Overview

George Loewenstein is one of the pioneers of the rapidly growing field of behavioral economics. For over twenty years he has been working at the intersection of economics and psychology and is one of the few people of whom it can be said that their work is equally respected and well known within both disciplines. This book brings together a selection of his papers focusing on what he calls ""exotic preferences""-- the disparate motives that drive human behavior. In addition to covering the history and methodology of behavioral economics, they also touch on a wide range of fascinating topics such as the motives that drive extreme athletes, our propensity to want to get unpleasant experiences out of the way so we can focus on the more pleasant, and the psychology of curiosity. There are also papers on social preferences, discussing the importance of perceptions of fairness in interpersonal interactions, intertemporal choice-- the tradeoffs between costs and benefits occurring at different points in time-- and the impact of emotion on economic decision making. An original introduction outlines Loewenstein's general approach to research, and there are short introductions to each paper outlining briefly when, how and why they came to be written, providing a fascinating and vivid insight into the process of intellectual creativity.

Full Product Details

Author:   George Loewenstein (Herbert A. Simon Professor of Economics and Psychology at Carnegie Mellon University)
Publisher:   Oxford University Press
Imprint:   Oxford University Press
Dimensions:   Width: 15.60cm , Height: 3.80cm , Length: 23.30cm
Weight:   0.991kg
ISBN:  

9780199257089

ISBN 10:   0199257086
Pages:   688
Publication Date:   10 July 2008
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   To order  
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Table of Contents

"George Loewenstein: Introduction Part I General Perspectives, History, and Methods 1: George Loewenstein: Because it is There: The Challenge of Mountaineering...for Utility Theory 2: Niklas Karlsson, George Loewenstein, and Jane McCafferty: The Economics of Meaning 3: George Loewenstein: The Fall and Rise of Psychological Explanations in the Economics of Intertemporal Choice 4: Nava Ashraf, Colin F. Camerer, and George Loewenstein: Adam Smith, Behavioral Economist 5: George Loewenstein: Experimental Economics from the Vantage-Point of Behavioral Economics 6: George Loewenstein: The Psychology of Curiosity: A Review and Reinterpretation Part II Social Preferences 7: George Loewenstein, Leigh Thompson, and Max H. Bazerman: Social Utility and Decision Making in Interpersonal Contexts 8: Linda Babcock and George Loewenstein: Explaining the Bargaining Impasse: The Role of Self-Serving Biases Part III Basic Research on Preferences 9: Christopher K. Hsee, George Loewenstein, Sally Blount, and Max H. Bazerman: Preference Reversals Between Joint and Separate Evaluations of Options: A Review and Theoretical Analysis 10: Dan Ariely, George Loewenstein, and Drazen Prelec: ""Coherent Arbitrariness"": Stable Demand Curves Without Staple Preferences Part IV Predicting Tastes and Feelings 11: George Loewenstein and Daniel Adler: A Bias in the Prediction of Tastes 12: Leaf Van Boven, George Loewenstein, and David Dunning: Mispredicting the Endowment Effect: Understimation of Owners' Selling Prices by Buyer's Agents 13: George Loewenstein, Ted O'Donoghue, and Matthew Rabin: Projection Bias in Predicting Future Utility Part V Intertemporal Choice 14: George Loewenstein: Anticipation and the Valuation of Delayed Consumption 15: George Loewenstein and Drazen Prelec: Anomalies in Intertemporal Choice: Evidence and an Interpretation 16: George Loewenstein and Drazen Prelec: Preferences for Sequences of Outcomes 17: Drazen Prelec and George Loewenstein: The Red and the Black: Mental Accounting of Savings and Debt Part VI Emotions 18: George Loewenstein: Out of Control: Visceral Influences on Behavior 19: George Loewenstein, Elke U. Weber, Christopher K. Hsee, and Ned Welch: Risk as Feelings 20: Baba Shiv, George Loewenstein, Antoine Bechara, Hanna Damasio, and Antonio R. Damasio: Investment Behavior and the Negative Side of Emotion 21: Jennifer S. Lerner, Deborah Small, and George Loewenstein: Heart Strings and Purse Strings: Carryover Effects of Emotions on Economic Decisions 22: Samuel M. McClure, David I. Laibson, George Loewenstein, and Jonathan D. Cohen: Separate Neural Systems Value Immediate and Delayed Monetary Rewards"

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Author Information

George Loewenstein, one of the founders of the field of behavioral economics and of the new field of neuroeconomics, is the Herbert A. Simon Professor of Economics and Psychology at Carnegie Mellon University. He received his PhD in economics from Yale University in 1985 and since then has held academic positions at the University of Chicago and Carnegie Mellon University, and fellowships at Center for Advanced Study in the Behavioral Sciences, The Institute for Advanced Study in Princeton, The Russell Sage Foundation and The Institute for Advanced Study in Berlin. His research focuses on applications of psychology to economics. Loewenstein has published more than 100 journal articles in economics, psychology, law, business and medicine as well as numerous books and book chapters. He is the former president of the Society for Judgment and Decision Making.

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