Behavioural economics Books

Book SynopsisThe book outlines a practical approach to shopper marketing in order to grow both revenue and brand equity. A story runs through the book in the first part of each chapter, so that it is easier to connect the theory and tools in the second part of each chapter, with a real-world scenario.The book follows the story of the Big Beverage Company, who receive a call from their biggest customer one afternoon asking for their help in getting the coffee category growing again.This sets the Big Beverage Company and their management team on a journey from being a brand-focused business, to one that understands how a broader emphasis on the category and its shoppers can lead to greater growth for themselves and their retail partners.The book contains over 300 industry and academic references as well as numerous examples from the author’s own experience.

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Book SynopsisPowerful Brand Positioning Harnesses Key Building BlocksBrand Positioning with Power: Maximizing Your Marketing Impact is a new take on Al Ries and Jack Trout's original positioning concept. The book delivers measurable results because it: Is remarkably easy to use Uses a proven, systematic positioning process Leverages exciting, practical real-world examples You'll see how the three essential building blocks of positioning lead organically to increased success, whether you are a sole proprietor or a Fortune 500 organization.Written in an enthusiastic, concise, and conversational style, Brand Positioning with Power offers ground-breaking insights, including the vital role emotion plays in effective positioning. This is the tool you need today to take your brand from where you are to where you want to go.Trade Review“Whether you are an experienced marketer or a novice, Robert Gordon's Brand Positioning with Power: Maximizing Your Marketing Impact is a must read. Gordon delivers a contemporary and meaningful guide to how positioning can act as a business's 'North Star.' He expertly provides a comprehensive framework for applying his concepts and shows, in detail, why positioning is one of the most important elements of the marketing and branding process.” - Barry Silverman, PhD (candidate), Brand Marketer and Adjunct Professor, Branding and Integrated Communications, Program, City College of New York“In Brand Positioning with Power: Maximizing Your Marketing Impact, Robert Gordon explains, step-by-step, why it's so important to position your brand. And he tells you how to do it! Other books tell you the why but not the how. Gordon gets right to the point, using a conversational style. He gives real-world examples showing both the steps in the process and what the outcome should be. Countless companies need to use what he is laying out here to better market their services.” - Tim Brown, Digital Marketing and Data Management Executive

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Book SynopsisConsumer behavior refers to the actions and decisions made by individuals and households when purchasing goods and services. This book explores how consumers make decisions when purchasing goods or services. It delves into the psychological, social, and cultural factors that influence consumer behavior, such as perception, learning, motivation, and attitudes. It presents real-life case studies and examples to illustrate how different factors can affect consumer decision-making. The book provides insights into how businesses can better understand and influence consumer behavior to improve their marketing efforts and achieve success.Table of Contents Chapter 1 Introduction to Consumer Behavior Chapter 2 Consumer Culture and Influences on Consumer Behavior Chapter 3 Consumer Perception, Motivation, and Attitude Chapter 4 Consumer Behavior Research Chapter 5 Consumer Buying Behavior Process Chapter 6 Consumer Decision Making Chapter 7 Consumer Behavior Outcomes and Issues

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Book SynopsisThis invaluable volume brings together seminal articles with a significant behavioural content on various areas in macroeconomics. The topics covered include a historical perspective on psychology and economics, social norms and macroeconomics, the nature of unemployment, unemployment and inflation, consumption and saving, the causes of the global financial crisis, economic growth and happiness and income distribution and the underclass. The collection also covers a broad range of the theories and methods used in behavioural economics. The comprehensive volume, with an original introduction by the editor, will be an essential compendium for researchers and students interested in behavioural economics.Trade Review'I only wish that Ian McDonald's Behavioural Macroeconomics had been available when I was preparing A Guide to Behavioral Economics; it certainly would have provided me with material to fill in a number of gaps and cite several additional important concerns!' -- Hugh Schwartz, University of the Republic, UruguayTable of ContentsContents: Acknowledgements Introduction Ian M. McDonald PART I PSYCHOLOGY AND ECONOMICS – A HISTORICAL PERSPECTIVE 1. Luigino Bruni and Robert Sugden (2007), ‘The Road Not Taken: How Psychology was Removed from Economics, and How it Might be Brought Back’ PART II SOCIAL NORMS AND MACROECONOMICS 2. George A. Akerlof (2007), ‘The Missing Motivation in Macroeconomics’ PART III THE NATURE OF UNEMPLOYMENT 3. Andrew E. Clark and Andrew J. Oswald (1994), ‘Unhappiness and Unemployment’ 4. M. Daniele Paserman (2008), ‘Job Search and Hyperbolic Discounting: Structural Estimation and Policy Evaluation’ PART IV SOME IMPLICATIONS OF EQUITY FOR UNEMPLOYMENT AND INFLATION 5. George A. Akerlof and Janet L. Yellen (1990), ‘The Fair Wage-Effort Hypothesis and Unemployment’ 6. Truman F. Bewley (1995), ‘A Depressed Labor Market as Explained by Participants’ 7. Ernst Fehr and Armin Falk (1999), ‘Wage Rigidity in a Competitive Incomplete Contract Market’ 8. Ernst Fehr and Georg Kirchsteiger (1994), ‘Insider Power, Wage Discrimination and Fairness’ 9. Lawrence H. Summers (1988), ‘Relative Wages, Efficiency Wages and Keynesian Unemployment’ Part V SOME IMPLICATIONS OF LOSS AVERSION FOR UNEMPLOYMENT AND INFLATION 10. V. Bhaskar (1990), ‘Wage Relativities and the Natural Range of Unemployment’ 11. Hugh Sibly (2002), ‘Loss Averse Customers and Price Inflexibility’ 12. Ian M. McDonald and Hugh Sibly (2005), ‘The Diamond of Macroeconomic Equilibria and the Non-Inflationary Expansion’ 13. J.N. Nye, I.M. McDonald and H. Sibly (2001), ‘An Estimate of the Range of Equilibrium Rates of Unemployment for Australia’ 14. John C. Driscoll and Steinar Holden (2004), ‘Fairness and Inflation Persistence’ PART VI UNEMPLOYMENT AND INFLATION IN THE SOCIAL WELFARE FUNCTION 15. Rafael Di Tella, Robert J. MacCulloch and Andrew J. Oswald (2001), ‘Preferences Over Inflation and Unemployment: Evidence from Surveys of Happiness’ PART VII CONSUMPTION AND SAVING 16. Richard H. Thaler and Shlomo Bernatzi (2004), ‘Save More Tomorrow™: Using Behavioural Economics to Increase Employee Saving’ 17. David Bowman, Deborah Minehart and Matthew Rabin (1999), ‘Loss Aversion in a Consumption-savings Model’ 18. Isabelle Brocas and Juan D. Carrillo (2008), ‘The Brain as a Hierarchical Organization’ PART VIII THE GLOBAL FINANCIAL CRISIS 19. Ian M. McDonald (2009), ‘The Global Financial Crisis and Behavioural Economics’ PART IX ECONOMIC GROWTH AND HAPPINESS 20. David G. Blanchflower and Andrew J. Oswald (2004), ‘Well-being Over Time in Britain and the USA’ 21. Bruno S. Frey and Alois Stutzer (2002), ‘What Can Economists Learn from Happiness Research?’ 22. B. Curtis Eaton and Mukesh Eswaran (2009), ‘Well-being and Affluence in the Presence of a Veblen Good’ 23. Jonathan D. Cohen (2005), ‘The Vulcanisation of the Human Brain: A Neural Perspective on Interactions Between Cognition and Emotion’ PART X INCOME DISTRIBUTION AND THE UNDERCLASS 24. Robert J. Oxoby (2004), ‘Cognitive Dissonance, Status and Growth of the Underclass’

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Book SynopsisThe first edition of this unique Handbook was praised for its substantial and invaluable summary discussions of work by anthropologists on economic processes and issues, on the relationship between economic and non-economic areas of life and on the conceptual orientations that are important among economic anthropologists. This thoroughly revised edition brings those discussions up to date, and includes an important new section exploring ways that leading anthropologists have approached the current economic crisis. Its scope and accessibility make it useful both to those who are interested in a particular topic and to those who want to see the breadth and fruitfulness of an anthropological study of economy.This comprehensive Handbook will strongly appeal to undergraduate and post-graduate students in anthropology, economists interested in social and cultural dimensions of economic life, and alternative approaches to economic life, political economists, political scientists and historians.Contributors: C. Alexander, K. Applbaum, M. Blim, M. Busse, J.G. Carrier, M.A. Chen, S. Coleman, R. Colloredo-Mansfeld, E.P. Durrenberger, J.S. Eades, T.H. Eriksen, S. Gudeman, J.I. Guyer, M. Harris, J. Harriss, K. Hart, E. Hirsch, R.C. Hunt, B.L. Isaac, D. Kalb, D. Lewis, P. Luetchford, B. Maurer, E. Mayer, S. Narotzky, H. Ortiz, S. Ortiz, J. Parry, T.C. Patterson, D. Robotham, T. Roopnaraine, M. aul, V. Siniscalchi, P.J. Stewart, M. Stivens, A. Strathern, O. Visser, Y. YanTrade ReviewThis excellent overview would serve as an excellent text for advanced undergraduate and graduate-level classroom use... Because of the clarity, conciseness, and accessibility of the writing, the chapters in this volume likely will be often cited and recommended to those who want the alternative and frequently culturally comparative perspective on economic topics that anthropology provides. Highly recommended. All academic levels/libraries. --K.F. Rambo, ChoiceAcclaim for the first edition:The volume is a remarkable contribution to economic anthropology and will no doubt be a fundamental tool for students, scholars, and experts in the sub-discipline. --Mao Mollona, Journal of the Royal Anthropological InstituteTable of ContentsContents: Preface Introduction James G. Carrier PART I: ORIENTATIONS 1. Karl Polanyi Barry L. Isaac 2. Anthropology, Political Economy and World-System Theory J.S. Eades 3. Political Economy Don Robotham 4. Decisions and Choices: The Rationality of Economic Actors Sutti Oritz 5. Provisioning Susana Narotzky 6. Community and Economy: Economy’s Base Stephen Gudeman PART II: ELEMENTS 7. Property Mark Busse 8. Labour E. Paul Durrenberger 9. Industrial Work Jonathan Parry 10. Money in Twentieth-century Anthropology Keith Hart 11. Finance 2.0 Bill Maurer 12. Distribution and Redistribution Thomas C. Patterson 13. Consumption Rudi Colloredo-Mansfeld PART III: CIRCULATION 14. Ceremonial Exchange: Debates and Comparisons Andrew Strathern and Pamela J. Stewart 15. Markets: Places, Principles and Integrations Kalman Applbaum 16. The Gift and Gift Economy Yunxiang Yan 17. One-way Economic Transfers Robert C. Hunt PART IV: INTEGRATIONS 18. Gender Maila Stivens 19. Environment and Economy Eric Hirsch 20. Culture and Economy Michael Blim 21. Economy and Religion Simon Coleman 22. Economies of Ethnicity Thomas Hylland Eriksen PART V: ISSUES 23. Economic Anthropology and Ethics Peter Luetchford 24. Households and their Markets in the Andes Enrique Mayer 25. Peasants Mark Harris 26. Economic Valuations and Environmental Policy Catherine Alexander 27. Anthropology and Development: The Uneasy Relationship David Lewis 28. The Informal Economy in Comparative Perspective Martha Alter Chen PART VI: REGIONS 29. South America Terry Roopnaraine 30. Africa South of the Sahara Mahir Şaul 31. South Asia John Harriss 32. East Asia J.S. Eades 33. Towards an Economic Anthropology of Europe Valeria Siniscalchi PART VII: THE CRISIS 34. Oligarchy and State Capture: Soviet-style Mechanisms in Contemporary Finance Capitalism Don Kalb and Oane Visser 35. Anthropology – of the Financial Crisis Horacio Ortiz 36. Economic Crisis, 2008: What Happened, What Can be Learned About How and Why, What Could Happen Next Michael Blim 37. Terms of Debate versus Words in Circulation: Some Rhetorics of the Crisis Jane I. Guyer 38. The Financial Crisis and the History of Money Keith Hart Index

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Book SynopsisWhat makes people happy in life? This crucial question has the potential to shake up economics. In recent years, dissatisfaction with the understanding of welfare in economics and new opportunities for empirical study of people's subjective well-being have spurred impressive and stimulating new research into the 'dismal' science, resulting in increased interest in the economics of happiness. Professor Frey and Professor Stutzer have selected contributions by leading scholars which offer a wide-ranging overview of recent developments. These include an exploration of the economic determinants of happiness, the importance of social capital and health for well-being and the new life satisfaction approach to valuing public goods. Work on utility misprediction and adaptation challenges the existing fundamentals of economics, and the role of happiness research in public policy is investigated from different perspectives.Table of ContentsContents: Acknowledgements Introduction Recent Developments in the Economics of Happiness: A Select Overview Alois Stutzer and Bruno S. Frey PART I MAJOR CONTRIBUTIONS: REVIEWS OF THE NEW APPROACH 1. Bruno S. Frey and Alois Stutzer (2002), ‘What Can Economists Learn from Happiness Research?’ 2. Daniel Kahneman and Alan B. Krueger (2006), ‘Developments in the Measurement of Subjective Well-Being’ 3. Mark Kelman (2005), ‘Hedonic Psychology and the Ambiguities of “Welfare”’ PART II ECONOMIC DETERMINANTS OF SUBJECTIVE WELL-BEING 4. Andrew E. Clark, Paul Frijters and Michael A. Shields (2008), ‘Relative Income, Happiness, and Utility: An Explanation for the Easterlin Paradox and Other Puzzles’ 5. Betsey Stevenson and Justin Wolfers (2008), ‘Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox’ 6. Richard A. Easterlin, Laura Angelescu McVey, Malgorzata Switek, Onnicha Sawangfa and Jacqueline Smith Zweig (2010), ‘The Happiness-Income Paradox Revisited’ 7. Erzo F.P. Luttmer (2005), ‘Neighbors as Negatives: Relative Earnings and Well-Being’ 8. Alois Stutzer (2004), ‘The Role of Income Aspirations in Individual Happiness’ 9. Rafael Di Tella, Robert J. MacCulloch and Andrew J. Oswald (2003), ‘The Macroeconomics of Happiness’ PART III SOCIAL CAPITAL AND HEALTH 10. John F. Helliwell and Robert D. Putnam (2004), ‘The Social Context of Well-Being’ 11. Leonardo Becchetti, Alessandra Pelloni and Fiammetta Rossetti (2008), ‘Relational Goods, Sociability, and Happiness’ 12. Angus Deaton (2008), ‘Income, Health, and Well-being Around the World: Evidence from the Gallup World Poll’ PART IV VALUING PUBLIC GOODS: THE LIFE SATISFACTION APPROACH 13. Bernard M.S. van Praag and Barbara E. Baarsma (2005), ‘Using Happiness Surveys to Value Intangibles: The Case of Airport Noise’ 14. Simon Luechinger (2009), ‘Valuing Air Quality Using the Life Satisfaction Approach’ PART V UTILITY MISPREDICTION AND ADAPTATION 15. Daniel Kahneman and Richard H. Thaler (2006), ‘Anomalies: Utility Maximization and Experienced Utility’ 16. Andrew E. Clark, Ed Diener, Yannis Georgellis and Richard E. Lucas (2008), ‘Lags and Leads in Life Satisfaction: A Test of the Baseline Hypothesis’ 17. Luis Rayo and Gary S. Becker (2007), ‘Evolutionary Efficiency and Happiness’ PART VI PUBLIC POLICY 18. Richard Layard (2006), ‘Happiness and Public Policy: A Challenge to the Profession’ 19. Bruno S. Frey and Alois Stutzer (2012), ‘The Use of Happiness Research for Public Policy’

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Book SynopsisChanging Behaviours charts the emergence of the behavior change agenda in UK based public policy making since the late 1990s.By tracing the influence of the behavioural sciences on Whitehall policy makers, the authors explore a new psychological orthodoxy in the practices of governing. Drawing on original empirical material, chapters examine the impact of behavior change policies in the fields of health, personal finance and the environment. This topical and insightful book analyses how the nature of the human subject itself is re-imagined through behavior change, and develops an analytical framework for evaluating the ethics, efficacy and potential empowerment of behavior change.This unique book will be of interest to advanced undergraduates, postgraduates and academics in a range of different disciplines. In particular, its inter-disciplinary focus on key themes in the social sciences - the state, citizenship, the meaning and scope of government - will make it essential reading for students of political science, sociology, anthropology, geography, policy studies and public administration. In addition, the book s focus on the practical use of psychological and behavioral insights by politicians and policy makers should lead to considerable interest in psychology and behavioural economics.Contents: Preface 1. Changing Behaviours and 'New Models of Man' 2. The Rise of the Psychological State in the UK 3. In the Heat of the Moment: Gambling and Saving Behaviours 4. Replanning the Street: Changing Behaviours by Spatial Design 5. Governing the Body: Addressing the Temptations of Food and Alcohol 6. Greening the Brain: The Pro-Environmental Behaviour Change Agenda Conclusion: Nudge, Think, Steer, Punch! Searching for the Real Third Way References IndexTrade Review'This volume is well-written and engaging from the start and is based on a detailed analysis of policy making (although international examples are drawn upon). . . I highly recommend this readable and well-informed book to all those interested in policy making and the influence of psychology.' --Alan Lewis, Journal of Economic Psychology'This groundbreaking book provides a meticulously-researched history of the rise of a new state that aims to govern people by changing their behaviour through influencing (or at least claiming to influence) their psyche. With examples from finance, transport, health and environment, it also illustrates the struggles of citizens who fight against this new agenda of government. The book shows how deeply the psyche has become a different site of power and hence a different object of knowledge over the last two or three decades.' --Engin Isin, the Open University, UK'A really interesting and engaging account of the ways that diverse and contradictory ideas from psychology, neuroscience and economics have influenced successive behaviour-change projects across UK public policy since the early 2000s. Apparently we lead the world in all this, and 51 other countries are now following in Britain's wake.' --Professer Kathryn Ecclestone, Times Higher EducationTable of ContentsContents: Preface 1. Changing Behaviours and ‘New Models of Man’ 2. The Rise of the Psychological State in the UK 3. In the Heat of the Moment: Gambling and Saving Behaviours 4. Replanning the Street: Changing Behaviours by Spatial Design 5. Governing the Body: Addressing the Temptations of Food and Alcohol 6. Greening the Brain: The Pro-Environmental Behaviour Change Agenda Conclusion: Nudge, Think, Steer, Punch! Searching for the Real Third Way References Index

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Book SynopsisFor most of the 20th century economists focused on competition as the driving force of the modern capitalist economy. In his thoughtful and readable book, Roger A. McCain offers a different frame of reference for economists. Using game theory's distinction between cooperative and non-cooperative games, he defines economics as the study of the development of cooperative agreements in the economy and the failure to bring them about. Orthodox economists who think in terms of a competitive model and heterodox economists who adhere to a class conflict paradigm will both find their ideas challenged by McCain's new frame that sees mature capitalism as the result of class compromise based on an imperfectly cooperative game.'- Donald R. Stabile, St. Mary s College of Maryland, USThe objectives of this book are twofold. Firstly, it proposes that economics should be defined as a study of imperfect cooperation. Secondly, it elucidates the continuities that extend from classical political economy through the neoclassical, Keynesian, and modern economics of the twenty-first century.Roger McCain explores economics as the study of cooperative arrangements, or the ways in which people work together. He asserts that there is no 'new paradigm', but rather a more encompassing cognitive frame. In the same spirit, the book borrows freely, without doctrinarism, from Austrian and other heterodox traditions - including Marxism where it is helpful - and social philosophers in the social contract tradition. Game theory of both branches plays a key role throughout.Presenting an innovative new framework for the major topics that together make up economic theory, this highly accessible book will strongly appeal to economics scholars, researchers and students, especially those in the fields of heterodox economics and the history of economic thought.Contents: 1. Introduction Part I: How People Work Together 2. Production: The Benefit of Working Together 3. Game Theory: Problems of Working Together 4. Exchange: How Difference Enriches Us 5. Further Benefits of Working Together: Sharing Risk Part II: Information is Not Free 6. Information is Not Free 7. Governance 8. A Grand Coalition of the Whole Society 9. Macroeconomics 10. Political Economy IndexTrade Review‘For most of the 20th century economists focused on competition as the driving force of the modern capitalist economy. In his thoughtful and readable book, Roger A. McCain offers a different frame of reference for economists. Using game theory’s distinction between cooperative and non-cooperative games, he defines economics as the study of the development of cooperative agreements in the economy and the failure to bring them about. Orthodox economists who think in terms of a competitive model and heterodox economists who adhere to a class conflict paradigm will both find their ideas challenged by McCain’s new frame that sees mature capitalism as the result of class compromise based on an imperfectly cooperative game.’ -- Donald R. Stabile, St. Mary’s College of Maryland, USTable of ContentsContents: 1. Introduction Part I: How People Work Together 2. Production: The Benefit of Working Together 3. Game Theory: Problems of Working Together 4. Exchange: How Difference Enriches Us 5. Further Benefits of Working Together: Sharing Risk Part II: Information is Not Free 6. Information is Not Free 7. Governance 8. A Grand Coalition of the Whole Society 9. Macroeconomics 10. Political Economy Index

