Behavioural economics Books

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Book SynopsisAn 'exciting and engaging' investigation (Jonah Berger) of the secret, tangled emotional relationships people have with things—drawing on cutting-edge findings from the fields of psychology, neuroscience, and marketing. Books, baseball cards, ceramic figurines, art, iPhones, clothing, cars, music, dolls, furniture, and even nature itself. If you're like most people, at some point in your life you've found yourself indulging in a love affair with some thing that brings you immense joy, comfort, or fulfillment. Why is it that we so often feel intense passion for objects? What does this tendency tell us about ourselves and our society? In The Things We Love, Dr. Aaron Ahuvia presents astonishing discoveries that prove we are far less “rational” than we think when it comes to our possessions and hobbies. In fact, we have passionate relationships with the things we love, and these relationships are driven by influences deep within our culture and our biology. Some of our passions are sudden, obsessive, and fleeting; others are devoted and lifelong affairs. Some turn dark: we become hoarders, or would prefer to destroy certain objects rather than let anyone else own them. And as technology improves, becoming increasingly addictive, one wonders: might our lives become so dominated by our emotional ties to things that we lose interest in other people? Packed with fascinating case studies, scientific analysis, and takeaways for living in a modern and ever-so-material world, The Things We Love offers a truly original and insightful look into our love for inanimate objects — and how better understanding these relationships can enrich and improve our lives.

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Book SynopsisNEW YORK TIMES BESTSELLER • “A fascinating look at how consumers perceive logos, ads, commercials, brands, and products.”—TimeHow much do we know about why we buy? What truly influences our decisions in today’s message-cluttered world? In Buyology, Martin Lindstrom presents the astonishing findings from his groundbreaking three-year, seven-million-dollar neuromarketing study—a cutting-edge experiment that peered inside the brains of 2,000 volunteers from all around the world as they encountered various ads, logos, commercials, brands, and products. His startling results shatter much of what we have long believed about what captures our interest—and drives us to buy. Among the questions he explores:• Does sex actually sell? • Does subliminal advertising still surround us? • Can “cool” brands trigger our mating instincts? • Can our other senses—smell, touch, and sound—be aroused when we see a product? Buyology is a fascinating and shocking journey into the mind of today's consumer that will captivate anyone who's been seduced—or turned off—by marketers' relentless attempts to win our loyalty, our money, and our minds.

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Book SynopsisEmotional behavior and biases run throughout financial markets. This is the diagnosis of behavioral finance.But it is not enough to know that investors make biased decisions. What do we do about it? How do we move beyond diagnosis, to prescription?In this groundbreaking new book, investing and behavioural finance experts Thomas Howard and Jason A. Voss plug this void and show the new way ahead for investment managers and advisors. Return of the Active Manager provides a set of tools for investment professionals to overcome and take advantage of behavioral biases.Across seven compelling chapters, Return of the Active Manager details actionable advice on topics such as behaviourally-enhanced fundamental analysis, active equity fund evaluation and selection, harnessing big data, and investment firm structure. You learn how to exploit behavioural price distortions, how to recognise and avoid behavioural biases (in both yourself and clients), how to extract behavioral insights from the executives of prospective investments, and how manager behaviour can be used to predict future fund performance.An indispensable tool, Return of the Active Manager rationalises the financial markets and prescribes actionable strategies that build on the lessons of behavioural finance.

