Philosophical Problems Of Behavioural Economics Download Ebook PDF Epub Online

Author : Stefan Heidl
Publisher : Routledge
Release : 2016-05-05
Page : 164
Category : Business & Economics
ISBN 13 : 1317267834
Description :


The goal of behavioural economics is to improve the explanatory and predictive power of economics. This can be achieved by using theoretical and methodological resources of psychology. Its fundamental idea is that the relationship between psychology and economics cannot be subsumed under standard philosophical accounts of intertheoretical relations. Philosophical Problems of Behavioural Economics argues that behavioural economics is best understood as an attempt to deidealize economic theory guided by psychological research. Behavioural economics deconstructs the model of decision-making by adding different elements. Based on this understanding behavioural economics has a number of tasks: first, it has to identify which economic theory needs to be challenged; second it aims to identify factors which need to be modelled within economic theories of choice and modify the theory accordingly; and finally, it has to create models that explain economic phenomena based on the new theory. This book analyses the different stages of this deconstruction process and shows how the scientific disciplines of economics and psychology are connected by it. This volume develops a new account of intertheoretical relations based on the idea of deidealization and thus contributes to debates within the philosophy of social science. It is suitable for those who are interested in or study economic theory and philosophy, economic psychology and philosophy of social science.


Author : Ivan Moscati
Publisher : Oxford Studies in History of E
Release : 2018-11-22
Page : 344
Category : Business & Economics
ISBN 13 : 0199372764
Description :


Utility is a key concept in the economics of individual decision-making. However, utility is not measurable in a straightforward way. As a result, from the very beginning there has been debates about the meaning of utility as well as how to measure it. This book is an innovative investigation of how these arguments changed over time. Measuring Utility reconstructs economists' ideas and discussions about utility measurement from 1870 to 1985, as well as their attempts to measure utility empirically. The book brings into focus the interplay between the evolution of utility analysis, economists' ideas about utility measurement, and their conception of what measurement in general means. It also explores the relationships between the history of utility measurement in economics, the history of the measurement of sensations in psychology, and the history of measurement theory in general. Finally, the book discusses some methodological problems related to utility measurement, such as the epistemological status of the utility concept and its measures. The first part covers the period 1870-1910, and discusses the issue of utility measurement in the theories of Jevons, Menger, Walras and other early utility theorists. Part II deals with the emergence of the notions of ordinal and cardinal utility during the period 1900-1945, and discusses two early attempts to give an empirical content to the notion of utility. Part III focuses on the 1945-1955 debate on utility measurement that was originated by von Neumann and Morgenstern's expected utility theory (EUT). Part IV reconstructs the experimental attempts to measure the utility of money between 1950 and 1985 within the framework provided by EUT. This historical and epistemological overview provides keen insights into current debates about rational choice theory and behavioral economics in the theory of individual decision-making and the philosophy of economics.


Author : Uskali Mäki
Publisher : Elsevier
Release : 2012
Page : 903
Category : Mathematics
ISBN 13 : 044451676X
Description :


Part of the Handbook of the Philosophy of Science Series edited by: Dov M. Gabbay King's College, London, UK; Paul Thagard University of Waterloo, Canada; and John Woods University of British Columbia, Canada. Philosophy of Economics investigates the foundational concepts and methods of economics, the social science that analyzes the production, distribution and consumption of goods and services. This groundbreaking collection, the most thorough treatment of the philosophy of economics ever published, brings together philosophers, scientists and historians to map out the central topics in the field. The articles are divided into two groups. Chapters in the first group deal with various philosophical issues characteristic of economics in general, including realism and Lakatos, explanation and testing, modeling and mathematics, political ideology and feminist epistemology. Chapters in the second group discuss particular methods, theories and branches of economics, including forecasting and measurement, econometrics and experimentation, rational choice and agency issues, game theory and social choice, behavioral economics and public choice, geographical economics and evolutionary economics, and finally the economics of scientific knowledge. This volume serves as a detailed introduction for those new to the field as well as a rich source of new insights and potential research agendas for those already engaged with the philosophy of economics. Provides a bridge between philosophy and current scientific findings Encourages multi-disciplinary dialogue Covers theory and applications


Author : OECD
Publisher : OECD Publishing
Release : 2017-03-01
Page : 404
Category :
ISBN 13 : 9264270485
Description :


This report discusses the use and reach of behavioural insights, drawing on a comprehensive collection of over 100 applications across the world and policy sectors.


