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w18: Behavioural economics IV /2548

Topic 3

Lecture handout

w18: Prospect Theory (part 1) [pdf]

Main reading

Barberis, N (2013), Thirty Years of Prospect Theory in Economics: A Review and AssessmentJournal of Economic Perspectives, V27 No 1, Winter, pp173–196

DellaVigna, S (2009), Psychology and Economics: Evidence from the FieldJournal of Economic Literature, v47 i2 pp315-372

Goldstein, ER (2011), The Anatomy of InfluenceThe Chronicle Review, Nov 8th

Joelving, F (2009), Why the #$%! Do We Swear? For Pain ReliefScientific American, July 12th [refers to Stephens et al (2009) paper]

Kahneman, D (2002), Maps of bounded rationality: a perspective on intuitive judgment and choice, Sveriges Riksbank Prize lecture, Dec 8th

Kahneman, D and Deaton, A (2010), High income improves evaluation of life but not emotional well-being, PNAS, August 4th

* Kahneman, D and Tversky, A (1979), Prospect Theory: An Analysis of Decision under RiskEconometrica, Vol. 47, No. 2. (Mar.), pp. 263-292.

Layard, R (2003), Happiness: has social science got a clue?, Lionel Robbins Memorial Lectures 2002/3, LSE

Layard, R (2020), How to make the world happier – and why it should be our first priority, The Observer, Jan 19th [extract from his new book – Can We Be Happier? Evidence and Ethics]

Poundstone, William (2010), Priceless: the myth of fair value (and how to take advantage of it), New York: Hill & Wang

Wilkinson, Nick (2008), An Introduction to Behavioral Economics, Basingstoke: Palgrave-MacMillan

* Wilkinson, N and Klaes, M (2012), An Introduction to Behavioral Economics (2nd ed), Basingstoke: Palgrave-MacMillan


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