Principles of behavioral economics : bringing together old, new and evolutionary approaches

This book is unique among modern contributions to behavioral economics in presenting a grand synthesis between the kind of behavioral economics popularized by Richard Thaler, earlier approaches such as those of the 1978 Nobel Laureate Herbert Simon, evolutionary psychology, and evolutionary economics from Veblen and Marshall through to neo-Schumpeterian thinking. The synthesis employs a complex adaptive systems approach to how people think, the lifestyles they build, and how new production technologies and products are gradually adopted and produce changes. Using a huge range of examples, it takes behavioral economics from its recent focus on 'nudging' consumers, to the behavior of firms and other organizations, the challenges of achieving structural change and transitioning to environmentally sustainable lifestyles, and instability of the financial system. This book will be of great interest to academics and graduate students who seek a broader view of what behavioral economics is and what it might become. -- Provided by publisher 03.0_pp_iv_iv_Copyright_page 2 04.0_pp_v_ix_Contents 6 05.0_pp_x_x_Figures 11 06.0_pp_xi_xii_Tables 12 07.0_pp_xiii_xix_Preface 14 08.0_pp_xx_xxii_Acknowledgments 21 09.0_pp_1_24_What_Is_Behavioral_Economics 24 10.0_pp_25_49_What_Motivates_Us 48 11.0_pp_50_80_Why_Is_Life_So_Full_of_Problems_for_Us_to_Try_to_Solve 73 12.0_pp_81_118_How_Do_We_Acknowledge_Problems_and_Assess_Options 104 13.0_pp_119_145_How_Do_We_Deal_with_Uncertainty_and_Ambiguity 142 14.0_pp_146_178_How_Do_We_Search_for_Solutions_to_Problems 169 15.0_pp_179_219_Why_Do_Some_Things_Matter_More_Than_Others 202 16.0_pp_220_263_How_Do_We_Choose 243 17.0_pp_264_294_How_Can_Firms_and_Governments_Influence_Our_Choices 287 18.0_pp_295_338_What_Determines_the_Productivity_of_an_Organization 318 19.0_pp_339_387_How_Does_the_Competitive_Process_Work 362 20.0_pp_388_429_Are_There_Any_Behavioral_Insights_for_Macroeconomists 411 21.0_pp_430_469_Can_We_Be_Happy_without_Destroying_the_Environment 453 22.0_pp_470_498_References 493 23.0_pp_499_518_Index 522