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Handbook of behavioural economics and smart decision making : rational decision making within the bounds of reason

Material type: TextTextPublication details: Cheltenham Edward Elgar 2019Description: 584pISBN: 9781782549581Subject(s): BEHAVIOURAL ECONOMICS | ECONOMICS- PSYCHOLOGICAL ASPECTS | DECISION MAKINGDDC classification: 330 HAN Summary: This handbook examines and addresses an important stream of research where the starting assumption is that decision-makers are, for the most part, relatively smart or rational. This approach contrasts with a theme running through much contemporary work in which individuals’ behaviour is deemed irrational, biased and error-prone, often due to how the brain is hardwired. In the smart people or bounded rationality approach, where errors or biases occur and when social dilemmas arise, often, improving the decision-making environment can repair these problems without hijacking or manipulating the preferences of individuals. The handbook covers a wide range of themes from micro to macro, including economic psychology, heuristics, fast and slow thinking, neuro-economics, experiments, the capabilities approach, institutional economics, methodology, nudging, ethics and public policy. It argues that neoclassical decision-making benchmarks are typically not the gold standard for best practice.
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Non-fiction 330 HAN (Browse shelf (Opens below)) Not for loan 3066

This handbook examines and addresses an important stream of research where the starting assumption is that decision-makers are, for the most part, relatively smart or rational. This approach contrasts with a theme running through much contemporary work in which individuals’ behaviour is deemed irrational, biased and error-prone, often due to how the brain is hardwired. In the smart people or bounded rationality approach, where errors or biases occur and when social dilemmas arise, often, improving the decision-making environment can repair these problems without hijacking or manipulating the preferences of individuals. The handbook covers a wide range of themes from micro to macro, including economic psychology, heuristics, fast and slow
thinking, neuro-economics, experiments, the capabilities approach, institutional economics, methodology, nudging, ethics and public policy. It argues that neoclassical decision-making benchmarks are typically not the gold standard for best practice.

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