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Book SynopsisEconomic Psychology is the only up-to-date, English-language textbook that provides a comprehensive overview of theoretical topics in economic psychology and their relevance in applied fields. Written by two leading psychologists, the book looks at how people make decisions on the use of scarce resources, in particular money, from a psychological perspective. Starting with decision making and lay theories as basic building blocks of economic behaviour, the authors go on to explore three major markets where economic behaviour occurs as an interaction between individuals and companies or institutions - consumer markets, labour markets and financial markets - before considering the challenges of collective cooperation and economic prosperity. Featuring numerous applied examples throughout, each chapter also includes an overview, a summary, figures, key terms, student questions and suggestions for further reading. This introduction is an essential resource for advanced undergraduate and poTrade Review'… this is an excellent book, well suited to introduce economic psychology to students both in psychology and in economics/business … [it] is one of the best introductions to economic psychology in the English language.' Edoardo Lozza, Università Cattolica del Sacro Cuore, Milano'This is a splendid, accessible and up-to-date resource for advanced undergraduates and postgraduates, written by two experts in the field. It reflects not only the now familiar overlap between cognitive psychology and behavioural economics based on prospect theory and other innovations, but also social psychological perspectives on lay theories and social representations. All sections include useful and engaging summaries, questions that can be used for students' essays, and suggestions for further reading.' Alan Lewis, University of Bath'The book, from two intellectual heavyweights in economic psychology, provides an authoritative overview of the research's state-of-the-art in economic psychology. It is a must-read for everybody in the profession.' Martin Kocher, University of Munich'Finally - economic psychology now has the textbook that it desperately needed. Comprehensive, informative, illustrative, and written by two of the most renowned experts in this field. For anybody interested in economic psychology, and especially for those who want to get the whole picture, this book is a must-read.' Stefan Schulz-Hardt, University of GöttingenTable of Contents1. Economic psychology: history and application; 2. Decision-making: normative models and anomalies; 3. Decision-making: descriptive models and choice architecture; 4. Lay theories: knowledge and money; 5. Consumer markets: purchasing and credit use; 6. Labour markets: wages and entrepreneurship; 7. Financial markets: risk and investment; 8. Collective co-operation: shadow economy and tax paying; 9. Collective production: work and unemployment; 10. Collective prosperity: wealth and happiness.

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Book SynopsisShortlisted for the 2020 Business Book AwardsNowadays, stakeholder consideration focuses as much on an organization's culture as it does on the bottom line employees want to work for a company that has clear values and an engaging environment; customers and clients want to know they're supporting a worthwhile brand; and investors look to back socially responsible companies with good organizational health.Too often, businesses see culture change as a project with a defined end point once the project is considered done', the dominant culture re-emerges and things go back to how they were. Culture Shift guides organizations on how to do things differently, ensuring that culture really does shift (with minimal budget and no external consultants) and putting culture permanently at the core of running the business. Founded on behavioural economics, Culture Shift recognises that people do not always make average assumptions or follow rational logic. Changing a culture, Trade ReviewThe mix of personal experience and straight-talking advice creates a vital handbook for anyone taking on the task of managing culture. -- Sunny Varkey, Founder of GEMS Education and Varkey FoundationI taught culture at a business school for years, and always felt that I was about to get found out, because all the models I came across sounded plausible but simply didn't work. I wish I'd had this book, and I wish I'd written it. Bravo – it should be issued to all new leaders along with their security pass on day one. -- Eve Poole, author of LeadersmithingCulture is so fundamental to performance, and yet working to improve it often attracts myth, mystery and scepticism. Seen on the one hand as the intangible soft stuff, or on the other as something simplistically to be fixed, neither approach will be successful. This book finds a way through the middle, based on real experience and outcomes. It’s straight talking, realistic and refreshingly honest. If you are approaching the topic of driving change through culture, start here with this book. It will help you make sense of a topic so often avoided, yet so essential to grasp. -- Iain Conn, CEO of Centrica PlcOne person’s logic is not another’s – a key premise of this accessible book that unpicks why you can’t simply announce the culture you want, and expect to create it. It takes time, effort, balance and a healthy dose of pig-headedness. Wonderful, original stuff. -- Charlie Hodgson, Team and Leadership Coach

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Book SynopsisYou've been getting ripped off.The rules that have protected consumers for decades are failing. Companies are spying on us. Many of the products we once trusted are dangerous and failing at alarming rates. Whether we are buying a crib, a small appliance, an iPhone app, or shopping for car insurance, it's become harder than ever to know whether the choices we make in the marketplace are putting us at risk-either from physical harm or the abuse of our personal data by hackers or corporations.This is intolerable. It's wrong. And we don't have to put up with it anymore. Marta L. Tellado, the president and CEO of Consumer Reports, has been an advocate for consumers for decades. In Buyer Aware, Tellado shows you the steps you can take to protect yourself from predatory business practices, and how to exert your inherent power as a consumer to spur politicians and businesses to clean up their act. Only then can we ensure that we have an economy that is fair, safe, and transparent for all, and puts consumers first.

