Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics.
This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career.
Author(s): B. Douglas Bernheim, Stefano DellaVigna, David Laibson
Series: Handbook of Behavioral Economics 1
Year: 2018
Language: English
Pages: 737
CHAPTER 1 Reference-Dependent Preferences......Page 10
CHAPTER 2 Psychology-Based Models of Asset Prices and Trading Volume......Page 87
CHAPTER 3 Behavioral Household Finance......Page 184
CHAPTER 4 Behavioral Corporate Finance......Page 284
CHAPTER 5 Behavioral Public Economics......Page 387
1. INTRODUCTION......Page 388
2. BEHAVIORAL WELFARE ECONOMICS......Page 390
2.1 What is welfare?......Page 391
2.2.1 The behavioral critique of standard welfare economics......Page 393
2.2.2 Behavioral revealed preference......Page 394
2.2.3 The Bernheim–Rangel framework......Page 402
2.2.4 Empirical implementation of choice-oriented methods......Page 409
2.2.6 The problem of the second best......Page 418
2.2.7 Social aggregation......Page 419
2.3.1 SRWB as an implementation of preference theory......Page 420
2.3.2 SRWB as an implementation of mental statism......Page 421
2.4 Flavors of paternalism and justifications for government intervention......Page 425
CHAPTER 6 Behavioral Industrial Organization......Page 523
CHAPTER 7 Structural Behavioral Economics......Page 619
INDEX......Page 730
