A Course in Behavioral Economics, 2nd Edition

A concise and reader-friendly textbook on one of the hottest developments in social and behavioral science today. Covering all core areas of the subject, Erik Angner clearly lays out the theory and explains the intuitions behind it. It is full of examples, exercises, and problems drawn from fields such as economics, management, marketing, political science, and public policy. Among other things, the book shows how to apply principles of behavioral economics to science, business, medicine, and daily life. No advanced mathematics is required.

An ideal introduction for students coming to behavioral economics from various fields, at both undergraduate and postgraduate levels. It is equally suitable for general readers who have been captivated by popular-science books on behavioral economics and want to know more.

“''Packed with wisdom, insight, humor, and compelling examples, and admirable in its breadth and depth of coverage, A Course in Behavioral Economics is a superb choice for instructors teaching such a course or for those who want to master the topic on their own.'' George Loewenstein, Carnegie Mellon University, USA "Erik Angner does an excellent job of introducing behavioral economics, and, in doing so, provides a fresh view on neoclassical economics. With clear and engaging examples, this book is a great introduction to a complex topic." David Redish, University of Minnesota, USA "This book provides an enlightening treatment of all the big ideas in behavioural economics, presented in a very accessible way. The structure of the book is great: key concepts in behavioural economics are motivated by considering the classical approach and developing a narrative of anomalous behaviour that identifies where classical models lack descriptive power, and what behavioural models must capture to be more useful in understanding the real world. Explanations of key behavioural insights are clear and deep without becoming tedious; examples are illuminating and fun; and exercises both test students'' understanding and provoke them to think further about the topic. In summary, this is an excellent resource for an introductory course in behavioural economics.'' Alex Dickson, Strathclyde Business School, UK ''Erik Angner''s A Course in Behavioral Economics quickly and efficiently introduces all aspects of this exciting discipline. It is a must-use for every student new to the field, and for everyone else who wants to be on a par with the most recent developments in behavioral economics.'' Floris Heukelom, Radboud University, The Netherlands "Angner''s book is succinct, yet comprehensive and affordable to boot. My students find it very helpful and fun to read. I agree with them." Kristin J. Kleinjans, California State University Fullerton, USA ''A new chapter on policymakers'' use of behavioral economics (''the nudge agenda'') provides a clear discussion of the under-appreciated instruments that regulators have in their toolkit today. Students will also benefit from Angner''s much-needed correction of popular misconceptions about soft paternalism. Without assuming that nudges are always effective, the book explains that nudges can sometimes improve the confusing maze of existing policies.'' Jan Zilinsky, Peterson Institute for International Economics, USA Praise for the first edition: "Written with great gusto and striking an elegant balance between forest and trees, Angner''s A Course in Behavioral Economics is one of those rare textbooks that students pick up for fun. What more can you want?" Peter D. van der Meer, School of Economics, Utrecht University, The Netherlands. '''''' A Course in Behavioral Economics '' guides the reader to develop their own understanding of behavioral economics through contrasting it against the foundations of neoclassical theory. The textbook will appeal to all: the instructor will appreciate the cohesion and brevity of explanations, the critical reader will be rewarded by the thought-provoking exercises embedded into the text, the interested researcher will be delighted to find the ''Further reading'' section a significant upgrade from the traditional reference list.'''' Natalia V. Czap, Department of Social Sciences, University of Michigan-Dearborn, USA. "The author did an excellent job by writing a highly-needed comprehensive textbook on behavioral economics that can very well be used for teaching undergraduates. The book covers individual decision-making as well as strategic decision-making, is well-structured, and contains many exercises." Kirsten I.M. Rohde, Erasmus School of Economics, Erasmus University Rotterdam, The Netherlands. "Angner has done an outstanding job of introducing the field of behavioral economics with this very well-written and extremely fun-to-read book. With its compare-and-contrast approach, this book will appeal not only to students interested in exploring behavioral economics, but also to the devout followers of mainstream economics." Elif Incekara-Hafalir, Tepper School of Business, Carnegie Mellon University, USA. "One of the very first textbooks on behavioral economics! An excellent introduction that is accessible to economics and non-economics undergraduates alike. Covers all major topics in this increasingly influential field." Dan Benjamin, Economics Department, Cornell University, USA. ''''This is a superb introduction to behavioral economics. Angner skillfully balances rigor, accessibility and humor to produce a book that is as enjoyable to teach from as it is to read.'''' Jonathan Lafky, Economics Department, Lafayette College, USA. "Erik Angner has provided the ideal textbook for an introductory course in behavioral economics. It is comprehensive, rigourous, and accessible. It is rich with examples and exercises and it conveys the essence of behavioral economics by contrasting it with standard economic theory. This book makes behavioral economics more easy to teach and more fun to learn." Jan Potters, Department of Economics, Tilburg University, The Netherlands. "Erik Angner''s textbook is both exact and entertaining. Not compromising on properly introducing mainstream decision theory, the author demonstrates how certain behavioral regularities pose a serious challenge to it. Importantly, the reader is left with a good basis for solving their own behavioral puzzles rather than merely with a collection offered by the author. The text is suitable both as a starting point for a behaviorally-minded microeconomics course, as well as an introduction into the field of behavioral economics." Jana Vyrastekova, Economics Department, Nijmegen School of Management, University of Nijmegen, The Netherlands. "This is an excellent introductory textbook that fills an important niche. It discusses the history and methodology of behavioral economics and covers the most important research topics in an engaging way. To illustrate challenging concepts and ideas, the text includes intuitive examples ranging from the importance of your wingman''s attractiveness through reasons for becoming a drug addict or curiosity about your colleague''s salary. In the preface, Erik Angner writes: ''[This is] the book I wish I had had as a student and the book that I want to use as a teacher.'' I could not agree more!" Maroš Servátka, New Zealand Experimental Economics Laboratory, Department of Economics and Finance, University of Canterbury, New Zealand.”