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Book SynopsisThe world is changing make sure your business changes with it.We are in the midst of a once-in-a-generation Great Shift that will usher in fundamental global change. In Five Horizons, the unapologetic nonconformist Steve Sanders demonstrates that the profit-first-and-last' mindset no longer serves us and the time for conventional thinking has passed. To succeed in future, businesses must look to new horizons.Read this book to: Identify your purpose and decide what your business stands for Deconstruct the assumptions that are limiting your potential Understand, address and resolve the issues that people care about most to have far-reaching impact Share your principles and values to attract and retain customers and employees Differentiate yourself in the marketplace and watch as your company value multiplies

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Book SynopsisInCitations offers a series of memorable quotes, aphorisms and expressions (that is, citations) and by delving into their history and meaning(s) you will find ways of applying - or just pondering on - them that incite insight and add to a sense of smartness. The range of inspiring quotes, aphorisms and words provided aim to illuminate and trigger debate, conversation and reflection that will enliven and enrich writing and thinking. From the arts to sciences, advertising, psychology and behavioural economics, to myths and classic stories, etymology and punctuation, The New Yorker cartoons and TV, this book encompasses it all!Trade Review"A delightful potpourri of annotated punchlines - that's what I would call this easy and entertaining book. Here are some wonderful, wise, insightful and witty quotes, phrases and acronyms by myriad writers, storytellers and even a toilet seat. There is rich insight behind each one, and we learn why they have come to mean so much more than just the words that describe them. Here's one place you can give it full attention for a partial period, rather than CPA." - Shekhar Deshpande, Head of Strategy Global Accounts, Facebook "InCitations will not tell you all of life's answers boiled down to one phrase like some over-praised, over-priced 'self-help' book. It will, however, provoke you to think and question how you see and interact with the people around you. The author explores everything from behavioural economics, complexity theory, sport, mythology, humour, advertising and TV with a sense of humility that is refreshing and approachable. The more challenging content in each section is followed by a realistic reflection and breakdown of how to apply the topic to your own work or life. This moreish diversity of citing everything from current pop culture to world-renowned physicists keeps the reader wanting to read 'just one more section'."- Krista Bradley, Senior Manager Market Research, Microsoft "There is a Chinese proverb - knowledge is the best charity. Whether you are stuck or eager to express yourselves, this series of memorable quotes, aphorisms and expressions will spark your thinking and communication. InCitations is also a meaningful gift to share with the person you cherish." - Katie Zhou, Co Founder and Managing Director, MetaThink Strategic Branding & Innovation Consultancy "Earnest, inquisitive readers should read this book for the plethora of valuable lessons it contains while taking extensive notes. Everyone else should read it just for fun." - Rory Sutherland, Vice Chairman, Ogilvy and author, Alchemy

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Book SynopsisEinleitung.- Entscheidungsmodell.- Potenzielle verhaltensökonomische Einflussfaktoren.- Experimentelle Untersuchungen.- Diskussion.

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Book SynopsisSpeculative Communities investigates the financial world’s influence on the social imagination, unraveling its radical effects on our personal and political lives.Trade Review"Speculative Communities is a masterful critique of the financialisastion of everyday life, which provides an innovative account of the role of speculation and uncertainty in shaping the way we understand, and act within, the world. Komporozos-Athanasiou masterfully blends economic theory with political and sociological analysis to deliver a fascinating reading of how finance has colonised our imaginations, and the challenges this process poses to movements seeking to construct a collective sense of what life beyond capitalism might look like. Speculative Communities is both a novel and exciting academic contribution, and a critical reference point for those seeking to organise in a world defined by the logic of speculation."--Grace Blakeley, author of Stolen: How to Save the World From FinancialisationTable of ContentsKey Terms Introduction Part 1: Speculation: Finance and Capitalism 1. The Rise of Speculative Communities 2. A Genealogy of Speculative Imagination: Old Spirits of Capitalism Part 2: Spectacle: Finance and Society 3. Speculative Technologies and the New Homo speculans 4. Speculative Intimacies Part 3: Specter: Finance and Polity 5. Financialized Populism and New Nationalisms 6. Counter-speculations Conclusions Acknowledgments Notes References Index

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Book SynopsisSpeculative Communities investigates the financial world’s influence on the social imagination, unraveling its radical effects on our personal and political lives.Trade Review"Speculative Communities is a masterful critique of the financialisastion of everyday life, which provides an innovative account of the role of speculation and uncertainty in shaping the way we understand, and act within, the world. Komporozos-Athanasiou masterfully blends economic theory with political and sociological analysis to deliver a fascinating reading of how finance has colonised our imaginations, and the challenges this process poses to movements seeking to construct a collective sense of what life beyond capitalism might look like. Speculative Communities is both a novel and exciting academic contribution, and a critical reference point for those seeking to organise in a world defined by the logic of speculation."--Grace Blakeley, author of Stolen: How to Save the World From FinancialisationTable of ContentsKey Terms Introduction Part 1: Speculation: Finance and Capitalism 1. The Rise of Speculative Communities 2. A Genealogy of Speculative Imagination: Old Spirits of Capitalism Part 2: Spectacle: Finance and Society 3. Speculative Technologies and the New Homo speculans 4. Speculative Intimacies Part 3: Specter: Finance and Polity 5. Financialized Populism and New Nationalisms 6. Counter-speculations Conclusions Acknowledgments Notes References Index

