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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.
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.
Nudge: Improving Decisions about Health, Wealth, and Happiness is a book written by University of Chicago economist and Nobel laureate [1] Richard H. Thaler, and Harvard Law School professor Cass R. Sunstein, first published in 2008.
The status of behavioral economics as a subfield of economics is a fairly recent development; the breakthroughs that laid the foundation for it were published through the last three decades of the 20th century. [6] [7] Behavioral economics is still growing as a field, being used increasingly in research and in teaching. [8]
Behavioral economics and public policy is a field that investigates how the discipline of behavioral economics can be used to enhance the formation, implementation and evaluation of public policy. [ 1 ] [ 2 ] Using behavioral insights, it explores how to make policies more effective, efficient and humane by considering real-world human behavior ...
Blink devotes a significant number of pages to the so-called theory of mind reading. While allowing that mind-reading can "sometimes" go wrong, the book enthusiastically celebrates the apparent success of the practice, despite hosts of scientific tests showing that claims of clairvoyance rarely beat the odds of random chance guessing. [11]
The behavioral theory of the firm first appeared in the 1963 book A Behavioral Theory of the Firm by Richard M. Cyert and James G. March. [1] The work on the behavioral theory started in 1952 when March, a political scientist, joined Carnegie Mellon University, where Cyert was an economist. [2]