Filled with real world examples ranging from sports to politics and backed by experimental evidence, this book takes the reader on a wonderful journey examining human behavior, individual and collective decision making, trust, fairness, cooperation and competition. Chaudhuri is a gifted writer, and the book will be treasured by experts in the field as well as those who would like to learn more about behavioural economics.
Iris Bohnet, Albert Pratt Professor of Business and Government; Academic Dean, Harvard Kennedy School; Author of “What Works: Gender Equality by Design”
I strongly recommend this clear, lively and engaging book to all readers, including those without any training in economics, who want to understand how real people decide how much to trust others in everyday life.
Paul Seabright, Director, Institute of Advanced Study in Toulouse; Author of “The Company of Strangers” and “The War of the Sexes”
This is an extremely absorbing book covering key topics in behavioural and experimental economics, but with applications and anecdotes that go far beyond economics. The book provides an excellent overview of the field and its most recent developments. It is an indispensable source of inspiration for the researcher and a treasure trove of examples for the teacher.
Martin Kocher, Director, Institute for Advanced Studies, Vienna; Professor in Economics, University of Vienna; Former Co-Editor, Journal of Economic Psychology
Chaudhuri has written an extremely readable introduction to experimental economics. This is perfect for advanced undergrads or graduate students who want to learn about state-of-the-art research without being smothered by technical details.
David J. Cooper; Brim Eminent Scholar in Economics and Director of XS/FS, Florida State University; Former Co-Editor, Experimental Economics
This book is a perfect introduction to behavioral and experimental economics and fills a much needed niche for the classroom. Ananish Chaudhuri is a gifted author whose conversational writing style is easily accessible for undergraduates, yet detailed enough to use as an introduction for graduate students. He motivates each topic with engaging real-world examples before discussing related research. It’s a fun book to read and students will certainly enjoy it. Highly recommended.
James Murphy, Rasmuson Chair in Economics, University of Alaska, Anchorage; Affiliate Faculty, Economic Science Institute, Chapman University
Dr. Chaudhuri’s new book on behavioral economics teaches us how human psychology impacts the decisions that we make. His book reflects his teaching style: Professor Chaudhuri uses straight-forward, real world stories to clearly explain behavioral economics theories. This book is easy to read and a great way to learn these important concepts.
Belinda Juran, Retired Partner, WilmerHale, Boston, USA; Advanced Leadership Initiative Fellow, Harvard University, 2020
Table of Contents
- Preface [Read the Preface]
- Chapter 1: How we decide
- Chapter 2: Experiments in behavioural economics
- Chapter 3: Gut feelings and effortful thinking
- Chapter 4: Expected utility theory and prospect theory
- Chapter 5: Probabilistic thinking
- Chapter 6: Thinking Strategically
- Chapter 7: The Ultimatum Game
- Chapter 8: Market implications of the Ultimatum Game
- Chapter 9: Trust and trustworthiness in everyday life
- Chapter 10: Trust and trustworthiness in markets
- Chapter 11: Cooperation in social dilemmas
- Chapter 12: The carrot or the stick: Sustaining cooperation in social dilemmas
- Chapter 13: I will if you will: Resolving coordination problems in organizations
- Chapter 14: Behavioural Analysis of Markets
- Chapter 15: Asset bubbles in markets