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Behavioural Economics

Psychology, neuroscience, and the human side of economics

Audiobook
1 of 1 copy available
1 of 1 copy available
For centuries, economics was dominated by the idea that we are rational individuals who optimize our own "utility." Then, in the 1970s, psychologists demonstrated that the reality is a lot messier. We don't really know what our utility is, and we care about people other than ourselves. We are susceptible to external nudges. And far from being perfectly rational, we are prone to "cognitive biases" with complex effects on decision-making, such as forgetting to prepare for retirement. In this book, David Orrell explores the findings from psychology and neuroscience that are shaking up economics—and that are being exploited by policy-makers and marketers alike to shape everything from how we shop for food to how we tackle societal happiness or climate change. Finally, he asks whether behavioural economics is a scientific revolution or just a scientific form of marketing.
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    • AudioFile Magazine
      The so-called dismal science has merged with psychology and neurology to study why people make all types of economic decisions. Systems biologist and economist David Orrell documents the current state of this research in this well-written audiobook. Narrator Al Kessel's vocal style is lyrical and enjoyable to hear, even when his melodic pitch patterns fluctuate in ways that don't quite fit the structure of a sentence. But the author's fascinating research and insights are coherent nonetheless as he describes how personal choices are influenced by various factors. By the end of this behavioral science audio, listeners will understand how their decisions and attitudes can be influenced by factors like the way a message is worded or by their own need to belong, avoid loss, minimize effort, or satisfy an obligation. T.W. © AudioFile 2021, Portland, Maine

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