Description
Behavioural Economics and Experiments explores vital questions around decision making and human nature. Assuming no prior knowledge of economics, this accessible book features wide ranging examples from literature, film, sport, neuroscience and beyond. Ananish Chaudhuri expertly tackles the complex relationships between human behaviour, society and decision making, introducing readers to the latest work on heuristics, framing and anchoring, as well as ideas around fairness, trust and social norms. The book offers a fresh perspective on issues such as:• Decision making under uncertainty• Strategic Thinking• Firms’ pricing decisions• Employment contracts• Coordination failures in organizations• Preventing bubbles in financial markets• How behavioural insights are providing a novel perspective on economic developmentThe second edition includes new chapters on auctions, contests and discussion of AI and algorithmic decision making. Additional features include highlighted key definitions, end-of-chapter discussion questions, an extensive test bank and suite of webcasts related to each chapter to support learning and teaching, especially for those wishing to implement a flipped-classroom approach. The book is an ideal introduction for students of behavioural economics, experimental economics, public policy, psychology and other business-related programmes. The lucid writing style makes the book accessible to policymakers and curious laymen.