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Book SynopsisFor most of the 20th century economists focused on competition as the driving force of the modern capitalist economy. In his thoughtful and readable book, Roger A. McCain offers a different frame of reference for economists. Using game theory's distinction between cooperative and non-cooperative games, he defines economics as the study of the development of cooperative agreements in the economy and the failure to bring them about. Orthodox economists who think in terms of a competitive model and heterodox economists who adhere to a class conflict paradigm will both find their ideas challenged by McCain's new frame that sees mature capitalism as the result of class compromise based on an imperfectly cooperative game.'- Donald R. Stabile, St. Mary s College of Maryland, USThe objectives of this book are twofold. Firstly, it proposes that economics should be defined as a study of imperfect cooperation. Secondly, it elucidates the continuities that extend from classical political economy through the neoclassical, Keynesian, and modern economics of the twenty-first century.Roger McCain explores economics as the study of cooperative arrangements, or the ways in which people work together. He asserts that there is no 'new paradigm', but rather a more encompassing cognitive frame. In the same spirit, the book borrows freely, without doctrinarism, from Austrian and other heterodox traditions - including Marxism where it is helpful - and social philosophers in the social contract tradition. Game theory of both branches plays a key role throughout.Presenting an innovative new framework for the major topics that together make up economic theory, this highly accessible book will strongly appeal to economics scholars, researchers and students, especially those in the fields of heterodox economics and the history of economic thought.Contents: 1. Introduction Part I: How People Work Together 2. Production: The Benefit of Working Together 3. Game Theory: Problems of Working Together 4. Exchange: How Difference Enriches Us 5. Further Benefits of Working Together: Sharing Risk Part II: Information is Not Free 6. Information is Not Free 7. Governance 8. A Grand Coalition of the Whole Society 9. Macroeconomics 10. Political Economy IndexTrade Review‘For most of the 20th century economists focused on competition as the driving force of the modern capitalist economy. In his thoughtful and readable book, Roger A. McCain offers a different frame of reference for economists. Using game theory’s distinction between cooperative and non-cooperative games, he defines economics as the study of the development of cooperative agreements in the economy and the failure to bring them about. Orthodox economists who think in terms of a competitive model and heterodox economists who adhere to a class conflict paradigm will both find their ideas challenged by McCain’s new frame that sees mature capitalism as the result of class compromise based on an imperfectly cooperative game.’ -- Donald R. Stabile, St. Mary’s College of Maryland, USTable of ContentsContents: 1. Introduction Part I: How People Work Together 2. Production: The Benefit of Working Together 3. Game Theory: Problems of Working Together 4. Exchange: How Difference Enriches Us 5. Further Benefits of Working Together: Sharing Risk Part II: Information is Not Free 6. Information is Not Free 7. Governance 8. A Grand Coalition of the Whole Society 9. Macroeconomics 10. Political Economy Index

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Book SynopsisPonzi schemes are a particularly vicious form of financial fraud, in that the overly trusting victims, who are often wiped out, typically share an affiliation with the fraudster. They are interesting, in that they share some features with legitimate financial phenomena (such as stock manias) and shed light on the human tendency towards behaving foolishly, especially when encouraged or modeled by others. In Understanding Ponzi Schemes, Mervyn Lewis has written what is probably the best and most comprehensive book on the topic. Extremely readable, this book uses both theoretical models and real-life case studies to provide readers with an answer to two questions: 'How do Ponzi schemes work and why are they successful?' Lewis also provides useful answers to a third question: 'What can regulators and individuals do to be protected from future incarnations of Charles Ponzi?'''- Stephen Greenspan, University of Connecticut, US and author of Annals of Gullibility'Starting with very readable (and well-referenced) accounts of various Ponzi fraudsters from Ponzi himself through to Madoff and Stanford, lessons are drawn from such diverse disciplines such as psychology and statistical analysis to advocate novel approaches to the regulation of Ponzi schemes. A 'must read' for regulatory policy-makers and a fascinating read for the general reader, Professor Lewis is to be congratulated for advancing the debate on this age-old phenomenon by suggesting distinctive and innovative strategies to tackle it.'- Eva Lomnicka, Dickson Poon School of Law, King's College London, UK'Readers looking for a clear explanation of how Ponzi schemes work and description of recent and historical examples, both large and small scale, will find that in this very readable book. But the author, Professor Mervyn Lewis, goes well beyond those topics by drawing on behavioural economics and psychology to help understand how 'victims' get caught in such schemes, and the motives and behaviours of the scheme operators. That analysis also provides a valuable checklist for readers to help them avoid becoming victims.'- Kevin Davis, University of Melbourne, AustraliaA Ponzi scheme is one of the simplest, albeit effective, financial frauds to engineer, and new schemes keep coming forward. Despite this, however, people continue to invest in them. How are we to account for the seemingly never-ending lure of such schemes? In providing answers to this central question, this concise and well-researched book examines how Ponzi schemes operate, how they differ from pyramid schemes, Ponzi finance and other financial arrangements.The author questions whether the victims have only themselves to blame, why fraudsters think that they can avoid detection, and what important insights behavioural finance theory and psychology can add. Particular attention is paid to the reasons behind the failure of financial regulation, and the types of regulatory changes needed to protect investors and avoid repetitions. The analysis is informed by case studies of 11 Ponzi schemes in the US, UK, Australia and New Zealand.Finance and business academics interested in the operation of Ponzi schemes, and how they differ from pyramid schemes, will find this book invaluable, as will students of economics, finance, behavioural decision-making and psychology. Lawyers, psychologists, regulatory agencies and financial institutions will also benefit considerably from the analysis.Trade Review‘This book offers highly valuable information about Ponzi schemes. The writing is clear and well organized, and it is an excellent work not only for academic researchers, policy makers, and students, but it can also be valuable to general readers.’ -- Yiyan Li, Criminal Law and Criminal Justice‘. . . more than two dozen books on Ponzi schemes have now been written, but Understanding Ponzi Schemes provides a most informative and detailed​ ​analysis of this phenomenon based on the author’s theoretical analysis and empirical case​ ​studies. . . . The subject of Lewis’s Understanding Ponzi Schemes is significant, as Ponzi schemes are a kind of investment fraud that occurs frequently around the world. . . He does a superb job of offering a systematic description of what​ ​Ponzi schemes are, how they happen, why people fall for them, how they are able to survive​ ​for long periods of time, what we can do to avoid being victims, and ways of preventing them. . . . On the whole, this book offers highly valuable information about Ponzi schemes. The writing​ ​is clear and well organized, and it is an excellent work not only for academic researchers,​ ​policy makers, and students, but it can also be valuable to general readers.’ -- Criminal Law & Criminal Justice Books‘The short, well-referenced volume is an invaluable arrow in the quiver of finance scholars, regulatory agents, financial advisers, and other public policy officials. But it is also, not unlike the topic itself, an engaging, very readable look inside this fraudulent world. Summing Up: Highly recommended.’ -- A.R. Sanderson, Choice‘Ponzi schemes are a particularly vicious form of financial fraud, in that the overly trusting victims, who are often wiped out, typically share an affiliation with the fraudster. They are interesting, in that they share some features with legitimate financial phenomena (such as stock manias) and shed light on the human tendency towards behaving foolishly, especially when encouraged or modeled by others. In Understanding Ponzi Schemes, Mervyn Lewis has written what is probably the best and most comprehensive book on the topic. Extremely readable, this book uses both theoretical models and real-life case studies to provide readers with an answer to two questions: “How do Ponzi schemes work and why are they successful?” Lewis also provides useful answers to a third question: “What can regulators and individuals do to be protected from future incarnations of Charles Ponzi?”’ -- Stephen Greenspan, University of Connecticut, US and author of Annals of Gullibility‘Starting with very readable (and well-referenced) accounts of various Ponzi fraudsters from Ponzi himself through to Madoff and Stanford, lessons are drawn from such diverse disciplines such as psychology and statistical analysis to advocate novel approaches to the regulation of Ponzi schemes. A “must read” for regulatory policy-makers and a fascinating read for the general reader, Professor Lewis is to be congratulated for advancing the debate on this age-old phenomenon by suggesting distinctive and innovative strategies to tackle it.’ -- Eva Lomnicka, Dickson Poon School of Law, King's College London, UK‘Readers looking for a clear explanation of how Ponzi schemes work and description of recent and historical examples, both large and small scale, will find that in this very readable book. But the author, Professor Mervyn Lewis, goes well beyond those topics by drawing on behavioural economics and psychology to help understand how “victims” get caught in such schemes, and the motives and behaviours of the scheme operators. That analysis also provides a valuable checklist for readers to help them avoid becoming victims.’ -- Kevin Davis, University of Melbourne, AustraliaTable of ContentsContents: 1. An Outline of the Book 2. How do Ponzi Schemes Work? Comparing them to Other Financial Activities 3. Charles Ponzi’s Scheme Re-examined 4. Bernard Madoff and the ‘Mother of all Ponzi Schemes’ 5. Allen Stanford: The Cricketing Impresario 6. Five Other Case Studies: From Shaking Down the FBI to Bitcoin Fraud 7. Preying on the Amish 8. What can Behavioural Finance Tell Us? 9. What Would Psychologists Say? 10. What Can be Done About Ponzi Schemes? 11. Summary and Conclusions Index

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Book SynopsisThis timely book offers a nuanced critique of the nudge narrative, and demonstrates why and how ethical behaviour can have significant positive economic and wellbeing outcomes. Morris Altman models a complex alternative to the expectations of ethical behaviour and shows how this behaviour can be consistent with competitive market economies, contrary to what conventional economic theory suggests. Providing an alternative theoretical framework to analyse the relationship between ethical behaviour, decision-making environments and capabilities, individual preferences and the economy, Altman examines how being ethical can be an engine for economic growth and development. The book offers a better understanding of how ethical behaviour is good not only for the economy, but also for improving the wellbeing of our society at large whilst respecting and enhancing the rights and freedoms of individuals. This book is an important read for all those not content with the conventional economic narrative. It is also a provocative and thoughtful book for policy-makers and economists looking to better understand the growing importance of ethical behaviour for the economy.Trade Review'In this ambitious and wide-ranging book, Altman takes a behaviorally informed approach to answer the perennial question of how capitalism relates to ethics. By examining the choices made by firms, consumers, and government, Altman shows how markets and morality can interact and support each other - and more importantly, under which circumstances they do not. In doing so, he offers a blueprint for reform to ensure global wellbeing continues to rise without compromising other ethical goals such as equality and freedom.' --Mark White, College of Staten Island, CUNY, US'Altman has spent many years in the scientific study of the role of morality in economic behavior. This book reports the major findings of this research - research carried out by many economists and policy analysts around the world. His conclusion: that ethical behavior in a market economy is both possible and success-enhancing for both firms and their leaders. For years economists corrupted the top business schools with the message that ethical behavior is a loser, and greed is inevitable in the circle of winners. But the evidence is clearly to the contrary. Business leaders and policy-makers have been changing their tune in recent years, recognizing that honesty and integrity are good both for the individual and for the functioning of a vibrant economy.' --Herbert Gintis, University of Massachusetts, Amherst and Santa Fe Institute, US'In 1987 Amartya Sen published the book Ethics and Economics, in which he invited the economics profession to take better account of the ethical sensibilities that condition economic behavior. The profession has been terribly slow in accepting that invitation. In this book, Morris Altman pushes the conversation forward by exploring a wide range of questions related to the place of ethical conduct in a capitalist economy. We learn here the conditions under which ethical firms can prosper, but also that capitalist markets are apt to sustain both ethical and non-ethical firms. Drawing on both orthodox and heterodox thought, Altman clarifies central questions concerning ethical economic conduct. Thirty years after Sen, the questions pursued here are now central to public debate over corporate social responsibility, and to public policy.' --George DeMartino, University of Denver, USTable of ContentsContents: 1. Introduction: Rethinking Ethics, Economic Theory, and Public Policy 2. The Evolution of Ethics and the Market Economy 3. Understanding Why Ethical Production and Ethical Investment Can Flourish in a Global Economy 4. Ethical Choices in the Economic World 5. Free Will in Economics: Is There Freedom of Choice? 6. The Ethics of Capabilities 7. How Much Are You Willing to Pay to Be Ethical? An Experiment 8. Why Being Green Can Make You Happy and be Good for the Economy 9. The Road to Freedom? Ethical Implications of Economic Theory for Public Policy: Insights from Behaviour Economics Index

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Book Synopsis'In the study of decision-making by people in the world, the laboratory, in surveys, or in all of the above, many scholars have derided our decisions as irrational, uninformed, biased or vulnerable to illusions, if not delusions, that steer us off-track. You won't find that simplistic reduction in this book. You will find plenty of cases of error, sometimes random, sometimes systematic, and sometimes in the models that are alleged to specify rational behaviour. You will also find penetrating analyses of institutions and other social systems that have made us smart, or smart enough to muddle through in an uncertain world.'From the Foreword by Vernon L. Smith, Chapman University, USThis Handbook is a unique and original contribution of over thirty chapters on behavioural economics. It 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 particular approach is in contrast to a theme running though 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, more often than not, 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, neuroeconomics, 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. The expert contributions demonstrate that decision-making capabilities and decision-making environments can both be more effective and consistent than nudging in improving welfare and utility, and in maximizing well-being. They also demonstrate how learning, improved information, empowerment, voice and preference play a vital role in determining smart decision-making outcomes. This comprehensive and original Handbook will appeal to academics in behavioural and experimental economics, and economic psychology.Contributors include: M. Altman, C.L. Anderson, G. Antonides, M. Augier, S. Austen, N. Berg, P. Biscaye, P.J. Boettke, S. Bourgeois-Gironde, R.A. Candela, A. Cronholm, G. Danese, G. Foster, R. Frantz, P. Frijters, K. Gangl, H. Gintis, M.J.J. Handgraaf, B. Harrison, B. Hartl, A. Hopfensitz, S. James, B. Kamleitner, E.L. Khalil, R. Kheirandish, D. Kilger, E. Kirchler, F. Kutzner, D. Lester, A. Leung, E. McPhail, B. Meder, T. Mengay, L. Mittone, S. Mousavi, H. Neth, A. Ortmann, M. Pingle, O. Powell, O. Rosin, T.F. Rötheli, N. Sari, N. Shestakova, L. Spiliopoulos, V. Tarko, S. Teraji, J.F. Tomer, J. van Beek, T. Vogel, B. Yang LesterTrade Review'Behavioural economics has been dominated by the heuristics-and-biases view, according to which deviations from coherence principles are equated with irrational behaviour, making humans appear to be a group of Homer Simpsons plagued with illusions. Many economists appear to be unaware that this viewpoint has long been contested in psychology and that experimental and analytic studies have uncovered the conditions under which deceptively simple heuristics can in fact make people's behaviour smart. This book provides a fresh perspective for behavioural economics to rethink the nature of rationality by understanding how people and institutions try to make intelligent decisions in an uncertain world where the optimal course of action cannot be known ahead.' --Gerd Gigerenzer, Max Planck Institute for Human Development, BerlinTable of ContentsContents: Foreword by Vernon Smith 1. Introduction to Smart Decision-Making Morris Altman PART I Smart Decision-Makers, Different Types of Rationality, and Outcomes 2. Rational Inefficiency: Smart Thinking, Bounded Rationality, and the Scientific Basis for Economic Failure and Success Morris Altman 3. Rational Mistakes That Make Us Smart Nathan Berg 4. Rational Choice As If the Choosers Were Human Peter J. Boettke and Rosolino A. Candela 5. Smart Predictions From Wrong Data: The Case of Ecological Correlations Florian Kutzner and Tobias Vogel 6. Heuristics: fast, frugal, and smart Shabnam Mousavi, Björn Meder, Hansjörg Neth and Reza Kheirandish 7. The Beauty of Simplicity? (Simple) Heuristics and the Opportunities Yet to be Realized Andreas Ortmann and Leonidas Spiliopoulos 8. Smart Persons and Human Development: The Missing Ingredient in Behavioral Economics John F. Tomer PART II Aspects of Smart Decision-MakinG 9. Behavioral Strategy at the Frontline: Insights and Inspirations from the US Marine Corps Mie Augier 10. Feminist economics for smart behavioural economics Siobhan Austen 11. How regret Moves Individual and Collective Choices Towards Rationality Sacha Bourgeois-Gironde 12. Is it rational to be in love? Paul Frijters and Gigi Foster 13. Behavioural Economic Anthropology Giuseppe Danese and Luigi Mittone PART III Development and Governance 14. Do Changes in Farmers’ Seed Traits Align with Climate Change? A Case Study of Maize in Chiapas, México C. Leigh Anderson, Andrew Cronholm and Pierre Biscaye 15. Rationality, Globalization, and X-Efficiency Among Financial Institutions Roger Frantz 16. The Evolution of Governance Structures in a Polycentric System Edward McPhail and Vlad Tarko PART IV Tax Behaviour 17. Taxation and Nudging Simon James 18. Income Tax Compliance Erich Kirchler, Barbara Hartl and Katharina Gangl PART V Smart Macroeconomics and Finance 19. Financial decisions in the household Bernadette Kamleitner, Till Mengay and Erich Kirchler 20. Employing Priming to Shed Light on Financial Decision-making Processes Doron Kilger 21. Experimental Asset Markets: Behaviour and Bubbles Owen Powell and Natalia Shestakova 22. To Consume or to Save: Are We Maximising or What? Tobias F. Rötheli PART VI Dimensions of Health 23. Time orientation effects on health behaviour Jannette van Beek, Michel J.J. Handgraaf and Gerrit Antonides 24. Behavioral aspects of obesity Odelia Rosin 25. Time inconsistent preferences in intertemporal choices for physical activity & weight loss: Evidence from Canadian health surveys Nazmi Sari 26. Suicide Amongst Smart People Bijou Yang and David Lester PART VII Sociological Dimensions of Smart Decision-Making 27. Seeing and knowing others: the impact of social ties on economic interactions Astrid Hopfensitz 28. Weakness of Will and Stiffness of Will: How far are Shirking, Slackening, Favoritism, Spoiling of Children, and Pornography from Obsessive-Compulsive Behavior? Elias L. Khalil 29. The Role of Identity, Personal and Social Capital in Community Crime Prevention Ambrose Leung and Brandon Harrison 30. Norms, Culture, and Cognition Shinji Teraji PART VIII Morals and Ethics 31. Rational Choice in Public and Private Spheres Herbert Gintis 32. Ethics and Simple Games Mark Pingle Index

