
Introducing the New Subject Category of Behavioral Economics:
It is common knowledge that psychological factors affect markets, but traditional economic theory does not account for them. Instead, classical economics assumes that markets are logical and rational. Behavioral economics has given birth to several theories that help us understand the psychological factors involved in choosing which of several investments, consumer items, or other market items to select. Choice theory posits that decision making is sensitive to formulation, context, and procedure preferences between gambles. Prospect theory examines choice under risk and has described such effects as loss aversion; framing effects, the formulation decision makers are exposed to and the interpretation they construct; and mental accounting, which oversimplifies.
Behavioral Economics
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Outliers: The Story of Success
Malcolm Gladwell, Little Brown, 2008
Why do some people succeed, living productive lives, while so many more never reach their potential? Outliers makes the democratic assertion that those who succeed "are invariably the beneficiaries of hidden advantages and extraordinary opportunities and cultural legacies that allow them to learn and work hard and make sense of the world in ways others cannot." This book postulates that successful people from Mozart to Bill Gates rise on a tide of advantages, "some deserved, some not, some earned, some just plain lucky."
ANIMAL SPIRITS
How Human Psychology Drives the Economy and Why It Matters for Global Capitalism
George A. Akerlof and Robert J. Shiller
7 CE credits
BEYOND GREED AND FEAR
Understanding Behavioral Finance and the Psychology of Investing
Hersh Shefrin
10 CE credits
CHOICES, VALUES, AND FRAMES
Daniel Kahneman and Amos Tversky, Eds.
28 CE credits
CHOICES, VALUES, AND FRAMES
Daniel Kahneman and Amos Tversky, Eds.
14 CE credits
CHOICES, VALUES, AND FRAMES
Daniel Kahneman and Amos Tversky, Eds.
14 CE credits
HOW WE DECIDE
Jonah Lehrer
8 CE credits
NUDGE
Improving Decisions About Health, Wealth, and Happiness
Richard H. Thaler & Cass R. Sunstein
10 CE credits
OUTLIERS
The Story of Success
Malcolm Gladwell
9 CE credits
PREDICTABLY IRRATIONAL
Dan Ariely
10 CE credits
SPENT
Sex, Evolution, and Consumer Behavior
Geoffrey Miller
12 CE credits
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