'Packed with wisdom, insight, humor, and compelling examples, and admirable in its breadth and depth of coverage, A Course in Behavioral Economics is a superb choice for instructors teaching such a course or for those who want to master the topic on their own.' George Loewenstein, Carnegie Mellon University, USA "Erik Angner does an excellent job of introducing behavioral economics, and, in doing so, provides a fresh view on neoclassical economics. With clear and engaging examples, this book is a great introduction to a complex topic." David Redish, University of Minnesota, USA "This book provides an enlightening treatment of all the big ideas in behavioural economics, presented in a very accessible way. The structure of the book is great: key concepts in behavioural economics are motivated by considering the classical approach and developing a narrative of anomalous behaviour that identifies where classical models lack descriptive power, and what behavioural models must capture to be more useful in understanding the real world. Explanations of key behavioural insights are clear and deep without becoming tedious; examples are illuminating and fun; and exercises both test students' understanding and provoke them to think further about the topic. In summary, this is an excellent resource for an introductory course in behavioural economics.' Alex Dickson, Strathclyde Business School, UK 'Erik Angner's A Course in Behavioral Economics quickly and efficiently introduces all aspects of this exciting discipline. It is a must-use for every student new to the field, and for everyone else who wants to be on a par with the most recent developments in behavioral economics.' Floris Heukelom, Radboud University, The Netherlands "Angner's book is succinct, yet comprehensive - and affordable to boot. My students find it very helpful and fun to read. I agree with them." Kristin J. Kleinjans, California State University - Fullerton, USA 'A new chapter on policymakers' use of behavioral economics ('the nudge agenda') provides a clear discussion of the under-appreciated instruments that regulators have in their toolkit today. Students will also benefit from Angner's much-needed correction of popular misconceptions about soft paternalism. Without assuming that nudges are always effective, the book explains that nudges can sometimes improve the confusing maze of existing policies.' Jan Zilinsky, Peterson Institute for International Economics, USA Praise for the first edition: "Written with great gusto and striking an elegant balance between forest and trees, Angner's A Course in Behavioral Economics is one of those rare textbooks that students pick up for fun. What more can you want?" Peter D. van der Meer, School of Economics, Utrecht University, The Netherlands. "A Course in Behavioral Economics' guides the reader to develop their own understanding of behavioral economics through contrasting it against the foundations of neoclassical theory. The textbook will appeal to all: the instructor will appreciate the cohesion and brevity of explanations, the critical reader will be rewarded by the thought-provoking exercises embedded into the text, the interested researcher will be delighted to find the 'Further reading' section - a significant upgrade from the traditional reference list." Natalia V. Czap, Department of Social Sciences, University of Michigan-Dearborn, USA. "The author did an excellent job by writing a highly-needed comprehensive textbook on behavioral economics that can very well be used for teaching undergraduates. The book covers individual decision-making as well as strategic decision-making, is well-structured, and contains many exercises." Kirsten I.M. Rohde, Erasmus School of Economics, Erasmus University Rotterdam, The Netherlands. "Angner has done an outstanding job of introducing the field of behavioral economics with this very well-written and extremely fun-to-read book. With its compare-and-contrast approach, this book will appeal not only to students interested in exploring behavioral economics, but also to the devout followers of mainstream economics." Elif Incekara-Hafalir, Tepper School of Business, Carnegie Mellon University, USA. "One of the very first textbooks on behavioral economics! An excellent introduction that is accessible to economics and non-economics undergraduates alike. Covers all major topics in this increasingly influential field." Dan Benjamin, Economics Department, Cornell University, USA. "This is a superb introduction to behavioral economics. Angner skillfully balances rigor, accessibility and humor to produce a book that is as enjoyable to teach from as it is to read." Jonathan Lafky, Economics Department, Lafayette College, USA. "Erik Angner has provided the ideal textbook for an introductory course in behavioral economics. It is comprehensive, rigourous, and accessible. It is rich with examples and exercises and it conveys the essence of behavioral economics by contrasting it with standard economic theory. This book makes behavioral economics more easy to teach and more fun to learn." Jan Potters, Department of Economics, Tilburg University, The Netherlands. "Erik Angner's textbook is both exact and entertaining. Not compromising on properly introducing mainstream decision theory, the author demonstrates how certain behavioral regularities pose a serious challenge to it. Importantly, the reader is left with a good basis for solving their own behavioral puzzles rather than merely with a collection offered by the author. The text is suitable both as a starting point for a behaviorally-minded microeconomics course, as well as an introduction into the field of behavioral economics." Jana Vyrastekova, Economics Department, Nijmegen School of Management, University of Nijmegen, The Netherlands. "This is an excellent introductory textbook that fills an important niche. It discusses the history and methodology of behavioral economics and covers the most important research topics in an engaging way. To illustrate challenging concepts and ideas, the text includes intuitive examples ranging from the importance of your wingman's attractiveness through reasons for becoming a drug addict or curiosity about your colleague's salary. In the preface, Erik Angner writes: '[This is] the book I wish I had had as a student and the book that I want to use as a teacher.' I could not agree more!" Maros Servatka, New Zealand Experimental Economics Laboratory, Department of Economics and Finance, University of Canterbury, New Zealand.