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Book Synopsis'In the study of decision-making by people in the world, the laboratory, in surveys, or in all of the above, many scholars have derided our decisions as irrational, uninformed, biased or vulnerable to illusions, if not delusions, that steer us off-track. You won't find that simplistic reduction in this book. You will find plenty of cases of error, sometimes random, sometimes systematic, and sometimes in the models that are alleged to specify rational behaviour. You will also find penetrating analyses of institutions and other social systems that have made us smart, or smart enough to muddle through in an uncertain world.'From the Foreword by Vernon L. Smith, Chapman University, USThis Handbook is a unique and original contribution of over thirty chapters on behavioural economics. It 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 particular approach is in contrast to a theme running though 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, more often than not, 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, neuroeconomics, 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. The expert contributions demonstrate that decision-making capabilities and decision-making environments can both be more effective and consistent than nudging in improving welfare and utility, and in maximizing well-being. They also demonstrate how learning, improved information, empowerment, voice and preference play a vital role in determining smart decision-making outcomes. This comprehensive and original Handbook will appeal to academics in behavioural and experimental economics, and economic psychology.Contributors include: M. Altman, C.L. Anderson, G. Antonides, M. Augier, S. Austen, N. Berg, P. Biscaye, P.J. Boettke, S. Bourgeois-Gironde, R.A. Candela, A. Cronholm, G. Danese, G. Foster, R. Frantz, P. Frijters, K. Gangl, H. Gintis, M.J.J. Handgraaf, B. Harrison, B. Hartl, A. Hopfensitz, S. James, B. Kamleitner, E.L. Khalil, R. Kheirandish, D. Kilger, E. Kirchler, F. Kutzner, D. Lester, A. Leung, E. McPhail, B. Meder, T. Mengay, L. Mittone, S. Mousavi, H. Neth, A. Ortmann, M. Pingle, O. Powell, O. Rosin, T.F. Rötheli, N. Sari, N. Shestakova, L. Spiliopoulos, V. Tarko, S. Teraji, J.F. Tomer, J. van Beek, T. Vogel, B. Yang LesterTrade Review'Behavioural economics has been dominated by the heuristics-and-biases view, according to which deviations from coherence principles are equated with irrational behaviour, making humans appear to be a group of Homer Simpsons plagued with illusions. Many economists appear to be unaware that this viewpoint has long been contested in psychology and that experimental and analytic studies have uncovered the conditions under which deceptively simple heuristics can in fact make people's behaviour smart. This book provides a fresh perspective for behavioural economics to rethink the nature of rationality by understanding how people and institutions try to make intelligent decisions in an uncertain world where the optimal course of action cannot be known ahead.' --Gerd Gigerenzer, Max Planck Institute for Human Development, BerlinTable of ContentsContents: Foreword by Vernon Smith 1. Introduction to Smart Decision-Making Morris Altman PART I Smart Decision-Makers, Different Types of Rationality, and Outcomes 2. Rational Inefficiency: Smart Thinking, Bounded Rationality, and the Scientific Basis for Economic Failure and Success Morris Altman 3. Rational Mistakes That Make Us Smart Nathan Berg 4. Rational Choice As If the Choosers Were Human Peter J. Boettke and Rosolino A. Candela 5. Smart Predictions From Wrong Data: The Case of Ecological Correlations Florian Kutzner and Tobias Vogel 6. Heuristics: fast, frugal, and smart Shabnam Mousavi, Björn Meder, Hansjörg Neth and Reza Kheirandish 7. The Beauty of Simplicity? (Simple) Heuristics and the Opportunities Yet to be Realized Andreas Ortmann and Leonidas Spiliopoulos 8. Smart Persons and Human Development: The Missing Ingredient in Behavioral Economics John F. Tomer PART II Aspects of Smart Decision-MakinG 9. Behavioral Strategy at the Frontline: Insights and Inspirations from the US Marine Corps Mie Augier 10. Feminist economics for smart behavioural economics Siobhan Austen 11. How regret Moves Individual and Collective Choices Towards Rationality Sacha Bourgeois-Gironde 12. Is it rational to be in love? Paul Frijters and Gigi Foster 13. Behavioural Economic Anthropology Giuseppe Danese and Luigi Mittone PART III Development and Governance 14. Do Changes in Farmers’ Seed Traits Align with Climate Change? A Case Study of Maize in Chiapas, México C. Leigh Anderson, Andrew Cronholm and Pierre Biscaye 15. Rationality, Globalization, and X-Efficiency Among Financial Institutions Roger Frantz 16. The Evolution of Governance Structures in a Polycentric System Edward McPhail and Vlad Tarko PART IV Tax Behaviour 17. Taxation and Nudging Simon James 18. Income Tax Compliance Erich Kirchler, Barbara Hartl and Katharina Gangl PART V Smart Macroeconomics and Finance 19. Financial decisions in the household Bernadette Kamleitner, Till Mengay and Erich Kirchler 20. Employing Priming to Shed Light on Financial Decision-making Processes Doron Kilger 21. Experimental Asset Markets: Behaviour and Bubbles Owen Powell and Natalia Shestakova 22. To Consume or to Save: Are We Maximising or What? Tobias F. Rötheli PART VI Dimensions of Health 23. Time orientation effects on health behaviour Jannette van Beek, Michel J.J. Handgraaf and Gerrit Antonides 24. Behavioral aspects of obesity Odelia Rosin 25. Time inconsistent preferences in intertemporal choices for physical activity & weight loss: Evidence from Canadian health surveys Nazmi Sari 26. Suicide Amongst Smart People Bijou Yang and David Lester PART VII Sociological Dimensions of Smart Decision-Making 27. Seeing and knowing others: the impact of social ties on economic interactions Astrid Hopfensitz 28. Weakness of Will and Stiffness of Will: How far are Shirking, Slackening, Favoritism, Spoiling of Children, and Pornography from Obsessive-Compulsive Behavior? Elias L. Khalil 29. The Role of Identity, Personal and Social Capital in Community Crime Prevention Ambrose Leung and Brandon Harrison 30. Norms, Culture, and Cognition Shinji Teraji PART VIII Morals and Ethics 31. Rational Choice in Public and Private Spheres Herbert Gintis 32. Ethics and Simple Games Mark Pingle Index

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Book SynopsisThis book presents an accessible and sometimes controversial economic exploration of numerous issues surrounding sex, marriage and family. It analyses the role of 'vanity', defined as social status and self-esteem, in social and economic behaviors.In Veblen's theory of conspicuous consumption, vanity is associated with the consumption of luxuries such as expensive handbags and cars. In this book, C. Simon Fan provocatively argues that vanity is obtained by having a spouse and children with perceived 'high-quality' values, for example, a beautiful wife, a tall husband or intelligent offspring. He demonstrates from various perspectives that vanity plays a crucial role in male-female relationships and intergenerational relationships. In doing so, he challenges the conventional frontier of economics and contributes to other social sciences.This unique book will appeal to the educated general reader and interested academic alike.Contents: 1. Introduction 2. Vanity Economics: A Survey and an Extension 3. Vanity and the Consumption of Material Goods/Services 4. Marriage Markets 5. Vanity in Romance and Marriage 6. Vanity and Virginity 7. Sexual Liberation 8. Prostitution and Commercial Sex 9. Extramarital Affairs 10. Homosexuality 11. Classical Population Theory 12. Gary Becker, Vanity Economics and Modern Population Theory 13. The Cost of Children in Population Theory 14. Child Labour, 'Working Daughters' and Population Theory 15. Old-Age Support, Family Protection and Population Theory 16. Gender Bias, Gender Gaps and Population Theory 19. A 'Population Problem': Theory and Policy 20. Vanity and Divorce 21. Development and Divorce 22. Family Background and Children's Education 23. Parental Behaviours and the Quality of Children 24. Intergenerational Transfers of Wealth 25. Family, Vanity and Consumption Puzzles 26. Vanity and Social Interactions 27. Vanity, Family and Migration 28. Epilogue IndexTrade Review'Vanity Economics is a very ambitious book. Its aim is to revisit the state of the art economic research on interpersonal relationships, both within the family and at the social level, through the lenses of a new, unifying concept: "vanity." The content is based on rigorous academic research that is made accessible to a wider audience. The book is in fact very entertaining and makes interesting reading even for nonspecialists, since it covers almost any conceivable topic touching the realms of sex marriage - including of course pre- and extramarital extensions - and social relationships from a provocative perspective. . . . the book can contribute to cultural economics by providing what, to my knowledge, is the first economic investigation of the influence of face on social interactions.'--Graziella Bertocchi, Journal of Economic LiteratureTable of ContentsContents: 1. Introduction 2. Vanity Economics: A Survey and an Extension 3. Vanity and the Consumption of Material Goods/Services 4. Marriage Markets 5. Vanity in Romance and Marriage 6. Vanity and Virginity 7. Sexual Liberation 8. Prostitution and Commercial Sex 9. Extramarital Affairs 10. Homosexuality 11. Classical Population Theory 12. Gary Becker, Vanity Economics and Modern Population Theory 13. The Cost of Children in Population Theory 14. Child Labour, ‘Working Daughters’ and Population Theory 15. Old-Age Support, Family Protection and Population Theory 16. Gender Bias, Gender Gaps and Population Theory 19. A ‘Population Problem’: Theory and Policy 20. Vanity and Divorce 21. Development and Divorce 22. Family Background and Children’s Education 23. Parental Behaviours and the Quality of Children 24. Intergenerational Transfers of Wealth 25. Family, Vanity and Consumption Puzzles 26. Vanity and Social Interactions 27. Vanity, Family and Migration 28. Epilogue Index

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Book SynopsisElgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. This concise introduction presents a rigorous analysis of consumer choice from the perspective of consumer behavior analysis. Gordon Foxall provides a deeper understanding of what consumers actually buy and the nature of the utility that shapes and maintains patterns of consumption. Key features include: a revolutionary new approach to understanding consumer behavior a novel synthesis of behavioral psychology, behavioral economics, and marketing science a new model of consumer choice, the Behavioral Perspective Model, that is comprehensively supported by empirical research addresses more extreme behaviors such as compulsive purchasing and addiction. Unique and authoritative, this work will prove a valuable resource for students and scholars of consumer behavior and marketing, social and behavioral science, micro-economics, economic psychology and behavioral economics. Marketing managers will also be interested in its approach to consumer research, with its innovative consequences for marketing management.Trade Review'Amidst a precise and friendly exposition, Foxall presents his brilliant research program, based upon a behavioral model that integrates the soundest and most promising scientific approaches to consumer behavior, namely, behavioral psychology, marketing science and behavioral economics. The book bestows the reader with conceptual and empirical tools to interpret and explain consumer choices in natural settings, coherently exploring emotions, temporal discounting, demand sensitivity, utility maximization and neurophysiological events. Magnificent intellectual work carried out with rare philosophical and academic consistency.' --Jorge M. Oliveira-Castro, University of Brasilia, Brazil'Consumer behavior is shaped by its context and consequences. This book is a critical and valuable introduction to recent developments in consumer behavior analysis, written by a leading scholar. Professor Foxall has extended the domain of behavioral psychology and its relevance to marketing science and economics, in an interdisciplinary manner that only he is capable of achieving. The current ''technology/data revolution'' demands a focus on environmental-behaviour interaction.' --Valdimar Sigurdsson, Reykjavik University, IcelandTable of ContentsContents: Preface 1. What consumer behavior analysis is 2. Consumer choice in behavioral perspective 3. Interpretations of consumer choice 4. Consumer brand choice 5. Matching: choice as behavior 6. Maximizing: the import of pattern of reinforcement 7. The temporal dimension Index

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Book SynopsisElgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. This concise introduction presents a rigorous analysis of consumer choice from the perspective of consumer behavior analysis. Gordon Foxall provides a deeper understanding of what consumers actually buy and the nature of the utility that shapes and maintains patterns of consumption. Key features include: a revolutionary new approach to understanding consumer behavior a novel synthesis of behavioral psychology, behavioral economics, and marketing science a new model of consumer choice, the Behavioral Perspective Model, that is comprehensively supported by empirical research addresses more extreme behaviors such as compulsive purchasing and addiction. Unique and authoritative, this work will prove a valuable resource for students and scholars of consumer behavior and marketing, social and behavioral science, micro-economics, economic psychology and behavioral economics. Marketing managers will also be interested in its approach to consumer research, with its innovative consequences for marketing management.Trade Review'Amidst a precise and friendly exposition, Foxall presents his brilliant research program, based upon a behavioral model that integrates the soundest and most promising scientific approaches to consumer behavior, namely, behavioral psychology, marketing science and behavioral economics. The book bestows the reader with conceptual and empirical tools to interpret and explain consumer choices in natural settings, coherently exploring emotions, temporal discounting, demand sensitivity, utility maximization and neurophysiological events. Magnificent intellectual work carried out with rare philosophical and academic consistency.' --Jorge M. Oliveira-Castro, University of Brasilia, Brazil'Consumer behavior is shaped by its context and consequences. This book is a critical and valuable introduction to recent developments in consumer behavior analysis, written by a leading scholar. Professor Foxall has extended the domain of behavioral psychology and its relevance to marketing science and economics, in an interdisciplinary manner that only he is capable of achieving. The current ''technology/data revolution'' demands a focus on environmental-behaviour interaction.' --Valdimar Sigurdsson, Reykjavik University, IcelandTable of ContentsContents: Preface 1. What consumer behavior analysis is 2. Consumer choice in behavioral perspective 3. Interpretations of consumer choice 4. Consumer brand choice 5. Matching: choice as behavior 6. Maximizing: the import of pattern of reinforcement 7. The temporal dimension Index

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Book SynopsisThis Handbook presents insights from the expanding field of behavioral economics. The unique collective volume integrates behavioral concepts into the study of industrial organization to enhance understanding and interest in the subject.The Handbook of Behavioral Industrial Organization explores numerous critical topics including relative thinking, salience, shrouded attributes, overconfidence, status quo bias, identity and motivated reasoning (including cognitive dissonance and confirmation bias). Each of these behavioral concepts is linked to industrial organization and considers multiple industries in order to present a well-rounded and composite approach. Additional chapters focus on industry issues such as the sports and gambling industries, neuroeconomic studies of brands and advertising, and behavioral antitrust law. Throughout the Handbook authors use a variety of research methods such as literature surveys, experimental and econometric research, and theoretical modelling to promote accessibility to a wide audience.Researchers, academics and economists in the fields of behavioral economics, industrial organization, regulation and consumer psychology will find this book stimulating and useful.Contributors include: O.H. Azar, J.P. Berkowitz, J.V. Butler, Y. Cao, S.M. Chowdhury, D. Coates, C.A. Depken, R. Eisenhuth, X. Gabaix, J.M. Gandar, F. Herweg, C. Horton Tremblay, B.R. Humphreys, D.R. Just, D. Laibson, E. Lukinova, S. Martin, A.A. Mazooz, D. Müller, D. Murphy, M. Myagkov, A. Neuhierl, E. Schroeder, D.F. Stone, V.J. Tremblay, D.E. Waldman, P. Weinschenk, W. Wilson, D.H. WoodTable of ContentsContents: PART I INTRODUCTION 1. Behavioral industrial organization: A synthesis of behavioral economics and industrial organization Elizabeth Schroeder, Carol Horton Tremblay, and Victor J. Tremblay PART II BEHAVIORAL ISSUES AND INDUSTRIAL ORGANIZATION 2. Relative thinking and industrial organization: A survey Ofer H. Azar and Amit A. Mazooz 3. Shrouded attributes, consumer myopia, and information suppression in competitive markets Xavier Gabaix and David Laibson 4. Salience in markets Fabian Herweg, Daniel Müller, and Philipp Weinschenk 5. Cognitive dissonance, motivated reasoning, and confirmation bias: Applications in industrial organization Daniel F. Stone and Daniel H. Wood 6. Risk, overconfidence, and production in a competitive market David R. Just and Ying Cao 7. Status Quo Bias Don E. Waldman 8. Cooperation in the social domain: Prisoners’ dilemma and social interactions Evgeniya Lukinova, Wesley W. Wilson, and Mikhail Myagkov 9. Identity and the theory of the firm Jeffrey V. Butler PART III INDUSTRY AND ANTITRUST ISSUES IN BEHAVIORAL INDUSTRIAL ORGANIZATION 10. Casino game markets Roland Eisenhuth, Dermot Murphy, and Andreas Neuhierl 11. One-armed bandits and behavioral economics Jason P. Berkowitz, Craig A. Depken, II, and John M. Gandar 12. Behavioral and sports economics Dennis Coates and Brad R. Humphreys 13. Neuroeconomic studies in industrial organization: Brand, advertising, and price effects on consumer valuation and choice Carol Horton Tremblay 14. Antitrust and the ‘Beckerian Proposition’: The effects of investigation of fines on cartels Subhasish M. Chowdhury and Frederick Wandschneider 15. Behavioral Antitrust Stephen Martin Index

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Book SynopsisElgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. Leading researcher John F. Tomer presents an invigorating and concise introduction to behavioral economics that offers essential behavioral theories, perspectives, trends and developments within this ever-evolving discipline. This book covers the key areas of behavioral economics, including Herbert Simon's bounded rationality, Daniel Kahneman and Amos Tversky's psychological economics, behavioral finance, nudging and public policy, behavioral macroeconomics, law and behavioral economics, neuroeconomics and empirical methods of behavioral economics. John F. Tomer also explores how and why behavioral economics emerged and differs from neoclassical economics. This book will be particularly useful for advanced undergraduate students, graduate students, policy makers, and other professionals who participate in economic-related matters.Trade Review'A useful, compact discussion of the history and central issues in behavioral economics.' --Colin F. Camerer, California Institute of Technology, USTable of ContentsContents: Introduction 1. The Scientific Practices of Economics and the Emergence of Behavioral Economics 2. The Practices and Content of the Bounded Rationality Strand 3. The Basics of the Psychological Economics Strand 4. Psychological Economics: Important Further Developments 5. Behavioral Finance 6. Behavioral Economics, Public Policy, and Nudging 7. Law and Behavioral Economics 8. Behavioral Macroeconomics 9. The Empirical Methods of Behavioral Economics 10. Are Mainstream Economists Open Minded Toward Behavioral Economics or Do They Resist it? 11. Neuroeconomics 12. Toward a More Humanistic Behavioral Economics 13. Behavioral Economic Trends Conclusions Index

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Book SynopsisElgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. Leading researcher John F. Tomer presents an invigorating and concise introduction to behavioral economics that offers essential behavioral theories, perspectives, trends and developments within this ever-evolving discipline. This book covers the key areas of behavioral economics, including Herbert Simon's bounded rationality, Daniel Kahneman and Amos Tversky's psychological economics, behavioral finance, nudging and public policy, behavioral macroeconomics, law and behavioral economics, neuroeconomics and empirical methods of behavioral economics. John F. Tomer also explores how and why behavioral economics emerged and differs from neoclassical economics. This book will be particularly useful for advanced undergraduate students, graduate students, policy makers, and other professionals who participate in economic-related matters.Trade Review'A useful, compact discussion of the history and central issues in behavioral economics.' --Colin F. Camerer, California Institute of Technology, USTable of ContentsContents: Introduction 1. The Scientific Practices of Economics and the Emergence of Behavioral Economics 2. The Practices and Content of the Bounded Rationality Strand 3. The Basics of the Psychological Economics Strand 4. Psychological Economics: Important Further Developments 5. Behavioral Finance 6. Behavioral Economics, Public Policy, and Nudging 7. Law and Behavioral Economics 8. Behavioral Macroeconomics 9. The Empirical Methods of Behavioral Economics 10. Are Mainstream Economists Open Minded Toward Behavioral Economics or Do They Resist it? 11. Neuroeconomics 12. Toward a More Humanistic Behavioral Economics 13. Behavioral Economic Trends Conclusions Index

