Behavioral Economics Comes of Age: A Review Essay on Advances in Behavioral Economics

Wolfgang Pesendorfer

132 citations0/0 files storedJournal of Economic Literature

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Decision-Making and Behavioral Economics Economic Theory and Institutions Experimental Behavioral Economics Studies

Abstract

Advances in Behavioral Economics contains influential second-generation contributions to behavioral economics. Building on the seminal work by Kahnemann, Strotz, Thaler, Tversky, and others, these contributions have established behavioral economics as an important field of study in economics. In this essay, I discuss aspects of the research strategy and methodology of behavioral economics, as exemplified by the contributions to Advances.

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References

1979Prospect Theory: An Analysis of Decision under Risk 1988Prospect theory: An analysis of decision under risk 1999A Theory of Fairness, Competition, and Cooperation 2002Time Discounting and Time Preference: A Critical Review 1997Golden Eggs and Hyperbolic Discounting 1980Toward a positive theory of consumer choice 1982An experimental analysis of ultimatum bargaining 2011Incorporating Fairness into Game Theory and Economics

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