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Bounded Rationality and Industrial Organization by Ran Spiegler (Paperback, 2014)

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Publisher: 0 ISBN 13: 9780199334261. Author: Ran Spiegler ISBN 10: 0199334269. Title: Bounded Rationality and Industrial Organization Item Condition: New. Used-Very Good: The book will be clean without any major stains or markings, the spine will be in excellent shape with only minor creasing, no pages will be missing and the cover is likely to be very clean.

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Conventional economic theory assumes that consumers are fully rational, that they have well-defined preferences and easily understand the market environment. Yet, in fact, consumers may have inconsistent, context-dependent preferences or simply not enough brain-power to evaluate and compare complicated products. Thus the standard model of consumer behavior-which depends on an ideal market in which consumers are boundlessly rational-is called into question. While behavioral economists have for some time confirmed and characterized these inconsistencies, the logical next step is to examine the implications they have in markets.Grounded in key observations in consumer psychology, Bounded Rationality and Industrial Organization develops non-standard models of boundedly rational consumer behavior and embeds them into familiar models of markets. It then rigorously analyses each model in the tradition of microeconomic theory, leading to a richer, more realistic picture of consumer behavior. Ran Spiegler analyses phenomena such as exploitative price plans in the credit market, complexity of financial products and other obfuscation practices, consumer antagonism to unexpected price increases, and the role of default options in consumer decision making. Spiegler unifies the relevant literature into three main strands: limited ability to anticipate and control future choices, limited ability to understand complex market environments, and sensitivity to reference points. Although the challenge of enriching the psychology of decision makers in economic models has been at the frontier of theoretical research in the last decade, there has been no graduate-level, theory-oriented textbook to cover developments in the last 10-15 years. Thus, Bounded Rationality and Industrial Organization offers a welcome and crucial new understanding of market behavior-it challenges conventional wisdom in ways that are interesting and economically significant, and which in the end effect the well-being of all market participants.

Product Identifiers

Publisher
Oxford University Press
ISBN-13
9780199334261
eBay Product ID (ePID)
201259092

Product Key Features

Author
Ran Spiegler
Publication Name
Bounded Rationality and Industrial Organization
Format
Paperback
Language
English
Subject
Economics, Psychology
Publication Year
2014
Type
Textbook
Number of Pages
240 Pages

Dimensions

Item Height
236mm
Item Width
161mm
Item Weight
344g

Additional Product Features

Title_Author
Ran Spiegler
Country/Region of Manufacture
United States

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Bounded Rationality and Industrial Organization by Ran Spiegler (Paperback, 2014)

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artículo 1 Bounded Rationality and Industrial Organization. Spiegler 9780199334261 New<|Bounded Rationality and Industrial Organization. Spiegler 9780199334261 New<|

artículo 2 Bounded Rationality and Industrial Organization by Ran Spiegler (English) PaperbBounded Rationality and Industrial Organization by Ran Spiegler (English) Paperb

artículo 3 Bounded Rationality and Industrial Organization - Paperback NEW Spiegler, Ran 02Bounded Rationality and Industrial Organization - Paperback NEW Spiegler, Ran 02

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Cómics de año de publicación 2014

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artículo 1 Bounded Rationality and Industrial Organization. Spiegler 9780199334261 New<|

artículo 2 Bounded Rationality and Industrial Organization by Ran Spiegler (English) Paperb

artículo 3 Bounded Rationality and Industrial Organization - Paperback NEW Spiegler, Ran 02