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Schools of Thought in Economics Series 6
Behavioural Economics is a relatively new school of economic thought and can encompass a number of strands such as `new institutional/transaction cost economics', economic psychology and psychological economics, consumer behaviour and decision theory. The papers presented here reveal something of the development, philosophy and range of applicability of behavioural economics.
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What Reviewers Are Saying
`Behavioral Economics . . . is especially welcome because so many economists are unclear as to the precise nature and scope of this subject which is relatively new, still taking shape and highly interdisciplinary.' -- A.W. Coats, Kyklos `Peter Earl's two volumes on Behavioural Economics bring together in a helpful and coherent way contributions of Leibenstein, Cyert, George, Simons and a number of UK economists, in particular Andrews, Loasby and Richardson who have significant doubts about the ability of the neoclassical constrained maximisation model to do justice to actual business behaviour. The rich variety of work that is covered will repay careful attention.' -- Walter Eltis,The Economic Journal `To have so many seminal papers - altogether there are 48 gathered in two volumes - is an enormous convenience, and more. The papers with which I was not familiar before have, without exception, proved as illuminating as those I knew, a reflection of the editor's care and skill through the literatures of economics, psychology, management and marketing, as well as the more accessible literatures closer to the theme of behavioral economics. For these reasons alone, I recommend the volumes. . . . they are essential for serious libraries.' -- Gordon Foxall, Journal of Economic Psychology `Few economists can fail to benefit from reding these valuable collections.' -- A. Coats, Kyklos