behaviours charts the emergence of the behaviour change agenda in UK based public policy making since the late 1990s. By tracing the influence of the behavioural sciences on Whitehall policy makers, the authors explore a new psychological orthodoxy in the practices of governing. Drawing on original empirical material, chapters examine the impact of behaviour change policies in the fields of health, personal finance and the environment. This topical and insightful book analyses how the nature of the human subject itself is re-imagined through behaviour change, and develops an analytical framework for evaluating the ethics, efficacy and potential empowerment of behaviour change.