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Advances in Behavioral Economics : The Roundtable Series in Behavioral Economics - Colin F. Camerer

Advances in Behavioral Economics

The Roundtable Series in Behavioral Economics

By: Colin F. Camerer (Editor), George Loewenstein (Editor), Matthew Rabin (Editor)

Paperback

Published: 28th December 2003
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Twenty years ago, behavioral economics did not exist as a field. Most economists were deeply skeptical--even antagonistic--toward the idea of importing insights from psychology into their field. Today, behavioral economics has become virtually mainstream. It is well represented in prominent journals and top economics departments, and behavioral economists, including several contributors to this volume, have garnered some of the most prestigious awards in the profession.

This book assembles the most important papers on behavioral economics published since around 1990. Among the 25 articles are many that update and extend earlier foundational contributions, as well as cutting-edge papers that break new theoretical and empirical ground.

"Advances in Behavioral Economics" will serve as the definitive one-volume resource for those who want to familiarize themselves with the new field or keep up-to-date with the latest developments. It will not only be a core text for students, but will be consulted widely by professional economists, as well as psychologists and social scientists with an interest in how behavioral insights are being applied in economics.

The articles, which follow Colin Camerer and George Loewenstein's introduction, are by the editors, George A. Akerlof, Linda Babcock, Shlomo Benartzi, Vincent P. Crawford, Peter Diamond, Ernst Fehr, Robert H. Frank, Shane Frederick, Simon Gachter, David Genesove, Itzhak Gilboa, Uri Gneezy, Robert M. Hutchens, Daniel Kahneman, Jack L. Knetsch, David Laibson, Christopher Mayer, Terrance Odean, Ted O'Donoghue, Aldo Rustichini, David Schmeidler, Klaus M. Schmidt, Eldar Shafir, Hersh M. Shefrin, Chris Starmer, Richard H. Thaler, Amos Tversky, and Janet L. Yellen.

List of Contributorsp. xi
Prefacep. xxi
Acknowledgmentsp. xxv
p. 1
Behavioral Economics: Past, Present, Futurep. 3
BASIC TOPICSp. 53
Reference-Dependence and Loss-Aversion
Experimental Tests of the Endowment Effect and the Coase Theoremp. 55
Mental Accounting Mattersp. 75
Preferences Over Risky And Uncertain Outcomes
Developments in Nonexpected-Utility Theory: The Hunt for a Descriptive Theory of Choice under Riskp. 104
Prospect Theory in the Wild: Evidence from the Fieldp. 148
Intertemporal Choice
Time Discounting and Time Preference: A Critical Reviewp. 162
Doing It Now or Laterp. 223
Fairness and Social Preferences
Fairness as a Constraint on Profit Seeking: Entitlements in the Marketp. 252
A Theory of Fairness, Competition, and Cooperationp. 271
Incorporating Fairness into Game Theory and Economicsp. 297
Explaining Bargaining Impasse: The Role of Self-Serving Biasesp. 326
Game Theory
Theory and Experiment in the Analysis of Strategic Interactionp. 344
Behavioral Game Theory: Predicting Human Behavior in Strategic Situationsp. 374
p. 393
Macroeconomics and Savings
Mental Accounting, Saving, and Self-Controlp. 395
Golden Eggs and Hyperbolic Discountingp. 429
The Fair Wage-Effort Hypothesis and Unemploymentp. 458
Money Illusion by Eldar Shafirp. 483
Labor Economics
Fairness and Retaliation: The Economics of Reciprocityp. 510
Labor Supply of New York City Cab Drivers: One Day at a Timep. 533
Wages, Seniority, and the Demand for Rising Consumption Profilesp. 548
Incentives, Punishment, and Behaviorp. 572
Finance
Myopic Loss-Aversion and the Equity Premium Puzzlep. 590
Do Investors Trade Too Much?p. 606
Loss-Aversion and Seller Behavior: Evidence from the Housing Marketp. 633
New Foundationsp. 657
Case-Based Decision Theoryp. 659
Out of Control: Visceral Influences on Behaviorp. 689
Indexp. 725
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780691116822
ISBN-10: 0691116822
Series: The Roundtable Series in Behavioral Economics
Audience: Tertiary; University or College
Format: Paperback
Language: English
Number Of Pages: 768
Published: 28th December 2003
Publisher: Princeton University Press
Country of Publication: US
Dimensions (cm): 23.9 x 16.6  x 4.1
Weight (kg): 1.06