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E-grāmata: Foundations of Behavioral Economic Analysis: Volume VII: Further Topics in Behavioral Economics

(Professor of Economics, University of Leicester)
  • Formāts: 320 pages
  • Izdošanas datums: 15-Jul-2020
  • Izdevniecība: Oxford University Press
  • Valoda: eng
  • ISBN-13: 9780192606495
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  • Formāts: 320 pages
  • Izdošanas datums: 15-Jul-2020
  • Izdevniecība: Oxford University Press
  • Valoda: eng
  • ISBN-13: 9780192606495
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This seventh volume of The Foundations of Behavioral Economic Analysis covers a range of topics in behavioral economics. It is an essential guide for advanced undergraduate and postgraduate students seeking a concise and focused text that explores the key areas of emotions in economics, behavioral welfare economics, and neuroeconomics.

This updated extract from Dhami's leading textbook allows the reader to pursue subsections of this vast and rapidly growing field and to tailor their reading to their specific interests in behavioral economics.

Recenzijas

Volume 7 of a seven-volume set examines the impact of emotions on economic decision making and their interaction with cognition, covering the topics of behavioral welfare economics and neuroeconomics. * Journal of Economic Literature (Volume 59, no. 1) *

List of Figures
xxi
List of Tables
xxv
Introduction to Volume 7 1(6)
Introduction to Behavioral Economics and the Book Volumes 7(38)
1 Some antecedents of behavioral economics
9(1)
2 On methodology in economics
10(6)
3 The experimental method in economics
16(12)
3.1 Experiments and internal validity
17(2)
3.2 Subject pools used in lab experiments
19(1)
3.3 Stake sizes in experiments
20(1)
3.4 The issue of the external validity of lab findings
20(2)
3.5 The role of incentives in economics
22(3)
3.6 Is survey data of any use?
25(2)
3.7 Replications in experimental economics
27(1)
4 Approach and organization of the book
28(5)
5 Appendix A: The random lottery incentive mechanism
33(1)
6 Appendix B: In lieu of a problem set
33(5)
References for Introduction
38(7)
Part I EMOTIONS
1 Emotions and Human Behavior
45(62)
1.1 Introduction
45(3)
1.2 Visceral influences and the rationality of emotions
48(7)
1.2.1 Visceral influences
48(2)
1.2.2 Rationality and emotions
50(5)
1.3 Cue-conditioned behavior and habit formation
55(7)
1.3.1 Solution to the no-cues model
57(2)
1.3.2 Solution to the cues model
59(3)
1.4 Anticipation and delay under certainty
62(2)
1.5 Fear and anxiety under uncertainty
64(6)
1.5.1 An outline of the framework
65(1)
1.5.2 Life-cycle consumption, portfolio choice, and asset prices under anxiety
66(4)
1.6 Projection bias
70(7)
1.6.1 Preferences under projection bias
71(1)
1.6.2 Habit formation, life-cycle consumption, and projection bias
72(3)
1.6.3 An application to consumer durables
75(1)
1.6.4 Other applications of projection bias
76(1)
1.7 Temptation preferences: a revealed preference approach
77(8)
1.7.1 The formal model
78(6)
1.7.2 Interpreting temptation preferences in a planner-doer framework
84(1)
1.8 Temptation and conflicts between commitment and flexibility
85(5)
1.8.1 First best outcome
86(1)
1.8.2 The optimal commitment solution under asymmetric information
87(2)
1.8.3 Some empirical evidence on self-control
89(1)
1.9 Happiness economics
90(17)
1.9.1 Why should we be interested in subjective well-being?
90(3)
1.9.2 The relation between life-satisfaction/happiness and GDP
93(10)
1.9.3 Other important economic correlates of well-being
103(4)
2 Interactions between Emotions and Cognition
107(50)
2.1 Introduction
107(2)
2.2 Emotions and a two-modules view of the brain
109(9)
2.2.1 An introduction to the two-modules view
109(1)
2.2.2 An illustrative framework
110(8)
2.3 A dual selves model with costly commitment
118(5)
2.3.1 The model without commitment
118(2)
2.3.2 Commitment via a cash-in-advance constraint
120(3)
2.4 Information asymmetries between emotions and cognition
123(4)
2.4.1 The full information equilibrium
124(1)
2.4.2 The asymmetric information equilibrium
125(2)
