لا شك أن الآثار المترتِّبة على فهم المنطق الذي يشكِّل سلوكنا المالي في غاية الأهمية؛ فقد يساعد ذلك صُنَّاع السياسات في فهم الأشخاص الذين يستهدفونهم بسياساتهم، فيصمِّمون سياساتٍ أكثر فاعلية، ويحسِّنون من أساليب تسويقها. يتناول هذا الكتاب مجال الاقتصاد السلوكي، الذي يحلِّل الدوافع التي تحرِّك قراراتنا الاقتصادية، ويبين أهميتها في حياتنا وتأثيرها على المشكلات الاقتصادية والمالية التي نواجهها يوميًّا. كما ينظر في الأسباب التي تدفعنا لاتخاذ قراراتٍ غير عقلانية، وفي طريقة اتخاذنا للقرارات دون تأنٍّ، وفي ملابسات ارتكابنا للأخطاء في المواقف المحفوفة بالمخاطر، وفي ميلنا للمماطلة وتفضيلنا للعاجل على الآجل، وفي خضوعنا للمؤثِّرات الاجتماعية والحالات المزاجية والانفعالات.
الأغلفة القديمة للسلسلة من مؤسسة هنداوي كانت أحلى. الكتاب أعتقد كان سطحي حتى لكونه "مقدمة قصيرة" و"جدا"😃 لكن من نقاط قوته أسلوبه السلس الانسيابي وكثرة الأمثلة. بشكل عام كتاب سهل القراءة والفهم يعوزه بعض التعمق.
This book provides an effective little crash-course on behavioural economics, and achieves its goal of informing its reader of what kind of research one could expect to encounter in the field. However, the book is still quite flawed. While it spoke a lot about interesting findings in psychology, readers coming from an economics background will probably be a little frustrated by how loosely the book ties these findings to important economic concepts. At times it seems a little vague and casual, reading more like a social psychology text than any sort of economic text.
I felt the book spent far too little time talking about the "boomerang effect" of policies informed by behavioural economics, and provides poor analyses of key economic topics, such as the minimum wage. In the case of the minimum wage, the author provides loose support for such legislation, providing a rationale based in psychological insights, without remembering to inform her analysis with economic insights (e.g., just how much extra productivity higher wages would inspire, RELATIVE to the higher productivity that additional workers at lower wages could provide; or by looking at actual studies of how such laws have performed in the real world). It would have been good to see a couple more pages devoted to policy failures stemming from behavioural economics research. Her brief analyses of targeted taxes (e.g., for cigarettes) and subsidies were very poor as well - hardly attempting to note some of the economic/social drawbacks that such policies can bring.
The author also takes what seem to be a few biased jousts at Brexit that seemed rather inept and awkward, but perhaps I was just being too critical... Overall it isn't a bad read by any means, but it could have been far better. Though designed to be "very short", I think an extra ~10 pages were needed, especially addressing the concerns noted above.
الاقتصاد السلوكي: فهم القرارات المالية في ضوء الطبيعة البشرية يتمحور الاقتصاد السلوكي حول فهم القرارات الفعلية التي يتخذها الأفراد، لا سيما فيما يتعلق بمصالحهم المالية والاقتصادية. وعلى الرغم من أن هذه القرارات قد تبدو عقلانية ظاهريًا، إلا أن فهم طبيعتها الحقيقية يتطلب الاستعانة برؤى من علوم أخرى مساندة كعلم النفس وعلم الأعصاب وعلم الاجتماع، والتي تقدم تفسيرات علمية للسلوك البشري. تعتمد القرارات المتعلقة بالأنشطة البشرية على حوافز داخلية وخارجية. قد تبدو هذه الحوافز بسيطة وواضحة، لكنها في الواقع معقدة وقد تؤدي إلى سلوكيات تبدو غير عقلانية. ففي العديد من التجارب، لوحظ أن الحافز الداخلي قد يضعف أو يتراجع أمام قوة الحافز الخارجي (كالمال مثلاً). فضلًا عن ذلك، لا يمكن قياس القرارات الفردية بالمكافآت والعقوبات وحدها، بل قد يكون للعقوبات أحيانًا آثار سلبية غير متوقعة على قراراتنا. وفي هذا السياق، تبرز قيمة السمعة كعامل قد يُضعِف من تأثير المكافآت الخارجية، وفي الوقت نفسه، تُعد السمعة محركًا قويًا للتبرع والسلوكيات غير الأنانية. يميل البشر بطبيعتهم إلى النفور من عدم الإنصاف والميل الغريزي نحو العدالة بأشكالها كافة، وهو ما تكشفه بوضوح تجربة "لعبة الإنذار الأخير". لذلك، يبني الاقتصاد السلوكي جزءًا من منهجيته على هذه المسلّمات، مثل نفورنا الفطري من الظلم. كما أشرنا، لا تُبنى القرارات الفردية بمعزل عن السياق الاجتماعي، سواء كان أعرافًا أو تقاليد. ويدرس الاقتصاد السلوكي حاليًا هذه الديناميكيات ضمن ما يُعرف بـ "ألعاب المنفعة العامة"، التي تُظهر كيف يمكن للأفراد أن يتعاونوا حتى في غياب توجيه أخلاقي أو ديني أو قانوني مباشر. هذا الميل للاندماج والانتماء، وكذلك التقليد، ينعكس بوضوح على قراراتنا الاقتصادية. فلماذا نقلد الآخرين في أفكارنا ومشاريعنا التجارية؟ يعود ذلك جزئيًا إلى ما يسمى بـ "الخلايا العصبية المرآتية". فنحن نميل إلى التصرف كـ"قطيع" في سياقات اقتصادية معينة، لأننا نتعلم من المعلومات التي يمتلكها الآخرون، ونبني قراراتنا الاستهلاكية على تقييماتهم، أحيانًا خوفًا من خوض التجربة بأنفسنا، فننتظر "مضحيًا" يبدأ، كما يفعل قطيع الأغنام عند عبور ممر مائي، حيث يقفز الأول ليتبعه الجميع. بالإضافة إلى ما سبق، هناك عوامل عديدة تؤثر في قراراتنا الاقتصادية والاجتماعية، من بينها مجموعة من الانحيازات المعرفية التي قد تجعل قراراتنا أقل مثالية أو عملية، مثل الانحياز التأكيدي، وانحياز الوضع الراهن، وتأثير الخيارات الافتراضية. في جانب آخر، يدرس الاقتصاد السلوكي النظريات الاقتصادية التي تساهم في فهم كيفية اتخاذ البشر للقرارات المالية. من أبرز هذه النظريات "نظرية المنفعة المتوقعة"، التي تستند إلى منطلقات فلسفية ونفسية تتمحور حول العقلانية والسعي للاختيار الأمثل لتعظيم المنفعة، حيث يعتمد تقييمها على القيمة المطلقة للنواتج. وفي مقابلها، تبرز "نظرية التوقع" (Prospect Theory)، ذات الأساس التجريبي النفسي، والتي تركز على اللحظة الراهنة في تقييم الخيارات، وتُميّز بين كيفية إدراكنا للمكاسب والخسائر بشكل مختلف، حيث تكون الخسائر عادةً ذات تأثير نفسي أكبر من المكاسب المماثلة في القيمة.
a bit dry but good introduction to behavioural economics!
chapter 2 intrinsic and extrinsic motivation study of nursery schools by Gneezh and Rustichini: imposing a fine on late parents meant more parents started arriving late, not fewer. parents were interpreting the fine as a price, not a deterrent. blood donation: extrinsic motivation from monetary payments undermined donor’s intrinsic motivation to be good citizens
chapter 3 trust and reciprocity: people dislike unequal outcomes (inequity aversion) the Ultimatum Game and it’s adaptations (splitting $100) conformity and social norms herding leads to herding externality (think crowded vs not crowded restaurant) safety in numbers: Feb-Phen diet pills class action suit
chapter 4 heuristics: availability, procrastination, inertia representations (the Linda problem: we discard the rules of probability in favour of a coherent narrative) cognitive dissonance anchoring (1x2x3... vs 8x7x6...)
chapter 5 prospect theory: choices are determined by reference points (it’s all relative). endowment effect (manifestation of loss aversion - losses have more impact than gains). hence: prospect theory value function
regret theory: allows for different states of the world. based on the fact that happiness is not just dependent on perceptions, preferences and choice, but on how we judge our past choices retrospectively. (e.g. whether to bring an umbrella to work)
chapter 6 time inconsistency - we are disproportionately impatient in the short term. (marshmallow experiments) Robert Strotz: intertemporal tussle between our patient and impatient selves. pre-commitment strategy: like ulysses and the sirens. limit your future choices to achieve long term goals mental accounting: money is not fungible.
chapter 7 personality: Cesarini twins experiment. only partly attributed to genetic factors personality can be malleable. environment has an important influence. emotions can complement rationality by acting as “tie breakers”
chapter 8 behavioural macro relatively undeveloped: reflects the difficulty of bringing together the choices of lots of different people with diff personalities, moods, emotions etc. optimism bias keynes beauty contest: preoccupation with opinions when speculating
chapter 9 public policy: nudges are a form of libertarian paternalism
A helpful short introduction to this insightful and innovative field of behavioural economics. Typical economic theory assumes decision makers are entirely rational. However, we are not. Behavioural economics by Michelle Baddeley does a good job of conveying the psychological (and other) factors which influence our decision making and its departure from rational norms.
Some taster questions are posed: Why do we not switch energy providers/mobile phone providers even when we know we are not getting the best deal? Why do we think terrorism is more prevalent than diabetes when seeing it on the news programme? Why do cab drivers finish early on busy-days when they could, in theory, make far more money on these days?
Behavioural economics is a more humane and realistic representation of human behaviour and its motivations. It covers some of the blindspots of traditional economic theory. A good overview from Michelle, in all. Good to read now as it's recently been published. Read it while it's hot off the press.