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Book SynopsisThe Handbook of Experimental Game Theory offers a comprehensive analysis of the field, discussing foundational topics that are at the core of applied game theory. It highlights the nuances that scientific experiments have delivered to our understanding of strategic interactions among decision makers. Leading experts explore methodological considerations and games of complete and incomplete information to offer new directions for research in experimental game theory. Chapters demonstrate transformative behavioral research focused on classic topics in game theory such as cooperation and coordination games. Taking a scientific approach to the study of game theory, this innovative Handbook provides an insight into laboratory and field experiments that test game theoretic propositions and suggests new ways of modeling strategic behavior. It takes a forward-thinking position, addressing the challenges inherent in innovations surrounding the measurement of strategic behavior using experimental methods. This Handbook will prove to be a valuable resource for scholars and students who are looking to gain a broader understanding of experimental game theory and how to contribute to its advancement. It will also be of particular interest to researchers in experimental and behavioral economics.Trade Review'This Handbook is a must-have resource for experimental economists and game theorists. It consists of authoritative contributions from top researchers in the areas it covers. The topics range from methodology to surveys of important and active research in experimental game theory. The Handbook is both rigorous in its treatment of the topics as well as accessible to readers not familiar with the areas of coverage.' --Charles Noussair, University of Arizona, US'Every game theorist and experimental economist should have this book and use it to analyze data, design experiments, and understand their results.' --Elizabeth Hoffman, Iowa State University, USTable of ContentsContents: Introduction to the Handbook of Experimental Game Theory 1 C. Mónica Capra, Rachel T.A. Croson, Mary L. Rigdon and Tanya S. Rosenblat PART I A SAMPLING OF METHODOLOGICAL INNOVATIONS 1 Stochastic game theory for social science: a primer on quantal response equilibrium 8 Jacob K. Goeree, Charles A. Holt and Thomas R. Palfrey 2 The experimetrics of depth-of-reasoning models 48 Peter G. Moffatt 3 The process of choice in games 69 Giorgio Coricelli, Luca Polonio and Alexander Vostroknutov 4 Games with continuous-time experimental protocols 95 Alexander L. Brown and Daniel G. Stephenson 5 Bargaining in the field 125 Marco Castillo and Ragan Petrie PART II EXPERIMENTS ON STATIC AND DYNAMIC GAMES OF COMPLETE INFORMATION 6 Recent advances in experimental coordination games 149 David J. Cooper and Roberto A. Weber 7 Public goods, norms and cooperation 184 Marie Claire Villeval 8 Cooperation among strangers with and without a monetary system 213 Maria Bigoni, Gabriele Camera and Marco Casari 9 Game-theoretic accounts of social norms: the role of normative expectations 241 Cristina Bicchieri and Alessandro Sontuoso 10 Strategies used by non-human primates in dynamic games 256 Mackenzie F. Webster, Julia Watzek and Sarah F. Brosnan 11 Reciprocity in games with unknown types 271 Garret Ridinger and Michael McBride 12 Behavioral rules 289 Carlos Alós-Ferrer and Johannes Buckenmaier PART III EXPERIMENTS ON STATIC AND DYNAMIC GAMES OF INCOMPLETE INFORMATION 13 Strategic information transmission: a survey of experiments and theoretical foundations 311 Andreas Blume, Ernest K. Lai and Wooyoung Lim 14 Communication and information in games of collective decision: a survey of experimental results 348 César Martinelli and Thomas R. Palfrey 15 Voting game experiments with incomplete information: a survey 376 Jens Großer 16 Experiments in market design 399 Siqi Pan Index

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Book SynopsisPonzi schemes are a particularly vicious form of financial fraud, in that the overly trusting victims, who are often wiped out, typically share an affiliation with the fraudster. They are interesting, in that they share some features with legitimate financial phenomena (such as stock manias) and shed light on the human tendency towards behaving foolishly, especially when encouraged or modeled by others. In Understanding Ponzi Schemes, Mervyn Lewis has written what is probably the best and most comprehensive book on the topic. Extremely readable, this book uses both theoretical models and real-life case studies to provide readers with an answer to two questions: 'How do Ponzi schemes work and why are they successful?' Lewis also provides useful answers to a third question: 'What can regulators and individuals do to be protected from future incarnations of Charles Ponzi?'''- Stephen Greenspan, University of Connecticut, US and author of Annals of Gullibility'Starting with very readable (and well-referenced) accounts of various Ponzi fraudsters from Ponzi himself through to Madoff and Stanford, lessons are drawn from such diverse disciplines such as psychology and statistical analysis to advocate novel approaches to the regulation of Ponzi schemes. A 'must read' for regulatory policy-makers and a fascinating read for the general reader, Professor Lewis is to be congratulated for advancing the debate on this age-old phenomenon by suggesting distinctive and innovative strategies to tackle it.'- Eva Lomnicka, Dickson Poon School of Law, King's College London, UK'Readers looking for a clear explanation of how Ponzi schemes work and description of recent and historical examples, both large and small scale, will find that in this very readable book. But the author, Professor Mervyn Lewis, goes well beyond those topics by drawing on behavioural economics and psychology to help understand how 'victims' get caught in such schemes, and the motives and behaviours of the scheme operators. That analysis also provides a valuable checklist for readers to help them avoid becoming victims.'- Kevin Davis, University of Melbourne, AustraliaA Ponzi scheme is one of the simplest, albeit effective, financial frauds to engineer, and new schemes keep coming forward. Despite this, however, people continue to invest in them. How are we to account for the seemingly never-ending lure of such schemes? In providing answers to this central question, this concise and well-researched book examines how Ponzi schemes operate, how they differ from pyramid schemes, Ponzi finance and other financial arrangements.The author questions whether the victims have only themselves to blame, why fraudsters think that they can avoid detection, and what important insights behavioural finance theory and psychology can add. Particular attention is paid to the reasons behind the failure of financial regulation, and the types of regulatory changes needed to protect investors and avoid repetitions. The analysis is informed by case studies of 11 Ponzi schemes in the US, UK, Australia and New Zealand.Finance and business academics interested in the operation of Ponzi schemes, and how they differ from pyramid schemes, will find this book invaluable, as will students of economics, finance, behavioural decision-making and psychology. Lawyers, psychologists, regulatory agencies and financial institutions will also benefit considerably from the analysis.Trade Review‘This book offers highly valuable information about Ponzi schemes. The writing is clear and well organized, and it is an excellent work not only for academic researchers, policy makers, and students, but it can also be valuable to general readers.’ -- Yiyan Li, Criminal Law and Criminal Justice‘. . . more than two dozen books on Ponzi schemes have now been written, but Understanding Ponzi Schemes provides a most informative and detailed​ ​analysis of this phenomenon based on the author’s theoretical analysis and empirical case​ ​studies. . . . The subject of Lewis’s Understanding Ponzi Schemes is significant, as Ponzi schemes are a kind of investment fraud that occurs frequently around the world. . . He does a superb job of offering a systematic description of what​ ​Ponzi schemes are, how they happen, why people fall for them, how they are able to survive​ ​for long periods of time, what we can do to avoid being victims, and ways of preventing them. . . . On the whole, this book offers highly valuable information about Ponzi schemes. The writing​ ​is clear and well organized, and it is an excellent work not only for academic researchers,​ ​policy makers, and students, but it can also be valuable to general readers.’ -- Criminal Law & Criminal Justice Books‘The short, well-referenced volume is an invaluable arrow in the quiver of finance scholars, regulatory agents, financial advisers, and other public policy officials. But it is also, not unlike the topic itself, an engaging, very readable look inside this fraudulent world. Summing Up: Highly recommended.’ -- A.R. Sanderson, Choice‘Ponzi schemes are a particularly vicious form of financial fraud, in that the overly trusting victims, who are often wiped out, typically share an affiliation with the fraudster. They are interesting, in that they share some features with legitimate financial phenomena (such as stock manias) and shed light on the human tendency towards behaving foolishly, especially when encouraged or modeled by others. In Understanding Ponzi Schemes, Mervyn Lewis has written what is probably the best and most comprehensive book on the topic. Extremely readable, this book uses both theoretical models and real-life case studies to provide readers with an answer to two questions: “How do Ponzi schemes work and why are they successful?” Lewis also provides useful answers to a third question: “What can regulators and individuals do to be protected from future incarnations of Charles Ponzi?”’ -- Stephen Greenspan, University of Connecticut, US and author of Annals of Gullibility‘Starting with very readable (and well-referenced) accounts of various Ponzi fraudsters from Ponzi himself through to Madoff and Stanford, lessons are drawn from such diverse disciplines such as psychology and statistical analysis to advocate novel approaches to the regulation of Ponzi schemes. A “must read” for regulatory policy-makers and a fascinating read for the general reader, Professor Lewis is to be congratulated for advancing the debate on this age-old phenomenon by suggesting distinctive and innovative strategies to tackle it.’ -- Eva Lomnicka, Dickson Poon School of Law, King's College London, UK‘Readers looking for a clear explanation of how Ponzi schemes work and description of recent and historical examples, both large and small scale, will find that in this very readable book. But the author, Professor Mervyn Lewis, goes well beyond those topics by drawing on behavioural economics and psychology to help understand how “victims” get caught in such schemes, and the motives and behaviours of the scheme operators. That analysis also provides a valuable checklist for readers to help them avoid becoming victims.’ -- Kevin Davis, University of Melbourne, AustraliaTable of ContentsContents: 1. An Outline of the Book 2. How do Ponzi Schemes Work? Comparing them to Other Financial Activities 3. Charles Ponzi’s Scheme Re-examined 4. Bernard Madoff and the ‘Mother of all Ponzi Schemes’ 5. Allen Stanford: The Cricketing Impresario 6. Five Other Case Studies: From Shaking Down the FBI to Bitcoin Fraud 7. Preying on the Amish 8. What can Behavioural Finance Tell Us? 9. What Would Psychologists Say? 10. What Can be Done About Ponzi Schemes? 11. Summary and Conclusions Index

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Book SynopsisWith the radical growth in the ubiquity of digital platforms, the sharing economy is here to stay. This Handbook explores the nature and direction of the sharing economy, interrogating its key dynamics and evolution over the past decade and critiquing its effect on society. Using an interdisciplinary perspective, this Handbook analyses labour, governance, trust and consumption in the contemporary sharing economy. It questions the apparent contradiction between its components: the moral economy of small-scale communal sharing versus the far-flung reaches of the market economy. Chapters explore ways to resolve this paradox, theorizing hybrid economic forms and considering the replacement of human trust inherent in the sharing economy with a transactional reputation economy. Featuring a variety of both conceptual explorations and empirical investigations in a variety of different cross-cultural contexts, this Handbook illustrates how and, more importantly, why the sharing economy has reshaped marketplaces, and will continue to disrupt them as it develops. Written in an accessible style, this thorough Handbook offers crucial insights for researchers across a variety of disciplines interested in the trajectories of modern consumption, as well as students studying the sharing economy. Practitioners, policy makers and public speakers working in and around the sharing economy will also benefit from this book's unique analysis of trends in consumer economics. Contributors include: A. Arvidsson, G. Avram, F. Bardhi, H. Bartling, M. Baz Radwan, R. Belk, H.H. Chang, A. Chattopadhyay, R. Corten, D. Dalli, A. DeCrop, N. Drozdova, G. Eckhardt, T. Eriksson, E. Fischer, F. Fortezza, A. Gandini, A. Gessinger, A. Graul, A. Gruen, A.J. Hawley, I. Kleppe, S. Kurtmollaiev, M. Laamanen, C. Laurell, C.X. Li, A. Light, R.J. Lutz, J. Mallargé, K. Mikolajewska-Zaj c, L. Mimoun, M. Möhlmann, O. Mont, J. Morales, A. Mukherjee, C. Oberg, L.K. Ozanne, E. Papaoikonomou, G. Patsiaouras, C. Pitt, K. Plangger, M. Rocas-Royo, A. Ryan, C. Sandstrom, M. Saren, K. Strzyczkowski, W. Suetzl, T. Teubner, C. Valor, P. van den Bussche, G. von Richthofen, Y. Voytenko Palgen, S. Wahlen, T. Widlok, P. Zidda, L. Zvolska Trade Review'This Handbook offers wide-ranging investigations and essays into the sharing economy. It takes the reader through a deep and critical look at this new way of organizing markets and society. While exposing the promise, practices, and paradoxes of these systems, the authors succeed in inspiring us to think how these platforms are changing how we consume, sell, and think about and care for the world. It offers fresh insights that I expect to influence my research and teaching in important ways for a long time.' --Christine Moorman, Duke University, US and Editor in Chief, Journal of Marketing'The sharing economy is fundamentally altering firms and markets, yet key questions about the future of the economy and society remain unanswered. Belk, Eckhardt and Bardhi provide a sweeping view of emerging thinking, spanning topics from blockchain and big data to rhetoric and risk. A must-read for any serious scholar.' --Arun Sundararajan, New York University, US and author of The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism'This is a must-read collection for anyone seeking a deeper appreciation of the sharing economy and why and how it works. Twenty-eight chapters explore the paradoxes between the moral economy of ''sharing'' the market economy of ''commerce,'' and the reputation economy on which everything is based. If you want a greater sense of the benefits and dilemmas of the sharing economy read this book.' --Susan Fournier, Boston University, USTable of ContentsContents: The paradox of the sharing economy, Introductory chapter Russell Belk, Giana Eckhardt and Fleura Bardhi The Nature of Sharing and the Sharing Economy 1. Situating the Sharing Economy: Between Markets, Commons and Capital Adam Arvidsson 2. Sharing as an Alternative Economy Activity Thomas Widlok 3. The who and what of sharing: A phenomenological view Wolfgang Suetzl 4. The Sharing Economy and Lifestyle Movements Mikko Laamanen and Stefan Wahlen Ownership, Access, and Collaborative Modalities 5. To Own or to Access: An Exploration of Sharing and Access Practices by Arab Millennials Maha Baz Radwan, Georgios Patsiaouras and Michael Saren 6 Object History Value in the Sharing Economy Claris X. Li and Richard J. Lutz 7. Guest, friend or colleague? Unpacking relationship norms in collaborative workplaces Adèle Gruen and Laetitia Mimoun 8. Designing the Economics of the Sharing Economy: Towards Sustainable Management Ann Light Exchange Practices in the Sharing Economy 9. The New Face of Bartering in Collaborative Networks: The Case of Italy’s Most Popular Bartering Website Daniele Dalli and Fulvio Fortezza 10. Sharing Economy to the Rescue? The Case of Timebanking Carmen Valor and Elani Papaoikonomou 11. Crowdfunding: Sharing the Entrepreneurial Journey Anirban Mukherjee, Hannah H. Chang, and Amitava Chattopadhyay 12. Crowdfunding the development of new products and services Natalia Drozdova, Seidali Kurtmollaiev and Ingeborg Kleppe Hybridity, Institutional Logics and Institutional Theory 13. Tracking the institutional logics of the sharing economy Andrea Gessinger, Christopher Laurell, Christina Oberg and Christian Sandstrom 14. Airbnb and Hybridized Logics of Commerce and Hospitality Georg von Richthofen and Eileen Fischer 15. The Hybrid Nature on Online Facilitated Offline Sharing Konstanty Strzyczkowski 16. Decentralization as a new framework for the sharing economy Marc Rocas-Royo Legal, Regulatory, and Public Policy Considerations 17. Urban Mobilities and Local Regulation: Transportation Challenges and Promise of the Sharing Economy Hugh Bartling 18. Should Europe Regulate Labour Platforms in the Sharing Economy? Adrian J. Hawley 19. Creating value to mitigate disaster harm: How the sharing economy can support consumers and policy makers Lucie K. Ozanne 20. How Sharing Economy Organizations and City Governments Engage in Institutional Work and How This Shapes Sustainability Oksana Mont, Yulia Voytenko Palgen, and Lucie Zvolska Trust, Satisfaction, and Reputation in the sharing economy 21. Social Dilemmas in the Sharing Economy Rense Corten 22. Leveraging trust on sharing economy platforms: Reputation systems, blockchain technology and cryptocurrencies Mareike Möhlmann, Timm Teubner, and Antje Graul 23. Revisiting Satisfaction with Collaborative Exchanges in the Sharing Economy Jérôme Mallargé, Alain DeCrop, and Pietro, Zidda 24. Customer goodwill: How perceived competence and rapport influence eWOM’s diagnosticity of Peer-to-Peer and Professional Access-Based Services Christine Pitt, Theresa Eriksson, and Kirk Plangger Critical Perspectives on the Sharing Economy 25. Constructing the Collaborative Consumer: The Role of Digital Platforms Annmarie Ryan and Gabriela Avram 26. Performing (in) the community: Accounting, biopower and the sharing economy Penelope van den Bussche and Jeremy Morales 27. The Rhetoric of Sharing: Managerial Literature on the Sharing Economy Karolina Mikołajewska-Zając 28. Reputation: the ‘fictitious commodity’ of the sharing economy? Alessandro Gandini Index

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Book SynopsisThe first Handbook in economics dedicated to the discussion of the methods of experimental economics, this timely book analyses the current state-of-the-art in the field. The chapters systematically cover the most relevant issues in experimental design and implementation, while also exploring novel research developments. Offering a comprehensive review of experimental methods in economics, this 21 chapter Handbook covers theoretical and practical issues including: recruitment, software and laboratory organization, incentives, data analysis, and theory and policy development. Expert scholars offer unique insight into laboratory procedures, replication studies, field experiments and neuroeconomics, while also providing a novel set-valued equilibrium concept. The combination of basic methods and current developments will aid both novice and advanced experimental economists. This is a must-read for economic researchers and scholars using experimental methodology, providing vital reference and clarifying issues that will arise when designing and running experiments. Graduate students of experimental and behavioral economics will also find this a useful guide in learning about the advanced tools this exciting field has to offer.Trade Review'This is a wonderful book. It is rare that a book collects chapters that both discuss experimental methods as well as research on the frontiers of knowledge. This is a must-read for both the novice and the veteran experimentalist as well as those outside the field' --Andrew Schotter, New York University, USTable of ContentsContents: Introduction Arthur Schram and Aljaž Ule Part I Methods of Experimental Economics 1. Incentives James C. Cox and Vjollca Sadiraj 2. Deception Andreas Ortmann 3. Preference Measurement and Manipulation in Experimental Economics Hande Erkut and Ernesto Reuben 4. Data Analysis Peter G. Moffatt 5. Replication and other Practices for Improving Scientific Quality in Experimental Economics Colin F. Camerer, Anna Dreber, and Magnus Johannesson Part II Field Experiments 6. Advantages and Disadvantages of Field Experiments Anya Samek 7. Randomization in Field Experiments Noemi Peter and Adriaan R. Soetevent Part III Neuroeconomics 8. Brain Measurement and Manipulation Methods Jan B. Engelmann, Manon Mulckhuyse, and Chih-Chung Ting 9. An Introduction to Physiological Economics Oliver J. Hulme, Edward J.D. Webb, and Alexander C. Sebald 10. Neuroeconomics: Data Analysis Mael Lebreton and Kerstin Preuschoff 11. Homo Oeconomicus with a Personality—Trait-based Differences in Decision Making Carsten K.W. De Dreu and Jörg Gross Part IV Developing Economic Theory and Policy 12. Taking Process into Account when Modelling Risky Choice Graham Loomes 13. Rank-Dependent Choice Equilibrium: A Non-Parametric Generalization of QRE Jacob K. Goeree, Charles A. Holt, Philippos Louis, Thomas R. Palfrey, and Brian Rogers 14. Experiments on Macroeconomics: Methods and Applications Camille Cornand and Frank Heinemann 15. The Role of Experiments for Policy Design Peter Werner and Arno Riedl Part V Experimental Procedures 16. Subject Pools and Recruitment Ben Greiner and Marianne Stephanides 17. Software and Laboratory Organization Joep Sonnemans and Ailko van der Veen 18. Cross-Cultural Behavioral Experiments: Potential and Challenges Christian Thöni 19. Real-Effort Tasks Jeffrey Carpenter and Emiliano Huet-Vaughn 20. Experimenter Demand Effects Jonathan de Quidt, Lise Vesterlund, and Alistair J. Wilson 21. Communication in Laboratory Experiments Jordi Brandts, David J. Cooper, and Christina Rott Index

