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Hayek And Behavioral Economics
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Book Synopsis Hayek and Behavioral Economics by : R. Frantz
Download or read book Hayek and Behavioral Economics written by R. Frantz and published by Springer. This book was released on 2013-01-31 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: An exploration of Friedrich Hayek's contribution to the foundation of behavioural economics, and how his work interacted with and complemented that of his contemporaries. Chapters include detailed discussions of the concept of rationality, psychology and Hayek's philosophical theories as well as the historical context in which he lived and worked.
Book Synopsis The Beginnings of Behavioral Economics by : Roger Frantz
Download or read book The Beginnings of Behavioral Economics written by Roger Frantz and published by Academic Press. This book was released on 2019-10-05 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Beginnings of Behavioral Economics: Katona, Simon, and Leibenstein's X-Efficiency Theory explores the mid-20th century roots of behavioral economics, placing the origin of this now-dominant approach to economic theory many years before the groundbreaking 1979 work on prospect theory by Daniel Kahneman and Amos Tversky. It discusses the work of Harvey Leibenstein, Herbert Simon, George Katona, and Frederick Hayek, reintroducing their contributions as founding pillars of the behavioral approach. It concentrates on the work of Leibenstein, reviewing his nuanced introduction of X-efficiency theory. Building from these foundations, the work explores the body of empirical research on market power and firm behavior – XE relationship. This book is a tremendous resource for graduate students and early career researchers in behavioral economics, experimental economics, organizational economics, social and organizational psychology, labor market economics and public policy. Reviews the powerful, but neglected contributions of mid-20th century scholars, like Leibenstein and Katona in building the roots of behavioral economic theory Amalgamates and reviews 50 years of empirical research and over 200 empirical papers on X-efficiency theory Establishes how X-efficiency can aid modern behavioral economics in further developing firm theory and understanding efficiency wages
Download or read book F. A. Hayek written by Peter J. Boettke and published by Springer. This book was released on 2018-09-05 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the life and work of Austrian-British economist, political economist, and social philosopher, Friedrich Hayek. Set within a context of the recent financial crisis, alongside the renewed interest in Hayek and the Hayek-Keynes debate, the book introduces the main themes of Hayek’s thought. These include the division of knowledge, the importance of rules, the problems with planning and economic management, and the role of constitutional constraints in enabling the emergence of unplanned order in the market by limiting the perverse incentives and distortions in information often associated with political discretion. Key to understanding Hayek's development as a thinker is his emphasis on the knowledge problem that economic decision makers face and how alternative institutional arrangements either hinder or assist them in overcoming that epistemic dilemma. Hayek saw order emerging from individual action and responsibility under the appropriate institutional order that itself emerges from actors discovering new and better ways to coordinate their behavior. This book will be of interest to all those keen to gain a deeper understanding of this great 20th century thinker in economics.
Download or read book Evolving Norms written by Shinji Teraji and published by Springer. This book was released on 2016-06-07 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents institutional evolution and individual choice as codependent results of behavioral patterns. Drawing on F.A. Hayek's concepts of cognition and cultural evolution, Teraji demonstrates how the relationship between the sensory and social orders can allow economists to track social norms and their effects on the global economy. He redirects attention from the conventional focus on what an individual chooses to the changing social order that determines how an individual chooses. Cultural shifts provide the environmental feedback that challenges the mental models governing individual choice, creating a cycle of coevolution. Teraji develops a general framework from which to examine this symbiotic relationship in order to identify predictive patterns. Not just for behavioral economists, this book will also appeal to those who specialize in institutional economics, the philosophy of economics, and economic sociology.
Download or read book Hayek in Mind written by Leslie Marsh and published by Emerald Group Publishing. This book was released on 2011-12-06 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together for the first time state-of-the-art contributions from neuroscientists and philosophers of mind as well as economists and social theorists, all critically engaging in many aspects of Hayek's philosophical psychology.
