Behavioral Economics and Finance Leadership: Nudging and Winking to Make Better Choices 9783030543297
This book explores human decision-making heuristics and studies how nudging and winking can help citizens to make ration
369 119 3MB
English Pages 184 [188] Year 2020
Table of contents :
Preface
Contents
Behavioral Foundations
1 Behavioral Economics
1.1 Introduction
1.2 Theoretical Background
1.3 Individual Decision-Making Under Uncertainty
1.3.1 Homo Nudgiens
1.3.2 Bounded Rationality and Ethicality
1.3.3 Mental Temporal Accounting
1.3.4 Evolutionary-Grown Human Decision-Making
References
Digital Behavioral Economics
2 Communication in the Twenty-First Century
2.1 Nudging and Winking in the Digital Era
2.1.1 On the Collective Soul of Booms and Busts
2.1.2 Nudging and Winking from the Supply and Demand Sides
2.1.3 Nudgital: Critique of Behavioral Political Economy
2.1.4 The Nudging Divide in the Twenty-First Century
References
Behavioral Finance
3 Value at Looking Back
3.1 Reflexivity in Socio-economic Backtesting
3.2 Results
3.3 Discussion
References
4 Financial Behavioralism: A Behavioral Finance Approach to Minimize Losses and Maximize Profits from Heuristics and Biases
4.1 Diversifying Nudges
4.2 Crises-Robust Market Options
4.3 Long-Term Sustainable Market Options
4.4 Demographics
4.5 Tangibility
4.6 Safe Havens
References
5 Market Communication
5.1 Too Much Information
5.2 Too Little Information
5.3 Social Phenomenon and Leaders in the Field
5.4 Time of Information
5.5 Firm-Biased Information
5.6 Medium Bias
5.7 Availability Biases
5.8 Quality of Information
5.9 Good News Breeding Overconfidence
5.10 Bad News
References
The Future of Behavioral Economics
6 Artificial Intelligence and Nudging
6.1 Artificial Intelligence Market Disruption
6.1.1 Slowbalisation
6.2 Macroeconomic Modeling
6.2.1 Discussion
6.3 Big Data Ethics
6.3.1 Utility
6.3.2 Dignity
6.3.3 Information Sharing and Privacy
6.3.4 The Humane Preference for Communication
6.3.5 Privacy as a Human Virtue
6.3.6 Privacy in the Digital Big Data Era
6.3.7 A Utility Theory of Privacy and Information Sharing
References
7 Discussion
7.1 Behavioral Economics
7.2 Discounting
7.3 On the Collective Soul of Economics
7.4 Public-Sector Implications
7.5 Legal and Global Governance Implications
References
8 Conclusion
References
Preface
Contents
Behavioral Foundations
1 Behavioral Economics
1.1 Introduction
1.2 Theoretical Background
1.3 Individual Decision-Making Under Uncertainty
1.3.1 Homo Nudgiens
1.3.2 Bounded Rationality and Ethicality
1.3.3 Mental Temporal Accounting
1.3.4 Evolutionary-Grown Human Decision-Making
References
Digital Behavioral Economics
2 Communication in the Twenty-First Century
2.1 Nudging and Winking in the Digital Era
2.1.1 On the Collective Soul of Booms and Busts
2.1.2 Nudging and Winking from the Supply and Demand Sides
2.1.3 Nudgital: Critique of Behavioral Political Economy
2.1.4 The Nudging Divide in the Twenty-First Century
References
Behavioral Finance
3 Value at Looking Back
3.1 Reflexivity in Socio-economic Backtesting
3.2 Results
3.3 Discussion
References
4 Financial Behavioralism: A Behavioral Finance Approach to Minimize Losses and Maximize Profits from Heuristics and Biases
4.1 Diversifying Nudges
4.2 Crises-Robust Market Options
4.3 Long-Term Sustainable Market Options
4.4 Demographics
4.5 Tangibility
4.6 Safe Havens
References
5 Market Communication
5.1 Too Much Information
5.2 Too Little Information
5.3 Social Phenomenon and Leaders in the Field
5.4 Time of Information
5.5 Firm-Biased Information
5.6 Medium Bias
5.7 Availability Biases
5.8 Quality of Information
5.9 Good News Breeding Overconfidence
5.10 Bad News
References
The Future of Behavioral Economics
6 Artificial Intelligence and Nudging
6.1 Artificial Intelligence Market Disruption
6.1.1 Slowbalisation
6.2 Macroeconomic Modeling
6.2.1 Discussion
6.3 Big Data Ethics
6.3.1 Utility
6.3.2 Dignity
6.3.3 Information Sharing and Privacy
6.3.4 The Humane Preference for Communication
6.3.5 Privacy as a Human Virtue
6.3.6 Privacy in the Digital Big Data Era
6.3.7 A Utility Theory of Privacy and Information Sharing
References
7 Discussion
7.1 Behavioral Economics
7.2 Discounting
7.3 On the Collective Soul of Economics
7.4 Public-Sector Implications
7.5 Legal and Global Governance Implications
References
8 Conclusion
References
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