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w19: Behavioural economics V /2548

Topic 3

Learning materials ‘handout’

w19: Prospect theory (part 2) [pdf]

Main reading

Ariely, D (2010), The upside of irrationality, London: Harper Collins

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

Camerer, C and Loewenstein, G (2004), Behavioral Economics: Past, Present and Future [pdf], in Camerer, Loewenstein and Rabin (eds) (2004), Advances in Behavioral Economics, New York: Princeton University Press

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

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

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

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