02657cam a22002655a 45000010009000000050017000090080041000260200018000670400033000850820021001181000029001392450058001682600051002263000026002774900048003035000024003515040031003755201719004066500052021256510010021776530025021879420008022129990017022209520154022371781710920161128151457.0130718s2014    nyu    frb   f001 0 eng d  a9781107039346  aDLCbengcDLCdDLCdEG-ScBUE04a330.019222bHEU1 aHeukelom, Floris,d1978-10aBehavioral economics :ba history /cFloris Heukelom.  aNew York :bCambridge University Press,c2014.  axii, 223 p. ;c24 cm.0 aHistorical perspectives on modern economics  aIndex : p. 221-223.  aBibliography : p. 401-220.  a"In economics, the market has been understood to steer behavior towards a competitive equilibrium in which all economic actors behave optimally, and in which welfare of society is maximized. Yet many economists have also seen shortcomings to this ideal picture of the market in the form of limited information, too few buyers or sellers, adverse selection, moral hazards, and other caveats. What psychologists Daniel Kahneman and Amos Tversky brought to economics in the 1980s, was the idea that imperfections in the market may in addition be caused by fallible human behavior. This resulted in a new branch of economics called behavioral economics and it won Kahneman the Nobel Memorial Prize in Economics in 2002 (Tversky had died in 1996). This book presents a history of behavioral economics. The common rationale of behavioral economics in the 1980s - 2000s was in one version or another that "Behavioral economics increases the explanatory power of economics by providing it with more realistic psychological foundations" (Camerer and Loewenstein, 2004, p.3). This definition conceals a complicated relationship between economics and psychology that goes back at least to the eighteenth century. In addition, it suggests that economics and psychology are stable, universal entities. But also the label of behavioral economics itself seems odd. If economics deals with the behavior of individuals in the economy, 'behavioral economics' seems a confusing pleonasm. If on the other hand one argues that economics by definition deals with structures and institutions superseding and independent of theories of human behavior, 'behavioral economics' seems oxymoronic. In any case, it calls for some explanation"-- 7aEconomicsxPsychological aspects.2BUEsh936720  2BUEsh  bBUSECOcNovember2016  2ddc  c23378d23350  00102ddc40708BaccahaMAINbMAINc1STd2016-11-28ePurchaseg965.00l4m4o330.019 HEUp000040125q2022-12-21r2022-11-21 00:00:00s2022-11-21yBB