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Is behavioral economics doomed?: the ordinary versus the extraordinary

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It is fashionable to criticize economic theory for focusing too much on rationality and ignoring the imperfect and emotional way in which real economic decisions are reached. All of us facing the global economic crisis wonder just how rational economic men and women can be. Behavioral economics — an effort to incorporate psychological ideas into economics — has become all the rage.
This book by well-known economist David K. Levine questions the idea that behavioral economics is the answer to economic problems. It explores the successes and failures of contemporary economics both inside and outside the laboratory. It then asks whether popular behavioral theories of psychological biases are solutions to the failures. It not only provides an overview of popular behavioral theories and their history, but also gives the reader the tools for scrutinizing them.
Levine’s book is essential reading for students and teachers of economic theory and anyone interested in the psychology of economics.

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Detail Information

Series Title

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Call Number

330.019 LEV i

Publisher

Cambridge, UK : Open Book Publishers., 2012

Collation

vii, 154 p. ; ill

Language

English

ISBN/ISSN

9781906924942

Classification

330.019

Content Type

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Media Type

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Carrier Type

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Edition

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Subject(s)

Economics--Psychological aspects
Rational choice theory

Specific Detail Info

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Statement of Responsibility

by David K. Levine

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