Kahneman's 'Thinking Fast and Slow' and Thaler & Sunstein's 'Nudge' are necessary accompaniments to this fine introduction.
A tiny book but pithy. It has a lot of information about how our emotions affect our economic behavior and choices. I knew some of the things mentioned, such as how fashion and music become conservative and dour during times of econimic downturn, but most of it was new to me. People actually prefer fewer choices and when faced with too many choices, they suffer from choice overload, for example. The author referred to another book I'm reading, Thinking Fast and Slow, by Daniel Kahneman, and I liked knowing a little about that book. There were descriptions of differing mindsets toward saving and spending and explanations of some of the speculative bubbles in history, from Tulipmania in the 1600s to the subprime mortgage crisis in 2007-2008. Though economics is not ordinarily a subject that interests me, this book presented a wide range of stories about the economy in a way I found fascinating.
Overall a well done overview of behavioral economics. The main criticism I have of the book is that it is not critical enough of the pitfalls and pretensions of the field. In the very end of the book she does mention potential pitfalls of the hype around the field applied to public policy. But throughout most of the book, she herself portrays study findings as definitive and pushes the hype she herself cautions against in the final pages of the book.
Social “science” in general has a long way to go before it really deserve the name science. She is justifiably critical of classical economics, but only because she wants to make the argument that behavioral economics is the superior successor. If only her ears would hear the words of her mouth, and recognize how clearly her own biases are effecting her presentation of the field.
Useful as a review for academics that are branching into behavioral economics and do not necessarily work with in statistics, behavioral psychology, or standard economics everyday. It provides a good starting point to refresh you in game theory, paradoxes, and the famous experiments that disproved/amended (depending on your point of view) common economic behavioral theories in real world applications. A lot of the reviews seem to be from people who did not anticipate this to be an academic work, it is. While it is a "very short introduction" it is an academic work and as such anticipates the reader will have a certain working knowledge of these concepts. If you do not, you may be better served starting elsewhere.
A good, bordering on great, introduction on Behavioural Economics. Could have done with some more information on Behavioural Microeconomics and more examples of nudges and other behavioural interventions in policy. Particularly enjoyed Chapter 7 (on emotions, moods etc) and the specific mention of introductory texts on specifics to go away and read.
Overall, a fairly comprehensive, digestible and enjoyable introduction.
When we follow our neighbors and friends, we may be leveraging valuable social information, or we might just be repeating their mistakes. In ensuring that the most profound behavioural policy lessons endure, it will be important to build a robust and scientifically rigorous body of evidence that demonstrates not only when and where the policies are working, but also when and where they do not work.
I read the book. And re-reading again. I just liked this series "Very short Introductions" by Oxford university Presss. It has large number of books (more than 1000) written as a short introductions to various topics.
I am interested in knowing more about Behavioral Economics, hence looking at this.
Planning to read more from this VSI series, mainly related to my interest area that is OB. And few other from topics that I am curious to know more.
Interesting and rich insights into behavioral economics and its application in policy making. It draws notable findings from my favorite book Thinking Fast and Slow. Notes- - reflection effect- ppl are willing to take on more risks to avoid losses but limit their gains - certainty effect- big difference between 100% and 90% vs 60% and 50%. - different personalities suit different jobs - availability bias - happy ppl are optimistic - markets are driven by cycles of panic and fear
This book is very theoretical and not providing any benefit from practical aspect. I was expecting something of value to learn but it not happen. Despite it was supposed to provide a short intro for someone not familiar with Behavioral Economics but at the end i gained nothing.
The amount of knowledge packed into this small book makes me want to read more of the Very Short Introduction series. the first five chapters were phenomenal and many of the lessons and research were applicable. The later parts on policy making in relation to behavioural economics and macro and micro economics was a little dull and the research wasn't has relevant.
Very good introduction to a fascinating and growing topic modern psychology and economics. The author does get her message across but it seems that her writing style is much more academic so she has a hard time in making everything she writes accessible to the average joe.
As an outsider, this seems like a good survey of the field of Behavioral Economics—not enough to understand the underlying key concepts, but enough to point you in the right direction.
Bonus: If you enjoyed reading Khaneman and Ariely, this book is a great refresher on their work.
As a person who is introduced this topic, I think the book is well written and has brilliant examples to explain the books ideas, just wish that some topics were explained in more depth, definitely recommend it
Lately I’ve been reading books about capitalism, economics, and American business history. I’ve learned through economics that the production of goods and services and their sale and the subsequent accumulation of capital is fairly predictable and follows knowable patterns. Behavioural economics, on the other hand, teaches that nothing is predictable because humans are prone to fleeting desires. However, if the economic system can exploit these fleeting desires - through advertising or trends or the like - then another method to accumulate vast wealth can be unlocked. Either way, someone is getting rich and it isn’t me or you.
Skip this if you've already read Kahneman or Thaler. If you haven't got a clue who those people are, and are new to Behavioural Econ, then you might actually find this book illuminating.