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Book Synopsis'It is about time that economists - and other social scientists - go beyond material aspects and seriously study interpersonal relationships such as giving and informal work. And Lorna Zischka does this by providing an excellent overview of the existing literature and by contributing important empirical analyses.' - Bruno S. Frey, CREMA - Center for Research in Economics, Management and the Arts, SwitzerlandRelationships between people are known to impact our quality of life, and the cohesive nature of those relationships can be evaluated by the time and money that people put into them. In this book, Lorna Zischka explores ways in which a person s willingness to 'give' both reflects and generates social cohesion. Zischka draws together two distinct bodies of literature; on social capital and on generosity, as well as analysing UK data to reveal the strong links between 'giving' patterns and community cohesion. Reacting to the needs and interests of others brings communities together, building positive relationships and enabling people to work together more effectively. Welfare policy can be improved by directing attention to the relationships that underlie 'giving', and as such this book is an important read for community development practitioners and policy makers. Finding out if a programme stimulates more people to 'give' represents a measurable goal that has a tangible impact on social cohesion. This is also a valuable read for social science scholars wishing to explore the feedback loops between thriving communities and the act of 'giving'.Trade Review'There is growing recognition that quality of relationships is the key to personal well-being in terms of health, education and participation in society. So there is every reason for governments and NGOs to seek to 'nudge' people in the direction of strengthening their relationships. However, to justify public spending requires that outcomes can be measured. Lorna Zischka's ground-breaking book gives government decision-makers and NGO leaders a valuable tool towards the goal of measuring quality of relationships in families and communities so as to be able to assess the effectiveness of their interventions.' --Michael Schluter, Chairman of Relational Research, UK'At last, we have a book that connects the three important strands of social science literature: the quality of inter-personal relations and the wider community; people's social capital in terms of stocks and flows; and the growing literature on giving, generosity and altruism. The author brings much needed clarity and solid empirical evidence to what motivates people and makes for engaged communities, and, ultimately, a good life.' --Helmut K. Anheier, Hertie School of Governance and Heidelberg University, Germany'A brilliant and thought-provoking book that should change the way social scientists and policy makers of all stripes do their work and understand the work that they do. For too long the study of social interactions has been impoverished by the cynical anthropological assumption of homo oeconomicus. In this book, full of insights and evidence, the author creatively explores the consequences on social cohesion and well-being stemming from the adoption of a relational perspective. The practice of gift as gratuitousness, by generating social capital and trust, makes better communities, and in so doing enhances life-satisfaction. The author explains why policies and business practices that ignore interpersonal relationships and prosocial motivation of people often fail. This original and interdisciplinary work will provide a fascinating read for researchers and student across a wide range of fields.' --Stefano Zamagni, University of Bologna and Johns Hopkins University, SAIS Europe, ItalyTable of ContentsContents: Preface 1. Why ‘interpersonal relationships’ need to be included in measures of wellbeing 2. Social capital: a framework for understanding interpersonal relationships 3. Joining the dots between ‘cohesive relationships’ and ‘generosity’ 4. Evidence of links between prosocial motivation, giving behaviours and welfare 5. The trustworthiness of other people and personal inclination: two distinct drivers of giving 6. The impact of a cohesive social environment on giving behaviours 7. The impact of giving behaviours on a cohesive social environment 8. People who ‘give’ make better communities: summary and implications A non-technical note on the interpretation of the regression tables Acknowledgements References and Data Index

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Book SynopsisElgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary.Presenting state-of-the-art reviews on classical and novel research fields in economic psychology, this Research Agenda studies the fundamentals, perceptions and understanding of economic phenomena and behaviour. Internationally renowned experts as well as the next generation of researchers summarize the field and outline promising avenues of future research. Research topics are addressed from an interdisciplinary perspective, providing a broad spectrum of thought on economic psychology. Exploring important gaps in research, chapters include theoretical as well as applied themes and cover novel research fields, to keep the reader abreast of contemporary developments. These include the psychology of money, product design, financial capabilities, sustainable consumption, diet, ethical conduct, gender inequality, the sharing economy, basic income, happiness, and tax psychology. Researchers and advanced students of economics and psychology looking to update their knowledge and refresh their thinking on future research will greatly benefit from this timely book.Contributors include: S. Asbach, J.M. Bauer, J. Bosak, S. Diefenbach, K. Gangl, A. Gasiorowska, B. Hartl, M. Hassenzahl, D. Hilton, E. Hofmann, J. Khan, E. Kirchler, C. Kulich, C. Loibl, T.L. Milfont, K. Patel, L.A. Reisch, G. Rivers, D. Schwartz, M. Sommer, D. Stimmler, O. Stravrova, C. Tanner, I. VlaevTrade Review'This book presents a highly interesting collection of economic-psychological contributions on important contemporary topics in society. What makes this book outstanding is that it combines an applied, problem-oriented perspective (e.g., on indebtedness, gender inequality, tax evasion) with up-to-date reviews and stimulating ideas for research. It incorporates many current developments (e.g., digital transformation, sharing economy) and debates (e.g., corporate responsibility, basic income), and therefore provides a valuable overview on current economic psychology.' --Erik Hölzl, University of Cologne, Germany'The chapters are succinct, offering straightforward and accessible reviews of research areas in economic psychology. Some of the topics are familiar ones including chapters on money, debt, tax, wealth and happiness, while others are more novel such as those which cover the influence of digital technology on product design and the 'Sharing Economy'. This is a book which mainly deals with applying Psychology to economic behaviour, which it succeeds in doing. This applied focus includes providing policy advice about changing behaviour in order to encourage healthier eating habits and the more efficient management of household finances.' --Alan Lewis, University of Bath, UKTable of ContentsContents: 1. Economic psychology: Selected contributions to an emerging discipline Katharina Gangl and Erich Kirchler 2. Lay people’s and children’s theories of money Agata Gasiorowska 3. Improving financial capability Krishane Patel and Ivo Vlaev 4. Role of ‘owned’ money and rational spending Jashim Khan and Gary Rivers 5. Debts and over-indebtedness of private households Cäzilia Loibl 6. Psychology in product design Sarah Diefenbach and Marc Hassenzahl 7. The interplay between intrinsic motivation, financial incentives and nudges in sustainable consumption Daniel Schwartz, Taciano L. Milfont and Denis Hilton 8. Behavioural mechanisms and (un)healthy dietary choices: A research agenda for better evidence Jan M. Bauer and Lucia A. Reisch 9. Preventing wrongdoing and promoting ethical conduct: A regulatory focus approach to corporate ethical culture Diana Stimmler and Carmen Tanner 10. The persistence of gender inequality in the workplace: Still a long way to go? Clara Kulich and Janine Bosak 11. Sharing economy Barbara Hartl and Eva Hofmann 12. Basic income: Insights from social experiments and simulations Maximillian Sommer 13. Status quo and future research avenues of tax psychology Katharina Gangl 14. Happiness and economic prosperity Olga Stravrova and Simon Asbach Index

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Book SynopsisElgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary. Since the financial crisis of 2008, the anthropological study of economic activity has profoundly changed. A Research Agenda for Economic Anthropology poses new questions for anthropologists about the post-recession world, interrogating common social and political assumptions and stimulating innovative directions for research in economic anthropology. Employing a broad range of intellectual orientations, this comprehensive book tackles the most pressing developments in economic anthropology. The stimulating and thought-provoking chapters engage with the major features of modern economies, including inequality, debt, financialisation, neoliberalism and the ethics of economic practice, as well as with the effects of social mobilisation and activism. The contributors shed light on previously overlooked topics, reassess familiar subjects that need a fresh approach and share their own predilections concerning the modern economic world. With contributors ranging from senior academics to those early in their career, this work is critical reading for any anthropologist concerned with the economy and economic activity. Those searching for novel questions or for a sense of the direction of the discipline will particularly benefit from this book's broad, inquisitive approach. Economic sociologists and geographers will also gain from the comprehensive coverage of the many facets of modern economies. 'The chapters in James Carrier's provocative new collection give us stimulating ideas that set us well on the way to a new kind of economic anthropology. Anybody who finds themselves simultaneously fascinated and yet puzzled by what seems to be the ever more ''economized'' kind of society we live in will find much to attract them in these wide-ranging pages. And this won't just be anthropologists (or broad-minded economists), but students old and young, some seeking a new take on an old issue - markets and the state, inequality, or ethical action; others instead urged to reach toward new challenges - expanding our ideas of ''management'', thinking about resources along a time dimension, or reflecting on how politics is expressed in the language of finance. And there is much more. The opposite of a comprehensive ''wrapping-up'' exercise, this lively collection provides us with a distinct set of starting points that take us into exciting new fields within, and well beyond, economic anthropology. Lively, challenging and rewarding reading.' - Gavin Smith, University of Toronto, Canada and the National University of IrelandTrade Review'This excellent collection of essays by junior and senior scholars is an appeal to rejuvenate economic anthropology and it does so brilliantly. Setting a research agenda requires engagement, focus, and the courage to point at ongoing inadequacies while highlighting future avenues of research. Through theoretical debates that address legal fictions, nature and value, debt and politics, mobilization and ethics, the chapters provide new scope for understanding the economy at multiple scales. Often neglected in social anthropology, corporations, management and the deplorable are spotlighted as objects of study in a remarkable volume that drives us to explore the economic frontiers of the twenty-first century.' --Susana Narotzky, University of Barcelona, Spain'This book is the best possible sign that economic anthropology is having a true renaissance, forging important connections with a whole array of contemporary issues. This Research Agenda is truly a blueprint for the future of the field.' --Richard Wilk, Open Anthropology Institute, US'James Carrier's A Research Agenda for Economic Anthropology offers anthropology the makings of a new canvas for understanding the role of economy as it unfolds before us. An important new volume.' --Michael Blim, City University of New York Graduate Center, USTable of ContentsContents: Introduction James G. Carrier 1. Collective economic actors Greg Urban 2. Research directions on states and markets Felix Stein 3. Inequality Tom Neumark 4. Debt, financialisation and politics Fabio Mattioli 5. Resources: Nature, value and time Jaume Franquesa 6. Management Stefan Leins 7. Mobilisation, activism and economic alternatives Valeria Siniscalchi 8. Ethical economic practice Andreas Streinzer 9. An anthropology of the Deplorable Mark Moberg Index

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Book SynopsisOffering a novel view on morality in consumption, this book creatively examines how the seven deadly sins - pride, greed, lust, gluttony, envy, wrath, and sloth - are embodied in contemporary consumer society. Each of the seven chapters summarizes previous literature of the sins across disciplinary boundaries, and explores how consumption is likely to change in the future.The sins are presented as social, historical, cultural and political constructs, relying on the underlying assumptions of cultural consumer research. Each is elaborated on within particular consumption and marketing-related spheres, including advertising, retail environment, convenience food consumption, poverty, and ethical consumption. Consequently, the book provides a new way to understand contemporary consumer culture. Although beginning with the dark notions of sinfulness, the authors conclude with a hopeful tone for positive transformations in consumption.This fascinating book will be of significant interest to consumer researchers and post-graduate students studying the effects of consumption in social science disciplines, including marketing, business and sociology. Contributors include: L. Alhonnoro, P. Berg, P. Borisov, J. Gummerus, K. Hellén, A. Huuhka, M.-M. Jaskari, H. Kauppinen-Räisänen, P. Laaksonen, H. Leipämaa-Leskinen, H.T. Luomala, A. Norrgrann, C. Rodríguez Santos, J. Sihvonen, H. Syrjälä, M. Sääksjärvi, L.L.M. Turunen, C. von KoskullTrade Review'This anthology is a theoretically innovative study of the seven deadly sins in contemporary consumer culture. It is a much wanted in-depth understanding of the sins' emergence, meanings and consequences in consumer culture that allow us to realize their complexity and the importance of considering both micro, mezzo and macro/supra levels as well as reciprocal interactions in-between. The book offers an important reflection of the ambiguous interpretations of the seven deadly sins in today's consumer culture and is both an intriguing and challenging endeavour.' --Karin M. Ekstroem, University of Boras, Sweden'Seven Deadly Sins in Consumption is an intellectually inspiring and fun scholarly account of the fundamental desires and emotions that drive us in contemporary consumer culture - an excellent example of the scholarship and exceptional creativity of the community that is now known as the Vaasa School of Consumer Research.' --Johanna Moisander, Aalto University School of Business, Finland'Versions of the seven deadly sins have haunted consumption for thousands of years. Losing some of their former religious sting, they have become sins against the environment, equality, and humility in an age of self-promotion. Drawing on multiple theoretical and methodological perspectives, this engaging volume brings fresh force to each vice.' --Russell Belk, York University, CanadaTable of ContentsContents: Introduction Henna Syrjälä and Hanna Leipämaa-Leskinen 1. PRIDE Silenced pride in scarce consumption Hanna Leipämaa-Leskinen, Henna Syrjälä and Pirjo Laaksonen 2. GREED Multilevel study of greed in marketing students’ consumption Minna-Maarit Jaskari, Päivi Borisov and Henna Syrjälä 3. LUST Sex Sells? Lust in fashion magazine advertising Jenniina Sihvonen, Linda Lisa Maria Turunen and Carmen Rodriguez-Santos 4. GLUTTONY No taste without the waste? Gluttony in bakery product retailing Lotta Alhonnoro and Anu Norrgrann 5. ENVY Narcissistic human traits predicting benign and malicious envy Katarina Hellén, Maria Sääksjärvi and Hannele Kauppinen-Räisänen 6. WRATH Wrath in consumer oppositional activism Catharina von Koskull, Petra Berg and Johanna Gummerus 7. SLOTH Conceptualizing the experience sloth in the convenience seeking consumption Ari Huuhka and Harri Luomala Index

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Book SynopsisFinancial markets are complex. Regulators strive to predict ways in which they can malfunction and create rules to prevent this from happening, yet behavioural impacts are often overlooked. This book explores how behavioural finance can go hand-in-hand with traditional methods to help banks and regulators create better policies. It also demonstrates how the behavioural finance revolution has opened the way to a more integrated approach to the analysis of economic phenomena. This book adopts a forward-looking agenda that takes account of existing practices based on behavioural science. It focuses on how to make financial markets an arena for fair play as a central criterion for securing and enhancing societal well being. It examines how bounded rationality, heuristic decision making, aversion to losses, endowment effects and social preferences may impact financial decisions, thus exposing the flaws in traditional forecasting methods that rely on an over-simplified representation of the individual. With contributions from both academics and practitioners, this book will be fundamental reading for researchers in the finance and behavioural economics. Regulators who wish to utilise behavioural policymaking will also find this a beneficial read.Contributors include: B. Alemanni, C. Attia, M. Bianco, G. Bracchi, E. Cervellati, C. Cruciani, G. De Felice, M. Egidi, U. Filotto, F. Franceschi, G. Gardenal, G. Gigerenzer, C. Giorgiantonio, D. Hilton, N. Linciano, A. Lojschova, D. Masciandaro, B. Mojon, P. Mottura, S. Mousavi, A. Penalver, L. Portelli, U. Rigoni, S. Rossi, Z. Rotondi, G. Sillari, A. Varaldo, R. Viale, G. ZeviTrade Review'10 years on from the global financial crisis, large gaps remain in our understanding of how to design effective financial policies and regulations, reflecting the fact that many policymakers have a limited understanding of what drives financial choices and decisions in the real world. In filling this gap, The Behavioural Finance Revolution collects together pathbreaking, insightful contributions from the perspective of real human behaviour. Key lessons from this impressively wide-ranging volume have the potential to transform financial regulation and policymaking for decades to come.' --Michelle Baddeley, University of South Australia'The collective contributions in this important volume carve out a new path for how boundedly rational policymakers can structure sensible regulations for a world dominated by boundedly rational agents.' --Hersh Shefrin, Santa Clara University, USTable of ContentsContents: Salvatore Rossi Foreword Introduction Barbara Alemanni, Umberto Filotto, Shabnam Mousavi, Riccardo Viale Part I The Many Faces Of Finance In The Academia 1. Understanding Financial Behaviour For Better Policy Making: An Introduction Riccardo Viale 2. Behavioral Policymaking With Bounded Rationality Shabnam Mousavi 3. A Taxonomy Of Behavioural Policies Barbara Alemanni 4. Do Regulators Know Better? Umberto Filotto 5. Behavioral Finance And Non-Conventional Monetary Policies Benoit Mojon, Adrian Penalver And Adriana Lojschova 6. The Psychology Of Financial Choices: From Classical And Behavioral Finance To Neurofinance Massimo Egidi And Giacomo Sillari 7. Behavioral Re-Evolution: How Behavioral Economics Has Evolved And Is Evolving Enrico Maria Cervellati 8. Evolutionary Regulation And Financial Behavior Paolo Mottura 9. A View On Recent Advances In Behavioural Macroeconomics And Their Lessons For The Policymaker Giordano Zevi Part II Finance From The View Point Of Psychology, Banks, Regulators, And The Industry 10. The Heuristics Revolution: Rethinking The Role Of Uncertainty In Finance Gerd Gigerenzer 11. The Psychology Of Financial Incompetence: Past, Present And Future Denis Hilton And Caroline Attia 12. Behavioral Finance: From Financial Consumer Protection To Financial Education Magda Bianco And Francesco Franceschi 13. Behavioral Impact Of Policies For The Start-Up And Venture Capital Ecosystem Giampio Bracchi 14. Investors’ Inconsistencies And The Need For Better Financial Literacy Gregorio De Felice 15. How Behavioral Finance Can Reshape Financial Consumer Protection: Consob’s First Steps In The European Framework Nadia Linciano 16. When Central Bankers Become Humans: Behavioural Economics And Monetary Policy Decisions Donato Masciandaro 17. Trust The Change? Trust And The Impact Of Policy Making: The Case Of The Introduction Of The Mifid 2 Directive In The Financial Advisory Industry Ugo Rigoni, Caterina Cruciani And Gloria Gardenal 18. CMU And Role Of Institutional Investors: Investment Behavior And Governance Of Pension Funds Zeno Rotondi And Cristina Giorgiantonio 19. The Italian Household Wealth And Their Financial Attitude: The New Environment And A New Approach Alessandro Varaldo And Lorenzo Portelli Index

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Book SynopsisCultural economics has become well established as a subject of interest for students and instructors of courses ranging from economics to arts administration as well as for policy-makers and practitioners in the creative industries. Digitization has had a tremendous impact on many areas of the creative economy and the third edition of this popular book fully reflects it. The Handbook of Cultural Economics is an acknowledged leading source for students, teachers and others interested in finding out about the subject. Cultural economics covers a wide range of topics and they are reflected in the many short and accessibly written chapters. Each chapter is written by a specialist in the subject and offers both suggestions for further reading and cross-references to other related chapters in the book. It therefore combines accessibility with depth of knowledge. The intention of the book is to introduce the reader to the various topics and to testify to the strength of economics in explaining the economic aspects of the world of the arts and creative industries. The third edition demonstrates the huge impact that digitization has had on production and consumption in the sector. While being accessible to any reader with a basic knowledge of economics, it presents a comprehensive study at the forefront of the field for students and teachers of economics, business economics, creative industries, and media and arts administration as well as for policy-makers. Contributors include: O. Ashenfelter, V. Ateca Amestoy, M. Bacache-Beauvallet, W. Baumol, P. Belleflamme, P.J. Benghozi, F. Benhamou, T. Bille, M. Blaug, K. Borowiecki, M. Bourreau, S. Cameron, D.C. Chisholm, F. Colbert, T. Cuccia, C. Dalla Chiesa, J. Denis, P. Di Caro, G. Doyle, J. Farchy, V. Fernandez-Blanco, B. Frey, O. Gergaud, V. Ginsburgh, M. Gómez-Vega, K. Graddy, A. Haddida, C. Handke, L.C. Herrero-Prieto, M. Hutter, W.M. Landes, M. Lavanga, Y.-H. Liu, I. Mazza, C. McAndrew, J. McKenzie, T. Navarrete, D. Netzer, J.W. O Hagan, T. Orme, M. Peitz, J. Prieto-Rodriguez, H. Ranaivoson, M. Rushton, G. Schulze, B. Seaman, S. Shin, J. Snowball, D. Throsby, R. Towse, O. Velthuis, R. Watt, J. Waldfogel, G. Withers, M. ZiebaTrade Review'Ruth Towse and Trilce Navarrete Hernandez are leading lights in cultural economics, and the third edition of the Handbook of Cultural Economics once again is the go-to source for research and wisdom in this area of research, impressive for both its depth and breadth.' --Tyler Cowen, George Mason University, USTable of ContentsContents: Preface xi Introduction 1 Ruth Towse and Trilce Navarrete Hernández 1 Application of welfare economics to the arts 9 William J. Baumol 2 Art auctions 19 Orley Ashenfelter and Kathryn Graddy 3 Art dealers 29 Olav Velthuis 4 Artificial intelligence 38 Joëlle Farchy and Juliette Denis 5 Artists’ labour markets 46 Trine Bille 6 Artists’ resale rights 56 Victor Ginsburgh and Clare McAndrew 7 Artists’ rights 66 Michael Rushton 8 Broadcasting 72 Glenn Withers 9 Business models 82 Pierre-Jean Benghozi 10 Contingent valuation 95 Tiziana Cuccia 11 Contract theory and information goods 106 Richard Watt 12 Copyright 116 William M. Landes 13 Cost of production 129 Víctor Fernández-Blanco and Juan Prieto-Rodríguez 14 Creative industries 137 Ruth Towse 15 Creativity 145 Karol Jan Borowiecki 16 Criticism 154 Samuel Cameron 17 Crowdfunding 158 Carolina Dalla Chiesa and Christian Handke 18 Cultural capital 168 David Throsby 19 Cultural districts 174 Mariangela Lavanga 20 Cultural diversity 183 Heritiana Ranaivoson 21 Cultural entrepreneurship 192 Mark Blaug and Ruth Towse 22 Cultural statistics 197 David Throsby 23 Cultural value 206 Jen D. Snowball 24 Demand 216 Jordi McKenzie and Sunny Y. Shin 25 Digital piracy 228 Jordi McKenzie 26 Digitization in the cultural industries 235 Joel Waldfogel 27 Economic impact of the arts 241 Bruce A. Seaman 28 Event cinema 254 Allègre L. Hadida 29 Festivals 262 Bruno S. Frey 30 Google Trends data 266 Olivier Gergaud and Victor Ginsburgh 31 Heritage 279 Françoise Benhamou 32 Information goods 287 Michael Hutter 33 Intangible cultural heritage 294 Tiziana Cuccia 34 Intermediaries 304 Paolo Di Caro, Luigi Di Gaetano and Isidoro Mazza 35 International trade 311 Günther G. Schulze 36 Marketing the arts 320 François Colbert 37 Media economics and regulation 329 Gillian Doyle 38 Motion-picture industry 339 Darlene C. Chisholm and Yu-Hsi Liu 39 Museums 349 Víctor Fernández-Blanco and Juan Prieto-Rodríguez 40 Music industry 358 Christian Handke 41 Music publishing 371 Ruth Towse 42 Non-profit organizations 379 Dick Netzer (updated by Bruce A. Seaman) 43 Orchestras 392 Luis César Herrero-Prieto and Mafalda Gómez-Vega 44 Participation 399 Victoria Ateca-Amestoy 45 Performance indicators 408 Trilce Navarrete Hernández 46 Performing arts 415 Ruth Towse 47 Platforms 421 Maya Bacache-Beauvallet and Marc Bourreau 48 Political economy 430 Isidoro Mazza 49 Pricing the arts 441 Michael Rushton 50 Public support 449 Bruno S. Frey Index

