Choices, Values, and Frames

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Author :
Publisher : Cambridge University Press
ISBN 13 : 1107651069
Total Pages : 864 pages
Book Rating : 4.1/5 (76 download)

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Book Synopsis Choices, Values, and Frames by : Daniel Kahneman

Download or read book Choices, Values, and Frames written by Daniel Kahneman and published by Cambridge University Press. This book was released on 2000-09-25 with total page 864 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as helping to explain many complex, real-world puzzles. In this volume, it is brought to bear on phenomena as diverse as the principles of legal compensation, the equity premium puzzle in financial markets, and the number of hours that New York cab drivers choose to drive on rainy days. Theoretically elegant and empirically robust, this volume shows how prospect theory has matured into a new science of decision making.

Choices, Values, and Frames

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Author :
Publisher : Cambridge University Press
ISBN 13 : 9780521627498
Total Pages : 864 pages
Book Rating : 4.6/5 (274 download)

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Book Synopsis Choices, Values, and Frames by : Daniel Kahneman

Download or read book Choices, Values, and Frames written by Daniel Kahneman and published by Cambridge University Press. This book was released on 2000-09-25 with total page 864 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as helping to explain many complex, real-world puzzles. In this volume, it is brought to bear on phenomena as diverse as the principles of legal compensation, the equity premium puzzle in financial markets, and the number of hours that New York cab drivers choose to drive on rainy days. Theoretically elegant and empirically robust, this volume shows how prospect theory has matured into a new science of decision making.

Handbook Of The Fundamentals Of Financial Decision Making (In 2 Parts)

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Author :
Publisher : World Scientific
ISBN 13 : 981441736X
Total Pages : 940 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis Handbook Of The Fundamentals Of Financial Decision Making (In 2 Parts) by : Maclean Leonard C

Download or read book Handbook Of The Fundamentals Of Financial Decision Making (In 2 Parts) written by Maclean Leonard C and published by World Scientific. This book was released on 2013-05-10 with total page 940 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook in two parts covers key topics of the theory of financial decision making. Some of the papers discuss real applications or case studies as well. There are a number of new papers that have never been published before especially in Part II.Part I is concerned with Decision Making Under Uncertainty. This includes subsections on Arbitrage, Utility Theory, Risk Aversion and Static Portfolio Theory, and Stochastic Dominance. Part II is concerned with Dynamic Modeling that is the transition for static decision making to multiperiod decision making. The analysis starts with Risk Measures and then discusses Dynamic Portfolio Theory, Tactical Asset Allocation and Asset-Liability Management Using Utility and Goal Based Consumption-Investment Decision Models.A comprehensive set of problems both computational and review and mind expanding with many unsolved problems are in an accompanying problems book. The handbook plus the book of problems form a very strong set of materials for PhD and Masters courses both as the main or as supplementary text in finance theory, financial decision making and portfolio theory. For researchers, it is a valuable resource being an up to date treatment of topics in the classic books on these topics by Johnathan Ingersoll in 1988, and William Ziemba and Raymond Vickson in 1975 (updated 2nd edition published in 2006).

Judgment Under Uncertainty

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Author :
Publisher : Cambridge University Press
ISBN 13 : 9780521284141
Total Pages : 574 pages
Book Rating : 4.2/5 (841 download)

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Book Synopsis Judgment Under Uncertainty by : Daniel Kahneman

Download or read book Judgment Under Uncertainty written by Daniel Kahneman and published by Cambridge University Press. This book was released on 1982-04-30 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thirty-five chapters describe various judgmental heuristics and the biases they produce, not only in laboratory experiments, but in important social, medical, and political situations as well. Most review multiple studies or entire subareas rather than describing single experimental studies.

