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Study On The Development Of Behavioral Economics

Posted on:2006-07-14Degree:MasterType:Thesis
Country:ChinaCandidate:G H LiuFull Text:PDF
GTID:2179360182465636Subject:History of Economic Thought
Abstract/Summary:PDF Full Text Request
Like other economic theories, behavioral economics has also gone through a long developing period. This research proceeds from time clue, analyses the backgrounds of each periods and relevant research results of behavioral economics, and summarizes the relevant thoughts of the representational economist in this stage. The paper is divided into six parts:The first chapter narrates the research background, meaning and domestic and overseas research situation of this research, and the basic contents.In the second chapter, we will mainly describe Adam Smith's relevant theory of modern behavioral economics in The Theory of Moral Sentiments, including "loss aversion", "overconfidence" etc. And then, we will describe and analyze the situation and reason that the behavior was gradually separated from the psychological factors after Smith.Chapter three:In the 1950s and the early 1960s,Katona and Simon began to pay attention on studying the true human psychology. Katona had studied the psychological foundation of consumer behavior,especially anticipation's forming. Simon had put forward the famous "bounded rationality", pointing out the disadvantage of traditional unbounded rationality.Chapter four: After Katona and Simon, a lot of economist and psychologist of started to study the emergence mechanism of economic behavior, and attempted to set up the psychological basic of the economic behavior. By the seventies of the 20th century, the psychologist Kahneman and Tversky issued a series of shocking research results, through absorbing the newest progress in the fields such as experimental psychology and cognitive psychology, etc. They regard the structure of utility function as the core, combining with psychology and economics, and they also inspired other behavioral economist expanding the results to the main branch of mainstream economics, thus formed the real "behavioral economics school".Chapter five: After 1980s, the development of behavioral economics surged forward even more. Firstly, the behavioral economics professors began to be employed in a lot of universities. Secondly, students in the campus began to demonstrate the great interest to behavioral economics too. And Nobel Prize for economics was also awarded to the economists of domains of behavioral economics for the several times in succession. Meanwhile, some economists in behavioral economics came forth in this period, such as Thaler, Rabin, Camerer, Loewenstein, Shiller, etc. They have drawn a series of research results. This chapter regards Thaler, Rabin, and Camerer as the representative figure, introducing their main research results.In the final Chapter, we will prospect the future development trend of behavioral economics, linking the latest research results, and we will point out three important directions. And then, some questions and reviews will be carried on in brief.
Keywords/Search Tags:behavioral economics, development, psychology, behavior
PDF Full Text Request
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