Behavioral Predictive Modeling In Economics

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Behavioral Predictive Modeling in Economics

Author : Songsak Sriboonchitta
Publisher : Springer Nature
ISBN 13 : 3030497283
Total Pages : 445 pages
Book Rating : 4.0/5 (34 download)

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Book Synopsis Behavioral Predictive Modeling in Economics by : Songsak Sriboonchitta

Download or read book Behavioral Predictive Modeling in Economics written by Songsak Sriboonchitta and published by Springer Nature. This book was released on 2020-08-05 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents both methodological papers on and examples of applying behavioral predictive models to specific economic problems, with a focus on how to take into account people's behavior when making economic predictions. This is an important issue, since traditional economic models assumed that people make wise economic decisions based on a detailed rational analysis of all the relevant aspects. However, in reality – as Nobel Prize-winning research has shown – people have a limited ability to process information and, as a result, their decisions are not always optimal. Discussing the need for prediction-oriented statistical techniques, since many statistical methods currently used in economics focus more on model fitting and do not always lead to good predictions, the book is a valuable resource for researchers and students interested in the latest results and challenges and for practitioners wanting to learn how to use state-of-the-art techniques.

Applying Behavioral Economics in Predictive Analytics for B2B Churn

Author : Arash Barfar
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Applying Behavioral Economics in Predictive Analytics for B2B Churn by : Arash Barfar

Download or read book Applying Behavioral Economics in Predictive Analytics for B2B Churn written by Arash Barfar and published by . This book was released on 2017 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Motivated by the long-standing debate on rationality in behavioral economics and the potential of theory-driven predictive analytics, this paper examines the link between service quality and B2B churn. Using longitudinal B2B transactional data with service quality indicators provided by a large company, we present evidence that both rationality and bounded-rationality assumptions play significant roles in predicting organizational decisions on churn. Specifically, variables that relate to the assumed rationality of organizations appear to provide accurate predictions while, at the same time, variables that capture boundedly rational decision rules appear to play a role through “somatic states” that make organizations more sensitive to the rational variables. In addition to presenting a novel approach for predicting organizational decisions on churn, this paper offers theoretical and managerial insights as well as opportunities for future research at the intersection of behavioral economics and predictive analytics for decision-making.

Behavioral Interactions, Markets, and Economic Dynamics

Author : Shinsuke Ikeda
Publisher : Springer
ISBN 13 : 4431555013
Total Pages : 668 pages
Book Rating : 4.4/5 (315 download)

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Book Synopsis Behavioral Interactions, Markets, and Economic Dynamics by : Shinsuke Ikeda

Download or read book Behavioral Interactions, Markets, and Economic Dynamics written by Shinsuke Ikeda and published by Springer. This book was released on 2015-09-12 with total page 668 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects important contributions in behavioral economics and related topics, mainly by Japanese researchers, to provide new perspectives for the future development of economics and behavioral economics. The volume focuses especially on economic studies that examine interactions of multiple agents and/or market phenomena by using behavioral economics models. Reflecting the diverse fields of the editors, the book captures broad influences of behavioral economics on various topics in economics. Those subjects include parental altruism, economic growth and development, the relative and permanent income hypotheses, wealth distribution, asset price bubbles, auctions, search, contracts, personnel management and market efficiency and anomalies in financial markets. The chapter authors have added newly written addenda to the original articles in which they address their own subsequent works, supplementary analyses, detailed information on the underlying data and/or recent literature surveys. This will help readers to further understand recent developments in behavioral economics and related research.

The Foundations of Behavioral Economic Analysis

Author : Sanjit Dhami
Publisher : Oxford University Press, USA
ISBN 13 : 0198853688
Total Pages : 300 pages
Book Rating : 4.1/5 (988 download)

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Book Synopsis The Foundations of Behavioral Economic Analysis by : Sanjit Dhami

Download or read book The Foundations of Behavioral Economic Analysis written by Sanjit Dhami and published by Oxford University Press, USA. This book was released on 2019-12-16 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This sixth volume of The Foundations of Behavioral Economic Analysis covers behavioral models of learning. It is an essential guide for advanced undergraduate and postgraduate students seeking a concise and focused text on this important subject, and examines evolutionary game theory, models of learning, and stochastic social dynamics. 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.