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Book SynopsisExploring the modern approach to the economics of happiness, which came about with the Easterlin Paradox, this book analyses and assesses the idea that as a country gets richer the happiness of its citizens remains the same. The book moves through three distinct pillars of study in the field: first analysing the historical and philosophical foundations of the debate; then the methodological and measurements issues and their political implications; and finally empirical applications and discussion about what determines a happy life.A Modern Guide to the Economics of Happiness extends the concept of happiness to that of wellbeing, offering an inquiry into well-being within the paradigm of complex systems. It draws together both recent developments in studies on the economics of happiness as well as its historical roots, covering the concept of Eudaimonia, Aristotle’s theories and the important contribution of Italian economists. Critical case studies look at the relationship between physical activity and wellbeing, the value of family for life satisfaction, and the role of social capital for migrant acceptance.An invigorating read for economics and psychology scholars, this book will also be of interest to those researching welfare and development economics.Table of ContentsContents: 1 Happiness and wellbeing: past foundations, modern evidence and future paths 1 Luigino Bruni, Dalila De Rosa and Alessandra Smerilli 2 What future happiness research? 17 Bruno Frey PART I HISTORICAL AND PHILOSOPHICAL PERSPECTIVES ON THE ECONOMICS OF HAPPINESS 3 Aristotle, eudaimonia, neuroscience and economics 29 Jeffrey Sachs 4 The economics of eudaimonia 46 Maurizio Pugno 5 Felicitas publica : the southern spirit of capitalism 67 Luigino Bruni 6 ‘Naturaliter homo homini amicus est’: economy, happiness and relationships in Aquinas’ thought 95 Paolo Santori PART II METHODS AND POLICY IMPLICATIONS FOR THE ECONOMICS OF HAPPINESS 7 Complexity and wellbeing: measurement and analysis 113 Filomena Maggino and Leonardo Salvatore Alaimo 8 Growth and happiness in China, 1990–2015 129 Richard A. Easterlin, Fei Wang and Shun Wang 9 Economic growth and well-being beyond the Easterlin paradox 162 Francesco Sarracino and Kelsey J. O’Connor PART III EMPIRICAL APPLICATIONS IN THE ECONOMICS OF HAPPINESS 10 The effect of physical activity on subjective well-being: the case for exercise 190 Mario Lucchini, Egidio Riva and Luca Crivelli 11 Standing together: is family a resilience factor for subjective wellbeing? 215 Dalila De Rosa and Matteo Rizzolli 12 Cooperatives and happiness: cross-country evidence on the role of relational capital 243 Luigino Bruni, Dalila De Rosa and Giovanni Ferri 13 The relationship between migrant acceptance and wellbeing: evidence from the Gallup Migrant Acceptance Index 279 Neli Esipova, Julie Ray and Anita Pugliese Index 305

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Book SynopsisThis innovative book explores how the design of financial education programmes could benefit from the findings of behavioural economics and finance and cognitive sciences. It covers the social, cultural and technological determinants of financial education, the role of the banking system in promoting financial literacy, and how governments and regulatory authorities are dealing with financial education and risk literacy programmes in schools.Featuring contributions from authors with diverse methodological and ideological backgrounds, Financial Education and Risk Literacy offers a rich and multifaceted debate. Chapters explore theory and empirical evidence, utilising investigations of programmes deployed and the outcomes of experiments. This book also complements the emerging literature by studying how individuals perceive and process information when making financial decisions.Economics students and scholars, in particular those studying behavioural economics, will appreciate the forward-looking agenda of this book. Its insights into how policymakers can benefit from a behavioural approach will also help regulators in the financial education sector.Trade Review’In today’s environment, financial education and risk literacy continue to be essential elements for individuals and organizations worldwide. This book provides keen insights from leading authorities worldwide on how best to improve financial education and risk literacy. Perhaps the traditional 3Rs (Reading, wRiting, and aRithmetic) should be extended to include a fourth R, being Risk, which would apply in the context of financial literacy and financial education. Enjoy the book - it is well worth the money!’ -- - Jay Liebowitz, Harrisburg University of Science and Technology, USTable of ContentsContents: Foreword by Salvatore Rossi x Introduction 1 Riccardo Viale and Umberto Filotto PART I FINANCIAL LITERACY AND FINANCIAL EDUCATION: RECOMMENDATIONS, EVIDENCE AND POLICY IMPLICATIONS 1 Broadening the scope of financial literacy to incorporate self-control, budgeting and heuristics 5 Hersh Shefrin 2 How financial decisions are affected by financial literacy levels, behavioral aspects and individual propensities: an empirical analysis of Italian young adults 29 Gian Paolo Stella, Umberto Filotto and Enrico Maria Cervellati 3 From financial education to economic education for citizenship 48 Anna Emilia Berti 4 Financial education in times of digitalization and FinTech (r)evolution 60 Rossella Locatelli and Alessandra Tanda 5 Financial and demographic education effectiveness in academic and vocational high schools: a randomised experiment 75 Luca Maria Pesando, Francesco C. Billari, Carlo Favero and Francesco Saita 6 Business education: do values make a difference? 96 Malte Petersen, Monika Keller, Jürgen Weibler and Wasilios Hariskos 7 Learning to wait, be altruistic, and fair: a primary school training in economic education 112 Antonella Marchetti, Teresa Rinaldi, Elisabetta Lombardi, Davide Massaro and Annalisa Valle 8 Financial education in action for socially fragile groups 123 Giovanna Paladino 9 Enhancing financial knowledge and risk literacy through edutainment: CONSOB’s experience 135 Nadia Linciano PART II RISK LITERACY AND FINANCIAL DECISION-MAKING 10 Boosting and nudging: two paths toward better financial decisions 150 Ralph Hertwig and Till Grüne-Yanoff 11 Cultural Finance: how is financial information received? 181 Barbara Alemanni and Shabnam Mousavi 12 Using experiments to inform consumer protection policy in financial services 197 Shane Timmons and Peter D. Lunn 13 Risk seeking or risk averse? Phenomenology and perception 220 Caterina Lucarelli, Mario Maggi and Pierpaolo Uberti 14 Old age and the decline in investment performance 236 Michael S. Finke and Sandra J. Huston 15 The need for entrepreneurs’ risk literacy: evidence from Italian SMEs and a call to arms 250 Enrico Maria Cervellati 16 The effect of ex-post information in choice under ambiguity 262 Francesco D. Zaffuto, Mateus Joffily and Giorgio Coricelli 17 Financial education among Italian SMEs 272 Fabrizio Guelpa 18 Finance, technology and financial education 279 Cristina Giorgiantonio and Zeno Rotondi Index 291

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Book SynopsisElgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary.Written by well-established researchers in behavioural economics, this Research Agenda illustrates the application of incentivised decision-making experiments, highlighting how this can add a new and novel dimension to social science research. Informative and timely, it explores how experiments are being used by pioneers in a diverse range of fields when research questions may not be amenable to field studies, vignettes or surveys.Offering fruitful cross-disciplinary discussions, the chapters look at incentivised decision-making experiments in the study of: social norms, law and economics, environmental regulations, entrepreneurship, healthy behaviour, gender and leadership, political ideology, and neuroeconomics. Chapters provide an opportunity for experienced experimental economists to develop more innovative applications of their tools and scope for less experienced scholars to learn how to incorporate experiments in their research questions. Researchers in economics, political science, sociology, as well as business and management will find this to be a beneficial read. Policy makers looking to understand how experimental tools and behavioural nudges are used to improve policy will also appreciate the key theoretical and practical applications of the topics offered in this Research Agenda.Trade Review‘A definite advantage of A Research Agenda for Experimental Economics is its focus on the most recent developments in specific areas within behavioural economics. The contributing authors demonstrate both a high level of professional expertise and genuine passion for the featured topics. Another strength of the book is its attempt not only to discuss the current state of research in particular fields, but also to provide readers with future directions. Each chapter elaborates on possible (and sometimes even desirable) avenues within the discussed topic. Overall this book is a strong illustration of how broad and absorbing economics is and the importance of multidisciplinarity. Furthermore, there is no path dependence in the collection, so if a reader is interested in a particular topic, they can easily delve into it directly.’ -- Ananish Chaudhuri, LSE Review of Books‘In A Research Agenda for Experimental Economics, Ananish Chaudhuri provides a thoughtful, albeit eclectic collection of chapters on the state of the literature in experimental economics. The set of authors is impressive. Chaudhuri has produced a volume that will do much to promote discussion about innovative, interdisciplinary collaborations.’ -- Alexander Smith, Journal of Economic Psychology‘This edited volume by Ananish Chaudhuri will become standard reading for anyone interested in keeping up with the latest developments in the field of experimental economics. The collection will appeal to a broad audience, and promises to be an important reference for scholars not just of economics, but of sociology, politics, psychology, law and environmental studies.’ -- Abhijit Ramalingam, Journal of Behavioral and Experimental Economics‘This adventurous collection samples widely from interesting domains of economics experiments. It touches all the important themes in why lab control is so extraordinarily useful for understanding general economic principles, and what we can look forward to.‘Table of ContentsContents: 1 Introduction to A Research Agenda for Experimental Economics 1 Ananish Chaudhuri PART I 2 An informational framework for studying social norms 19 James Tremewan and Alexander Vostroknutov 3 Experiments in law and economics 43 Alice Guerra 4 Complying with environmental regulations: experimental evidence 69 Timothy N. Cason, Lana Friesen and Lata Gangadharan 5 Behavioural characteristics, stability of preferences and entrepreneurial success 93 Pushkar Maitra and Ananta Neelim 6 Experimental evidence on behavioural nudges in health 119 John Gibson PART II 7 The gender leadership gap: insights from experiments 137 Catherine Eckel, Lata Gangadharan, Philip J. Grossman, and Nina Xue 8 Experiments in political psychology 163 Kyle Fischer, Quentin D. Atkinson, and Ananish Chaudhuri 9 Neuroeconomics 191 Sarah Cowie, Ian Kirk, and Olav Krigolson 10 Sleep and decision-making 213 David L. Dickinson Index

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Book SynopsisIdentifying customer loyalty as a crucial success factor in contemporary marketing thinking and practice, this innovative Handbook incorporates a rich collection of perspectives on the current topics and research-driven practices in the field. Leading scholars offer an insightful reimagining of the research methods, metrics, and designs for the future of measuring and predicting customer loyalty.The Handbook recognises loyalty as a strategic asset, and analyses incentive structures such as loyalty-based learning, gamification, and automaticity to track the evolution of customer loyalty programmes. Examining the impacts of globalization and cutting-edge technologies on the customer loyalty journey, it identifies an increase in customer defection and a rapid erosion of single-brand loyalty. Forward-thinking, it concludes by reflecting on how trends like voice technology, augmented reality, and influencer marketing will shape the domain of customer loyalty in the future.Gathering together contemporary concepts, practice, measures and challenges to inform future research, this Handbook will prove an enlightening read for students and scholars of marketing, business and management, and psychology. Its illustrative case studies will also prove invaluable for practitioners in a diverse range of fields looking to future-proof and reimagine their loyalty strategies.Trade Review‘The Handbook of Research on Customer Loyalty is a must have for loyalty practitioners. This treasure chest of insights from some of the world's leading authorities in loyalty marketing combines cutting edge theoretical concepts with practical illustrations and operational know-how.’ -- Ryan Faithfull, Global Offering Manager - Know Your IBM (KYI)‘Finally a book that effectively blends academic concepts and theories, with future predictions, real life insights and case studies in loyalty marketing. I really loved the pragmatic and common sense approach which is exactly what businesses are looking for now when trying to build customer loyalty. The Handbook of Research on Customer Loyalty is a must have for any person who is operating a loyalty program or interested in the concept of customer loyalty. This is a really valuable tool carefully curating insights on relevant topics within loyalty marketing research from some of the world's leading experts. A must have!’ -- Tony Wood, Senior Partner, Mercer & Managing Director Continental Europe, Mercer Marsh Benefits, UK‘Debbie Keeling, Ko de Ruyter, and David Cox—in collaboration with 45 colleagues from around the world—bring an overview of the state of research-driven customer-loyalty practice, offer insights in research methods, metrics, and designs for measuring customer loyalty, put forward observations on programmatic approach to customer loyalty, and, finally, attempt to reimagine customer loyalty research. I especially appreciated the six chapters at the end of the Handbook, as they offer interesting avenues for future research on customer loyalty. I am confident in predicting the Handbook will be a valuable resource for scholars and practitioners alike. Kudos all around to the team behind the Handbook.’ -- Adam Lindgreen, Copenhagen Business School, Denmark and University of Pretoria, South AfricaTable of ContentsContents: 1 Introduction to the Handbook of Research on Customer Loyalty 1 Debbie I. Keeling, Ko de Ruyter and David Cox PART I PUTTING CUSTOMER LOYALTY INTO PERSPECTIVE – THE STATE OF RESEARCH-DRIVEN PRACTICE 2 A review of perspectives on customer loyalty 5 Kathy A. Keeling 3 A twenty-year review of brand and customer loyalty patents and academic literature 23 Charles V. Trappey, Amy J. C. Trappey, Annie A. S. Li and Richard Feinberg 4 The customer loyalty journey – technology enabled loyalty touchpoints 42 Mathew Chylinski and Jonas Heller 5 Customer loyalty – an international perspective 55 Aqeel Faisal A. Kadasah 6 Ethical dilemmas in terminating undesired (loyal) customers 70 Ting Yu and Michael Schwartz PART II RESEARCH METHODS, METRICS AND DESIGNS FOR CUSTOMER LOYALTY 7 Customer experience measurement: implications for customer loyalty 83 Francisco Villarroel Ordenes, David Díaz Solis and Dennis Herhausen 8 Capturing complex, dynamic customer loyalty by integrating traditional and big data analyses 95 Ce (Jacky) Mo and Ting Yu 9 Voice in customer loyalty research 107 Bitty Balducci and Detelina Marinova 10 Predictive approaches to customer loyalty: the impact of missing data on the predictability of customer loyalty models 129 Dominik M. Piehlmaier 11 Customer disloyalty: an interactive introspection 142 Maja Golf-Papez and René Moolenaar PART III PROGRAMMATIC APPROACHES TO CUSTOMER LOYALTY 12 The rewards portfolio 153 David Cox 13 Loyalty-Based Learning (LBL) in channel enablement programmes 164 Debbie I. Keeling and Ko de Ruyter 14 Play, games and gamification: possibilities for customer loyalty 173 Joey Lam, Karen Robson, Kirk Plangger, Jan Kietzmann, Ian McCarthy and Leyland Pitt 15 In search of loyalty programme soft benefits: a social capital perspective 189 David Cox 16 Nudging and marketing communications: a regulatory focus perspective 202 Ilia Protopapa and Stavros P. Kalafatis 17 Loyalty programmes: cases in points 216 David Cox 18 Habitual behaviour: design for automaticity during customer loyalty decisions 228 Dominik Mahr, Tim Hilken and Timna Bressgott 19 The journey from non-audiences to loyal audiences: a case study of a performing arts theatre 244 Yu-Chien Chang and Dirk vom Lehn PART IV REIMAGINING CUSTOMER LOYALTY RESEARCH 20 Six dilemmas for customer loyalty and sustainability 258 Fatima Wang 21 Building customer loyalty with augmented reality: current and future trends 274 Tim Hilken, Dominik Mahr and Dai-In Danny Han 22 Fostering customer loyalty using technology 291 Elisa B. Schweiger and Dhruv Grewal 23 If you post, they will follow: understanding the dynamics of the influencer marketing industry 306 Gillian Brooks and Mikołaj Piskorski 24 Role of AI in enhancing customer engagement, loyalty and loyalty programme performance 316 Choukri Menidiel, Linda D. Hollebeek, Anu Leppiman and Iivi Riivits-Arkonsuo 25 Redefining consumer relationships through voice technologies 332 Matteo Montecchi, Kirk Plangger, Anouk de Regt and Adam J. Mills Index

