Behavioral Economics: The Basics

Behavioral Economics: The Basics provides a rigorous yet accessible overview of the field, highlighting how it uses insights from psychology to explain real-world economic behavior and influence choices. It contrasts the neoclassical economic perspective with a more realistic perspective and is relevant to students, professionals, and anyone interested in understanding how behavioral insights shape their lives.

Format: Paperback / softback
Length: 256 pages
Publication date: 31 March 2023
Publisher: Taylor & Francis Ltd

Behavioral Economics: The Basics, the second edition, serves as a comprehensive summary of behavioral economics, which employs insights from psychology to explain real-world economic behavior. These insights are not only utilized to understand human choices but also to influence them, whether the objective is to enhance citizens' well-being and wealth or to convert browsers into buyers.

Throughout, the book has been revised and updated with fresh examples from current events, ensuring its relevance and accessibility. It provides a rigorous yet approachable overview of the field, aimed at uncovering the psychological processes that mediate our economic judgments and decisions.

Behavioral economics draws from various philosophical, political, and moral ideas, and in essence, it represents a modern expression of long-standing critiques of mainstream economics. It contrasts the neoclassical economic perspective (ECON) with a more realistic perspective known as HUMAN, which represents the flesh-and-blood economic agent who is not perfect but strives to make the best choices under limitations and constraints.

This comprehensive overview of the field covers all major areas, presented in a rigorous yet accessible manner. It is particularly appealing to students, individuals interested in applying behavioral economic knowledge in their professional lives, and anyone seeking to understand how behavioral insights influence their daily lives, often going unnoticed.

By delving into the psychological drivers behind economic behavior, behavioral economics offers valuable insights into how individuals make decisions, perceive risks, and respond to incentives. It sheds light on the biases and heuristics that shape our choices, helping us to understand why people may act in ways that defy conventional economic theories.

Furthermore, behavioral economics has practical applications in various fields, including marketing, finance, healthcare, and public policy. By understanding the factors that influence consumer behavior, businesses can develop more effective marketing strategies, optimize financial decisions, improve healthcare outcomes, and design policies that promote social welfare.

In conclusion, Behavioral Economics: The Basics provides a comprehensive and accessible introduction to the field of behavioral economics, offering valuable insights into the psychological processes that shape economic behavior. Whether you are a student, professional, or simply interested in understanding how you are influenced by behavioral insights, this book is a valuable resource for expanding your knowledge and understanding of the world around you.

Weight: 453g
Dimension: 198 x 129 (mm)
ISBN-13: 9780367764326
Edition number: 2 ed