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Book SynopsisCapitalism XXL calls for changing the rules of capitalism in order to tame giant corporations and restore the individual to the world economy. Noels proposes an approach that considers human dimensions and describes a sustainable future economy that will not burden subsequent generations with debt, social inequality, and environmental damage.Trade Review“In an era when tech giants shake the earth like dinosaurs, how should we respond? Amazon merely mentions interest in a sector, and all of the companies there lose 20 percent of their value. Facebook monetizes its users’ data like it’s a division of the National Security Agency. Geert Noels explains the cure for corporate gigantism.” Barry Ritholtz, author of Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy“The ‘winner takes all’ effect is a hot topic today. However, where most economists are focusing on the impact on margins and profits or productivity, Geert Noels takes a wider look at the impact of large systems on mental well-being, communities, and our climate problems.” Pattie Maes, founder of MIT Media Lab’s Fluid Interfaces Group“In an age when bigger is assumed to be better, Geert Noels warns of the perils of size – and makes a convincing case for the benefits of going small. Not only is small beautiful; it is also more economically viable in the long run. Do yourself a big favour and read Capitalism XXL.” Eric Weiner, author of The Geography of Genius: Lessons from the World’s Most Creative Places

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Book SynopsisA follow-up to "Culture and Consumption", this book trades the platitudes about the consumer society for an anthropological treatment. It includes essays on homes, cars, people, and social mobility, celebrities, consumerism, self-invention, museums and the power of objects, the anthropology of advertising, and more.Trade ReviewSuburban living rooms, 1950s tail fins, and Hollywood celebrities: in such examples of popular and material culture, McCracken (cultural anthropologist, author of Culture and Consumption, CH, Jul'88) finds provocative evidence for what North Americans value. This highly readable volume pairs informal essays with scholarly articles, all providing rich anthropological perspectives on the material elements of everyday life and how people build their identities, experiences, and relationships through them. People turn houses into homes by sheltering themselves with concentric rings of intimacy made of meaningful objects. They select and reject from marketplace offerings according to their notions of self and family. McCracken's meaning management concept usefully explores how advertisers, marketers, and celebrity endorsers compete as meaning makers who capture cultural meanings and attach them to products. His heated attacks on elitist critiques of consumer culture are lively but dated; half the chapters are reprinted, three from the 1980s. Few scholars still disdain popular and material culture as McCracken's targets once did. However, many do challenge assertions like his that the world of goods has become successfully democratized. Nonetheless, this collection of insights and arguments will serve general audiences, marketers, and students looking for fruitful ways of assessing consumer culture. Summing Up: Recommended. General readers; students, lower—division undergraduate and up; and professionals. -- P. W. Laird * Choice *This highly readable volume pairs informal essays with scholarly articles, all providing rich anthropological perspectives on the material elements of everyday life and how people build their identities, experiences, and relationships through them. . . . this collection of insights and arguments will serve general audiences, marketers, and students looking for fruitful ways of assessing consumer culture. Summing Up: Recommended. General readers; students, lower-division undergraduate and up; and professionals.February 2006 * Choice *Freakonomics, meet brandthropology. In this concise volume (a companion to his watershed 1998 effort) of articulate introspection and insightful ethnographic essays, the author exhorts anthropologists to take back their culture. . . . Culture and Consumption II is well suited for adoption as a supplementary text at any level in courses dealing with material culture or museology. * Museum Anthropology Review *. . . [McCracken's] freshness is as inspired and uplifting as it is novel. Culture and Consumption II is a wonderful read. * Journal of Advertising Research *Table of ContentsContentsAcknowledgmentsI. Introduction1. Living in the Material World2. On OprahII. Homes3. The Drew Bledsoe Paradox: The Mysterious Home Economics of Homo economicus4. Homeyness: A Cultural Account of One Constellation of Consumer Goods and MeaningsIII. Automobiles5. Calling Grease6. When Cars Could Fly: Raymond Loewy, John Kenneth Galbraith, and the 1954 BuickIV. Celebrities7. Marilyn Monroe, Inventor of Blondness8. Who Is the Celebrity Endorser? Cultural Foundations of the Endorsement ProcessV. Museums9. The Strange Power of Uncle Meyer's Wallet10. Culture and Culture at the Royal Ontario Museum: An Anthropological Approach to a Marketing ProblemVI. Advertising11. Taking Madison Avenue by Storm12. Advertising: Meaning versus InformationVII. Marketing13. Sarah Zupko, Meet Mrs. Woolworth14. Meaning-Management: An Anthropological Approach to the Creation of ValueBibliographyIndex

