Financ Mark Portf Manag (2018) 32:235–237 https://doi.org/10.1007/s11408-018-0310-y BOOK REVIEW Michelle Baddeley: Behavioral economics: a very short introduction Oxford University Press, 2017, 168 pages Jonas Romer Published online: 7 May 2018 © Swiss Society for Financial Market Research 2018 “We do not play chess like a grandmaster, invest like Warren Buffett, or cook like an Iron Chef. Not even ‘as if.’ It is more likely that we cook like Warren Buffett (who loves to eat at Dairy Queen).” This quote from economist and Nobel laureate Richard Thaler illustrates the fundamental problem of traditional economics: It assumes that everyone acts “as if” he or she were an expert. In reality, however, this is rarely the case. Humans often rely on instincts, utilize stereotypes, and misjudge probabilities. Behavioral economics aims to adjust for these inaccuracies. In Behavioural Economics: A Very Short Introduction, Michelle Baddeley intro- duces the reader to behavioral economics and outlines how it revolutionizes economic models and methods. Thereby, she not only succeeds in providing the reader with an excellent overview of the topic but also in sparking intrigue within the reader to dig further into the subjects throughout the book. Baddeley structures her short introduction in nine chapters. In
Financial Markets and Portfolio Management – Springer Journals
Published: May 7, 2018
It’s your single place to instantly
discover and read the research
that matters to you.
Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.
All for just $49/month
Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly
Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.
Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.
Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.
All the latest content is available, no embargo periods.
“Hi guys, I cannot tell you how much I love this resource. Incredible. I really believe you've hit the nail on the head with this site in regards to solving the research-purchase issue.”Daniel C.
“Whoa! It’s like Spotify but for academic articles.”@Phil_Robichaud
“I must say, @deepdyve is a fabulous solution to the independent researcher's problem of #access to #information.”@deepthiw
“My last article couldn't be possible without the platform @deepdyve that makes journal papers cheaper.”@JoseServera