Overview

Have you ever wondered why: - Sky's the Limit! feels like an irrational fairytale! - Grass is always greener on the other side! - Love knows no limits! - Hate has no boundaries! - What costs nothing is worth nothing! - Why the mainstream insists in de-radicalising a minority by silencing the majority? - Why extremes share more with each other than they differ from the center? - Why affluence breeds indifference & ingratitude? - Why Charity organisations are nearly perfect choice engineers? - Why religious institutions are so effective in containing the sinners? - Why governments can make the new, higher taxes even more acceptable than existing, lower ones? - Why banks can charge you whatever they want and you will even thank them? - Why not every price has a suitable discount? - Why the darker the political views become, the wider their crowd gets? - Why it makes sense for casinos to offer extra credit to the biggest losers? - Are earned democratic rights more appreciated? If you seek answers, you do not need to go further! In Volume 00 of the Choice Engineers & Reformed Machiavellians series, we developed the positive model for behavioral economics. This Volume 01 focuses on applying that model by bringing together the seemingly contradictory natures of behavioral and neoclassical economics. In fact, we demonstrate that neoclassical economics is a limiting case of behavioral economics. What is considered rational in our model is what proponents of neoclassical economics would call irrational-and what they call rational exists only as a limit case within our model. This idea also explains the title of this volume's Book Two: The Rationality of the Irrational. In Book Two: The Rationality of the Irrational, we have selected several fundamental biases and concepts that, in our view, have proven - historically and practically - essential to understanding how behavioral economics differs from neoclassical economics. These include: Loss & Gain, Loss Aversion, Endowment Effect, Discounts & Competitive Pricing, Sunk Cost Fallacy, Disposition Bias, Gambler's Fallacy, Illusory Superiority Bias, Planning Fallacy, and Time Perception. As a bonus, we have compiled more than 200 practical insights-our Golden Nuggets-ready for application in daily life. Enjoy!

Full Product Details

9788797639504

Table of Contents

Reviews

Author Information

Tab Content 6

Countries Available