Optimally Irrational

The Good Reasons We Behave the Way We Do

Häftad, Engelska, 2022

Av Lionel Page, Lionel (University of Queensland) Page

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For a long time, economists have assumed that we were cold, self-centred, rational decision makers - so-called Homo economicus; the last few decades have shattered this view. The world we live in and the situations we face are of course rich and complex, revealing puzzling aspects of our behaviour. Optimally Irrational argues that our improved understanding of human behaviour shows that apparent 'biases' are good solutions to practical problems - that many of the 'flaws' identified by behavioural economics are actually adaptive solutions. Page delivers an ambitious overview of the literature in behavioural economics and, through the exposition of these flaws and their meaning, presents a sort of unified theory of behaviouralism, cognitive psychology and evolutionary biology. He gathers theoretical and empirical evidence about the causes of behavioural 'biases' and proposes a big picture of what the discipline means for economics.

Produktinformation

Utgivningsdatum2022-11-03
Mått152 x 229 x 17 mm
Vikt480 g
FormatHäftad
SpråkEngelska
Antal sidor322
FörlagCambridge University Press
ISBN9781009209205

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Mikroekonomi inom Ekonomi och ledarskap

Part I. Setting the Scene: 1. The homo economius model; 2. The psychology of biases in human behaviour; 3. The logic of a scientific revolution in economics; 4. Evolution and the logic of optimism; Part II. Individual Decisions: 5. Rules of thumb and gut feelings; 6. Reference points and aversion to losses; 7. Sensitivity to probability; 8. The randomness of choices; 9. Impatience; Part III. Social interactions; 10. Kindness and reciprocity; 11. Emotions and commitment; 12. Social identity; 13. Impression management; 14. Selection of delusion; Part IV. Epilogue; 15. Rationality?

'What is behavioural economics and how has it affected the way economic research is conducted, used and perceived? Is behavioural economics defined by the questions it poses, the methods it employs, or by something else? How are economics' questions and methods affected by behavioural economics? Almost a century after the official divorce of economics from psychology, and some three decades into the behavioural revolution, Lionel Page offers a lucid and intelligent assessment of the state of the science. With a strong and enlightening focus on historical and philosophical perspectives, Optimally Irrational suggests evolutionary psychology as a guiding principle for organizing our knowledge, striking a balance between observation and theory, and helping us to tell apart insightful analysis from fanciful idealisation, as well as robust findings from anecdotal evidence.' Itzhak Gilboa, Professor of Economics and Decision Sciences, HEC Paris