Author : Aristides N. Hatzis
Nicholas Mercuro
Publisher : Routledge
Release : 2015-02-11
Page : 364
Category : Business & Economics
ISBN 13 : 1317550315
Description :


The Law and Economics approach to law dominates the intellectual discussion of nearly every doctrinal area of law in the United States and its influence is growing steadily throughout Europe, Asia, and South America. Numerous academics and practitioners are working in the field with a flow of uninterrupted scholarship that is unprecedented, as is its influence on the law. Academically every major law school in the United States has a Law and Economics program and the emergence of similar programs on other continents continues to accelerate. Despite its phenomenal growth, the area is also the target of an ongoing critique by lawyers, philosophers, psychologists, social scientists, even economists since the late 1970s. While the critique did not seem to impede the development of the field, it certainly has helped it to become more sophisticated, inclusive, and mature. In this volume some of the leading scholars working in the field, as well as a number of those critical of Law and Economics, discuss the foundational issues from various perspectives: philosophical, moral, epistemological, methodological, psychological, political, legal, and social. The philosophical and methodological assumptions of the economic analysis of law are criticized and defended, alternatives are proposed, old and new applications are discussed. The book is ideal for a main or supplementary textbook in courses and seminars on legal theory, philosophy of law, jurisprudence, and (of course) Law and Economics.


Author :
Publisher : Elsevier
Release : 2018-09-27
Page : 748
Category : Business & Economics
ISBN 13 : 0444633898
Description :


Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics Written for those who wish to become quickly acquainted with behavioral economics


Author : David K. Levine
Publisher : Open Book Publishers
Release : 2012
Page : 152
Category : Business & Economics
ISBN 13 : 1906924929
Description :


In this book, David K. Levine questions the idea that behavioral economics is the answer to economic problems. He explores the successes and failures of contemporary economics both inside and outside the laboratory, and asks whether popular behavioral theories of psychological biases are solutions to the failures. The book not only provides an overview of popular behavioral theories and their history, but also gives the reader the tools for scrutinizing them.


Author : Julian Reiss
Publisher : Routledge
Release : 2013-07-15
Page : 352
Category : Philosophy
ISBN 13 : 1136763325
Description :


Philosophy of Economics: A Contemporary Introduction is the first systematic textbook in the philosophy of economics. It introduces the epistemological, metaphysical and ethical problems that arise in economics, and presents detailed discussions of the solutions that have been offered. Throughout, philosophical issues are illustrated by and analysed in the context of concrete cases drawn from contemporary economics, the history of economic ideas, and actual economic events. This demonstrates the relevance of philosophy of economics both for the science of economics and for the economy. This text will provide an excellent introduction to the philosophy of economics for students and interested general readers alike.


Author : Harold Kincaid
Don Ross
Publisher : Oxford Handbooks
Release : 2009-03-26
Page : 670
Category : Business & Economics
ISBN 13 : 0195189256
Description :


This volume is the first comprehensive, cohesive, and accessible reference source to the philosophy of economics, presenting important new scholarship by top scholars.


Author : Erik Angner
Publisher : Red Globe Press
Release : 2020-10-22
Page : 300
Category : Business & Economics
ISBN 13 : 9781352010800
Description :


This textbook looks at the theory of decisions and how we come to make them. What lies behind the choices and how we make them? Luck? Faith? Science? In this concise and reader-friendly textbook, Erik Angner clearly lays out the theory of behavioral economics and explains the intuitions behind it. This introductory text 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. This is 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 about this intriguing subject.


Author : Adam Smith (économiste)
Publisher :
Release : 1812
Page :
Category :
ISBN 13 :
Description :



Author : Luca Fiorito
Scott Scheall
Publisher : Emerald Group Publishing
Release : 2018-11-20
Page : 184
Category : Business & Economics
ISBN 13 : 1787564312
Description :


In addition to general research contributions, volume 36C features a symposium edited by Andrés Álvarez on monetary economics in post-independence Latin America. The symposium features contributions from Matías Vernengo and Esteban Pérez Caldentey, Ricardo Solis Rosales, Florencia Sember, and Edna Carolina Sastoque Ramírez.


