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In recent times, behavioral economics has become a household term. Irrationally Rational, written by V. Raghunathan, explores and explains behavioral economics in an accessible manner to the general readership. It captures the key works of the Nobel prize-winners who have contributed significantly to the evolution of behavioral economics, and will bring readers up to speed on how behavioral economics has come to eclipse, if not supplant neoclassical economics over the decades. In telling the story of the evolution of 'human irrationality', the book will also help readers understand where human psychology stands on the rationality-irrationality continuum.
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Informazioni sull'autore
Dr. V. Raghunathan is an academic, author, columnist, hobbyist and a CEO. He is currently, Director, Schulich School of Business, India. Since 2013, for three consecutive years, Dr. Raghunathan has been featured in the list of top 50 thinkers in management across India and the Indian diaspora.
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Irrationally Rational: Ten Nobel Laureates Script the Story of Behavioural Economics [Hardcover] Raghunathan, Viswanathan
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Condizione: New. Brand New! Not Overstocks or Low Quality Book Club Editions! Direct From the Publisher! We're not a giant, faceless warehouse organization! We're a small town bookstore that loves books and loves it's customers! Buy from Lakeside Books! Codice articolo OTF-S-9780670095995
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Irrationally Rational : Ten Nobel Laureates Script the Story of Behavioural Economics
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Irrationally Rational : Ten Nobel Laureates Script the Story of Behavioural Economics
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Irrationally Rational
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Penguin Random House India, IN, 2022
ISBN 10: 0670095990
ISBN 13: 9780670095995
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Irrationally Rational: Ten Nobel Laureates Script the Story of Behavioural Economics
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Irrationally Rational: Ten Nobel Laureates Script the Story of Behavioural Economics
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Irrationally Rational: Ten Nobel Laureates Script the Story of Behavioural Economics
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Irrationally Rational (Hardcover)
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Hardcover. Condizione: new. Hardcover. You and your friend each have flights to catch at 8 p.m. and your destination cities are different. You decide to share a cab, but get caught in a rare traffic jam lasting several hours. You end up at the airport around midnight, and surely enough, both of you miss your flights. All quantifiable consequences of missing the flights-cost of tickets cancellation, paying for a newticket, taking a cab back to the city, overnight stay, taking a cab back to the airport next morning, etc.-are expectedly identical for both. Nowsuppose the airline assistant tells you, 'Sorry, your flight left as scheduled at 8 p.m. sharp.' But your friend is told, 'Oh, howvery unfortunate. Your flight was almost four hours late and only just departed!' Who feels the greater disappointment? You or your friend? Neoclassical economics tells us that because both individuals are assumed rational, their regret levels ought to be identical since their economic consequences are identical. Behavioural economists, however, combine psychology with economics, and focus on how real people, with their cognitive biases, actually behave. The friend who just missed the flight does indeed experience greater disappointment than the one who missed the flight by a margin of four hours. Does that make one or the other irrational? Irrationally Rational takes you through the journey of such rationality-irrationality arguments, showing why economics shorn of psychology may be incomplete. It is the first book of its kind, collating the works of ten Nobel Laureates largely responsible for the rise of behavioural economics, that makes understanding behavioural economics more fun and accessible. You feel more disappointed than your friend when missing a flight by a small margin due to cognitive biases. Neoclassical economics predicts equal regret, but behavioral economics considers real people's reactions. "Irrationally Rational" explores this intersection, showcasing Nobel Laureates' contributions to behavioral economics. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Codice articolo 9780670095995
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Irrationally Rational
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Penguin Random House India, IN, 2022
ISBN 10: 0670095990
ISBN 13: 9780670095995
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IRRATIONALLY RATIONAL : TEN NOBEL LAUREATES SCRIPT THE STORY OF BEHAVIOURAL ECONOMICS
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