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201061

Misbehaving: The Making of Behavioral Economics

Traditional Economics Assumes Rational Actors. Early In His Research, Thaler Realized These Spock-like Automatons Were Nothing Like Real People. Whether Buying A Clock Radio, Selling Basketball Ticket...s, Or Applying For A Mortgage, We All Succumb To Biases And Make Decisions That Deviate From The Standards Of Rationality Assumed By Economists. In Other Words, We Misbehave. More Importantly, Our Misbehavior Has Serious Consequences. Dismissed At First By Economists As An Amusing Sideshow, The Study Of Human Miscalculations And Their Effects On Markets Now Drives Efforts To Make Better Decisions In Our Lives, Our Businesses, And Our Governments--amazon.com. Argues That Economical Trends Cannot Be Predicted As Much As Thought, Mainly Because Humans Are So Unpredictable, And Reveals How Behavioral Economic Analysis Opens Up New Ways To Look At Everything From Household Finance To Assigning Faculty Offices In A New Building. Preface -- I. Beginnings: 1970-78 -- 1. Supposedly Irrelevant Factors -- 2. The Endowment Effect -- 3. The List -- 4. Value Theory -- 5. California Dreamin' -- 6. The Gauntlet -- Ii. Mental Accounting: 1979-85 -- 7. Bargains And Rip-offs -- 8. Sunk Costs -- 9. Buckets And Budgets -- 10. At The Poker Table -- Iii. Self-control: 1975-88 -- 11. Willpower? No Problem -- 12. The Planner And The Doer -- Interlude -- 12. Misbehaving In The Real World -- Iv. Working With Danny: 1984-85 -- 14. What Seems Fair? -- 15. Fairness Games -- 16. Mugs -- V. Engaging With The Economics Profession: 1986-94 -- 17. The Debate Begins -- 18. Anomalies -- 19. Forming A Team -- 20. Narrow Framing On The Upper East Side -- Vi. Finance: 1983-2003 -- 21. The Beauty Contest -- 22. Does The Stock Market Overreact? -- 23. The Reaction To Overreaction -- 24. The Price Is Not Right -- 25. The Battle Of Closed-end Funds -- 26. Fruit Flies, Icebergs, And Negative Stock Prices -- Vii. Welcome To Chicago: 1995-present -- 27. Law Schooling -- 28. The Offices -- 29. Football -- 30. Game Shows -- Viii. Helping Out: 2004-present -- 31. Save More Tomorrow -- 32. Going Public -- 33. Nudging In The U.k. -- Conclusion: What Is Next? -- Notes -- Bibliography -- List Of Figures -- Acknowledgments -- Index. Richard H. Thaler. Includes Bibliographical References (pages 373-391) And Index.

Author:

Richard H. Thaler

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117144

The Little Book of Behavioral Investing: How Not to Be Your Own Worst Enemy

Ben Graham, the father of value investing, once said: "The investor's chief problem—and even his worst enemy—is likely to be himself." Sadly, Graham's words are still true today. Bias, e...motion, and overconfidence are just three of the many behavioral traits that can lead investors to lose money or achieve lower returns. Fortunately, behavioral finance, which recognizes that there is a psychological element to all investor decision making, is now firmly embedded in the mainstream of finance. Applying behavioral principles to an investment portfolio can help investors avoid some of the mental pitfalls that so often cost them, and financial institutions, billions. In The Little Book of Behavioral Investing, behavioral finance expert James Montier takes you on a guided tour of the most common behavioral challenges and mental pitfalls that investors encounter, and provides you with strategies to eliminate these traits. Along the way, he shows how some of the world's best investors have tackled the behavioral biases that drag down investment returns, so that you might be able to learn from their experiences.Page by page, Montier explains the importance of learning to prepare, plan, and then commit to a strategy—that is, do your investment research while you are in a "cold" rational state, when nothing much is happening in the markets—and then pre-commit to following your analysis and action steps. He also stresses the folly of trying to forecast what the markets will do, and reveals how the idea of investing without pretending you know the future gives you a very different perspective. Throughout the book, Montier stresses why the need to focus on process rather than outcomes is critical in investing. Focusing upon process, he shows, frees us up from worrying about aspects of investment that we really can't control—such as returns. By focusing upon process, we maximize our potential to generate good long-term profits.The Little Book of Behavioral Investing offers a range of time-tested ways to identify and avoid the pitfalls of investor bias. By following these simple strategies, you will learn to overcome your own worst enemy when it comes to investments—yourself.

Author:

James Montier

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28607

Why Smart People Make Big Money Mistakes - And How to Correct Them: Lessons from the New Science of Behavioral Economics

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Author:

Gary Belsky

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15139

About Behaviorism

The basic book about the controversial philosophy known as behaviorism, written by its leading exponent. Bibliography, index. The basic book about the controversial philosoph...y known as behaviorism, written by its leading exponent.

Author:

B.F. Skinner

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33113

Microeconomics

No description available

Author:

Robert S. Pindyck

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167013

The Irrational Bundle

Dan Ariely's three New York Times bestselling books on his groundbreaking behavioral economics research, Predictably Irrational, The Upside of Irrationality, and The (Honest) Truth About Dishonesty, a...re now available for the first time in a single volume.

Author:

Dan Ariely

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116720

Value Investing And Behavioral Finance: Insights Into Indian Stock Market Realities

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Author:

Parag Parikh

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259395

The Behavioral Investor

No description available

Author:

Daniel Crosby

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62056

Theory of Games and Economic Behavior

John Von Neumann And Oskar Morgenstern. This Ed. Originally Published: 2004. Includes Bibliographical References And Index. Mode Of Access: World Wide Web.

Author:

John von Neumann

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135851

Thinking Like An Economist: A Guide To Rational Decision Making

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Author:

Randall Bartlett

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