568
N
Naïve discounters 296–9, 316–17, 320–1,
322, 326–7
Nalebuff, B. 353
Narrow bracketing 238, 255
Narrow framing 230, 238
Nash, J. 337, 358–9
Nash equilibrium 342–5, 352, 357–8,
415–6, 427 428, 435, 493
Natural selection 15, 52, 72–3, 138, 152,
182, 407, 417, 480
Need for cognition (NC) 471
Neo-Darwinian synthesis (NDS) 15
Neural imaging
See neuroeconomics
Neurobiology
See neuroeconomics
Neuroeconomics 27, 34–6, 41–5, 48, 53–6,
71, 113, 128, 137–40, 148, 160, 165, 169,
174, 183, 309, 314–15, 438–41, 467, 477,
494, 495–7
Altruism 26–7, 421–2
Discounting 314–5
Fairness 438–41
Mental accounting 224, 236
Neuroscience
See neuroeconomics
Nodes 338, 344–5
‘Non-betweenness’ models 157
‘Non-conventional’ theories 155
Noncooperative games 339
Nondepletion 402
Nonexclusivity 402
Normal-form representation 338
Normative models 4, 69, 151, 188–9, 207,
465, 480
Normative statements 4
Normative status
See normative model
Normative theory
See normative model
Nucleus accumbens (NAcc) 160, 169, 224,
440
Nudge 44, 49, 80, 246–9, 324, 332
O
Occam’s razor 32, 201
Ochs, J. 357, 362
Ockenfels, A. 424–5
Odean, T. 170, 233
O’Doherty 95, 438
O’Donoghue, T. 129, 265–7, 279–82, 288,
290, 303, 305, 307, 317
Oehler, A. 233
Okada, E.M. 232, 235
Opponent process theory 104–5
Orbitofrontal cortex (OFC) 95, 165
Ordinal independence 159
Ordinization 477–9
Ortmann, A. 201
Oswald, A.J. 422, 479–80
Out-of-sample prediction 381
Overconfi dence 124–5, 143, 316, 500
Overestimation 124–5
Overplacement 125
Overprecision 125
Oxytocin 27, 440–1
P
Palfrey, T.R. 367
Paradox of choice 81
Parasites 468
Pareto dominance 343, 375, 493
Pareto effi ciency 76, 416, 434–5
Parietal cortex 314
Parks, C.D. 435, 457
Parsimony 32, 417, 422
Partitioned price 223
Pavlovian withdrawal 127
Payment decoupling 235–7, 306
P-bets 198–9, 202
Peacock’s tail syndrome
See handicap principle
Peak-End rule 77, 89, 100–1, 275
Pearce, D. 418–21, 428
Pensions 330–1, 488–9
Permanent income hypothesis (PIH)
228, 257, 303, 323
569
I N D E X
Per-period discount factor 293–4,
296
Pesendorfer, W. 30–1, 43–4, 48, 55
PET
See positron emission tomography
Phelan, J. 16, 316
Phelps, E.S. 293–4
Phineas Gage 495–7
Piecewise linear pattern 363–4
Pinker, S. 75–6, 121, 127–8, 134, 135, 168,
438, 449, 478, 484
Placebo effect 77–8
Planner-doer model 50, 307–9, 314
Plott, C.R. 79, 194–6, 211–12, 471, 474,
475
Poldrack, R.A. 45, 90, 166
Pollak, R.A. 293–4
Pooling equilibrium 376, 389–90
Pope, D.G. 170, 215–17
Positive time preference 267
Positron emission tomography (PET) 18,
42, 93–5, 438, 477, 494
Post-contract opportunism
See moral hazard
Posterior probability 118
Potlatch syndrome 414
Precision, of theories 33
Preference 71, 74, 79–86, 87, 462–3
Preference reversal 79, 98, 198–9,
201–202, 291–1, 295–9, 315–16,
471
Prefrontal cortex (PFC) 27, 89, 94–5,
101, 169, 184, 224, 314, 439
Prelec, D. 43–4, 80, 94, 105–8, 229, 234,
235, 236, 276, 295, 303, 306
Prescott, E.C. 239, 244–5
Prescriptive statements 4
Present bias 293
Prevention focus 168, 183
Price, J. 502–3
Pricing tasks 270
Primate behavior 438
Principal-agent theory 444–5, 455–6,
480
Prior outcome effect 237
Prior probability 118, 376
Priority heuristic 201
Prisoner’s dilemma (PD)
See games
Probabilistic insurance 175, 186
Probabilistic mental models 199
Probability theory
See Bayesian probability estimation
Probability weighting 176–87, 198–9
Procedural approach 309–10, 491