Book Synopsis Minds, Models and Milieux by : Roger Frantz
Download or read book Minds, Models and Milieux written by Roger Frantz and published by Springer. This book was released on 2016-04-08 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a collection of specially-commissioned chapters from philosophers, economists, political and behavioral economists, cognitive and organizational psychologists, computer scientists, sociologists and permutations thereof as befits the polymathic subject of this book: Herbert Simon. The tripartite of the title, Minds, Models and Milieux, connotes the three inextricably linked areas to which Herbert Simon made the most distinguished of contributions. 'Minds' connotes Simon's abiding interest in theorizing human behavior, rationality, and decision-making; 'Models' connotes his extensive computer simulation work in the service of his interest in understanding minds, but also in the service of minds that are situated in a complex social 'Milieux'. This collection while intended to commemorate the centenary of Simon's birth simultaneously offers a timely reassessment of some of his central insights and illustrates the exponentially growing interest in Simon's work from beyond the usual disciplines and constituencies.
Book Synopsis Hayek: A Collaborative Biography by : R. Leeson
Download or read book Hayek: A Collaborative Biography written by R. Leeson and published by Springer. This book was released on 2013-05-12 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first collaborative biography of Hayek. Some of the world's most distinguished scholars will integrate the archival evidence with Hayek's published writings to illuminate the process by which Hayek changed the direction of world history.
Book Synopsis A Course in Behavioral Economics by : Erik Angner
Download or read book A Course in Behavioral Economics written by Erik Angner and published by Bloomsbury Publishing. This book was released on 2020-11-27 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook looks at decisions – how we make them, and what makes them good or bad. In this bestselling introduction, Erik Angner clearly lays out the theory of behavioral economics and explains the intuitions behind it. The book offers a rich tapestry of examples, exercises, and problems drawn from fields such as economics, management, marketing, political science, and public policy. It shows how to apply the principles of behavioral economics to improve your life and work – and to make the world a better place to boot. No advanced mathematics is required. This is an ideal textbook for students coming to behavioral economics from various fields. It can be used on its own in introductory courses, or in combination with other texts at advanced undergraduate and postgraduate levels. It is equally suitable for general readers who have been captivated by popular-science books on behavioral economics and want to know more about this intriguing subject. New to this Edition: - An updated chapter on behavioral policy and the nudge agenda. - Several new sections, for example on the economics of happiness. - Updated examples and exercises, with an expanded answer key - Refreshed ancillary resources make for a plug and play experience for instructors teaching behavioral economics for the first time.
Book Synopsis Real-World Decision Making by : Morris Altman
Download or read book Real-World Decision Making written by Morris Altman and published by Bloomsbury Publishing USA. This book was released on 2015-06-23 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first and only encyclopedia to focus on the economic and financial behaviors of consumers, investors, and organizations, including an exploration of how people make good—and bad—economic decisions. Traditional economic theories speculate how and when people should spend money. But consumers don't always behave as expected and often adopt strategies that might appear unorthodox yet are, at times, more effective than the rule prescribed by conventional wisdom. This groundbreaking text examines the ways in which people make financial decisions, whether it is because they are smart but atypical in their choices ... or just irrational decision makers. A leading authority on behavioral economics, Morris Altman and more than 150 expert contributors delve into key concepts in behavioral economics, economic psychology, behavioral finance, neuroeconomics, experimental economics, and institutional economics to help inform economic models based on reality, not theory. Through 250 informative entries, the book explores various aspects of the subject including decision making, economic analysis, and public policy. In addition to introducing concepts to readers new to the subject, the book sheds light on more advanced financial topics in a manner that is objective, comprehensive, and accessible.
Book Synopsis A Course in Behavioral Economics by : Erik Angner
Download or read book A Course in Behavioral Economics written by Erik Angner and published by Red Globe Press. This book was released on 2016-01-04 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: A concise and reader-friendly textbook on one of the hottest developments in social and behavioral science today. Covering all core areas of the subject, Erik Angner clearly lays out the theory and explains the intuitions behind it. It is full of examples, exercises, and problems drawn from fields such as economics, management, marketing, political science, and public policy. Among other things, the book shows how to apply principles of behavioral economics to science, business, medicine, and daily life. No advanced mathematics is required. An ideal introduction for students coming to behavioral economics from various fields, at both undergraduate and postgraduate levels. It is equally suitable for general readers who have been captivated by popular-science books on behavioral economics and want to know more.
