Review
A Nightmare on Economics Street
Contemporary psychology, Vol.37(11), pp.1199-1200
11/01/1992
DOI: 10.1037/031621
Abstract
Reviews the book, The Winner's Curse: Paradoxes and Anomalies of Economic Life by Richard H. Thaler (see record 1991-98876-000). In this book, some of the chapters (covering experimental games, endowment effects, preference reversals, intertemporal choice, and mental accounts) are explicitly psychological. These document behaviors from the laboratory and the field that contradict economic theory. Psychologists who follow research in decision making will be familiar with most of the issues, though some of the cited experiments might be unfamiliar. Several other chapters focus on markets. Their common theme is the failure of the assumption that markets are efficient--that current prices reflect all available information. All in all, this is a good book for browsing. (PsycINFO Database Record (c) 2016 APA, all rights reserved)
Details
- Title: Subtitle
- A Nightmare on Economics Street
- Creators
- Lola L Lopes
- Resource Type
- Review
- Publication Details
- Contemporary psychology, Vol.37(11), pp.1199-1200
- DOI
- 10.1037/031621
- ISSN
- 0010-7549
- Number of pages
- 2
- Language
- English
- Date published
- 11/01/1992
- Academic Unit
- Management and Entrepreneurship ; Psychological and Brain Sciences
- Record Identifier
- 9984963085502771
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