Procedural theories 161
Process models 30, 201, 205
Procrastination 291–2, 296, 312, 315–19,
322–3
Product bundle 223, 235, 236
Projection bias 266, 305–6
Prominence effect 88
Promotion focus 168, 183
Property rights 446–7, 453–4
Proposer competition 408–9
Prospect, nature 149–50
Cancellation 161–2
Combination 161
Evaluation 162–164
Regular 162
Segregation 161
Simplifi cation 162
Strictly negative 162
Strictly positive 162
Prospect theory (PT) 160–187, 397–8,
469, 484
Criticisms 188–197
Models in discounting 302–3
Third generation 197–9
Psychological forward induction 429
Psychological game theory (PGT) 393,
418–21, 428–9, 430
Psychological plausibility 33, 462
Psychological regularity 466–7
Public goods 339, 436, 441–3, 446–7,
453–4, 490
Public goods games
See games
570
Punishment 399, 405, 410, 411, 418,
422–3, 432–4, 436, 438–9, 446, 453–4
Anti-social 405, 414, 435
Pure strategies 350
Strategic 399
Q
Quantal response equilibrium (QRE) 357,
369, 462
Quasi-hyperbolic function
See discount function
Quiggin, J. 158, 162, 207
R
Rabin, M. 10, 129, 196, 303, 305, 309, 317,
410, 425, 463
Rabin model 425–8
Racetrack betting 170, 175–6, 187, 237
Radiohead 393
Rae, J. 262
Rajagopal, P. 225, 232
Randomization 352–6, 492
Random preference model 202
Rangel, A. 35, 51, 95
Rank-affected multiplicative weights
(RAM) models 203
Rank-dependent EUT (RDU) 158
Ratchet effect 91, 215
Rating tasks 270
Rational expectations 75, 305
Rationality 3, 22, 25, 74–86, 470–5
See also irrationality
Read, D. 238, 266–7, 270, 275, 277, 301
Reciprocity 393, 398–9, 402, 410, 411, 412,
414, 424, 425–7, 432–4, 438, 444, 453–4,
455–6, 492
Models 418, 425–429, 430–433, 462
Negative 399, 410, 414, 425–7, 453–4,
455–6
Positive 399, 402, 414, 425–7, 453–4,
455–6
Strong 399
Recreational drugs 324, 489
Redelmeier, D.A. 76–7, 89, 231, 273, 275,
471
Reductionism 33–6, 49, 311, 313, 466–7
Reference agents 396, 418
Reference-dependent subjective expected
utility (RDSEU) 198
Reference point 76, 94, 161, 163, 164–7,
198, 205, 214, 215–17, 234, 258, 487
Reference price 220, 445–6
Reference standard 418, 431–2
Reference transactions 397
Refl ection effect 173, 196–197, 215
Refl exivity 68
Regret theory 156, 202
Regulatory focus 168
Reinforcement learning
See learning effects
Religion 478, 497–9, 501
Repetitive transcranial magnetic
stimulation (RTMS) 439
See also transcranial magnetic
stimulation
Replicas 132, 144–5
Representativeness heuristic 70, 119, 121,
463, 472
Reputation effect 134, 359
Responder competition 408–9
Response curve
See best response function
Retaliation 134, 336, 405, 410, 414,
435
Retrospective durability bias 479
Retrospective hedonic editing 89
Revealed preference 65, 68, 84
Reverse inference 45, 101
Reward prediction error (RPE)
See dopamine reward prediction error
Reverse time inconsistency 291
Rha, J.-Y. 225, 232
Ricardian equivalence 329
Ridley, M. 406–7, 437, 479
Riots 57–60
Risk-aversion 151–2, 174–5, 178–87, 364,
375
571
I N D E X
Risk-dominant strategy 375, 434–5
Risk-free puzzle
See equity premium puzzle
Risk-seeking 180–7
Ritov, I. 98–100
Robson, A. 85–6, 152–3, 268, 301, 314
Robustness 424
Roelofsma, P. 270, 287, 301
Rogers, A.R. 268
Roth, A.E. 359, 362, 401, 405, 407, 408,
413
Rottenstreich, Y. 370–2, 416
rTMS
See repetitive transcranial magnetic
stimulation
Rubinstein, A. 201, 309–10, 372
Rullière, J.L. 408–9
Rustichini, A. 442
Rutherford, E. 33
Ryle, G. 18
S