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Book SynopsisOffering an in-depth overview of the field's past, present, and future, this Handbook provides a comprehensive analysis of the current topics, methodologies, findings, and breakthroughs in research conducted with the help of experimental finance methodology. Suggesting innovative ways of navigating and structuring financial markets, it also showcases the diversity and promise of using experiments in finance.With contributions from leading experts, the Handbook begins with a series of investigations into human behavior in financial decision-making, asking methodological questions regarding subject pool choice, cognitive finance, physical and physiological measurement, and research directions. Stressing the dual nature of experimental finance, chapters then relate to market experiments by exploring applied topics, including bank runs, financial accounting and nudging. Finally, it examines experimental tools and methodologies, critical perspectives, roadmaps for implementation, and empirical testing of finance theories. With examples of experiments that test the fundamental theoretical constructs in finance, this Handbook will prove a vital resource to students and scholars of finance, financial economics, and experimental methodology. It will also prove useful to practitioners and policymakers looking to innovate and experiment with their approaches to financial decision-making.Trade Review‘The key aim of this Handbook is “to showcase the diversity of experimental finance topics and solidify the distinctiveness of experimental finance as a stand-alone ‘field’ from experimental economics” (p.1). This is intended to educate and to influence for all readers including uninitiated readers. At the end of studying this Handbook, all readers are convinced that this aim is accomplished. This is congratulatory for the eminent editors and all the contributors of 31 chapters, each focusing on a unique topic and contribution, in this excellent Handbook.’ -- FPI Journal of Economics and GovernanceTable of ContentsContents: Introduction to the Handbook of Experimental Finance 1 Sascha Füllbrunn, Ernan Haruvy PART ONE BASIC RESEARCH 1 Current and possible future research directions in experimental finance 12 Charles Noussair 2 Experiments in finance: From no to maybe to yes! 17 Pascal Kieren, Martin Weber 3 The complementarity of experimental and archival finance research 26 Lucy F. Ackert, Hong Qu 4 Physiological measures in experimental finance 41 Eyal Ert, Abigail Hurwitz, Sven Nolte 5 Ambiguity, experience and unforeseen events in experimental finance 54 Stefan T. Trautmann 6 Experimental finance and financial professionals 64 Sascha Füllbrunn, Christoph Huber, Christian König-Kersting 7 Cognitive finance 73 Ciril Bosch-Rosa, Brice Corgnet 8 The perils of a blanket model: Financial anomalies and loss aversion 89 Eldad Yechiam 9 Testosterone and financial risk taking 98 John Dinsmore, Eric Stenstrom, Marcelo Vinhal Nepomuceno 10 On attention to information: The checking paradox 105 Yefim Roth, Ofir Yakobi 11 The double-channeled effects of experienced payoffs in investment decisions 117 Peiran Jiao 12 Investing other people’s money 132 Sascha Füllbrunn, Ola Kvaløy, Wolfgang Luhan 13 From the field to the lab: Professionals and bidding aggression 145 Timo Heinrich, Matthew James Walker 14 Coordination games: Escaping the straitjacket 152 Christos A. Ioannou PART TWO APPLIED RESEARCH 15 Perishable goods versus re-tradable assets: A theoretical reappraisal of a fundamental dichotomy 162 Sabiou M. Inoua, Vernon L. Smith 16 Pairing multi-market theory with experiments 172 Elena Asparouhova, Peter Bossaerts, Sean Crockett 17 The effect of favorable and unfavorable information on asset prices 194 Charles Noussair, Steven Tucker, Mark Ryan 18 Market experiments with multiple assets: A survey 213 John Duffy, Jean Paul Rabanal, Olga A. Rud 19 Individual evolutionary learning and zero-intelligence in the continuous double auction 225 Jasmina Arifovic, Anil Donmez, John Ledyard, Megan Tjandrasuwita 20 Using results from learning to forecast laboratory experiments to predict the effect of futures markets on spot market stability 250 Johan de Jong, Joep Sonnemans, Jan Tuinstra 21 Are you experienced? How the time spacing of traders’ market experience impacts bubble formation in experimental asset markets 267 Jason Shachat, Hang Wang 22 Monetary policy and cash flow irregularity as drivers of asset price bubbles: An experimental study 281 Dragana Draganac, Miloš Božović 23 Algorithmic trading in experimental markets with human traders: A literature survey 302 Te Bao, Elizaveta Nekrasova, Tibor Neugebauer, Yohanes E. Riyanto 24 Asset market experiments with diverse information 323 Dominik Schmidt, Thomas Stöckl 25 Experimental bank runs 347 Hubert J. Kiss, Ismael Rodriguez-Lara, Alfonso Rosa-Garcia 26 Experiential learning in finance education – Applying experimental finance methodology 362 Éva Kaczkó, Michael Razen 27 Experimental research in financial accounting 375 Daniel Reimsbach, Karen De Meyst 28 Corporate governance experiments 384 Ernan Haruvy 29 Nudging and RCTs in finance: A review of recent literature 395 Réka Heim, Jürgen Huber 30 A critical perspective on the conceptualization of risk in behavioral and experimental finance 408 Felix Holzmeister, Christoph Huber, Stefan Palan 31 Stated risk preference predicts risk appetite in structured investment 414 Doron Sonsino, Yaron Lahav, Yefim Roth Index 423

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Book SynopsisElgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary. Since the financial crisis of 2008, the anthropological study of economic activity has profoundly changed. A Research Agenda for Economic Anthropology poses new questions for anthropologists about the post-recession world, interrogating common social and political assumptions and stimulating innovative directions for research in economic anthropology. Employing a broad range of intellectual orientations, this comprehensive book tackles the most pressing developments in economic anthropology. The stimulating and thought-provoking chapters engage with the major features of modern economies, including inequality, debt, financialisation, neoliberalism and the ethics of economic practice, as well as with the effects of social mobilisation and activism. The contributors shed light on previously overlooked topics, reassess familiar subjects that need a fresh approach and share their own predilections concerning the modern economic world. With contributors ranging from senior academics to those early in their career, this work is critical reading for any anthropologist concerned with the economy and economic activity. Those searching for novel questions or for a sense of the direction of the discipline will particularly benefit from this book's broad, inquisitive approach. Economic sociologists and geographers will also gain from the comprehensive coverage of the many facets of modern economies. 'The chapters in James Carrier's provocative new collection give us stimulating ideas that set us well on the way to a new kind of economic anthropology. Anybody who finds themselves simultaneously fascinated and yet puzzled by what seems to be the ever more ''economized'' kind of society we live in will find much to attract them in these wide-ranging pages. And this won't just be anthropologists (or broad-minded economists), but students old and young, some seeking a new take on an old issue - markets and the state, inequality, or ethical action; others instead urged to reach toward new challenges - expanding our ideas of ''management'', thinking about resources along a time dimension, or reflecting on how politics is expressed in the language of finance. And there is much more. The opposite of a comprehensive ''wrapping-up'' exercise, this lively collection provides us with a distinct set of starting points that take us into exciting new fields within, and well beyond, economic anthropology. Lively, challenging and rewarding reading.' - Gavin Smith, University of Toronto, Canada and the National University of IrelandTrade Review'This excellent collection of essays by junior and senior scholars is an appeal to rejuvenate economic anthropology and it does so brilliantly. Setting a research agenda requires engagement, focus, and the courage to point at ongoing inadequacies while highlighting future avenues of research. Through theoretical debates that address legal fictions, nature and value, debt and politics, mobilization and ethics, the chapters provide new scope for understanding the economy at multiple scales. Often neglected in social anthropology, corporations, management and the deplorable are spotlighted as objects of study in a remarkable volume that drives us to explore the economic frontiers of the twenty-first century.' --Susana Narotzky, University of Barcelona, Spain'This book is the best possible sign that economic anthropology is having a true renaissance, forging important connections with a whole array of contemporary issues. This Research Agenda is truly a blueprint for the future of the field.' --Richard Wilk, Open Anthropology Institute, US'James Carrier's A Research Agenda for Economic Anthropology offers anthropology the makings of a new canvas for understanding the role of economy as it unfolds before us. An important new volume.' --Michael Blim, City University of New York Graduate Center, USTable of ContentsContents: Introduction James G. Carrier 1. Collective economic actors Greg Urban 2. Research directions on states and markets Felix Stein 3. Inequality Tom Neumark 4. Debt, financialisation and politics Fabio Mattioli 5. Resources: Nature, value and time Jaume Franquesa 6. Management Stefan Leins 7. Mobilisation, activism and economic alternatives Valeria Siniscalchi 8. Ethical economic practice Andreas Streinzer 9. An anthropology of the Deplorable Mark Moberg Index

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Book SynopsisSituating a comprehensive microbehavioral analysis of the economics of climate change within a discussion of the most pressing global climate change issues and policy negotiations, the Handbook of Behavioral Economics and Climate Change is a timely collection of new research on the behaviors of economic agents that are essential to an exposition of climate change economics and policymaking.Chapters identify both microbehavioral causes of and responses to climate change by numerous economic agents, in doing so elucidating the relationship between climate policies and behavioral changes. This includes examination of individuals’ behaviors to cope with and adapt to climate change; the policy decisions aimed at altering behaviurs at individual, business, and international levels to achieve climate policy goals; and the motivations behind behaviours driven by culture, history, or religion with regards to climate change. These behaviors are contextualised within a global analysis of pressing climate change issues in land-based and ocean-based systems, including Sub-Saharan agriculture, hurricanes and sea-level rises in North America, Latin American Pampas, the small island alliance, South Asian rice agriculture, and hydroelectricity in the Himalayas.With a global scope, this Handbook will prove invaluable to students and scholars of climate change, environmental studies, and behavioral economics. With practical examples and case studies, it will also prove useful for policymakers working in climate legislation.Trade Review‘Niggol Seo has pulled together an extraordinary collection of perspectives from leading scholars on how behavioral economics might guide adaptation to the emerging reality of climate change. Offering an impressive survey of underlying theory, empirical analysis, and on-the-ground implications, the Handbook of Behavioral Economics and Climate Change explores a range of critical issues, geographic settings, and policy challenges.’ -- Daniel C. Esty, Yale University, USTable of ContentsContents: PART I EDITOR’S INTRODUCTION 1 Editor’s introduction to the Handbook of Behavioral Economics and Climate Change 2 S. Niggol Seo PART II OCEAN-BASED SYSTEMS: OCEANS AND COASTAL COMMUNITIES 2 The economics of tropical cyclone adaptation 33 Laura Bakkensen and Logan Blair 3 The economics of efficient adaptation to sea level rise 63 Robert Mendelsohn 4 Climate and cultivation in the Ganges-Brahmaputra-Meghna river delta 73 Jeffrey Chow, Alder Keleman-Saxena and Alark Saxena 5 Tropical cyclones in the small island developing nations in the world oceans: an economic analysis of the Green Climate Fund’s grant allocations 98 S. Niggol Seo, Alexander J. Felson and Janine Felson PART III LAND-BASED SYSTEMS: AGRICULTURE, WATER, AND NATURAL RESOURCES 6 Climate change and historical changes in rice yield in Thailand 118 Thanyaporn Chankrajang and Khemarat Talerngsri-Teerasuwannajak 7 Climate adaptation in the Indu-Gangetic Basin 143 Upali A. Amarasinghe, Alok Sikka and Lagudu Surinadu 8 Historical changes in the Pampas biome, land use, and climate change 162 Bruno Lanfranco, Enrique Fernández, Bruno Ferraro and Juan M. Soares de Lima 9 Sustainable intensification of agriculture and economy in the Pampas grasslands under climate change 193 Bruno Lanfranco, Enrique Fernández, Bruno Ferraro and Juan M. Soares de Lima 10 Rural households’ income diversification, climate change and food security in Kenya 226 Richard Mulwa and Jane Kabubo-Mariara PART IV RENEWABLE ENERGY 11 Rapid climate risk assessment methodologies for hydropower projects: concepts and theory 245 Johan G. Grijsen 12 Rapid climate risk assessment methodology for hydropower projects: case studies 275 Johan G. Grijsen and Kristin Gilroy 13 An analysis of biogas, biomass, forest credits, and renewable energy programs in Brazil and Argentina supported by the Green Climate Fund 291 Bruno Lanfranco and S. Niggol Seo PART V GLOBAL CLIMATE POLICY NEGOTIATIONS 14 Farmers’ acceptance of carbon offset programs in agriculture 309 Martina Bozzola and Simone Cerroni 15 An analysis of the Paris Agreement: commitments versus performances in Thailand and Vietnam 330 Thanyaporn Chankrajang, Khemarat Talerngsri-Teerasuwannajak and S. Niggol Seo PART VI GLOBAL PUBLIC GOODS’ FUNDS 16 An analysis of the behavioral economics of the Green Climate Fund 345 Martina Bozzola and S. Niggol Seo 17 An analysis of Sri Lankan and Indian water projects under the Green Climate Fund 367 Upali A. Amarasinghe and S. Niggol Seo 18 A review of the Green Climate Fund’s grant allocations to Kenya and Ethiopia 385 S. Niggol Seo, Richard Mulwa and Jane Mariara-Kabubo Book Annex 405 Index

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Book SynopsisWith the radical growth in the ubiquity of digital platforms, the sharing economy is here to stay. This Handbook explores the nature and direction of the sharing economy, interrogating its key dynamics and evolution over the past decade and critiquing its effect on society. Using an interdisciplinary perspective, this Handbook analyses labour, governance, trust and consumption in the contemporary sharing economy. It questions the apparent contradiction between its components: the moral economy of small-scale communal sharing versus the far-flung reaches of the market economy. Chapters explore ways to resolve this paradox, theorizing hybrid economic forms and considering the replacement of human trust inherent in the sharing economy with a transactional reputation economy. Featuring a variety of both conceptual explorations and empirical investigations in a variety of different cross-cultural contexts, this Handbook illustrates how and, more importantly, why the sharing economy has reshaped marketplaces, and will continue to disrupt them as it develops. Written in an accessible style, this thorough Handbook offers crucial insights for researchers across a variety of disciplines interested in the trajectories of modern consumption, as well as students studying the sharing economy. Practitioners, policy makers and public speakers working in and around the sharing economy will also benefit from this book's unique analysis of trends in consumer economics. Contributors include: A. Arvidsson, G. Avram, F. Bardhi, H. Bartling, M. Baz Radwan, R. Belk, H.H. Chang, A. Chattopadhyay, R. Corten, D. Dalli, A. DeCrop, N. Drozdova, G. Eckhardt, T. Eriksson, E. Fischer, F. Fortezza, A. Gandini, A. Gessinger, A. Graul, A. Gruen, A.J. Hawley, I. Kleppe, S. Kurtmollaiev, M. Laamanen, C. Laurell, C.X. Li, A. Light, R.J. Lutz, J. Mallargé, K. Mikolajewska-Zaj c, L. Mimoun, M. Möhlmann, O. Mont, J. Morales, A. Mukherjee, C. Oberg, L.K. Ozanne, E. Papaoikonomou, G. Patsiaouras, C. Pitt, K. Plangger, M. Rocas-Royo, A. Ryan, C. Sandstrom, M. Saren, K. Strzyczkowski, W. Suetzl, T. Teubner, C. Valor, P. van den Bussche, G. von Richthofen, Y. Voytenko Palgen, S. Wahlen, T. Widlok, P. Zidda, L. Zvolska Trade Review'This Handbook offers wide-ranging investigations and essays into the sharing economy. It takes the reader through a deep and critical look at this new way of organizing markets and society. While exposing the promise, practices, and paradoxes of these systems, the authors succeed in inspiring us to think how these platforms are changing how we consume, sell, and think about and care for the world. It offers fresh insights that I expect to influence my research and teaching in important ways for a long time.' --Christine Moorman, Duke University, US and Editor in Chief, Journal of Marketing'The sharing economy is fundamentally altering firms and markets, yet key questions about the future of the economy and society remain unanswered. Belk, Eckhardt and Bardhi provide a sweeping view of emerging thinking, spanning topics from blockchain and big data to rhetoric and risk. A must-read for any serious scholar.' --Arun Sundararajan, New York University, US and author of The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism'This is a must-read collection for anyone seeking a deeper appreciation of the sharing economy and why and how it works. Twenty-eight chapters explore the paradoxes between the moral economy of ''sharing'' the market economy of ''commerce,'' and the reputation economy on which everything is based. If you want a greater sense of the benefits and dilemmas of the sharing economy read this book.' --Susan Fournier, Boston University, USTable of ContentsContents: The paradox of the sharing economy, Introductory chapter Russell Belk, Giana Eckhardt and Fleura Bardhi The Nature of Sharing and the Sharing Economy 1. Situating the Sharing Economy: Between Markets, Commons and Capital Adam Arvidsson 2. Sharing as an Alternative Economy Activity Thomas Widlok 3. The who and what of sharing: A phenomenological view Wolfgang Suetzl 4. The Sharing Economy and Lifestyle Movements Mikko Laamanen and Stefan Wahlen Ownership, Access, and Collaborative Modalities 5. To Own or to Access: An Exploration of Sharing and Access Practices by Arab Millennials Maha Baz Radwan, Georgios Patsiaouras and Michael Saren 6 Object History Value in the Sharing Economy Claris X. Li and Richard J. Lutz 7. Guest, friend or colleague? Unpacking relationship norms in collaborative workplaces Adèle Gruen and Laetitia Mimoun 8. Designing the Economics of the Sharing Economy: Towards Sustainable Management Ann Light Exchange Practices in the Sharing Economy 9. The New Face of Bartering in Collaborative Networks: The Case of Italy’s Most Popular Bartering Website Daniele Dalli and Fulvio Fortezza 10. Sharing Economy to the Rescue? The Case of Timebanking Carmen Valor and Elani Papaoikonomou 11. Crowdfunding: Sharing the Entrepreneurial Journey Anirban Mukherjee, Hannah H. Chang, and Amitava Chattopadhyay 12. Crowdfunding the development of new products and services Natalia Drozdova, Seidali Kurtmollaiev and Ingeborg Kleppe Hybridity, Institutional Logics and Institutional Theory 13. Tracking the institutional logics of the sharing economy Andrea Gessinger, Christopher Laurell, Christina Oberg and Christian Sandstrom 14. Airbnb and Hybridized Logics of Commerce and Hospitality Georg von Richthofen and Eileen Fischer 15. The Hybrid Nature on Online Facilitated Offline Sharing Konstanty Strzyczkowski 16. Decentralization as a new framework for the sharing economy Marc Rocas-Royo Legal, Regulatory, and Public Policy Considerations 17. Urban Mobilities and Local Regulation: Transportation Challenges and Promise of the Sharing Economy Hugh Bartling 18. Should Europe Regulate Labour Platforms in the Sharing Economy? Adrian J. Hawley 19. Creating value to mitigate disaster harm: How the sharing economy can support consumers and policy makers Lucie K. Ozanne 20. How Sharing Economy Organizations and City Governments Engage in Institutional Work and How This Shapes Sustainability Oksana Mont, Yulia Voytenko Palgen, and Lucie Zvolska Trust, Satisfaction, and Reputation in the sharing economy 21. Social Dilemmas in the Sharing Economy Rense Corten 22. Leveraging trust on sharing economy platforms: Reputation systems, blockchain technology and cryptocurrencies Mareike Möhlmann, Timm Teubner, and Antje Graul 23. Revisiting Satisfaction with Collaborative Exchanges in the Sharing Economy Jérôme Mallargé, Alain DeCrop, and Pietro, Zidda 24. Customer goodwill: How perceived competence and rapport influence eWOM’s diagnosticity of Peer-to-Peer and Professional Access-Based Services Christine Pitt, Theresa Eriksson, and Kirk Plangger Critical Perspectives on the Sharing Economy 25. Constructing the Collaborative Consumer: The Role of Digital Platforms Annmarie Ryan and Gabriela Avram 26. Performing (in) the community: Accounting, biopower and the sharing economy Penelope van den Bussche and Jeremy Morales 27. The Rhetoric of Sharing: Managerial Literature on the Sharing Economy Karolina Mikołajewska-Zając 28. Reputation: the ‘fictitious commodity’ of the sharing economy? Alessandro Gandini Index

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Book SynopsisKeynes’ macroeconomic revolution is based on his microfoundations of economic behavior derived from ‘casual’ observations but impressively substantiated by rigorous research in behavioral economics and neurology. Ronald Schettkat argues that the allegation of the missing microfoundations in Keynes’ theory is false. Instead, both Keynes’ theory and behavioral economics relate to humans in ‘the economy we live in’, differing substantially in their fundamentals from the neoclassical model.Showing that Keynes’ micro has much in common with Behavioral Economics, the book starts with the fundamentals ranging from the methodological approach to economics as a real versus an axiomatic science and the consequences for knowledge building methods (interviews, observations, experiments), the rationality and equilibrium concepts to the functioning of markets, before delving into the topics in greater detail.Providing a thorough theoretical grounding in economics, this book will be a discerning read for economists, students of economics, political science, sociology and psychology as well as for the general public.Table of ContentsContents: 1. Introduction to The Behavioural Economics of John Maynard Keynes 2. Fundamentals of economics 3. Rational choice: a normative concept 4. Choice under uncertainty: animal spirits 5. Expectations over time 6. Socially embedded individuals 7. The resurrection and fall of homo oeconomicus 8. Conclusion: the economy we live in References Index