Book Synopsis Hayek and Natural Law by : Erik Angner
Download or read book Hayek and Natural Law written by Erik Angner and published by Routledge. This book was released on 2007-04-05 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing a radical new reading of Hayek's life and work, this new book, by an important Hayekian scholar, dispels many of the mysteries surrounding one of the most prominent economists and political philosophers of the twentieth century.Angner argues that Hayek's work should be seen as continuous with the Natural Law tradition, going on to an
Book Synopsis The Social Science of Hayek's The Sensory Order by : William N. Butos
Download or read book The Social Science of Hayek's The Sensory Order written by William N. Butos and published by Emerald Group Publishing. This book was released on 2010-03-04 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the relevance and significance of Hayek's cognitive psychology for economics and social science.
Book Synopsis Hayek's Political Theory, Epistemology, and Economics by : Jeffrey Friedman
Download or read book Hayek's Political Theory, Epistemology, and Economics written by Jeffrey Friedman and published by Routledge. This book was released on 2016-04-14 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hayek thought that all economic behavior (and by implication other human behavior) is based on fallible interpretations of what information is important and of its implications for the future. This epistemological idea animated not only his heterodox economic thought, but his ideal of the rule of law; his road-to-serfdom thesis; and his critique of the notion of social justice. However, the epistemological idea is a protean one that Hayek did not always handle carefully. This volume presents one of the most sophisticated critical reflections on Hayek ever assembled between two covers. This book was originally published as a special issue of Critical Review.
Book Synopsis The Cognitive Basis of Institutions by : Shinji Teraji
Download or read book The Cognitive Basis of Institutions written by Shinji Teraji and published by Academic Press. This book was released on 2018-02-16 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Cognitive Basis of Institutions: A Synthesis of Behavioral and Institutional Economics synthesizes modern research in behavioral economics with traditional institutional economics. This work emphasizes that institution and agent are inextricably linked, and that both cognitive and institutional processes coalesce to influence human decision-making. It integrates cognition and institution through the behavioral economics theoretical lens of bounded rationality. Methodologically, it develops game-theoretical, complexity and neuroeconomic solutions to unite study of the two areas. The work concludes by proposing general implications for the economic study of decisions using the cognitive-institutional approach, also providing specific recommendations for public policy. Reveals how institutional structures and individual actions interact and coevolve cognitively Connects individual decision-making, decision-making processes and institutional formation Unites our understanding of cooperative ‘prosocial’ behavior with the institutional dynamics that may create it Discusses the implications of the behavioral-institutional paradigm for paternalism and libertarianism in public policy
Book Synopsis Principles of Behavioral Economics by : Peter Earl
Download or read book Principles of Behavioral Economics written by Peter Earl and published by Cambridge University Press. This book was released on 2022-07-28 with total page 541 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents the ONE behavioral approach to economics: a grand synthesis of Old, New and Evolutionary behavioral approaches.
Book Synopsis Human Agency and Behavioral Economics by : Cass R. Sunstein
Download or read book Human Agency and Behavioral Economics written by Cass R. Sunstein and published by Springer. This book was released on 2017-05-05 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Palgrave Pivot offers comprehensive evidence about what people actually think of “nudge” policies designed to steer decision makers’ choices in positive directions. The data reveal that people in diverse nations generally favor nudges by strong majorities, with a preference for educative efforts – such as calorie labels - that equip individuals to make the best decisions for their own lives. On the other hand, there are significant arguments for noneducational nudges – such as automatic enrollment in savings plans - as they allow people to devote their scarce time and attention to their most pressing concerns. The decision to use either educative or noneducative nudges raises fundamental questions about human freedom in both theory and practice. Sunstein's findings and analysis offer lessons for those involved in law and policy who are choosing which method to support as the most effective way to encourage lifestyle changes.
Download or read book The Sensory Order written by F. A. Hayek and published by University of Chicago Press. This book was released on 2012-09-15 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nobel Prize-winning economist explores how the mind works—an early landmark in the field of cognitive science. The Sensory Order, first published in 1952, sets forth F. A. Hayek's classic theory of mind in which he describes the mental mechanism that classifies perceptions that cannot be accounted for by physical laws. Though Hayek is more commonly known as an icon in the field of economics, his genius was wide-ranging—and his contribution to theoretical psychology is of continuing significance to cognitive scientists as well as to economists interested in the interplay between psychology and market systems, and has been addressed in the work of Thomas Szasz, Gerald Edelman, and Joaquin Fuster. “A most encouraging example of a sustained attempt to bring together information, inference, and hypothesis in the several fields of biology, psychology, and philosophy.”—Quarterly Review of Biology