2.5 Strategic ignorance, confidence, and self-esteem
127(14)
2.5.1 Strategic ignorance
128(2)
2.5.2 Confidence, motivation, and self-esteem
130(11)
2.6 Exercises for Part I
141(6)
References for Part I
147(10)
Part II BEHAVIORAL WELFARE ECONOMICS
3 Behavioral Welfare Economics
157(66)
3.1 Introduction
157(4)
3.2 Fixing basic ideas
161(7)
3.2.1 The basic framework
162(3)
3.2.2 Direct paternalism
165(1)
3.2.3 Indirect paternalism
166(1)
3.2.4 Libertarian paternalism
167(1)
3.2.5 Effect of other policies
168(1)
3.3 Soft paternalism
168(12)
3.3.1 Libertarian paternalism
169(2)
3.3.2 Asymmetric paternalism
171(2)
3.3.3 A pragmatic approach
173(1)
3.3.4 Some applications of soft paternalism
174(3)
3.3.5 A critique of soft paternalism
177(1)
3.3.6 A note on behavioral welfare criteria
178(2)
3.4 Regulation under imperfect self-information
180(2)
3.5 Choice and non-choice data: What is the scope of economics?
182(7)
3.6 Choice-based behavioral welfare economics
189(7)
3.7 Revealed preference under limited attention
196(6)
3.8 The contractarian approach
202(1)
3.9 Behavioral public finance and welfare
203(10)
3.9.1 Limited attention and tax elasticities
203(2)
3.9.2 Tax incidence under limited attention
205(2)
3.9.3 Excess burden under limited attention
207(4)
3.9.4 A note on reduced-form approaches to behavioral public finance
211(2)
3.10 Exercises for Part II
213(4)
References for Part II
217(6)
Part III NEUROECONOMICS
4 Neuroeconomics
223(62)
4.1 Introduction
223(4)
4.2 A brief introduction to the brain
227(7)
4.3 An introduction to neuroeconomic techniques
234(6)
4.3.1 Criteria for evaluating neuroeconomic measurement techniques
235(1)
4.3.2 Single unit recording
235(1)
4.3.3 Electroencephalography and magnetoencephalography
236(1)
4.3.4 Positron Emission Tomography
236(1)
4.3.5 Functional magnetic resonance imaging
237(1)
4.3.6 Manipulation techniques
238(2)
4.4 The neuroeconomics of risky decisions
240(8)
4.4.1 Neural basis of value and risk
240(2)
4.4.2 Reference dependence
242(2)
4.4.3 Loss aversion
244(2)
4.4.4 Non-linear probability weighting
246(2)
4.5 The neuroeconomics of social preferences
248(17)
4.5.1 Computation of social rewards in the brain
248(1)
4.5.2 The neural basis of inequity averse preferences
249(3)
4.5.3 Neural basis of social punishment and trust
252(11)
4.5.4 Human virtues and the brain
263(1)
4.5.5 Neural interplay of guilt and social preferences
264(1)
4.6 The neuroeconomics of time preferences
265(3)
4.7 The neuroeconomics of strategic interaction
268(3)
4.8 Pharmacoeconomics: an application to social effects of oxytocin
271(3)
References for Part III
274(11)
Part IV A GUIDE TO FURTHER READING
5 A Guide to Further Reading
285(46)
5.1 Introduction
285(2)
5.2 Temptation, commitment, and self-control
287(4)
5.3 Additional evidence on projection bias
291(2)
5.4 The need for a holistic approach to behavioral public policy
293(2)
5.5 More on the effectiveness of nudges
295(1)
5.6 A consideration of unexpected effects of nudges
296(6)
5.7 Nudges and costs of overriding defaults
302(3)
5.7.1 Theoretical model
302(3)
5.7.2 Empirical results
305(1)
5.8 Default nudges and present biased preferences
305(9)
5.8.1 Theoretical Model
306(7)
5.8.2 Empirical results
313(1)
5.9 Behavioral public finance
314(3)
5.10 Some fundamental issues in behavioral welfare economics
317(4)
5.11 Some new findings in neuroeconomics
321(4)
References for Part IV
325(6)
Name Index 331(6)
Subject Index 337
Sanjit Dhami is Professor of Economics at the University of Leicester. He studied at the Delhi School of Economics and the University of Toronto for his Masters, MPhil, and PhD degrees in economics. He has previously taught at the Universities of Toronto, Essex, and Newcastle. His research has mainly focused on behavioral economic theory and its applications. He has published on the axiomatic foundations of the various components of prospect theory, behavioral political economy using other-regarding preferences, behavioral time preferences, foundations of behavioral game theory, and applications in tax evasion, stochastic dominance concepts under other-regarding preferences, and in behavioral law and economics.