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Book Synopsis* Focused on the broad principles of behavior, which are illustrated using real-world examples from experimental literature as well as experiential examples. * Covers all the ways consumers and other economic agents behave in nonrational manner and prepares readers to make rational economic choices.Table of ContentsPreface xv 1 Rationality, Irrationality, and Rationalization 1 Part 1 Consumer Purchasing Decisions 2 Transaction Utility and Consumer Pricing 17 3 Mental Accounting 41 4 Status Quo Bias and Default Options 70 5 The Winner’s Curse and Auction Behavior 93 Part 2 Information and Uncertainty 6 Bracketing Decisions 125 7 Representativeness and Availability 156 8 Confirmation and Overconfidence 187 9 Decision under Risk and Uncertainty 214 10 Prospect Theory and Decision under Risk or Uncertainty 250 Part 3 Time Discounting and the Long and Short Run 11 Disagreeing with Ourselves: Projection and Hindsight Biases 281 12 Naïve Procrastination 309 13 Committing and Uncommitting 347 Part 4 Social Preferences 14 Selfishness and Altruism 389 15 Fairness and Psychological Games 417 16 Trust and Reciprocity 450 Glossary 473 Index 495

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Book SynopsisPopular culture assumes that women are born to shop and that cities invite their trade. But downtowns were not always welcoming to women. Emily Remus turns to Chicago at the turn of the last century to chronicle an unheralded revolution in women’s rights that took place not at the ballot box but in the streets and stores of the business district.Trade ReviewAs suburban shopping malls and more recently e-commerce eclipse commercial downtowns, the department stores and theaters that once anchored them are disappearing. Remus’s wonderful book has much to teach us about the past, present, and future of downtown. Not only did rising consumption reshape the built environment of central cities in the late nineteenth century, but so too did battles over who belonged—or did not—in this new public space. As the metropolitan landscape shifts again today, Remus’s fascinating insights into the past remind us that much more is at stake than simply where we shop. -- Lizabeth Cohen, author of A Consumers’ Republic: The Politics of Mass Consumption in Postwar AmericaA Shoppers’ Paradise creatively reframes our understanding of consumer culture. Through a series of brilliantly executed case studies of women in commercial public spaces in Chicago, Emily Remus highlights the interaction of pleasure, power, and danger. Drawing on forgotten conflicts over hats, hoop skirts, drinking, and other subjects, Remus highlights the political nature of debates about the right to consume. With special attention to legal cases, this book brings to life a rich and original archive. There is no book on consumer culture quite like this delightful and erudite study. -- Lawrence B. Glickman, author of Buying Power: A History of Consumer Activism in AmericaA Shoppers’ Paradise is an original and convincing contribution to our understanding of gender and public space in American cities. Remus argues that elite and middle-class women’s use of the public downtown landscape of theaters, cafes, shops, and the street as sites of consumption and pleasure over time transformed common awareness about the purpose of the downtown and women’s rights to the city as citizens. -- Jessica Ellen Sewell, author of Women and the Everyday City: Public Space in San Francisco, 1890–1915Helps to demonstrate how women participated in the transformation of Chicago’s culture simply by establishing their presence in public spaces. -- Linda Levitt * PopMatters *An engrossing and interdisciplinary study…Remus makes a compelling argument about affluent women’s impact on public space and vividly describes how they were central to the development of a thriving culture of consumption. With perceptive attention to the physical world(s) of moneyed women, the book adds to the literature not only on Chicago and urban history, but gender, the built environment, and material culture. -- Kathleen Daly * New England Journal of History *