Behavioral Economy Methods Predict Organizational Behavior and Marketing Behav

Author : Johnny Ch Lok
Publisher :
ISBN 13 : 9781717336835
Total Pages : 376 pages
Book Rating : 4.3/5 (368 download)

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Book Synopsis Behavioral Economy Methods Predict Organizational Behavior and Marketing Behav by : Johnny Ch Lok

Download or read book Behavioral Economy Methods Predict Organizational Behavior and Marketing Behav written by Johnny Ch Lok and published by . This book was released on 2018-04-23 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past 20 years, many researchers believe to apply behavioral economic macroeconomic models which can predict market behavioral change. The reasons are based on assumptions of optimizing behavior in many cases have difficulty accounting for key real-world observations. Hence, researchers have used behavioral economics assumptions with the aim of making their model predicting better fit the data.

Behavioral Data Analysis with R and Python

Author : Florent Buisson
Publisher : "O'Reilly Media, Inc."
ISBN 13 : 1492061344
Total Pages : 361 pages
Book Rating : 4.4/5 (92 download)

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Book Synopsis Behavioral Data Analysis with R and Python by : Florent Buisson

Download or read book Behavioral Data Analysis with R and Python written by Florent Buisson and published by "O'Reilly Media, Inc.". This book was released on 2021-06-15 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: Harness the full power of the behavioral data in your company by learning tools specifically designed for behavioral data analysis. Common data science algorithms and predictive analytics tools treat customer behavioral data, such as clicks on a website or purchases in a supermarket, the same as any other data. Instead, this practical guide introduces powerful methods specifically tailored for behavioral data analysis. Advanced experimental design helps you get the most out of your A/B tests, while causal diagrams allow you to tease out the causes of behaviors even when you can't run experiments. Written in an accessible style for data scientists, business analysts, and behavioral scientists, thispractical book provides complete examples and exercises in R and Python to help you gain more insight from your data--immediately. Understand the specifics of behavioral data Explore the differences between measurement and prediction Learn how to clean and prepare behavioral data Design and analyze experiments to drive optimal business decisions Use behavioral data to understand and measure cause and effect Segment customers in a transparent and insightful way

The Art of Forecasting Economic Growth

Author : Barrett Williams
Publisher : Barrett Williams
ISBN 13 :
Total Pages : 163 pages
Book Rating : 4./5 ( download)

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Book Synopsis The Art of Forecasting Economic Growth by : Barrett Williams

Download or read book The Art of Forecasting Economic Growth written by Barrett Williams and published by Barrett Williams. This book was released on 2024-08-24 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unlock the Power of Predicting Tomorrow with "The Art of Forecasting Economic Growth"! Are you ready to delve into the intricate world of economic forecasting? Discover the strategies, methods, and tools that shape the way experts predict future economic trends. "The Art of Forecasting Economic Growth" is your comprehensive guide to mastering economic predictions and leveraging them for smarter decision-making. Start your journey with an essential introduction to economic forecasting, exploring its significance, history, and the key players that have set the stage. As you progress, get acquainted with the fundamentals of data analysis in economics – uncover the types of data, collection methods, and basic concepts in economic modeling. Dive deeper into statistical techniques with chapters dedicated to descriptive and inferential statistics, and regression analysis. Grasp the intricacies of time series analysis and learn how to utilize economic indicators for accurate predictions. Build your full understanding of constructing and validating predictive economic models. Venture into advanced econometric techniques and discover the cutting-edge role of machine learning in economic forecasting. Understand the impact of big data, and the nuanced field of behavioral economics, to enhance your forecasting accuracy even further. Explore the significance of economic policy analysis, scenario planning, and stress testing. Enhance your insight on forecasting financial markets and evaluate the accuracy of your predictions with clear, actionable metrics. Learn the best practices for communicating your forecasts, ensuring clarity and impact. Ethics play a critical role in economic forecasting. This eBook provides a mindful exploration of ethical considerations, dilemmas, and solutions, backed by real-world case studies. Utilize forecasts to shape business strategies and align them with market realities. As you reach the final chapters, look ahead to the future of economic forecasting, exploring emerging trends, the transformative influence of AI, and the dynamics of a globalized economy. "The Art of Forecasting Economic Growth" is a must-have for anyone seeking to understand and apply economic forecasting techniques. Equip yourself with the knowledge to predict, plan, and prosper in an ever-changing economic landscape. Your journey into the future of economics starts here!