Author : Robert Sugden
Publisher : Oxford University Press
Release : 2018-07-05
Page : 352
Category :
ISBN 13 : 0198825145
Description :


The Community of Advantage asks how economists should do normative analysis. The growing consensus in favour of paternalism and 'nudging' has urged normative analysis towards the satisfaction of individual's preferences. Its conclusions have supported a long-standing liberal tradition of economics that values economic freedom and views markets favourably. However, behavioural research shows that individuals' preferences, as revealed in choices, are often unstable, and vary according to contextual factors that seem irrelevant for welfare. Robert Sugden proposes a reformulation of normative economics that is compatible with what is now known about the psychology of choice. Reformulations that assume that people have well-defined 'latent' preferences which, because of psychologically-induced errors, are not always revealed in actual choices. According to these reformulations, the economist's job is to reconstruct latent preferences and to design policies to satisfy them. Challenging the controversial idea of using behavioural insights to guide public policy The Community of Advantage argues that latent preference and error are psychologically ungrounded concepts, and that economics needs to be more radical in giving up rationality assumptions. Sugden advocates a kind of normative economics that does not use the concept of preference. Its recommendations are addressed, not to an imagined 'social planner', but to citizens, viewed as potential parties to mutually beneficial agreements. Its normative criterion is the provision of opportunities for individuals to participate in voluntary transactions. Using this approach, Sugden reconstructs many of the normative conclusions of the liberal tradition. He argues that a well-functioning market economy is an institution that individuals have reason to value, whether or not their preferences satisfy conventional axioms of rationality, and that individuals' motivations in such an economy can be cooperative rather than self-interested.


Author : Daniel M. Hausman
Herbert a Simon and Hilldale Professor Daniel M Hausman
Publisher : Cambridge University Press
Release : 1992-01-31
Page : 372
Category : Business & Economics
ISBN 13 : 9780521425230
Description :


This book offers a comprehensive overview of the structure, strategy and methods of assessment of orthodox theoretical economics.


Author : Nicolas Brisset
Publisher : Routledge
Release : 2018-07-27
Page : 300
Category : Business & Economics
ISBN 13 : 1351620940
Description :


Economists do more than merely describe an external economic world. They shape it in the image of their theories and models. This idea, following the philosophy of language, puts forward that economic theories are performative, and not only descriptive. This idea has become a powerful critique of the scientificity of economics since it removes the idea of an external world against which our description could be evaluated as truth. If any theory can become true, there are no true theories per se because there is no such thing as a pre-existing economy to describe. Is such a relativist stance a fatality? This is the question at stake in this book. Furthermore, the author asks if any theory is able to ‘perform’ the social reality, or are there actually some limits to performativity? For philosophers, a performative statement is a statement that cannot fail to mean something, but can fail to do what it calls for. The state of the world may or may not be changed; the performative statement may be happy or unhappy. In economic terms, this can be interpreted as: some theories change the world while some do not. This book argues that this possibility of failure, a perspective previously missing from discussions on the subject, should be at the heart of any definition of failure. Taking on the question of why some theories change the world while others do not, this volume will be of interest to those studying advances courses on the philosophy of economics as well as those studying and researching in the areas of the philosophy of sciences and sociology of science and economics.


Author : Łukasz Hardt
Publisher : Springer
Release : 2017-09-22
Page : 220
Category : Business & Economics
ISBN 13 : 3319548611
Description :


This book offers a vision of economics in which there is no place for universal laws of nature, and even for laws of a more probabilistic character. The author avoids interpreting the practice of economics as something that leads to the formulation of universal laws or laws of nature. Instead, chapters in the book follow the method of contemporary philosophy of science: rather than formulating suggestions for practicing scientists of how they should do research, the text describes and interprets the very practice of scientific research. This approach demonstrates how economists can explain economic phenomena not by subsuming them under general laws, but rather by building models of these phenomena, by referring to causes, or even by investigating what is in the nature of given factors, events, or circumstances to produce.