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Book SynopsisExplores theoretical and empirical tools that economists use to investigate social interactions, and shows how a familiarity with these tools is essential for interpreting findings. This title examines how researchers address the challenge of separating personal, social, and cultural forces from economic ones.Trade Review"[T]his is a very nice book on a very complex and wide topic. To analyze urban economics, network economics, labor economics and growth together, both from a theoretical and empirical perspective, is really remarkable."--Yves Zenou, Journal of Economic Geography "Ioannides should be praised to have written a stimulating book that tries to interrelate social and spatial levels of complex economic phenomena. It is worth noting that this is something that should have more followers also in econometrics."--Andreas Koch, JASSSTable of ContentsPreface xi Chapter 1 Introduction 1 *1.1 From Urban Externalities to Urban Interactions 2 *1.2 Economies of Cities and New Economic Geography 6 *1.3 Urban Structure and Growth 8 *1.4 Urban Interactions, Politics, andUrban Design 9 *1.5 Moving Forward 9 Chapter 2 Social Interactions: Theory and Empirics 11 *2.1 Introduction 11 *2.2 A Simple Linear Model 14 *2.3 Endogenous Social Structure 22 *2.4 Nonlinear Models 30 *2.5 Why Experimental Data Can Help 38 *2.6 Endogenous Social Structure Revisited: Dynamics 44 *2.7 Econometrics of Social Interactions in Social Networks 53 *2.8 Spatial Econometrics Models as Social Interactions Models 61 *2.9 Social Learning in Urban Settings 64 *2.10 Conclusions 66 *2.11 Highlights of the Literature and Further Study 67 *2.12 Appendix: Basic Facts of Graph and Network Theory for Social Network Modeling 68 *2.13 Appendix: Survey of Micro Data Sources with Rich Contextual Information 71 Chapter 3 Location Decisions of Individuals and Social Interactions 79 *3.1 Introduction 79 *3.2 Aspatial Models of Location with Social Interactions 82 *3.3 An Exact Solution for Hedonic Prices in a Model of Sorting 88 *3.4 A Discrete Location Problem with Endogenous and Contextual Effects 95 *3.5 Endogenous Neighborhood Choice and Contextual Effects in Housing Decisions 97 *3.6 Spatial Clustering and Demographic Characteristics: Schelling's Models 115 *3.7 Hierarchical Models of Community Choice with Social Interactions 126 *3.8 Conclusion 134 *3.9 Appendices 135 Chapter 4 Location Decisions of Firms and Social Interactions 148 *4.1 Introduction 148 *4.2 Models of Location of Firms 150 *4.3 Location of Firms under Uncertainty 153 *4.4 Testing for Agglomeration 158 *4.5 Other Approaches to Studying Agglomeration Economies 169 *4.6 Empirical Evidence on Urbanization (Jacobs) Externalities: A Look from the Total Factor Productivity of Firms 180 *4.7 The Role of Inputs and Geography in Location Decisions of Firms 183 *4.8 Economic Geography Models for Firms' Location Decisions 188 *4.9 Risk Pooling by Firms in the Urban Economy 192 *4.10 Conclusion 198 Chapter 5 Social Interactions and Urban Spatial Equilibrium 200 *5.1 Introduction 200 *5.2 Urban Spatial Equilibrium with Social Interactions 206 *5.3 Location Decisions of Firms in Urban Space 212 *5.4 Monocentric versus Polycentric Models of the Urban Economy 217 *5.5 The Lucas-Rossi-Hansberg Models ofUrban Spatial Structure with Productive Externalities 219 *5.6 Neighborhood Effects and theGeometry of the Canonical Urban Model 226 *5.7 Transmission of Job-Related Information and Urban Equilibrium 234 *5.8 Choice of Job Matching and Spatial Structure 240 *5.9 Conclusions 246 Chapter 6 Social Interactions and Human Capital Spillovers 248 *6.1 Introduction 248 *6.2 Spatial Equilibrium 251 *6.3 Spatial Interactions and Spatial Economic Activity 253 *6.4 The Urban Wage Premium and Spatial Equilibrium 259 *6.5 Social Interactions and Human Capital Accumulation 268 *6.6 Social Interactions in Synthetic Neighborhoods 284 *6.7 Conclusions 286 *6.8 Guide to the Literature: Chapters 3-6 287 Chapter 7 Specialization, Intercity Trade, and Urban Structure 292 *7.1 Introduction 292 *7.2 Empirical Evidence on Urban Specialization and Diversification 294 *7.3 Simple Economics of Urban Specialization 297 *7.4 Specialization, Diversification, and Intercity Trade 306 *7.5 Equilibrium Urban Structure with Intercity Trade 318 *7.6 Richer Urban Structures 323 *7.7 The Role of Geography 326 *7.8 Labor Market Frictions in a System of Cities 330 *7.9 Modeling Lessons from the Empirics of Urban Specialization and Diversification 344 *7.10 Summary and Conclusions 346 Chapter 8 Empirics of the Urban Structure and Its Evolution 349 *8.1 Introduction 349 *8.2 Zipf's Law for Cities 350 *8.3 The Duranton Model of Endogenous City Formation 364 *8.4 The Hierarchy Principle 368 *8.5 Cities versus Metropolitan Areas versus Urban Places versus Densities versus Clusters 371 *8.6 Evolving Urban Structures with General Intradistribution Dependence 379 *8.7 Geography and Spatial Clustering 390 *8.8 Studies of Urban Structure Based on "Quasi-Natural Experiments" 393 *8.9 Global Aspects of City Size Distribution and Its Evolution 395 *8.10 Conclusion 396 Chapter 9 Intercity Trade and Long-Run Urban Growth 398 *9.1 Introduction 398 *9.2 Growth of Isolated Cities 401 *9.3 A Ventura-Type Model of Intercity Trade and Economic Growth 409 *9.4 Growth in an Economy of AutarkicCities 412 *9.5 Economic Integration, Urban Specialization, and Growth 420 *9.6 The Rossi-Hansberg-Wright Model of Urban Structure and Its Evolution 429 *9.7 Empirical Aspects of Urban Structure and Long-Run Urban Growth 434 *9.8 Sequential Urban Growth and Decay 440 *9.9 "Space: The Final Frontier?" 444 *9.10 Why Does a City Grow? 447 *9.11 Guide to the Literature for Chapters 7-9 448 Chapter 10 Urban Magic: Concluding Remarks 451 *10.1 Networks, Urban Infrastructure, and Social Interactions 452 *10.2 Graphs and the City 454 Notes 457 Bibliography 483 Index 517

