Foundations of Behavioral Economic Analysis: Volume I: Behavioral Economics of Risk, Uncertainty, and Ambiguity

The Foundations of Behavioral Economic Analysis covers the behavioral economics of risk, uncertainty, and ambiguity, providing a concise and focused text for advanced undergraduate and postgraduate students. It examines how the decision-maker chooses his optimal action in the presence of these factors.

Format: Paperback / softback
Length: 400 pages
Publication date: 18 February 2019
Publisher: Oxford University Press

The Foundations of Behavioral Economic Analysis, a comprehensive introduction to the field, delves into the behavioral economics of risk, uncertainty, and ambiguity. This first volume serves as a vital guide for advanced undergraduate and postgraduate students seeking a concise and focused text on this crucial subject. It explores the decision-making process of individuals facing risk, uncertainty, and ambiguity, highlighting the factors that influence their optimal actions.

The book offers a comprehensive overview of the field, covering key concepts, theories, and applications. It begins by examining the nature of risk and uncertainty and their impact on decision-making. It then discusses various decision-making models, such as prospect theory, utility theory, and cognitive biases, and how they can be applied to understand human behavior in different economic situations.

Furthermore, the book discusses the role of emotions and social interactions in decision-making and how they can influence our choices and behaviors. It sheds light on the importance of behavioral economics in fields such as finance, marketing, and policy-making, and provides practical insights and strategies for individuals and organizations to improve their decision-making processes.

This updated extract from Dhami's renowned textbook offers readers the opportunity to delve into subsections of this vast and rapidly growing field. It allows them to tailor their reading to their specific interests in behavioral economics, making it an invaluable resource for students, researchers, and professionals alike.

In conclusion, The Foundations of Behavioral Economic Analysis provides a comprehensive and accessible introduction to the behavioral economics of risk, uncertainty, and ambiguity. It is an essential guide for advanced undergraduate and postgraduate students seeking to understand the decision-making processes that shape our lives and the world around us. By exploring the interplay between risk, uncertainty, and emotions, this book offers valuable insights and strategies for improving our decision-making abilities and achieving better outcomes in various economic and social contexts.

Weight: 768g
Dimension: 189 x 247 x 23 (mm)
ISBN-13: 9780198835608