Erik Angner is Associate Professor of Practical Philosophy in the Department of Philosophy, Stockholm University, Sweden. Previously he was Associate Professor of Philosophy, Economics, and Public Policy at George Mason University, US, where he directed the undergraduate Philosophy, Politics, and Economics (PPE) Program. As a result of serious mission creep, he holds two PhDs - one in Economics and one in History and Philosophy of Science - both from the University of Pittsburgh. He is the author of the book Hayek and Natural Law (2007) as well as multiple journal articles and book chapters on behavioral and experimental economics, the economics of happiness, and the history, philosophy, and methodology of contemporary economics.

A Course in Behavioral Economics is a concise and reader-friendly introduction to one of the hottest developments in social and behavioral science today. Covering all core areas of the subject, Erik Angner clearly lays out the theory and explains the intuitions behind it. A rich selection of applications from economics, management, marketing, political science, and public policy illustrate how useful behavioral economics can be. No advanced mathematics is required. This redesigned and updated second edition: includes a brand new chapter on behavioral welfare economics and the nudge agenda; contains new sections on overconfidence, projection bias, and more; and * offers an expanded range of real-life examples and exercises, reflecting the continued uptake of behavioral economics across the disciplines. It is an ideal textbook for students coming to behavioral economics from various fields, for general readers looking for a thorough and readable introduction to the subject, and for anyone who has been captivated by popular-science books on behavioral economics and wants to know more. Available to lecturers: access to a wealth of resources at , including sample syllabi, an instructor's guide, sample handouts and examinations, and PowerPoint slides.

A concise text that introduces students to behavioural economics by comparing and contrasting its theories and models with those of mainstream economics. Full of examples, exercises and problems to engage students and encourage learning and understanding.

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