Sales promotions 223–4, 241
Salience 119, 235, 236, 370–2
Samuelson, L. 301, 314
Samuelson, P.A. 238, 261, 263–4, 266
Sanfey, A.G. 439–40
Sarin, R. 84, 157
Satisfaction treadmill 91
Satisfi cing 8
Savings 327–332, 486, 488–9
Schelling, T. 370
Schelling salience 371
Schkade, D. 111, 112, 479
Schmidt, K.M. 41, 198–9, 411, 416,
422–4, 430–1, 444–5, 455–6, 464
Schooler, J.W. 77, 135, 480, 482, 483–4
Schwarz, N. 472, 473
Schweitzer, M.E. 170, 215–17
Sealed-bid mechanism 363
Segregation principle 161, 220
Selection process
See natural selection
Self-attribution bias 127
Self-control problems 136–7, 225–35,
291–2, 295–299, 303, 304–5, 308–16,
326–7, 327–332
Self-deception 126–8, 135, 438
Self-defeating behavior 132–40, 482–4,
497–9
Self-esteem 126–7, 136
Self-evaluation bias 124–132, 316
Selfi sh gene theory 138, 182, 501
Self-handicapping 136, 374
Self-harm 136, 374
Self-perception theory 481
Self-regulation
See self-control problems
Self-serving bias 8, 124, 126, 360, 387–8,
408, 487, 491, 500
Self-signaling 78, 92–3, 105–9, 240, 308,
319
Selten, R. 375
Sen, A. K. 9, 86, 422
Separating equilibrium 376, 389–90
Sequential moves 340, 345, 347–9, 365,
367–8
Sexual selection 73
Shafi r, E. 23, 74, 470–5
Shaked, A. 32, 41, 361–3, 371, 415, 430–1,
435
Shea, J. 214–15, 300, 303
Shefrin, H.M. 169, 228–9, 314
Shirking 352, 455–6
Shiv, B. 136, 311–12
Shogren, J.F. 39, 190, 401, 408, 470
Sicherman, N. 275, 277, 289
Signaling 73, 361, 372–7, 487
Sign effect 273–4, 277
‘Silver lining’ principle 220
Simester, D. 229, 235, 240
Simon, H.A. 14, 117, 139, 475
Simonson, I. 238
Simulational fl uency 128
Simultaneous moves 337, 338, 340, 352
Single-task individual-choice design
196, 471–2
572
Singleton node 344
Slovic, P. 79, 88, 119, 177, 181, 471, 473
Smith. A. 13, 72, 134, 261–2
Smith, V.L. 14, 400–1, 407, 412, 474, 475
Social capital 401
Social contracts 449–52, 474
Social norms 357–8, 371, 415–17, 434–6,
438, 441–3, 445, 446, 476, 492, 503
Social ostracism 443–4, 446–7
Social preferences 362–3, 381, 393–457
Modeling 417–21
Social time-preference rate (STPR) 323
Soman, D. 227–8, 234, 235, 236, 240, 267
Somatic marker hypothesis (SMH) 47,
88, 127, 496–7
Sophisticated discounters 296–9, 316–17,
320–1, 326–7
Sophistication, of learning 382
Spiteful behavior 395, 400, 410–11, 414,
422, 434
Stacchetti, E. 418–21, 428
Stackelberg oligopoly 345, 347–9, 379
Stahl, D.O. 368–9, 381–2
Stakes, in games 407
Stanovich. K.E. 139, 471, 473
Starmer, C. 155, 157, 158, 160, 162, 191,
196, 198–9, 202–3, 207, 271, 359, 371,
471–2
Stated Willingness To Pay (SWTP) 99,
109
Static games
See games
Statman, M. 169, 228–9, 229–230
Stigler, G. 31, 393
Stochastic decision models 202–3
Stochastic dominance 150–1, 191–2
Stone, A.B. 435, 457
Strategic interaction 26, 27
Strategic moves
See commitment
Strategic punishment
See punishment
Strategic response 195, 400–1
Strictly dominant strategy 342
‘Stripped’ prospect theory 157
Strotz, R.H. 293
Subadditive discounting
See discounting
Subadditivity 177, 310
Subcertainty 177
Subgame 344
Subgame perfection 344–5
Subgame-perfect Nash equilibrium
(SPNE) 342, 344–5, 362–3
Subjective expected utility (SEU) 157
Subjective value 95–6
Subjective weighted utility (SWU) 157
Subjective wellbeing (SWB) 476
Subproportionality 177
Substitution axiom
See independence axiom
Sugden, R. 156, 191, 196, 198–9, 202–3,
359, 371, 471–2
Suicide bombing 437
Sunk costs 234–5
