A Model Of Reference Dependent Preferences

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Handbook of Behavioral Economics - Foundations and Applications 1

Author :
Publisher : Elsevier
ISBN 13 : 0444633898
Total Pages : 749 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 749 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

Behavioural Sports Economics

Author : Hannah Josepha Rachel Altman
Publisher : Routledge
ISBN 13 : 1000522695
Total Pages : 377 pages
Book Rating : 4.0/5 (5 download)

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Book Synopsis Behavioural Sports Economics by : Hannah Josepha Rachel Altman

Download or read book Behavioural Sports Economics written by Hannah Josepha Rachel Altman and published by Routledge. This book was released on 2021-12-19 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists have entered into the realm of sports to provide what they believe to be more cogent explanations for sport-related behaviour and to suggest ways in which incentives can improve sports outcomes. But prices and income, the traditional workhorses of conventional economics, can only provide partial explanations and understandings. Drawing on a bounded rationality approach to behavioural economics, this book demonstrates the analytical insights to be gained by supplementing the conventional economics toolbox with psychological, cognitive, sociological, and institutional factors. The international cast list of contributors cover a wide range of sports topics on which a behavioural approach can reveal new insights. These include preferences, managerial, efficiency, choking, doping, favouritism, athlete well- being, and spectator behaviour. Throughout the book, there is an emphasis on the cognitive limits to smart decision-making as well as the critical role played by the decision-making environment. This volume demonstrates that adopting a bounded rationality approach, complimented with other behaviouralist approaches, helps to better explain sport-related behavioural, sub-optimal behavioural, and market failures. It also provides insights that could be used to improve sports outcomes and the well-being of those involved in sports and to better configure policy to enhance sports performance. This groundbreaking book will be an indispensable reference to students and scholars of sports economics, sports management, and sports science.

Prospect Theory

Author : Peter P. Wakker
Publisher : Cambridge University Press
ISBN 13 : 1139489100
Total Pages : 519 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis Prospect Theory by : Peter P. Wakker

Download or read book Prospect Theory written by Peter P. Wakker and published by Cambridge University Press. This book was released on 2010-07-22 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prospect Theory: For Risk and Ambiguity, provides a comprehensive and accessible textbook treatment of the way decisions are made both when we have the statistical probabilities associated with uncertain future events (risk) and when we lack them (ambiguity). The book presents models, primarily prospect theory, that are both tractable and psychologically realistic. A method of presentation is chosen that makes the empirical meaning of each theoretical model completely transparent. Prospect theory has many applications in a wide variety of disciplines. The material in the book has been carefully organized to allow readers to select pathways through the book relevant to their own interests. With numerous exercises and worked examples, the book is ideally suited to the needs of students taking courses in decision theory in economics, mathematics, finance, psychology, management science, health, computer science, Bayesian statistics, and engineering.

Advances in Behavioral Economics

Author : Colin F. Camerer
Publisher : Princeton University Press
ISBN 13 : 0691116822
Total Pages : 768 pages
Book Rating : 4.6/5 (911 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 2004 with total page 768 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today, behavioral economics has become virtually mainstream.

Behavioral Economics

Author : Brandon Lehr
Publisher : Routledge
ISBN 13 : 9780367426460
Total Pages : 534 pages
Book Rating : 4.4/5 (264 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 2021-08-11 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook 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 illustrate the broad relevance of behavioral economics for consumers, firms, markets, and policy makers alike.

Outcome Uncertainty in Sporting Events

Author : Plácido Rodríguez
Publisher : Edward Elgar Publishing
ISBN 13 : 1839102179
Total Pages : 187 pages
Book Rating : 4.8/5 (391 download)

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Book Synopsis Outcome Uncertainty in Sporting Events by : Plácido Rodríguez

Download or read book Outcome Uncertainty in Sporting Events written by Plácido Rodríguez and published by Edward Elgar Publishing. This book was released on 2020-06-26 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines competitive balance and outcome uncertainty from multiple perspectives. Chapters address the topic in different sports in a range of countries, to help to understand its significance. It provides readers with important new insights into previously unexplored dimensions as well as a rich context for better understanding why fans, teams, and leagues value competitive balance. The book challenges readers to think about the topic in a broad and rigorous way, and in some cases to question widely held beliefs about how outcome uncertainty motivates competitive balance, and how sports fans actually view competitive balance.