The Essential Tversky

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Publisher : MIT Press
ISBN 13 : 0262535106
Total Pages : 396 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis The Essential Tversky by : Amos Tversky

Download or read book The Essential Tversky written by Amos Tversky and published by MIT Press. This book was released on 2018-07-17 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some of the best and most influential papers by Amos Tversky, one of the most brilliant social science thinkers of the twentieth century. Amos Tversky (1937–1996) was a towering figure in the cognitive and decision sciences. His work was ingenious, exciting, and influential, spanning topics from intuition to statistics to behavioral economics. His long and extraordinarily productive collaboration with his friend and colleague Daniel Kahneman was the subject of Michael Lewis's best-selling book, The Undoing Project: A Friendship that Changed Our Minds. The Essential Tversky offers a selection of Tversky's best, most influential and accessible papers, “classics” chosen to capture the essence of Tversky's thought. The impact of Tversky's work is far reaching and long-lasting. In 2002, Kahneman, who drew on their joint work in his much-praised 2013 book, Thinking, Fast and Slow (and who contributes an afterword to this collection), was awarded the Nobel Prize in Economics for work done with Tversky. In The Undoing Project, Lewis (who contributes a foreword to this collection) describes his discovery that Tversky and Kahneman's thinking laid the foundation for Moneyball, his own ode to number-crunching. The papers collected in The Essential Tversky cover topics that include cognitive and perceptual bias, misguided beliefs, inconsistent preferences, risky choice and loss aversion decisions, and psychological common sense. Together, they offer nonspecialist readers an introduction to one of the most brilliant social science thinkers of the twentieth century.

Heuristics and Biases

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Publisher : Cambridge University Press
ISBN 13 : 9780521796798
Total Pages : 884 pages
Book Rating : 4.7/5 (967 download)

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Book Synopsis Heuristics and Biases by : Thomas Gilovich

Download or read book Heuristics and Biases written by Thomas Gilovich and published by Cambridge University Press. This book was released on 2002-07-08 with total page 884 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, first published in 2002, compiles psychologists' best attempts to answer important questions about intuitive judgment.

Thinking, Fast and Slow

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Author :
Publisher : Farrar, Straus and Giroux
ISBN 13 : 1429969350
Total Pages : 511 pages
Book Rating : 4.4/5 (299 download)

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Book Synopsis Thinking, Fast and Slow by : Daniel Kahneman

Download or read book Thinking, Fast and Slow written by Daniel Kahneman and published by Farrar, Straus and Giroux. This book was released on 2011-10-25 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: Major New York Times bestseller Winner of the National Academy of Sciences Best Book Award in 2012 Selected by the New York Times Book Review as one of the ten best books of 2011 A Globe and Mail Best Books of the Year 2011 Title One of The Economist's 2011 Books of the Year One of The Wall Street Journal's Best Nonfiction Books of the Year 2011 2013 Presidential Medal of Freedom Recipient Kahneman's work with Amos Tversky is the subject of Michael Lewis's The Undoing Project: A Friendship That Changed Our Minds In his mega bestseller, Thinking, Fast and Slow, Daniel Kahneman, the renowned psychologist and winner of the Nobel Prize in Economics, takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation—each of these can be understood only by knowing how the two systems shape our judgments and decisions. Engaging the reader in a lively conversation about how we think, Kahneman reveals where we can and cannot trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choices are made in both our business and our personal lives—and how we can use different techniques to guard against the mental glitches that often get us into trouble. Winner of the National Academy of Sciences Best Book Award and the Los Angeles Times Book Prize and selected by The New York Times Book Review as one of the ten best books of 2011, Thinking, Fast and Slow is destined to be a classic.

Thinking Points

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Publisher : Macmillan
ISBN 13 : 9780374530907
Total Pages : 180 pages
Book Rating : 4.5/5 (39 download)

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Book Synopsis Thinking Points by : George Lakoff

Download or read book Thinking Points written by George Lakoff and published by Macmillan. This book was released on 2006 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Prospect Theory

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Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (53 download)

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Book Synopsis Prospect Theory by : Daniel Kahneman

Download or read book Prospect Theory written by Daniel Kahneman and published by . This book was released on 1979 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

News Framing Effects

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Author :
Publisher : Routledge
ISBN 13 : 1351802550
Total Pages : 144 pages
Book Rating : 4.3/5 (518 download)

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Book Synopsis News Framing Effects by : Sophie Lecheler

Download or read book News Framing Effects written by Sophie Lecheler and published by Routledge. This book was released on 2018-09-03 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: News Framing Effects is a guide to framing effects theory, one of the most prominent theories in media and communication science. Rooted in both psychology and sociology, framing effects theory describes the ability of news media to influence people’s attitudes and behaviors by subtle changes to how they report on an issue. The book gives expert commentary on this complex theoretical notion alongside practical instruction on how to apply it to research. The book’s structure mirrors the steps a scholar might take to design a framing study. The first chapter establishes a working definition of news framing effects theory. The following chapters focus on how to identify the independent variable (i.e., the "news frame") and the dependent variable (i.e., the "framing effect"). The book then considers the potential limits or enhancements of the proposed effects (i.e., the "moderators") and how framing effects might emerge (i.e., the "mediators"). Finally, it asks how strong these effects are likely to be. The final chapter considers news framing research in the light of a rapidly and fundamentally changing news and information market, in which technologies, platforms, and changing consumption patterns are forcing assumptions at the core of framing effects theory to be re-evaluated.

