In 1980, behavioural economics did not exist as a field. Most economists were deeply skeptical about importing insights from psychology into their discipline. In 2003, behavioural economics is virtually mainstream, and behavioural economists, including several contributors to this volume, have garnered some of the profession's most prestigious awards. This book assembles 25 of the most important papers in the area published since around 1990. Among them are many that update and extend earlier foundational contributions, as well as cutting-edge pieces that break new theoretical and empirical ground.
Edited by:
Colin F. Camerer,
George Loewenstein,
Matthew Rabin
Imprint: Princeton University Pres
Country of Publication: United States
Dimensions:
Height: 235mm,
Width: 152mm,
Spine: 38mm
Weight: 1.021kg
ISBN: 9780691116822
ISBN 10: 0691116822
Series: The Roundtable Series in Behavioral Economics
Pages: 776
Publication Date: 09 March 2004
Audience:
Professional and scholarly
,
College/higher education
,
Undergraduate
,
Primary
Format: Paperback
Publisher's Status: Active
LIST OF CONTRIBUTORS xi PREFACE xxi ACKNOWLEDGMENTS xxv PART ONE: INTRODUCTION 1 CHAPTER ONE Behavioral Economics: Past, Present, Future by Colin F. Camerer and George Loewenstein 3 PART TWO: BASIC TOPICS 53 REFERENCE-DEPENDENCE AND LOSS-AVERSION CHAPTER TWO Experimental Tests of the Endowment Effect and the Coase Theorem by Daniel Kahneman, Jack L. Knetsch, and Richard H. Thaler 55 CHAPTER THREE Mental Accounting Matters by Richard H. Thaler 75 PREFERENCES OVER RISKY AND UNCERTAIN OUTCOMES CHAPTER FOUR Developments in Nonexpected-Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk by Chris Starmer 104 CHAPTER FIVE Prospect Theory in the Wild: Evidence from the Field by Colin F. Camerer 148 INTERTEMPORAL CHOICE CHAPTER SIX Time Discounting and Time Preference: A Critical Review by Shane Frederick, George Loewenstein, and Ted O'Donoghue 162 CHAPTER SEVEN Doing It Now or Later by Ted O'Donoghue and Matthew Rabin 223 FAIRNESS AND SOCIAL PREFERENCES CHAPTER EIGHT Fairness as a Constraint on Profit Seeking: Entitlements in the Market by Daniel Kahneman, Jack L. Knetsch, and Richard H. Thaler 252 CHAPTER NINE A Theory of Fairness, Competition, and Cooperation by Ernst Fehr and Klaus M. Schmidt 271 CHAPTER TEN Incorporating Fairness into Game Theory and Economics by Matthew Rabin 297 CHAPTER ELEVEN Explaining Bargaining Impasse: The Role of Self-Serving Biases by Linda Babcock and George Loewenstein 326 GAME THEORY CHAPTER TWELVE Theory and Experiment in the Analysis of Strategic Interaction by Vincent P. Crawford 344 CHAPTER THIRTEEN Behavioral Game Theory: Predicting Human Behavior in Strategic Situations by Colin F. Camerer 374 PART THREE: APPLICATIONS 393 MACROECONOMICS AND SAVINGS CHAPTER FOURTEEN Mental Accounting, Saving, and Self-Control by Hersh M. Shefrin and Richard H. Thaler 395 CHAPTER FIFTEEN Golden Eggs and Hyperbolic Discounting by David Laibson 429 CHAPTER SIXTEEN The Fair Wage-Effort Hypothesis and Unemployment by George A. Akerlof and Janet L. Yellen 458 CHAPTER SEVENTEEN Money Illusion by Eldar Shafir, Peter Diamond, and Amos Tversky 483 LABOR ECONOMICS CHAPTER EIGHTEEN Fairness and Retaliation: The Economics of Reciprocity by Ernst Fehr and Simon Gachter 510 CHAPTER NINETEEN Labor Supply of New York City Cab Drivers: One Day at a Time by Colin F. Camerer, Linda Babcock, George Loewenstein, and Richard H. Thaler 533 CHAPTER TWENTY Wages, Seniority, and the Demand for Rising Consumption Profiles by Robert H. Frank and Robert M. Hutchens 548 CHAPTER TWENTY-ONE Incentives, Punishment, and Behavior by Uri Gneezy and Aldo Rustichini 572 FINANCE CHAPTER TWENTY-TWO Myopic Loss-Aversion and the Equity Premium Puzzle by Shlomo Benartzi and Richard H. Thaler 590 CHAPTER TWENTY-THREE Do Investors Trade Too Much? by Terrance Odean 606 CHAPTER TWENTY-FOUR Loss-Aversion and Seller Behavior: Evidence from the Housing Market by David Genesove and Christopher Mayer 633 PART FOUR: NEW FOUNDATIONS 657 CHAPTER TWENTY-FIVE Case-Based Decision Theory by Itzhak Gilboa and David Schmeidler 659 CHAPTER TWENTY-SIX Out of Control: Visceral Influences on Behavior by George Loewenstein 689 INDEX 725
Colin F. Camerer is Rea A. and Lela G. Axline Professor of Business Economics at the California Institute of Technology. He is the author of Behavioral Game Theory (Princeton). George Loewenstein is Professor of Economics and Psychology at Carnegie Mellon University. Matthew Rabin, Professor of Economics at the University of California, Berkeley, received the John Bates Clark Medal of the American Economics Association for 2001.