Behavioral Economics

Author : Brandon Lehr
Publisher : Routledge
ISBN 13 : 1000432645
Total Pages : 543 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis Behavioral Economics by : Brandon Lehr

Download or read book Behavioral Economics written by Brandon Lehr and published by Routledge. This book was released on 2021-08-16 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioral Economics: Evidence, Theory, and Welfare provides an engaging and accessible introduction to the motivating questions, real-world evidence, theoretical models, and welfare implications of behavioral economics concepts. Applications and examples — from household decisions, finance, public finance, labor, business, health, development, politics, education, energy, and sports — illustrate the broad relevance of behavioral economics for consumers, firms, markets, and policy makers alike. This textbook provides readers with both the intuition and analytical tools to apply behavioral economics concepts in understanding the complex social world. Each part of the book covers a key concept, beginning with a range of empirical evidence that is anomalous within the standard economics framework. In light of this evidence, a second chapter introduces and applies a nonstandard behavioral modeling approach. The last chapter of each part explores market reactions and policy responses to individuals behaving in nonstandard ways. Numerous exercises of varying types and levels provide readers the opportunity to check and enrich their understanding. The book’s clear structure orients readers to the many concepts of behavioral economics. It also highlights the process by which economists evaluate evidence and disentangle theories with different social welfare implications. Accessible to students from diverse economic backgrounds, this textbook is an ideal resource for courses on behavioural economics, experimental economics and related areas. The accompanying Solutions Manual further extends learning and engagement.

Rethinking Behavioral Economics Through Fast-and-Frugal Heuristics

Author : Shabnam Mousavi
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Rethinking Behavioral Economics Through Fast-and-Frugal Heuristics by : Shabnam Mousavi

Download or read book Rethinking Behavioral Economics Through Fast-and-Frugal Heuristics written by Shabnam Mousavi and published by . This book was released on 2019 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goal of behavioral economics is to develop models that extend the explanatory and predictive power of economic theory, to address violations of expected utility theory, and to account more realistically for individual choice behavior that does not adhere to calculative rationality. In mainstream behavioral economics, two defining practices have been to list so-called cognitive fallacies and to extend existing expected utility models by adding parameters to account for behavioral factors. Both practices have met their limits. Many cognitive fallacies have been shown to be most likely error on the part of researchers, and adding parameters has been shown to improve fitting but not necessarily the predictive power of the revised utility model. In view of this situation, we review fast-and-frugal heuristics as an alternative vision of behavioral economics that leads to testable process models with superior predictive power. Such a theory satisfies Herbert Simon's criteria of developing process models rather than as-if Bernoulli functions, deals with genuine uncertainty rather than reducing uncertainty to calculable risk, and postulates ecological rather than logical rationality.

The Behavioral Economics of Inflation Expectations

Author : Tobias F. Rötheli
Publisher : Cambridge University Press
ISBN 13 : 1108482856
Total Pages : 247 pages
Book Rating : 4.1/5 (84 download)

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Book Synopsis The Behavioral Economics of Inflation Expectations by : Tobias F. Rötheli

Download or read book The Behavioral Economics of Inflation Expectations written by Tobias F. Rötheli and published by Cambridge University Press. This book was released on 2020-08-13 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: A behavioral approach to modeling macroeconomic expectations.