Behavioral Economics and Its Applications

Author : Peter Diamond
Publisher : Princeton University Press
ISBN 13 : 1400829143
Total Pages : 331 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Behavioral Economics and Its Applications by : Peter Diamond

Download or read book Behavioral Economics and Its Applications written by Peter Diamond and published by Princeton University Press. This book was released on 2012-01-12 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last decade, behavioral economics, borrowing from psychology and sociology to explain decisions inconsistent with traditional economics, has revolutionized the way economists view the world. But despite this general success, behavioral thinking has fundamentally transformed only one field of applied economics-finance. Peter Diamond and Hannu Vartiainen's Behavioral Economics and Its Applications argues that behavioral economics can have a similar impact in other fields of economics. In this volume, some of the world's leading thinkers in behavioral economics and general economic theory make the case for a much greater use of behavioral ideas in six fields where these ideas have already proved useful but have not yet been fully incorporated--public economics, development, law and economics, health, wage determination, and organizational economics. The result is an attempt to set the agenda of an important development in economics--an agenda that will interest policymakers, sociologists, and psychologists as well as economists. Contributors include Ian Ayres, B. Douglas Bernheim, Truman F. Bewley, Colin F. Camerer, Anne Case, Michael D. Cohen, Peter Diamond, Christoph Engel, Richard G. Frank, Jacob Glazer, Seppo Honkapohja, Christine Jolls, Botond Koszegi, Ulrike Malmendier, Sendhil Mullainathan, Antonio Rangel, Emmanuel Saez, Eldar Shafir, Sir Nicholas Stern, Jean Tirole, Hannu Vartiainen, and Timothy D. Wilson.

Experimental Economics and Culture

Author : Anna Gunnthorsdottir
Publisher : Emerald Group Publishing
ISBN 13 : 1787438201
Total Pages : 282 pages
Book Rating : 4.7/5 (874 download)

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Book Synopsis Experimental Economics and Culture by : Anna Gunnthorsdottir

Download or read book Experimental Economics and Culture written by Anna Gunnthorsdottir and published by Emerald Group Publishing. This book was released on 2018-12-14 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributions in this volume discuss new approaches to the measurement of culture and how to conceptualize and define values and beliefs and the groups that share them, and they contribute to the growing body of literature that documents how cultural differences in social and economic behavior.

Discrete Choice Methods with Simulation

Author : Kenneth Train
Publisher : Cambridge University Press
ISBN 13 : 0521766559
Total Pages : 399 pages
Book Rating : 4.5/5 (217 download)

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Book Synopsis Discrete Choice Methods with Simulation by : Kenneth Train

Download or read book Discrete Choice Methods with Simulation written by Kenneth Train and published by Cambridge University Press. This book was released on 2009-07-06 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the new generation of discrete choice methods, focusing on the many advances that are made possible by simulation. Researchers use these statistical methods to examine the choices that consumers, households, firms, and other agents make. Each of the major models is covered: logit, generalized extreme value, or GEV (including nested and cross-nested logits), probit, and mixed logit, plus a variety of specifications that build on these basics. Simulation-assisted estimation procedures are investigated and compared, including maximum stimulated likelihood, method of simulated moments, and method of simulated scores. Procedures for drawing from densities are described, including variance reduction techniques such as anithetics and Halton draws. Recent advances in Bayesian procedures are explored, including the use of the Metropolis-Hastings algorithm and its variant Gibbs sampling. The second edition adds chapters on endogeneity and expectation-maximization (EM) algorithms. No other book incorporates all these fields, which have arisen in the past 25 years. The procedures are applicable in many fields, including energy, transportation, environmental studies, health, labor, and marketing.

Behavioural and Experimental Economics

Author : Steven Durlauf
Publisher : Springer
ISBN 13 : 0230280781
Total Pages : 279 pages
Book Rating : 4.2/5 (32 download)

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Book Synopsis Behavioural and Experimental Economics by : Steven Durlauf

Download or read book Behavioural and Experimental Economics written by Steven Durlauf and published by Springer. This book was released on 2016-04-30 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.

Limited-Dependent and Qualitative Variables in Econometrics

Author : G. S. Maddala
Publisher : Cambridge University Press
ISBN 13 : 1107782414
Total Pages : 418 pages
Book Rating : 4.1/5 (77 download)

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Book Synopsis Limited-Dependent and Qualitative Variables in Econometrics by : G. S. Maddala

Download or read book Limited-Dependent and Qualitative Variables in Econometrics written by G. S. Maddala and published by Cambridge University Press. This book was released on 1986-06-27 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the econometric analysis of single-equation and simultaneous-equation models in which the jointly dependent variables can be continuous, categorical, or truncated. Despite the traditional emphasis on continuous variables in econometrics, many of the economic variables encountered in practice are categorical (those for which a suitable category can be found but where no actual measurement exists) or truncated (those that can be observed only in certain ranges). Such variables are involved, for example, in models of occupational choice, choice of tenure in housing, and choice of type of schooling. Models with regulated prices and rationing, and models for program evaluation, also represent areas of application for the techniques presented by the author.

