Modern Developments in Behavioral Economics: Social Science Perspectives on Choice and Decision Making

Modern Developments in Behavioral Economics: Social Science Perspectives on Choice and Decision Making

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This book examines the field of behavioral economics and provides insights into the following questions:The book looks at decision making and behavior from the point of view of (i) individual behavior and choice; (ii) group and interactive choice; and (iii) collective choices and decision making. In particular, it covers the following aspects: instances when bounded rationality leads to decisions inconsistent with standard economic assumptions; risk and the processes by which investors and consumers make decisions; altruistic and cooperative behavior as alternatives to competition; game theory...