Private Law, Nudging and Behavioural Economic Analysis

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Author :
Publisher : Routledge
ISBN 13 : 1000028178
Total Pages : 176 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Private Law, Nudging and Behavioural Economic Analysis by : Antonios Karampatzos

Download or read book Private Law, Nudging and Behavioural Economic Analysis written by Antonios Karampatzos and published by Routledge. This book was released on 2020-01-14 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offering a fresh perspective on "nudging", this book uses legal paternalism to explore how legal systems may promote good policies without ignoring personal autonomy. It suggests that the dilemma between inefficient opt-in rules and autonomy restricting opt-out schemes fails to realistically capture the span of options available to the policy maker. There is a third path, namely the ‘mandated-choice model’. The book is mainly dedicated to presenting this model and exploring its great potential. Contract law, consumer protection, products safety and regulatory problems such as organ donation or excessive borrowing are the setting for the discussion. Familiarising the reader with a hot debate on paternalism, behavioural economics and private law, this book takes a further step and links this behavioural law and economics discussion with philosophical considerations to shed a light on modern challenges, such as organ donation or consumers protection, by adopting an openly interdisciplinary approach. The book will be of interest to students and scholars of contract law, legal systems, behavioural law and economics, and consumer law.

Advances in Behavioral Economics

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Publisher : Princeton University Press
ISBN 13 : 1400829119
Total Pages : 769 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Advances in Behavioral Economics by : Colin F. Camerer

Download or read book Advances in Behavioral Economics written by Colin F. Camerer and published by Princeton University Press. This book was released on 2011-12-12 with total page 769 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 Gächter, 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.

Choice Over Time

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Publisher : Russell Sage Foundation
ISBN 13 : 1610443659
Total Pages : 424 pages
Book Rating : 4.6/5 (14 download)

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Book Synopsis Choice Over Time by : George Loewenstein

Download or read book Choice Over Time written by George Loewenstein and published by Russell Sage Foundation. This book was released on 1992-10-27 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many of our most urgent national problems suggest a widespread lack of concern for the future. Alarming economic conditions, such as low national savings rates, declining corporate investment in long-term capital projects, and ballooning private and public debt are matched by such social ills as diminished educational achievement, environmental degradation, and high rates of infant mortality, crime, and teenage pregnancy. At the heart of all these troubles lies an important behavioral phenomenon: in the role of consumer, manager, voter, student, or parent, many Americans choose inferior but immediate rewards over greater long-term benefits. Choice Over Time offers a rich sampling of original research on intertemporal choice—how and why people decide between immediate and delayed consequences—from a broad range of theoretical and methodological perspectives in philosophy, political science, psychology, and economics. George Loewenstein, Jon Elster, and their distinguished colleagues review existing theories and forge new approaches to understanding significant questions: Why do people seem to "discount" future benefits? Do individuals use the same decision-making strategy in all aspects of their lives? What part is played by situational factors such as the certainty of delayed consequences? How are decisions affected by personal factors such as willpower and taste? In addressing these issues, the contributors to Choice Over Time address many social, economic, psychological, and personal time problems. Their work demonstrates the predictive power of short-term preferences in behavior as varied as addiction and phobia, the effect of prices on consumption, and the dramatic rise in debt and decline in savings. Choice Over Time provides an essential source for the most recent research and theory on intertemporal choice, offering new models for time preference patterns—and their aberrations—and presenting a diversity of potential solutions to the problem of "temporal myopia."

