An Introduction to Behavioral Economics

NICK WILKINSON is Professor at Richmond the American International University in London and has taught economics and finance in various international institutions in the UK and USA. He has also worked in business management in both countries and served as a consultant to many companies, mainly in the leisure industry. He has authored two books, 'Managerial Economics: A Problem-Solving Approach', published by Cambridge University Press (2005), and 'An Introduction to Behavioral Economics', published by Palgrave Macmillan (2007), now in its second edition. His research interests lie in that field, particularly in the implications of evolutionary biology and neuroscience for behavioral economics. MATTHIAS KLAES is Professor and Dean of the School of Business at the University of Dundee, UK, as well as Convenor of the Scottish Centre for Economic Methodology (SCEME). Having studied at universities in Germany, Holland, France, Scotland, and England, he has got a background in engineering, economics and management studies, as well as science studies. He has served as Managing Editor of the Journal for Economic Methodology, and has acted as adviser to both private and public sector bodies. Before joining Dundee he was Professor of Commerce at Keele University, and Reader in Economics at the University of Stirling. He publishes widely in new institutional and behavioral economics, and economic and management methodology.

PARTI: INTRODUCTION.- Nature of Behavioral Economics.- Methodology.- PARTII: FOUNDATIONS.- Values, Preferences and Choices.- Beliefs, Heuristics and Biases.- Decision-making under Risk and Uncertainty.- Mental Accounting.- PARTIII: INTERTEMPORAL CHOICE.- The Discounted Utility Model.- Alternative Intertemporal Choice Models.- PARTIV: STRATEGIC INTERACTION.- Behavioral Game Theory.- Social Preferences.- PARTV: CONCLUSION.- Behavioral Economics: Summary and Outlook.