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Behavioural Economics

Behavioural Economics

Psychology, Neuroscience, and the Human Side of Economics

by David Orrell
Paperback
Publication Date: 02/03/2021

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The controversial science that claims to have revolutionised economics.

For centuries, economics was dominated by the idea that we are rational individuals who optimise our own 'utility'. Then, in the 1970s, psychologists demonstrated that the reality is a lot messier. We don't really know what our utility is, and we care about people other than ourselves. We are susceptible to external nudges. And far from being perfectly rational we are prone to 'cognitive biases' with complex effects on decision-making, such as forgetting to prepare for retirement.

David Orrell explores the findings from psychology and neuroscience that are shaking up economics - and that are being exploited by policy-makers and marketers alike, to shape everything from how we shop for food, to how we tackle societal happiness or climate change. Finally, he asks: is behavioural economics a scientific revolution, or just a scientific form of marketing?
ISBN:
9781785786440
9781785786440
Category:
Economic theory & philosophy
Format:
Paperback
Publication Date:
02-03-2021
Language:
English
Publisher:
Icon Books, Limited
Country of origin:
United Kingdom
Dimensions (mm):
198.12x129.03x13.97mm
Weight:
0.17kg
David Orrell

David Orrell is a scientist and writer of books on science and economics. According to the Sunday Times 'Orrell is an engaging and witty writer, adept at explaining often complicated theories in clear language.' His latest books are The Money Formula: Dodgy Finance, Pseudo Science, and How Mathematicians Took Over the Markets, written with Paul Wilmott; and Economyths: 11 Ways Economics Gets It Wrong (Icon Books, 2017).

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