NBER Macroeconomics Annual 2013

Author : Jonathan A. Parker
Publisher : University of Chicago Press Journals
ISBN 13 : 9780226165400
Total Pages : 0 pages
Book Rating : 4.1/5 (654 download)

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Book Synopsis NBER Macroeconomics Annual 2013 by : Jonathan A. Parker

Download or read book NBER Macroeconomics Annual 2013 written by Jonathan A. Parker and published by University of Chicago Press Journals. This book was released on 2014-05-22 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The twenty-eighth edition of the NBER Macroeconomics Annual continues its tradition of featuring theoretical and empirical research on central issues in contemporary macroeconomics. As in previous years, this volume not only addresses recent developments in macroeconomics, but also takes up important policy-relevant questions and opens new debates that will continue for years to come. The first two papers in this year’s issue tackle fiscal and monetary policy, asking how interest rates and inflation can remain low despite fiscal policy behavior that appears inconsistent with a monetary policy regime focused only on inflation and output and not on fiscal balances as recently observed in the U.S. The third examines the implications of reference-dependent preferences and moral hazard in employment fluctuations in the labor market. The fourth paper addresses money and inflation, analyzing the long run inflation rate, the coexistence of money with pledgeable and money-like assets, and why inflation did not increase in response to business-cycle fluctuations in productivity. And the fifth looks at the stock market and how it relates to the real economy. The final chapter discusses the large and public shift towards more expansionary monetary policy that has recently occurred in Japan.

Reference-Dependent Preferences

Author : Evelyn Stommel
Publisher : Springer Science & Business Media
ISBN 13 : 3658006358
Total Pages : 229 pages
Book Rating : 4.6/5 (58 download)

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Book Synopsis Reference-Dependent Preferences by : Evelyn Stommel

Download or read book Reference-Dependent Preferences written by Evelyn Stommel and published by Springer Science & Business Media. This book was released on 2012-11-02 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most of our daily decisions are made under uncertainty and risk, without complete information about all relevant aspects. We all constantly make such decisions, from the simplest “should I take my raincoat today?” to more serious examples, such as those on investment and portfolio decisions, holding of shares, insurance patterns, or negotiation processes. Within these situations, the bounded rationality of individuals and institutions towards risk and uncertainty is embedded. The central theory underlying this study is prospect theory, an adequate model to predict the real and most often bounded rationality of human behavior given certain incentives, preferences, and constraints. Evelyn Stommel investigates a crucial question within behavioral economics, namely the research on reference points within human decision making processes. Based on experimental investigations, she focuses three key challenges: what constitutes a reference point, the process of the formation of a reference point, and factors influencing the formation of reference points.

Handbook of Behavioral Economics - Foundations and Applications 2

Author :
Publisher : Elsevier
ISBN 13 : 0444633960
Total Pages : 530 pages
Book Rating : 4.4/5 (446 download)

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Book Synopsis Handbook of Behavioral Economics - Foundations and Applications 2 by :

Download or read book Handbook of Behavioral Economics - Foundations and Applications 2 written by and published by Elsevier. This book was released on 2019-01-29 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Behavioral Economics, Volume 2, Foundations and Applications offers critical perspectives on theoretical work within behavioral economics, delivering a comprehensive, critical, up-to-date, and accessible review of the field that has always been missing. This literature summary of the conceptual foundations underlying behavioral economics is written by, and for, economists, with chapters covering Intertemporal choice, Reference-dependent preferences, Beliefs, Cognition, Social preferences, Behavioral game theory, Welfare, and Neuroeconomics. - Helps academic and non-academic economists understand recent rapid changes in theoretical 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

Rural-urban Migration in Developing Countries

Author : Somik V. Lall
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 63 pages
Book Rating : 4./5 ( download)

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Book Synopsis Rural-urban Migration in Developing Countries by : Somik V. Lall

Download or read book Rural-urban Migration in Developing Countries written by Somik V. Lall and published by World Bank Publications. This book was released on 2006 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The migration of labor from rural to urban areas is an important part of the urbanization process in developing countries. Even though it has been the focus of abundant research over the past five decades, some key policy questions have not found clear answers yet. To what extent is internal migration a desirable phenomenon and under what circumstances? Should governments intervene and, if so, with what types of interventions? What should be their policy objectives? To shed light on these important issues, the authors survey the existing theoretical models and their conflicting policy implications and discuss the policies that may be justified based on recent relevant empirical studies. A key limitation is that much of the empirical literature does not provide structural tests of the theoretical models, but only provides partial findings that can support or invalidate intuitions and in that sense, support or invalidate the policy implications of the models. The authors' broad assessment of the literature is that migration can be beneficial or at least be turned into a beneficial phenomenon so that in general migration restrictions are not desirable. They also identify some data issues and research topics which merit further investigation. "--World Bank web site.

Valuing Environmental Goods

Author : Ronald G. Cummings
Publisher : Rowman & Littlefield Publishers
ISBN 13 :
Total Pages : 298 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Valuing Environmental Goods by : Ronald G. Cummings

Download or read book Valuing Environmental Goods written by Ronald G. Cummings and published by Rowman & Littlefield Publishers. This book was released on 1986 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: To find more information about Rowman and Littlefield titles, please visit www.rowmanlittlefield.com.

Policy and Choice

Author : William J. Congdon
Publisher : Brookings Institution Press
ISBN 13 : 0815704984
Total Pages : 260 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis Policy and Choice by : William J. Congdon

Download or read book Policy and Choice written by William J. Congdon and published by Brookings Institution Press. This book was released on 2011 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that public finance--the study of the government's role in economics--should incorporate principles from behavior economics and other branches of psychology.