Description
Book SynopsisThe book presents an integrative viewpoint of behavioral economics as an approach to analyze the behavior of decision-makers in various economic situations. Special attention is paid to the significance of experimental methods, enabling for example the collection of information for a decision-maker in a dynamic decision situation, to reduce uncertainty. In addition, behavioral economics offers the possibility to study human choices in the context of the economic life of people, also considering their perception of reality in their own cognitive categories.
Table of ContentsContents: Information and decision – Decision situation – Behavioral economics as a theoretical approach – Decision as human behavior – Searching for new information – Informational process in a decision-making situation – Cognitive fallacies (biases) – Sequential search for probabilistic information – Experimental decision-making game as an empirical model.