Reframing Organizations

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Publisher : John Wiley & Sons
ISBN 13 : 1118573315
Total Pages : 805 pages
Book Rating : 4.1/5 (185 download)

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Book Synopsis Reframing Organizations by : Lee G. Bolman

Download or read book Reframing Organizations written by Lee G. Bolman and published by John Wiley & Sons. This book was released on 2013-07-16 with total page 805 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this fifth edition of the bestselling text in organizational theory and behavior, Bolman and Deal’s update includes coverage of pressing issues such as globalization, changing workforce, multi-cultural and virtual workforces and communication, and sustainability. A full instructor support package is available including an instructor’s guide, summary tip sheets for each chapter, hot links to videos & extra resources, mini-assessments for each of the frames, and podcast Q&As with Bolman & Deal.

Strategy and Choice

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Publisher : MIT Press
ISBN 13 : 9780262240338
Total Pages : 418 pages
Book Rating : 4.2/5 (43 download)

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Book Synopsis Strategy and Choice by : Richard Zeckhauser

Download or read book Strategy and Choice written by Richard Zeckhauser and published by MIT Press. This book was released on 1991 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: These essays by contributors from disciplines ranging from economics to psychology present the most significant advances in strategic choice theory. In three parts the book addresses many-player, few-player and one-player situations.

Framers

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Publisher : Penguin
ISBN 13 : 0593182596
Total Pages : 273 pages
Book Rating : 4.5/5 (931 download)

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Book Synopsis Framers by : Kenneth Cukier

Download or read book Framers written by Kenneth Cukier and published by Penguin. This book was released on 2021-05-11 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Cukier and his co-authors have a more ambitious project than Kahneman and Harari. They don’t want to just point out how powerfully we are influenced by our perspectives and prejudices—our frames. They want to show us that these frames are tools, and that we can optimise their use.” —Forbes From pandemics to populism, AI to ISIS, wealth inequity to climate change, humanity faces unprecedented challenges that threaten our very existence. The essential tool that will enable humanity to find the best way foward is defined in Framers by internationally renowned authors Kenneth Cukier, Viktor Mayer-Schönberger, and Francis de Véricourt. To frame is to make a mental model that enables us to make sense of new situations. Frames guide the decisions we make and the results we attain. People have long focused on traits like memory and reasoning, leaving framing all but ignored. But with computers becoming better at some of those cognitive tasks, framing stands out as a critical function—and only humans can do it. This book is the first guide to mastering this human ability. Illustrating their case with compelling examples and the latest research, authors Cukier, Mayer-Schönberger, and de Véricourt examine: · Why advice to “think outside the box” is useless · How Spotify beat Apple by reframing music as an experience · How the #MeToo twitter hashtag reframed the perception of sexual assault · The disaster of framing Covid-19 as equivalent to seasonal flu, and how framing it akin to SARS delivered New Zealand from the pandemic Framers shows how framing is not just a way to improve how we make decisions in the era of algorithms—but why it will be a matter of survival for humanity in a time of societal upheaval and machine prosperity.

Behavioral Decision Theory

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Author :
Publisher : Springer Nature
ISBN 13 : 9811654530
Total Pages : 389 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis Behavioral Decision Theory by : Kazuhisa Takemura

Download or read book Behavioral Decision Theory written by Kazuhisa Takemura and published by Springer Nature. This book was released on 2021-09-29 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the second edition of Behavioral Decision Theory, published in 2014. The main approach and structure of this book have been retained in the new edition. However, this second edition provides a fresh overview of the idea of behavioral decision theory and related research findings such as theoretical and empirical discoveries of preference formation, time discounting, social interaction, and social decision making. The book covers a wide range from classical to relatively recent major studies concerning behavioral decision theory, which, in brief, is a general term for descriptive theories to explain the psychological knowledge related to people’s decision-making behavior. It is called a theory but is actually a combination of various psychological theories, for which no axiomatic systems—such as those associated with the utility theory widely used in economics—have been established. The utility theory is often limited to qualitative knowledge; however, as the studies of Nobel laureates H. A. Simon, D. Kahneman, and R. Thaler have suggested, the psychological methodology and knowledge of behavioral decision theory have been applied widely in such fields as economics, business administration, and engineering and are expected to become even more useful in the future. Research into people’s decision making represents an important part in those fields, various aspects of which overlap with the scope of behavioral decision theory. This theory is closely related to behavioral economics and behavioral finance, which have come into greater use in recent years. This book will appeal especially to graduate students, advanced undergraduate students, and researchers who are interested in decision-making phenomena.