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Book SynopsisGives insight into the methods of behavioral research, and highlight how this knowledge might influence the implementation of public policy for the improvement of society. This title illuminates the relationship between behavioral findings and economic analyses. It examines policy relevance of behavioral science to our social and political lives.Trade Review"[Behavioral Foundations of Public Policy] is a master compendium of what we know."--David Brooks, New York Times "I would recommend this book to anyone looking for a comprehensive perspective on the potential and limitations of the behavioural insights popularized by Nudge and similar works... Those in government, non-profits, and the private sector interested in empirically supported ways to motivate people to act in their own best interest will find a rich source of examples and exposure to underlying theory in The Behavioral Foundations of Public Policy."--Jennifer Miller, LSE Review of Books "[This] is a commanding summary of scholarly work testing some of the most influential theories of how and why people behave as they do, and will be a valuable resource for students, researchers and policy makers looking for a balanced and comprehensive discussion of what can work and what is not known."--Manu Savani, Political Studies ReviewTable of ContentsForeword vii Daniel Kahneman List of Contributors xi Acknowledgments xvii Introduction 1 Eldar Shafir Part 1. Prejudice and Discrimination * Chapter 1. The Nature of Implicit Prejudice: Implications for Personal and Public Policy 13 * Curtis D. Hardin, Mahzarin R. Banaji* Chapter 2. Biases in Interracial Interactions: Implications for Social Policy 32 * J. Nicole Shelton, Jennifer A. Richeson, John F. Dovidio* Chapter 3. Policy Implications of Unexamined Discrimination: Gender Bias in Employment as a Case Study 52 * Susan T. Fiske, Linda H. Krieger Part 2. Social Interactions * Chapter 4. The Psychology of Cooperation: Implications for Public Policy 77 * Tom Tyler* Chapter 5. Rethinking Why People Vote: Voting as Dynamic Social Expression 91 * Todd Rogers, Craig R. Fox, Alan S. Gerber* Chapter 6. Perspectives on Disagreement and Dispute Resolution: Lessons from the Lab and the Real World 108 * Lee Ross* Chapter 7. Psychic Numbing and Mass Atrocity 126 * Paul Slovic, David Zionts, Andrew K. Woods, Ryan Goodman, Derek Jinks Part 3. The Justice System * Chapter 8. Eyewitness Identification and the Legal System 145 * Nancy K. Steblay, Elizabeth F. Loftus* Chapter 9. False Convictions 163 * Phoebe Ellsworth, Sam Gross* Chapter 10. Behavioral Issues of Punishment, Retribution, and Deterrence 181 * John M. Darley, Adam L. Alter Part 4. Bias and Competence * Chapter 11. Claims and Denials of Bias and Their Implications for Policy 195 * Emily Pronin, Kathleen Schmidt* Chapter 12. Questions of Competence: The Duty to Inform and the Limits to Choice 217 * Baruch Fischhoff, Sara L. Eggers* Chapter 13. If Misfearing Is the Problem, Is Cost-Benefit Analysis the Solution? 231 * Cass R. Sunstein Part 5. Behavioral Economics and Finance * Chapter 14. Choice Architecture and Retirement Saving Plans 245 * Shlomo Benartzi, Ehud Peleg, Richard H. Thaler* Chapter 15. Behavioral Economics Analysis of Employment Law 264 * Christine Jolls* Chapter 16. Decision Making and Policy in Contexts of Poverty 281 * Sendhil Mullainathan, Eldar Shafir Part 6. Behavior Change * Chapter 17. Psychological Levers of Behavior Change 301 * Dale T. Miller, Deborah A. Prentice* Chapter 18. Turning Mindless Eating into Healthy Eating 310 * Brian Wansink* Chapter 19. A Social Psychological Approach to Educational Intervention 329 * Julio Garcia, Geoffrey L. Cohen Part 7. Improving Decisions * Chapter 20. Beyond Comprehension: Figuring Out Whether Decision Aids Improve People's Decisions 351 * Peter Ubel* Chapter 21. Using Decision Errors to Help People Help Themselves 361 * George Loewenstein, Leslie John, Kevin G. Volpp* Chapter 22. Doing the Right Thing Willingly: Using the Insights of Behavioral Decision Research for Better Environmental Decisions 380 * Elke U. Weber* Chapter 23. Overcoming Decision Biases to Reduce Losses from Natural Catastrophes 398 * Howard Kunreuther, Robert Meyer, Erwann Michel-Kerjan Part 8. Decision Contexts * Chapter 24. Decisions by Default 417 * Eric J. Johnson, Daniel G. Goldstein* Chapter 25. Choice Architecture 428 * Richard H. Thaler, Cass R. Sunstein, John P. Balz* Chapter 26. Behaviorally Informed Regulation 440 * Michael S. Barr, Sendhil Mullainathan, Eldar Shafir Part 9. Commentaries * Chapter 27. Psychology and Economic Policy 465 * William J. Congdon* Chapter 28. Behavioral Decision Science Applied to Health-Care Policy 475 * Donald A. Redelmeier* Chapter 29. Quis custodiet ipsos custodes? Debiasing the Policy Makers Themselves 481 * Paul Brest* Chapter 30. Paternalism, Manipulation, Freedom, and the Good 494 * Judith Lichtenberg Index 499