Sunstein, C.R. 44, 80, 97–8, 246–7, 324,
332
Switched social contract 451–2
Switching costs 321
Sympathetic magic 130–1
T
Tankersley, D. 41, 50
Target workers 242–5
Team reasoning 371–2, 416, 492
Teleological process 138
Temporal loss-aversion 273–4
Temptation 291–2, 296, 312, 315–19
‘Tempting fate’ 126, 130
Terrorist attacks
See counter-terrorism policy
Testosterone 104, 137, 143
Thaler, R.H. 14, 47, 80, 93, 186, 195, 196,
210–11, 219–23, 228–9, 236, 237, 238,
244–6, 247, 248, 251–3, 273, 274, 292,
300, 314, 324, 332, 397, 408, 413, 445,
471
573
I N D E X
Theories, nature of 29–33, 461–2
Third generation prospect theory 197–9
‘Three-act tragedy’ 75–6
Tice, D.M. 136–7
Ticket touting 397
Time budgeting 232–3
Time-inconsistent preferences 291–301,
304–5, 306–9, 311–14, 315–24, 462,
488–9
Time preference 40, 289–90
Tipping 394, 397
‘Tit-for-tat’ strategy (TFT) 398, 406–7,
416
Titration procedures 269
TMS
See transcranial magnetic stimulation
Tobin, J. 23
Tom, S.M. 169
Tooby, J. 313, 450–2, 469, 474
‘Tragedy of the commons’ 253, 324, 339,
442, 490
Transaction costs 40, 271–2, 360, 401
Transcranial magnetic stimulation (TMS)
18, 42, 56, 94
Transfer of attention exchange (TAX)
models 203–5
Transitivity 6, 68, 149, 155, 162, 189,
191–2, 198–9, 202, 207
Treadmill effect 91, 477–8
‘Trending’ regime 123
Trivers, R. 127–8
Trivializations, of violations of rationality
470–2
Trust contract 444–5, 487
Trust games
See games
Tversky, A. 5, 7, 14, 23, 47, 68–70, 74,
79, 87–8, 90–2, 93, 119, 123, 150, 153,
159–87, 223, 234, 471, 472, 473, 474,
477
U
Ultimatum bargaining games
See games
Uncertainty 148, 159–60, 287, 314
Uncertainty aversion principle 478–9
Underconfi dence 125–6
Unpredictability 351–356
Utility
Acquisition 93
Anticipatory 77, 92, 275, 288, 304,
465
Cardinal 87
Concave 286–7
Decision 85, 86–8, 275, 288, 485–6
Diagnostic 78, 92–3, 105–9
Experienced 86–8, 89, 105–8, 275, 288
Hedonic 86–8
Independence 265
Measurement of 95–6
Nature of 71–2, 86, 93–7
Ordinal 87
Predicted 77, 84, 465
Real-time 89, 275, 465
Remembered 89, 275, 465
Residual 92
Stationary instantaneous 266
Transaction 93
Utility functions 152, 171–6
V
Value
See Utility
Varian, H.R. 65, 76
Ventral striatum 90, 169, 439
Ventromedial prefrontal cortex (VMPFC)
160, 169, 314, 439–40
Vicarious consumption effect 82, 102
‘Vice’ goods 97, 105–9
‘Virtuous’ goods 97
Visceral factors 83–6, 104–5, 128, 288,
304, 485, 486
Visceral fi t 128, 187
Volition
See free will
von Mises, L. 7
von Neumann, J. 149, 337
574
W
Wakker, P.P. 84, 157, 186, 193
Walker, M. 351, 355–6
Wang, X.T. 196–7, 223
Wansink, B. 79, 303
Warfare 499–502
‘Warm glow’ 395
Wason, P.C. 449
Wason Test 412, 449–52, 468, 474,
493
Weber, R. 368
Wegner, D.M. 9, 483
Weighted utility theory 156
Welfare 44, 315–20, 475–84
‘Well-behaved’ preferences 155
Well-being
See welfare
Wertenbroch, K. 317
West, R.F. 471, 473
Whistle blowing 444, 446
Williams, M.B. 38, 266, 271–2, 300
Willingness-to-accept (WTA) 86, 169,
194–6, 210–3
Willingness-to-pay (WTP) 86, 169, 194–6,
210–3
Wilson, E.O. 31, 46
Wilson, T.D. 135, 165, 368–9, 472, 477–9,
480
Within-subjects studies 36, 277
Wooders, J. 351, 355–6
World Values Survey 476
WTA-WTP gap
See endowment effect (possession)
Y
Yanomamo tribe 183
Yen, S.-H. 197–200
Z
Zahavi, A. 136, 374, 434
Zak, P. 440–1
Zeiler, K. 79, 194–6, 211–12
Zero-sum games
See games
Zwick, R. 405, 407, 412
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