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Book SynopsisUtilizing extensive research in economics, psychology, political science, neuroscience and evolutionary theory, Ananish Chaudhuri provides a critical perspective on the role of cognitive biases in decision-making during the Covid-19 pandemic. The extensive use of, and support for, stringent social distancing measures in particular is explored in depth. Nudged into Lockdown? provides clear explanations of complex scientific information regarding Covid-19, vaccines, and policy responses, to highlight issues at the center of policy-making during the pandemic. With a comprehensive overview of the policy debates around Covid-19, the book offers an alternative thought-provoking perspective on the topic, as well as suggestions for policy-making during future pandemics and other crises. It further highlights applications of a range of concepts from heuristics and biases literature, including priming, framing, anchoring, Prospect Theory, and loss aversion. Providing directions for future research in the area, this book will be an invigorating read for established academics, as well as postgraduate students looking to undertake research in Covid-19 related decision-making. It will also be a critical read for economics, political science, and public policy scholars seeking a deeper understanding of the topic.Trade Review‘If you are looking for an engaging treatment by an economist of what optimal pandemic policy response should look like, and what common pitfalls to avoid, that brings to bear insights from epidemiology, economics, and behavioural economics, then I would highly recommend Nudged into Lockdown. Consider this your nudge.’ -- Jeremy Clark, Journal of Economic Psychology‘Nudged into Lockdown? forcefully addresses an important point that has too often gone missing in applied work on nudging and choice architecture: namely, that policy makers and experts, too, make systematic errors when interpreting data and may succumb to biased assessments of risk and uncertainty themselves. The book provides durable insights into how both orthodox benefit-cost analysis and key findings from the behavioural sciences – regarding trust, autonomy and pro-social adaptative responses in decentralised social systems – were sometimes overlooked or underutilised by those who designed covid-response policies.’ -- Nathan Berg, Journal of Behavioral and Experimental Economics‘In responding to the novel coronavirus pandemic, most governments abandoned the existing scientific and policy consensus and mimicked one another to embrace lockdowns of varying stringency. Remarkably, hardly any seemed to produce cost–benefit analysis. Unremarkably, the cost–benefit balance varied between rich and poor countries. In this rigorous, multi-disciplinary examination, written in clearly accessible language, Ananish Chaudhuri explores the reasons for the herd-like behaviour by governments and for the public compliance with their edicts. A must-read for understanding what really happened with Covid-19 and why, and for being better prepared for the inevitable next pandemic.’ -- Ramesh Thakur, Director of the Centre for Nuclear Non-Proliferation and Disarmament (CNND), Crawford School, The Australian National University, Vice Rector and Senior Vice Rector of the United Nations University and Assistant Secretary-General of the United Nations 1998–2007‘This book is at once scholarly and readily accessible to all. The case Chaudhuri makes is not for any specific policy response, but rather for rational and fully informed decisions – for epidemiology over ideology. If the careful logic and vivid illustrations here pry open enough minds, we will be far better prepared for the next great public health crisis than we were for Covid-19.’ -- David L. Katz, MD, MPH President, True Health Initiative and Founding Director, Yale-Griffin Prevention Research Center, Yale University, US, 1998–2019‘Ananish Chaudhuri lays out the many irrationalities involved in the support for lockdowns in New Zealand and elsewhere: an inability to judge small probabilities, the problems with gut feelings, and many ex-post justification biases. Chaudhuri makes the argument carefully and yet manages to retain great humanism and compassion. A delight to read.’ -- Paul Frijters, Professor in Wellbeing Economics, London School of Economics and Political Science, UK and co-author of An Economic Theory of Greed, Love, Groups, and Networks‘In response to the Covid pandemic, many countries adopted containment policies that did not condition on people’s health status or demographic characteristics. This timely and insightful book addresses the questions of what considerations led to those policies and whether those policies were well-informed. The book begins from the premise that the design of effective policy cannot be based solely on the insights of classic epidemiology models. The reason is both simple and sensible: those models don’t take into account behavioral responses of people to policies like containment. The author’s analysis is multidisciplinary in nature, blending economics, psychology, political science and epidemiology. The result is a rich and informative analysis. I highly recommend this well-written and timely book.’ -- Martin Eichenbaum, Charles Moskos Professor of Economics and Co-Director, Center for International Macroeconomics, Northwestern University, US‘This book is a very timely one for those, like me, who believe the democratic world’s lockdown response to the Covid virus will go down as the worst public policy response of the last few centuries. It is sceptical. It is interesting. It is Great Barrington over Chief Medical Officer. There is more to living and the good life than fear of dying of Covid. All the politicians who focused on that matrix, and ignored other causes of death as well as all the benefits of living in a free society, and more, should have to read this book.’ -- James Allan, Garrick Professor in Law, TC Beirne School of Law, University of Queensland, Australia‘In this book Ananish Chaudhuri achieves the impossible – he offers an easy-to-read book that delivers profound insights about our behavior which applies not just to pandemics, but to many other recurrent situations in our daily lives! A must-read for anyone that wants to make better decisions.’ -- Sudipta Sarangi, Professor and Chair, Department of Economics, Virginia Tech, US, Co-Editor, Journal of Economic Behavior and Organization and author of The Economics of Small Things‘Careful comparison of costs and benefits is usually considered a hallmark of wise decision-making. Yet in 2020 many governments abandoned this standard as they tried to minimize deaths from Covid-19 regardless of cost. Traditional cost–benefit arguments were rebuked, by politicians who by nature rarely admit error, but also by ordinary folk affronted that someone would want to “kill granny”. This book draws insights from experimental economics, political science and psychology to show how various biases in decision-making processes contributed to this situation. Fifty years ago, Essence of Decision led a generation of scholars to examine models of government decision-making. Hopefully Ananish Chaudhuri’s lively book has a similar impact, for scholars, students and members of the public concerned about the retreat from rationality that is revealed by policy choices and public attitudes in the Covid-19 era.’ -- John Gibson, Professor of Economics, University of Waikato, New Zealand, Fellow of the Royal Society of New Zealand and Distinguished Fellow of the New Zealand Association of Economists‘This is an excellent book that nicely discusses cutting-edge applications in behavioural economics pertaining to the Covid-19 pandemic. It is thought-provoking and contains pioneering approaches that broaden the scope of behavioural research. Excellent writing style, making the content of the book accessible to a broad audience. Highly recommended!’ -- Michalis Drouvelis, Professor of Economics, University of Birmingham, UK and Co-ordinating Editor, Theory and Decision‘In New Zealand now it is hard to remember the shock of lockdown as a pandemic response. So much has happened. The virus has been kept at bay, so far. The predicted economic disaster has not happened – yet. Massive financial relief for businesses forcibly suspended and jobs at risk was followed by a rapid recovery when shops reopened. But Ananish Chaudhuri is by no means alone in thinking the country could pay a high and lingering price for its unprecedented lockdown, and that these costs, especially the human costs, should have been weighed against the risks the virus posed. His book uses fascinating behavioral studies of economic decision making and the psychology of popular risk assessment to question the merits of measures that New Zealand’s Government took and New Zealanders overwhelmingly accepted. They should read this book and wonder if these were questions they should have asked.’ -- John Roughan, Political Columnist, New Zealand HeraldTable of ContentsContents: 1. Prologue 2. Gut feelings: biases, heuristics and Covid-19 3. Pathogens and probabilities 4. Should we trust people to do the right thing? 5. Politics, pathogens and party lines 6. Irrational exuberance in the midst of Covid-19 7. Epilogue Bibliography Index

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Book SynopsisElgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business, and law, expertly written by the world’s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.Through detailed discussion of the central principles of behavioral finance, this enlightening Advanced Introduction provides a balanced exploration of the broad issues within the field. Chapters explain the continuous development of the discipline and provide a useful differentiation between behavioral finance and standard finance.Key Features: Illustrates the various challenges and opportunities facing behavioral finance Provides clear definitions of key terms within the subject area of behavioral finance Investigates applications of behavioral finance in financial decision-making, including within corporate finance Explains why blending behavioral and standard approaches would likely improve financial understanding and lead to better decision-making This illuminating Advanced Introduction will be valuable for academics, researchers, and practitioners interested in behavioral finance. Students researching behavioral economics, economic psychology, and financial economics will also find it informative.Trade Review‘Baker, Nofsinger, and Ricciardi, three exceptional finance scholars, have provided an excellent volume discussing and analysing the development of behavioural finance in the context of the traditional simple and simplistic finance modelling. They reveal the fundamental flaws of this approach and how behavioural finance, based on realistic modelling assumptions, yields more robust predictions and causal analyses. An important and informative read.’ -- Morris Altman, University of Dundee, UK‘This volume provides a thoroughly up to date and beautifully structured overview of what is by now a coherent body of thought. It would serve as an excellent upper level course companion or as a stand alone reference.’ -- Brian Lucey, Trinity College Dublin, Ireland'Advanced Introduction to Behavioral Finance is an elegant, readable addition to the behavioral finance literature that thoroughly covers foundational topics like heuristics in addition to shining a light on topics like biology and behavioral corporate finance that have historically gone overlooked. A must-read for serious students of BeFi.' -- Daniel Crosby, Chief Behavioral Officer, Orion, US

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Book SynopsisElgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business, and law, expertly written by the world’s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.Through detailed discussion of the central principles of behavioral finance, this enlightening Advanced Introduction provides a balanced exploration of the broad issues within the field. Chapters explain the continuous development of the discipline and provide a useful differentiation between behavioral finance and standard finance.Key Features: Illustrates the various challenges and opportunities facing behavioral finance Provides clear definitions of key terms within the subject area of behavioral finance Investigates applications of behavioral finance in financial decision-making, including within corporate finance Explains why blending behavioral and standard approaches would likely improve financial understanding and lead to better decision-making This illuminating Advanced Introduction will be valuable for academics, researchers, and practitioners interested in behavioral finance. Students researching behavioral economics, economic psychology, and financial economics will also find it informative.Trade Review‘Baker, Nofsinger, and Ricciardi, three exceptional finance scholars, have provided an excellent volume discussing and analysing the development of behavioural finance in the context of the traditional simple and simplistic finance modelling. They reveal the fundamental flaws of this approach and how behavioural finance, based on realistic modelling assumptions, yields more robust predictions and causal analyses. An important and informative read.’ -- Morris Altman, University of Dundee, UK‘This volume provides a thoroughly up to date and beautifully structured overview of what is by now a coherent body of thought. It would serve as an excellent upper level course companion or as a stand alone reference.’ -- Brian Lucey, Trinity College Dublin, Ireland'Advanced Introduction to Behavioral Finance is an elegant, readable addition to the behavioral finance literature that thoroughly covers foundational topics like heuristics in addition to shining a light on topics like biology and behavioral corporate finance that have historically gone overlooked. A must-read for serious students of BeFi.' -- Daniel Crosby, Chief Behavioral Officer, Orion, US

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Book SynopsisThis Encyclopedia presents a comprehensive account of the complementary forces of behavioural economics, a novel field combining psychological insights with analytical economic thinking and experimental economics.

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Book SynopsisCombining theoretical and practical aspects of policy analysis, this book evaluates actual and proposed policy reforms to income tax and transfer systems, using a behavioural tax microsimulation model. It highlights how these models allow for the full details of tax systems and the considerable population heterogeneity that is found in practice.John Creedy and Penny Mok look at how such models can be used to obtain summary measures that are relevant in tax debates. These include elasticities of labour supply and measures of the welfare effects of tax changes, in terms of excess burdens. Chapters further examine how models can be used to search systematically, across a range of policy changes, for revenue-neutral reforms which result in an improvement, in terms of an explicit evaluation function.This will be a timely read for students of public finance, welfare and labour economics. The careful attention paid to metrics used in policy evaluations will also make this a useful book for researchers and policy advisors concerned with income taxation, social transfers, inequality and poverty measurement.Trade Review‘As in his many previous contributions, John Creedy – here with co-author Penny Mok – succeeds in combining recent progress in behavioural tax simulation models and large micro-datasets with an explicit normative framework of individual and social welfare to shed light on hot and important tax policy questions. Students in public finance, government officials and academic colleagues will highly benefit from this lucidly written assessment of past and planned tax reforms through the lens of up-to-date microsimulation models.’ -- André Decoster, KU Leuven, Belgium‘This book is a real joy to read for a practitioner of public finance. In addition to providing practical guidance for the microsimulation analyst, I appreciate the authors’ careful placement of their contributions in the literature.’ -- Thor O. Thoresen, Statistics Norway and University of Oslo, NorwayTable of ContentsContents: 1. Introduction 2. Designing Direct Tax Reforms 3. Labour Supply Elasticities 4. The Welfare Costs of Direct Taxation 5. A Benefit Reform: Working for Families 6. The 2010 Tax Changes 7. Welfare-Improving Tax Reforms 8. A Minimum Wage Increase Bibliography Index

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Book SynopsisElgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary.With contributions from an international range of active researchers, this Research Agenda provides a timely literature review on core topics related to consumer financial behavior. Chapters cover financial management behavior, desirable financial behavior and any financial behavior that helps improve financial wellbeing.The Research Agenda is split into two parts, first covering determinants of financial behavior and then outcomes. Top scholars in the field explore a broad range of determinants, including financial literacy, education, socialization, access, technology, retirement policies, trading and investment, and neuroscience. The book moves on to explore financial capability, wellbeing, fragility and vulnerability, offering a comprehensive examination of the topic.Economics and financial behavior researchers and students will benefit from the thorough and incisive literature reviews in this Research Agenda. It will also be a valuable resource for business practitioners looking for an up-to-date insight on research in the field.Trade Review‘This book is a delightful guide and an upfront review of the economic and behavioral approach to how people manage their finances. It is a collection of the most recent findings for those who seek to acquire new knowledge on consumer financial literacy and financial technology. The book makes significant scientific contributions to the current literature.’ -- Sisira Colombage, Federation University Australia, AustraliaTable of ContentsContents: Acknowledgments of the reviewers xvii 1 Introduction to A Research Agenda for Consumer Financial Behavior 1 Jing Jian Xiao and Satish Kumar PART I DETERMINANTS OF FINANCIAL BEHAVIOR 2 Financial literacy and financial behavior 19 Kirti Goyal and Satish Kumar 3 Consumer financial education and financial behavior 33 Makiko Hashinaga 4 Financial socialization and financial behavior 47 Jill M. Norvilitis 5 Consumer cash-flow management and budgeting behavior 59 Rameshkumar Subramanian and Arjun T P 6 Bankruptcy: the result of failed financial relationships 73 Rita W. Green 7 Financial access and financial behavior 89 Julie Birkenmaier and Qiang (John) Fu 8 Consumer insurance behavior 103 Srijanani Devarakonda, Falguni H. Pandya, Pankaj Sahu, and Kexin Meng 9 Financial technology and consumer financial behavior 117 Mathieu Despard 10 Mobile banking usage behavior 131 Andrews Agya Yalley and Rebecca Dei Mensah 11 Consumer retirement planning behavior 145 Sunwoo T. Lee, Kyoung Tae Kim and Sherman D. Hanna 12 Retirement policy and saving behavior 157 Bomikazi Zeka 13 Consumer estate planning behavior 171 Blain Pearson 14 Consumer investment behavior 183 Ajinkya Dhanagare, Suman Saurabh and Preeti Roy 15 Consumer behavior in cryptocurrency adoption 197 Monika Sheoran, Devashish Das Gupta and Alpana Karanjule 16 Trading and investing behavior during COVID-19 213 Douglas J. Lamdin 17 Neuroscience and consumer financial behavior 225 Weng Marc Lim, Markson Wee Chien Chin, Yaw Seng Ee, Carolina Sandra Giang, Kiat Sing Heng, Melinda Lian Fah Kong, Bibiana Chiu Yiong Lim, Rodney Thiam Hock Lim, Tze Yin Lim, Chui Ching Ling, Symeon Mandrinos, Lisa Lee Hua Ngui, Stanley Nwobodo, Chia Hua Sim and Elizabeth Ai Lin Voong PART II OUTCOMES OF FINANCIAL BEHAVIOR 18 Consumer financial behavior and financial capability 245 Muhammad S. Tahir and Daniel W. Richards 19 Financial behavior and financial wellbeing 259 Tim S. Griesdorn, Lucy M. Delgadillo and Luke Erickson 20 Financial behavior and financial fragility 273 Malvika Chhatwani and Sudipta Sen 21 Health, financial behavior, and financial vulnerability during COVID-19 287 Swarn Chatterjee and Jinhee Kim 22 Financial behavior and financial wellbeing of LGBT+ 299 Lucy M. Delgadillo Index

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Book SynopsisFollowing rapid technological advancements that have taken place throughout the late twentieth and early twenty-first centuries, this intriguing book provides a dynamic agenda for the study of artificial intelligence (AI) within finance. Through an in-depth consideration of the use of AI, it utilizes case study examples to investigate AI’s effectiveness within investment and banking.Artificial Intelligence and Financial Behaviour examines to what extent AI can guide people to improve their financial wellbeing. It explores potential effects of, and problems with, specific technologies, as well as describing current regulatory considerations regarding the use of AI and machine learning. Chapters succinctly portray the impact AI may have on investor and trader behaviour. This highly informative book will be beneficial for students and researchers studying behavioural and regulatory economics. It will also be immensely useful for financial regulators who are analysing problems from contemporary points of view.Trade Review‘This is an excellent book focusing on the adaptive features of heuristic financial decision making. This will be an excellent resource for all those interested in the financial markets such as investors, policy makers, researchers and university students.’ -- Shigeyuki Hamori, Kobe University, JapanTable of ContentsContents: Preface viii Introduction: Artificial intelligence should meet natural stupidity. But it cannot! 1 Riccardo Viale PART I AI AND BOUNDED RATIONALITY 1 Financial service providers, AI, satisficing, and the human touch in the market for financial nudges and boosts 30 Hersh Shefrin 2 The importance of structural rationality: understanding market institutions 51 Shyam Sunder 3 Bits of individual knowledge in bytes of machines 69 Shabnam Mousav and Mario Rasetti 4 Radical rationality allows coping with fundamental uncertainty on financial markets 89 Paolo Sironi 5 Integrating heuristics and learning in a computational architecture for cognitive trading 111 Remo Pareschi and Federico Zappone PART II AI AND MARKETS 6 Artificial intelligence and conduct in wholesale markets 137 Mark Yallop 7 Using AI to assess credit risk; developing a model 144 Umberto Filotto, Tommaso Giordani, Gian Paolo Stella and Filmon Teclai 8 Do we like robot? Consumers’ attitude towards the algorithm 156 Barbara Alemanni 9 Financial consumers, digital interfaces and decision aids 174 Peter D. Lunn 10 FOMO and Covid and Cryptos, oh my! 192 Steven Jon Kaplan 11 How AI is re-shaping the financial industry: lights, shades and perspectives 205 Paola Papanicolaou 12 54,000 PRIIPs KIDs – how to read them (all) 215 Adrien Amzallag 13 Machine learning and artificial intelligence for risk management 240 Edoardo Faletti Index

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Book SynopsisThis cutting-edge book unpacks the relationship between culture and consumer behavior to present the state-of-the-art in cross-cultural consumer research. Examining how culture shapes what consumers seek, evaluate and choose to purchase, Cross-Cultural Consumer Behavior explains why and how cultural values such as individualism, indulgence, or uncertainty avoidance influence consumers’ buying behavior.With a balanced approach, the book explores not only how cultural differences between countries shape our decisions but also outlines the basic concepts of cross-cultural consumer research, the measurement of cultural values proposed in the Hofstede, Schwartz and GLOBE models, and the psychological foundations of culture-specific consumer behavior. Based on these conceptual foundations, the authors explain how cultural values shape consumers’ buying processes, from information searches through post-purchase behavior.This book will be valuable to researchers and students of international business, global marketing, and consumer behavior. Cross-Cultural Consumer Behavior will also be relevant for marketing practitioners and international marketing agencies.Trade Review‘This is a very much needed, well-thought, and well-written book on cross-cultural consumer behavior. The authors have done an excellent job in covering practically all topics relevant to understanding consumer behavior in a cross-cultural context. Importantly, they have done so in a systematic and engaging way. A great addition to the literature and a great source for students and researchers alike.’ -- Adamantios Diamantopoulos, University of Vienna, AustriaTable of ContentsContents: PART I CONCEPTS AND MODELS OF CROSS-CULTURAL CONSUMER RESEARCH 1. From economic man to cultural man: an introduction 2. Basics of consumer behavior 3. Models of consumer behavior 4. Universalism/relativism debate 5. Global trends in consumer behavior PART II MAIN FEATURES OF CROSS-CULTURAL RESEARCH 6. Understanding of terms 7. Layered models 8. Theories and operationalizations 9. Problems and weaknesses of cross-cultural research PART III BASICS OF CONSUMER BEHAVIOR 10. Perception 11. Thinking and information processing 12. Attitudes 13. Motivation 14. Emotions 15. Personality 16. Behavior and prediction of behavior PART IV CONSUMER BEHAVIOR IN CROSS-CULTURAL COMPARISON 17. Information search 18. Criteria for purchase decisions 19. Attitudes 20. Price perception and willingness to pay 21. Choice of shopping locations and sales channels 22. Purchase intention and purchase decision 23. Post-purchase behavior 24. Regret: cognitions and emotions after the purchase References Index

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