Description

Book Synopsis
The 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 Contents
Contents: 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.

Information and Decision in Behavioral Economics

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    A Hardback by Adam Biela

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      Publisher: Peter Lang AG
      Publication Date: Publication Date: 17/01/2013
      ISBN13: 9783631633809, 978-3631633809
      ISBN10: 3631633807

      Description

      Book Synopsis
      The 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 Contents
      Contents: 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.

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