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Psychologists have a long tradition of studying human behavior, strengths and weaknesses, biases and limitations. Economists have constructed normative frameworks that capture the most important elements of human decision-making and developed powerful tools to determine individual and strategic choices in a variety of situations. Only recently have their strengths been combined and economic models enriched with key ingredients found in psychological studies. This volume covers four of the most important themes in this interdisciplinary field: feelings, inconsistencies, limitations and biases. Each chapter contributes to a more comprehensive and accurate modelling and description of human behavior. Its four parts cover: the origins, formation, and evolution of beliefs; consistency, commitment, and intertemporal separability of dynamic choices; attention, preference formation, and risk evaluation in limited cognition; and affective behaviour, specifically the role of emotions in decision making.

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Book Details

ISBN: 9780199257225
ISBN-10: 0199257221
Format: Paperback
(233mm x 156mm x 15mm)
Pages: 258
Imprint: Oxford University Press
Publisher: Oxford University Press
Publish Date: 22-Jul-2004
Country of Publication: United Kingdom

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Author Biography - Isabelle Brocas

Juan D. Carrillo is Associate Professor at the University of Southern California, and is currently on leave from the Free University of Brussels. He is also a research affiliate at CEPR, a research advisor at EERC (Russia), and Associate Editor of the Spanish Economic Review.

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Psychology of Economic Decisions by Isabelle Brocas

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