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Book SynopsisTrade Review"This is a fascinating look at the way other people unconsciously determine our everyday behaviour and is a useful addition to the many works on how human psychology affects economic decision making." * Money Week *"Frank's points . . . raise some big questions. Which reminds us that economics cannot be a merely technocratic discipline."---Chris Dillow, Stumbling & Mumbling"This broadly themed book addresses the complexities of our social environments — for example, how group behavior gives rise to bullying — but a lot of what it discusses applies to worldwide environmental issues, too. The result is a combination of psychology and economics that illustrates how the human ‘herd instinct’ can be put to good use to solve the climate crisis and other problems."---John R. Platt, The Revelator"An invaluable new book. . . . If policy-makers have any sense, this book will be as important a manual in the 2020s as Nudge was in the 2010s."---Felix Martin, New Statesman"This erudite, provocative book is apt for reading now."---Julia Hobsbawm, Evening Standard"Extraordinarily timely: It’s an effort to show that the economics of social contagion could reshape the world, solving our hardest problems — from climate change to income inequality — and offering new ways to think about the power we have as individuals. Absent the pandemic, its argument might’ve seemed abstract, optimistic. But now we’ve seen it happen. We are watching a version of Frank’s thesis play out right now, in real time. In the wake of coronavirus, social pressure has driven perhaps the single fastest behavioral transformation in human history. It is the example and pressure we face from each other that has made social distancing so effective, so fast. And if social pressure can do that — what else can it do?"---Ezra Klein, Vox"Throughout his career, in influential books . . . Frank has examined the importance of status-seeking and social interactions in society and the economy. Continuing with that theme, Under the Influence argues that social context shapes choices far more than many people realize. . . . As usual, Frank’s book is full of information and insights that will interest even those who do not agree with his policy agenda."---R. M. Whaples, Choice

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