Handbook of Contemporary Behavioral Economics

Author : Morris Altman
Publisher : Routledge
ISBN 13 : 1317469151
Total Pages : 1015 pages
Book Rating : 4.3/5 (174 download)

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Book Synopsis Handbook of Contemporary Behavioral Economics by : Morris Altman

Download or read book Handbook of Contemporary Behavioral Economics written by Morris Altman and published by Routledge. This book was released on 2015-01-30 with total page 1015 pages. Available in PDF, EPUB and Kindle. Book excerpt: At a time when both scholars and the public demand explanations and answers to key economic problems that conventional approaches have failed to resolve, this groundbreaking handbook of original works by leading behavioral economists offers the first comprehensive articulation of behavioral economics theory. Borrowing from the findings of psychologists, sociologists, political scientists, legal scholars, and biologists, among others, behavioral economists find that intelligent individuals often tend not to behave as effectively or efficiently in their economic decisions as long held by conventional wisdom. The manner in which individuals actually do behave critically depends on psychological, institutional, cultural, and even biological considerations. "Handbook of Contemporary Behavioral Economics" includes coverage of such critical areas as the Economic Agent, Context and Modeling, Decision Making, Experiments and Implications, Labor Issues, Household and Family Issues, Life and Death, Taxation, Ethical Investment and Tipping, and Behavioral Law and Macroeconomics. Each contribution includes an extensive bibliography.

Behavioral Economics

Author : Fabrizio Ghisellini
Publisher : Springer
ISBN 13 : 3319752057
Total Pages : 241 pages
Book Rating : 4.3/5 (197 download)

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Book Synopsis Behavioral Economics by : Fabrizio Ghisellini

Download or read book Behavioral Economics written by Fabrizio Ghisellini and published by Springer. This book was released on 2018-07-06 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sets the agenda to turn behavioral economics, which has long been considered a subordinate discipline, into mainstream economics. Ghisellini and Chang expose the conceptual and empirical inadequacy of conventional economics using illustrations of real world decision-making in a dynamic environment, including evidence from the global financial crisis. With a rigorous yet accessible style, they give a comprehensive overview of behavioral economics and of the current state of play in the field across different schools of thought. Seven major conceptual problems still affecting the development of behavioral economics are identified and the authors propose research avenues to address these issues and allow the discipline to receive its long-awaited recognition. Crucial reading for researchers and students looking for insights into the many unsolved problems of economics.

Behavioral Economy Methods Predict Organizational Behavior and Marketing Behavior

Author : Johnny Ch LOK
Publisher :
ISBN 13 : 9781980929987
Total Pages : 375 pages
Book Rating : 4.9/5 (299 download)

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Book Synopsis Behavioral Economy Methods Predict Organizational Behavior and Marketing Behavior by : Johnny Ch LOK

Download or read book Behavioral Economy Methods Predict Organizational Behavior and Marketing Behavior written by Johnny Ch LOK and published by . This book was released on 2018-04-25 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: Part One Behavioral micro and macro economic conceptChapter One Behavioral economy method predictsorganizational behavioral changes and marketing behavioral changes. Over the past 20 years, many researchers believe to apply behavioral economic macroeconomic models which can predict market behavioral change. The reasons are based on assumptions of optimizing behavior in many cases have difficulty accounting for key real-world observations. Hence, researchers have used behavioral economics assumptions with the aim of making their model predicting better fit the data. The reason for behavioral economics results into macroeconomics will be more accurate to predict market behavioral change in macro-economy view point, such as economic fluctuation prediction, the consumption, formation of expectations and determination of wages and employment how to aggregation supply and the possibility of consumer individual demand product or service number prediction more accurately. Which assumptions should one now make when analyzing macro-economic questions? Economists believe some marketing changing behavioral assumptions that have already been implemented in macro-economic models, such as fairness consideration. Hence, marketing changing behavioral assumptions are needed for explaining macro-economic concept. ⦁ How to apply behavioral economy theory to predict marketing behavioral changes more accurate?In my this book, it will have two parts. The first part concerns why these US or UK enterprise change their marketing strategies to solve consumer behavioral changing challenges as the as the second part concerns why these US or UK enterprises change their organizational internal management strategies to solve their staffs' works or emotions challenges from their behavioral economy method.In first part, I shall apply micro or macroeconomic concept to assume why any one of these UK or US enterprises which are needed to change any marketing strategies from their consumer behavioral changing factor influences. I choose to apply micro or macroeconomic concept to assume that because macro or microeconomic evidence is more reasonable to prove why UK and US both countries themselves markets will be influenced to change these below UK and US enterprises' marketing strategies by their consumers' behavioral changing influences.