Author : Maria Alejandra Madi
Publisher : Routledge
Release : 2019-06-21
Page : 108
Category : Business & Economics
ISBN 13 : 0429806469
Description :


The concept of "nudging" has hit news headlines in recent years following the implementation of nudge policies in many parts of the world, the establishment of behavioural policy units in some countries, and the award of the Nobel Prize in Economics to the behavioural economist Richard Thaler in 2017. However, questions remain about whether nudging is an optimal approach to policy-making. This book presents a critical approach to the study of nudging to highlight the foundations, rationale and effects of current policy-making trends in the neoliberal age of behavioural economics. In this provocative book, the author presents a re-examination of the methodological foundations of behavioural economics and its consequences for addressing the deep social and economic policy challenges of our times. It is argued that, although the concept of nudge proposed by Richard Thaler and Cass Sunstein rejects the theorization of economic behaviour under models of strict rationality, nudge policies focus on methodological individualism in economic thinking and economic policy. The complexity of social and economic policy problems of the twenty-first century calls for a revision of our conceptual outlooks, and to increase recognition of the failure of methodological individualism in economics to address the unprecedented social, political, and environmental challenges of globalization. Offering a new take on the epistemological assumptions underlying behaviourally-informed policies, this book will prompt the general public to consider new ideas about the darker side of behavioural economics.


Author : Kenneth W. Stikkers
Krzysztof Piotr Skowroński
Publisher : Routledge
Release : 2017-08-23
Page : 192
Category : Business & Economics
ISBN 13 : 1351687239
Description :


For over 2000 years, economics was studied in the West as a branch of ethics, or moral philosophy. Presently, though, few economists and no textbook in economic orthodoxy claim any close connection between economic science and philosophy. However, might the current ‘crises’ in economics, and in the economics profession have their deep roots in the separation of economics from philosophy and ethics? American pragmatism, among the various contemporary philosophic traditions, lends itself specially to dialogue with economics because of its view of philosophy as an instrument for solving the real, concrete problems of human life, both personal and social. The essays in this volume, drawing heavily on the tradition of pragmatism, suggest that the economic crises of our time (the 2008 collapse of real estate and finance markets) might not be merely technical in nature - that is, the result of faulty applications of economic tools by politicians and policy makers, based up conventional economic models - but also due to the faulty philosophical assumptions underlying those models. These essays suggest that the overcoming of our current economic crises requires that economists once again become moral philosophers, or that philosophers once again engage themselves in economic matters. In either case, this volume aims to foster dialogue between the two disciplines and in that way, contribute to the improvement of contemporary economic life. This book is suitable for those who study political economy, economic theory and economic philosophy.


Author : Carlos Mauro
Susana Cadilha
Publisher : Cambridge Scholars Pub
Release : 2013-07-01
Page : 175
Category : Philosophy
ISBN 13 : 9781443847889
Description :


This volume brings together leading scholars in the study of practical rationality and human action - namely, Alfred Mele, Hugh McCann, Michael Bratman, George Ainslie, Daniel Hausman and Joshua Knobe. They were interviewed by the editors in a project based at the Institute of Philosophy of the University of Porto structured around the questions: 1) In your view, what are the most central (or important) problems in the philosophy of action? 2) For some or all of the following - action, agency, agent - what do they contrast with most significantly? 3) Which of these are liable to be rational/irrational? 4) In what sense is the thing to do to be decided by what is rational? Are there limits of rationality? 5) What explains action, and how? What is the role of deliberation in rationality? 6) How is akrasia possible (if you think it is)? 7) How do you think your own work has contributed to the field? What are your plans for future research? The outcome is of great interest, not only for philosophers, but also for economists, psychologists, political scientists and sociologists.


Author : Michael Lewis
Publisher : W. W. Norton & Company
Release : 2016-12-06
Page : 320
Category : Science
ISBN 13 : 0393254607
Description :


“Brilliant. . . . Lewis has given us a spectacular account of two great men who faced up to uncertainty and the limits of human reason.” —William Easterly, Wall Street Journal Forty years ago, Israeli psychologists Daniel Kahneman and Amos Tversky wrote a series of breathtakingly original papers that invented the field of behavioral economics. One of the greatest partnerships in the history of science, Kahneman and Tversky’s extraordinary friendship incited a revolution in Big Data studies, advanced evidence-based medicine, led to a new approach to government regulation, and made much of Michael Lewis’s own work possible. In The Undoing Project, Lewis shows how their Nobel Prize–winning theory of the mind altered our perception of reality.