Optimally Irrational

ISBN-13: 9781009209199 / Angielski / Twarda / 2022

Lionel (University of Queensland) Page

Opis

The seemingly irrational, puzzling aspects of human behaviour are not bugs, but features. Improving our navigation of the real world.

Recenzje

'The human mind is an elaborate product of natural selection. Optimally Irrational is very welcome in bringing into focus the evolutionary underpinnings of human cognition as applied to economic decisions. Behavioural economics has often taken psychological mechanisms as arbitrary, without regard to the evolutionary design problems that created them. Such an atheoretical approach is questionable in view of the replication crisis in psychology. Page's deeper examination of behavioural economics is thoughtful and wide ranging. I learned much from this insightful and engaging book.' David Hirshleifer, Professor of Finance, University of California at Irvine

Spis treści

Part I. Setting the Scene: 1. The homo economius model; 2. The psychology of biases in human behaviour; 3. The logic of a scientific revolution in economics; 4. Evolution and the logic of optimism; Part II. Individual Decisions: 5. Rules of thumb and gut feelings; 6. Reference points and aversion to losses; 7. Sensitivity to probability; 8. The randomness of choices; 9. Impatience; Part III. Social interactions; 10. Kindness and reciprocity; 11. Emotions and commitment; 12. Social identity; 13. Impression management; 14. Selection of delusion; Part IV. Epilogue; 15. Rationality?