Search results
Results from the WOW.Com Content Network
Cognitive hierarchy theory (CHT) is a behavioral model originating in behavioral economics and game theory that attempts to describe human thought processes in strategic games. CHT aims to improve upon the accuracy of predictions made by standard analytic methods (including backwards induction and iterated elimination of dominated strategies ...
Max Hal Bazerman (born August 14, 1955) is an author and researcher whose work focuses on negotiation, behavioral economics, and ethics.. In his most recent book, Better, Not Perfect, Bazerman provides insight into how individuals can make better decisions for themselves and for the world. [1]
Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory. [1] [2] Behavioral economics is primarily concerned with the bounds of rationality of economic ...
Description: In this book, Keynes put forward a theory based upon the notion of aggregate demand to explain variations in the overall level of economic activity, such as were observed in the Great Depression. The total income in a society is defined by the sum of consumption and investment; and in a state of unemployment and unused production ...
Misbehaving: The Making of Behavioral Economics is a book by Richard Thaler, economist and professor at the University of Chicago's Booth School of Business. [1] He won the Nobel Prize for Economics in 2017.
Robert Shiller's plot of the S&P Composite Real Price Index, Earnings, Dividends, and Interest Rates, from Irrational Exuberance, 2d ed. [18] In the preface to this edition, Shiller warns that "[t]he stock market has not come down to historical levels: the price-earnings ratio as I define it in this book is still, at this writing [2005], in the ...
Levels-of-processing effect: That different methods of encoding information into memory have different levels of effectiveness. [162] List-length effect: A smaller percentage of items are remembered in a longer list, but as the length of the list increases, the absolute number of items remembered increases as well. [163] Memory inhibition
Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism (2009) is a book by economists George Akerlof and Robert Shiller written to promote the understanding of the role played by emotions in influencing economic decision making.