Behavioural Economics and Finance (Paperback)Michelle Baddeley (author)
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Behavioural economics and behavioural finance are rapidly expanding fields that are continually growing in prominence. While orthodox economic models are built upon restrictive and simplifying assumptions about rational choice and efficient markets, behavioural economics offers a robust alternative using insights and evidence that rest more easily with our understanding of how real people think, choose and decide. This insightful textbook introduces the key concepts from this rich, interdisciplinary approach to real-world decision-making.
This new edition of Behavioural Economics and Finance is a thorough extension of the first edition, including updates to the key chapters on prospect theory; heuristics and bias; time and planning; sociality and identity; bad habits; personality, moods and emotions; behavioural macroeconomics; and well-being and happiness. It also includes a number of new chapters dedicated to the themes of incentives and motivations, behavioural public policy and emotional trading. Using pedagogical features such as chapter summaries and revision questions to enhance reader engagement, this text successfully blends economic theories with cutting-edge multidisciplinary insights.
This second edition will be indispensable to anyone interested in how behavioural economics and finance can inform our understanding of consumers' and businesses' decisions and choices. It will appeal especially to undergraduate and graduate students but also to academic researchers, public policy-makers and anyone interested in deepening their understanding of how economics, psychology and sociology interact in driving our everyday decision-making.
Publisher: Taylor & Francis Ltd
Number of pages: 344
Weight: 544 g
Dimensions: 248 x 171 mm
Edition: 2nd New edition
"Behavioural Economics and Finance is a useful introduction into an ever-expanding area from which we can expect many other primers to emerge in the next decade.", Jason F. Shogren, University of Wyoming, Journal of Economic Literature
"This book introduces the reader to some of the key concepts and insights from the rich, interdisciplinary approach to real world decision-making of behavioural economics ... and behavioural finance. [...] Each theme is explored theoretically and illustrated with recent findings from experimental and neuroeconomics research.", Lucia A. Reisch, Journal of Consumer Policy, 2014
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