The Beginnings of Behavioral Economics
  • Author : Roger Frantz
  • Release Date : 05 October 2019
  • Publisher : Academic Press
  • Genre : Business & Economics
  • Pages : 258
  • ISBN 13 : 9780128157053

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Book excerpt: The Beginnings of Behavioral Economics: Katona, Simon, and Leibenstein's X-Efficiency Theory explores the mid-20th century roots of behavioral economics, placing the origin of this now-dominant approach to economic theory many years before the groundbreaking 1979 work on prospect theory by Daniel Kahneman and Amos Tversky. It discusses the work of Harvey Leibenstein, Herbert Simon, George Katona, and Frederick Hayek, reintroducing their contributions as founding pillars of the behavioral approach. It concentrates on the work of Leibenstein, reviewing his nuanced introduction of X-efficiency theory. Building from these foundations, the work explores the body of empirical research on market power and firm behavior – XE relationship. This book is a tremendous resource for graduate students and early career researchers in behavioral economics, experimental economics, organizational economics, social and organizational psychology, labor market economics and public policy. Reviews the powerful, but neglected contributions of mid-20th century scholars, like Leibenstein and Katona in building the roots of behavioral economic theory Amalgamates and reviews 50 years of empirical research and over 200 empirical papers on X-efficiency theory Establishes how X-efficiency can aid modern behavioral economics in further developing firm theory and understanding efficiency wages

The Beginnings of Behavioral Economics

The Beginnings of Behavioral Economics

Author : Roger Frantz
Publisher : Academic Press
Genre : Business & Economics
Get Book

The Beginnings of Behavioral Economics: Katona, Simon, and Leibenstein's X-Efficiency Theory explores the mid-20th century roots of behavioral economics, placing the origin of this now-dominant approach to economic theory many years before the groundbreaking 1979 work on prospect theory by Daniel Kahneman and Amos Tversky. It discusses the work of ...

The Beginnings of Behavioral Economics

The Beginnings of Behavioral Economics

Author : Roger Frantz
Publisher : Academic Press
Genre : Economic development
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The Beginnings of Behavioral Economics: Katona, Simon, and Leibenstein's X-Efficiency Theory explores the mid-20th century roots of behavioral economics, placing the origin of this now-dominant approach to economic theory many years before the groundbreaking 1979 work on prospect theory by Daniel Kahneman and Amos Tversky. It discusses the work of ...

Behavioral Economics

Behavioral Economics

Author : Floris Heukelom
Publisher : Cambridge University Press
Genre : Business & Economics
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"In economics, the market has been understood to steer behavior towards a competitive equilibrium in which all economic actors behave optimally, and in which welfare of society is maximized. Yet many economists have also seen shortcomings to this ideal picture of the market in the form of limited information, too ...

Behavioural Economics

Behavioural Economics

Author : Michelle Baddeley
Publisher : Oxford University Press
Genre : Business & Economics
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Traditionally economists have based their economic predictions on the assumption that humans are super-rational creatures, using the information we are given efficiently and generally making selfish decisions that work well for us as individuals. Economists also assume that we're doing thevery best we can possibly do - not only for ...

Misbehaving  The Making of Behavioral Economics

Misbehaving The Making of Behavioral Economics

Author : Richard H. Thaler
Publisher : W. W. Norton & Company
Genre : Business & Economics
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Winner of the Nobel Prize in Economics Get ready to change the way you think about economics. Nobel laureate Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans—predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of ...

Behavioral Economics

Behavioral Economics

Author : Brandon Lehr
Publisher : Routledge
Genre : Business & Economics
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Behavioral Economics: Evidence, Theory, and Welfare provides an engaging and accessible introduction to the motivating questions, real-world evidence, theoretical models, and welfare implications of behavioral economics concepts. Applications and examples — from household decisions, finance, public finance, labor, business, health, development, politics, education, energy, and sports — illustrate the broad relevance of ...

Routledge Handbook of Behavioral Economics

Routledge Handbook of Behavioral Economics

Author : Roger Frantz,Shu-Heng Chen,Kurt Dopfer,Floris Heukelom,Shabnam Mousavi
Publisher : Routledge
Genre : Business & Economics
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There is no doubt that behavioral economics is becoming a dominant lens through which we think about economics. Behavioral economics is not a single school of thought but representative of a range of approaches, and uniquely, this volume presents an overview of them. The wide spectrum of international contributors each ...

Behavioral Economics For Dummies

Behavioral Economics For Dummies

Author : Morris Altman
Publisher : John Wiley & Sons
Genre : Business & Economics
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A guide to the study of how and why you really make financial decisions While classical economics is based on the notion that people act with rational self-interest, many key money decisions—like splurging on an expensive watch—can seem far from rational. The field of behavioral economics sheds light ...

Is Behavioral Economics Doomed

Is Behavioral Economics Doomed

Author : David K. Levine
Publisher : Open Book Publishers
Genre : Business & Economics
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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 ...

Behavioral Economics

Behavioral Economics

Author : Philip J. Corr,Anke C. Plagnol
Publisher : Unknown
Genre : Consumer behavior
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What is behavioral economics and why is it important? -- The ascent and dissent of economics -- Econ: homo economicus -- Human: more homer (simpson) than homo economicus -- Manners, monkeys and moods -- Nudge: whys, ways and weasels -- Sell! the commercial (and political) world of persuasion...

Psychology and Behavioral Economics

Psychology and Behavioral Economics

Author : Kai Ruggeri
Publisher : Routledge
Genre : Business & Economics
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Psychology and Behavioral Economics offers an expert introduction to how psychology can be applied to a range of public policy areas. It examines the impact of psychological research for public policymaking in economic, financial, and consumer sectors; in education, healthcare, and the workplace; for energy and the environment; and in ...

Behavioral Economics

Behavioral Economics

Author : Edward Cartwright
Publisher : Routledge
Genre : Business & Economics
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Over the last few decades behavioral economics has revolutionized the discipline. It has done so by putting the human back into economics, by recognizing that people sometimes make mistakes, care about others and are generally not as cold and calculating as economists have traditionally assumed. The results have been exciting ...

An Introduction to Behavioral Economics

An Introduction to Behavioral Economics

Author : Nick Wilkinson,Matthias Klaes
Publisher : Bloomsbury Publishing
Genre : Business & Economics
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The third edition of this successful textbook is a comprehensive, rigorous survey of the major topics in the field of behavioral economics. Building on the strengths of the second edition, it offers an up-to-date and critical examination of the latest literature, research, developments and debates in the field. Offering an ...

Dishonesty in Behavioral Economics

Dishonesty in Behavioral Economics

Author : Alessandro Bucciol,Natalia Montinari
Publisher : Academic Press
Genre : Business & Economics
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Dishonesty in Behavioral Economics provides a rigorous and comprehensive overview of dishonesty, presenting state-of-the-art research that adopts a behavioral economics perspective. Throughout the volume, contributors emphasize the effects of psychological, social, and cognitive factors on the decision-making process. In contrast to related titles, Dishonesty in Behavioral Economics emphasizes the importance ...