Behavioral Economics

Author : James W. Allison
Publisher : New York : Praeger
ISBN 13 :
Total Pages : 248 pages
Book Rating : 4.:/5 (41 download)

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Book Synopsis Behavioral Economics by : James W. Allison

Download or read book Behavioral Economics written by James W. Allison and published by New York : Praeger. This book was released on 1983 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Behavioral Economics

Author : Masao Ogaki
Publisher : Springer
ISBN 13 : 9811064393
Total Pages : 211 pages
Book Rating : 4.8/5 (11 download)

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Book Synopsis Behavioral Economics by : Masao Ogaki

Download or read book Behavioral Economics written by Masao Ogaki and published by Springer. This book was released on 2018-02-05 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is intended as a textbook for a course in behavioral economics for advanced undergraduate and graduate students who have already learned basic economics. The book will also be useful for introducing behavioral economics to researchers. Unlike some general audience books that discuss behavioral economics, this book does not take a position of completely negating traditional economics. Its position is that both behavioral and traditional economics are tools that have their own uses and limitations. Moreover, this work makes clear that knowledge of traditional economics is a necessary basis to fully understand behavioral economics. Some of the special features compared with other textbooks on behavioral economics are that this volume has full chapters on neuroeconomics, cultural and identity economics, and economics of happiness. These are distinctive subfields of economics that are different from, but closely related to, behavioral economics with many important overlaps with behavioral economics. Neuroeconomics, which is developing fast partly because of technological progress, seeks to understand how the workings of our minds affect our economic decision making. In addition to a full chapter on neuroeconomics, the book provides explanations of findings in neuroeconomics in chapters on prospect theory (a major decision theory of behavioral economics under uncertainty), intertemporal economic behavior, and social preferences (preferences that exhibit concerns for others). Cultural and identity economics seek to explain how cultures and people’s identities affect economic behaviors, and economics of happiness utilizes measures of subjective well-being. There is also a full chapter on behavioral normative economics, which evaluates economic policies based on findings and theories of behavioral economics.

The Foundations of Behavioral Economic Analysis

Author : Sanjit Dhami
Publisher : Oxford University Press
ISBN 13 : 0192574647
Total Pages : 510 pages
Book Rating : 4.1/5 (925 download)

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Book Synopsis The Foundations of Behavioral Economic Analysis by : Sanjit Dhami

Download or read book The Foundations of Behavioral Economic Analysis written by Sanjit Dhami and published by Oxford University Press. This book was released on 2019-02-14 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: Taken from the first definitive introduction to behavioral economics, The Foundations of Behavioral Economic Analysis: Other-Regarding Preferences is an authoritative and cutting edge guide to this essential topic for advanced undergraduate and postgraduate students. It considers the evidence from experimental games on human sociality, and gives models and applications of inequity aversion, intention based reciprocity, conditional cooperation, human virtues, and social identity. 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 behavioural economics.

Handbook of Behavioral Economics - Foundations and Applications 1

Author :
Publisher : Elsevier
ISBN 13 : 0444633898
Total Pages : 748 pages
Book Rating : 4.4/5 (446 download)

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Book Synopsis Handbook of Behavioral Economics - Foundations and Applications 1 by :

Download or read book Handbook of Behavioral Economics - Foundations and Applications 1 written by and published by Elsevier. This book was released on 2018-09-27 with total page 748 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics Written for those who wish to become quickly acquainted with behavioral economics