Publisher's Synopsis
Powerful Cognitive Biases Impair Our Economic Decisions - Do you know that human beings have mental blind spots which prevent them from being rational at all times?- Do you know that being more intelligent is not necessarily being more rational?- Do you know that the recent financial crisis which straddled across the globe brought down some of the oldest and most venerated financial institutions in the world?- Do you think your economic decisions are always optimal? If your answer to any of the above questions is 'No', then you need this book!Discover How Behavioral Economics Can Improve Economic Analysis Behavioural economics is about bringing reality into economic analysis by factoring in human behaviour. It borrows from psychology, sociology, politics, and institutional economics (which focuses on the rules of the economic game) to describe and explain human behaviour and economic phenomena. Behavioural economics builds upon conventional economics, offering more tools for understanding why people behave the way they do when it comes to income, wealth, ethics, and fairness. It uses prospect theory to describe the choices that the typical person makes. A Beginner's Guide to Behavioral EconomicsThis book presents the elements of Behavioral Economics and share some powerful academic research findings on cognitive biases and how they impact our judgment. In this book you will: - Understand what Behavioural Economics is about- Understand how it can improve traditional economics- Learn techniques to overcome cognitive biases Here are the answers to some questions you might have about this book: Q: What is this book about? A: This book is a beginner's guide to Behavioral Economics. The recent financial crisis was a product of economics not accounting for cognitive biases. This book explains how behavioural economics could improve traditional economics.Q: What kind of techniques will I get to learn in this book? A: In this book you will learn how to account for cognitive biases in economic analysis. Q: Do I need to have prior qualifications before I read this book? A: The only thing that is required is your keenness to learn. Some experience in the financial sector or knowledge of basic economics can make the grasping faster, but it is not a prerequisite. Every day that you delay is another day that you stagnate in your growth as a manager-leader.Take action now and buy this book by clicking the 'Buy now with 1-click' button