Behavioral Predictive Modeling In Economics

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Behavioral Predictive Modeling in Economics

Songsak Sriboonchitta,Vladik Kreinovich,Woraphon Yamaka
Behavioral Predictive Modeling in Economics Book PDF

Author : Songsak Sriboonchitta,Vladik Kreinovich,Woraphon Yamaka
Publisher : Springer Nature
Page : 445 pages
File Size : 55,8 Mb
Release : 2020-08-05
Category : Technology & Engineering
ISBN : 9783030497286

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Behavioral Predictive Modeling in Economics by Songsak Sriboonchitta,Vladik Kreinovich,Woraphon Yamaka Pdf

This book presents both methodological papers on and examples of applying behavioral predictive models to specific economic problems, with a focus on how to take into account people's behavior when making economic predictions. This is an important issue, since traditional economic models assumed that people make wise economic decisions based on a detailed rational analysis of all the relevant aspects. However, in reality – as Nobel Prize-winning research has shown – people have a limited ability to process information and, as a result, their decisions are not always optimal. Discussing the need for prediction-oriented statistical techniques, since many statistical methods currently used in economics focus more on model fitting and do not always lead to good predictions, the book is a valuable resource for researchers and students interested in the latest results and challenges and for practitioners wanting to learn how to use state-of-the-art techniques.

Neuroeconomics

Eric J. Johnson,Roger Ratcliff
Neuroeconomics Book PDF

Author : Eric J. Johnson,Roger Ratcliff
Publisher : Elsevier Inc. Chapters
Page : 560 pages
File Size : 47,5 Mb
Release : 2013-08-13
Category : Medical
ISBN : 9780128073100

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Neuroeconomics by Eric J. Johnson,Roger Ratcliff Pdf

This chapter reviews models of choice on two levels: The first concerns the descriptions of choice and their evolution from normative models of how choices should be make to more behaviorally realistic models, more consistent with data showing that choice depends heavily on context. We present brief overviews of risky and riskless choice models and data and for choice over time. We then turn to computational process models, a more recent class of models that make prediction for multiple properties of the decision process beyond simply what is chosen, including predicting the distribution of errors and decision times.These models are typically applied to simpler choices, but have found great use in contemporary neuroscience.

Reframing Health Behavior Change With Behavioral Economics

Warren K. Bickel,Rudy E. Vuchinich
Reframing Health Behavior Change With Behavioral Economics Book PDF

Author : Warren K. Bickel,Rudy E. Vuchinich
Publisher : Psychology Press
Page : 439 pages
File Size : 55,5 Mb
Release : 2000-02
Category : Business & Economics
ISBN : 9781135683290

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Reframing Health Behavior Change With Behavioral Economics by Warren K. Bickel,Rudy E. Vuchinich Pdf

With contributions from experts in experimental and clinical psychology & economics, this book examines the latest behavioral economic research on smoking, drug & alchohol abuse, obesity, gambling,etc. Ideal for psychologists, economists,& policy makers

The Foundations of Behavioral Economic Analysis

Sanjit Dhami
The Foundations of Behavioral Economic Analysis Book PDF

Author : Sanjit Dhami
Publisher : Oxford University Press, USA
Page : 300 pages
File Size : 54,8 Mb
Release : 2019-12-16
Category : Economics
ISBN : 9780198853688

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The Foundations of Behavioral Economic Analysis by Sanjit Dhami Pdf

This sixth volume of The Foundations of Behavioral Economic Analysis covers behavioral models of learning. It is an essential guide for advanced undergraduate and postgraduate students seeking a concise and focused text on this important subject, and examines evolutionary game theory, models of learning, and stochastic social dynamics. This updated extract from Dhami's leading textbook allows the reader to pursue subsections of this vast and rapidly growing field and to tailor their reading to their specific interests in behavioral economics.

Behavioral Economy and Consumption Behavioral Prediction

Johnny Ch LOK
Behavioral Economy and Consumption Behavioral Prediction Book PDF

Author : Johnny Ch LOK
Publisher : Unknown
Page : 288 pages
File Size : 40,5 Mb
Release : 2017-06-28
Category : Electronic
ISBN : 1521707030

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Behavioral Economy and Consumption Behavioral Prediction by Johnny Ch LOK Pdf

I write this book aim to show what the weaknesses of the standard economic model are and the behavioral economic model strengths are to predict consumer behavior. I find to use the behavioral economic model to predict consumer behavior is more accurate to compare to use standard economic model. Behavioral economy is consisted from psychology and standard economic model. Standard economic model is the way most economists think about consumer welfare and consumer choice in microeconomic environment. I shall apply behavioral economic model to explain underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises which rationality in the standard economic model relies heavily on the assumption that consumers are rational. In this case of consumer individual behavior consumption process, I assume that consumers are fully aware of all the options who have, who can always and consistently to rank their options in accordance will whose preferences and always choose the option who like best. Thus, these assumptions of the standard economy model of consumer include such as: consumers have known preferences and consumers choose the best option available. The advantages of the standard model, from there three assumptions, such as a logically consistent theory of consumer behavior can be built, that theory can be used to make predictions about consumer behavior and those predictions can be compared with reality. These models often correspond to actual consumer behavior. But behavioral economy model can give evidence from psychology to show that consumer often are irrational and also who are predictably irrational. Clearly, psychology has shown that the rationality assumptions of standard economics are wrong. For example, if irrational consumers were irrational in random ways, who would cancel each other out, leaving the overall outcome determined by the behavior of rational consumers. In that case, economic theories that ignored irrational between would work just fine. But psychology has shown that consumers are irrational in similar and predictable ways, therefore, irrationality doesn't cancel out and can't be ignored. Moreover, the fact that consumers are predictably irrational means that whose predictably irrational behavior can be relatively easily inserted into economic theories to make economic predictions more accurate. In fact, consumers often are unable to make use of what who know about their available options and their preferences to figure out the best available option, and even when who know what is best for them, evidence shows who often make bad choices anyway. Unfortunately for economic view point, there's plenty of reliable evidence of predictably unselfish behavior to consumers. It is true, that the free market competition will encourage consumers to make the best option.

Credible Asset Allocation, Optimal Transport Methods, and Related Topics

Songsak Sriboonchitta,Vladik Kreinovich,Woraphon Yamaka
Credible Asset Allocation Optimal Transport Methods and Related Topics Book PDF

Author : Songsak Sriboonchitta,Vladik Kreinovich,Woraphon Yamaka
Publisher : Springer Nature
Page : 762 pages
File Size : 41,9 Mb
Release : 2022-07-29
Category : Technology & Engineering
ISBN : 9783030972738

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Credible Asset Allocation, Optimal Transport Methods, and Related Topics by Songsak Sriboonchitta,Vladik Kreinovich,Woraphon Yamaka Pdf

This book describes state-of-the-art economic ideas and how these ideas can be (and are) used to make economic decision (in particular, to optimally allocate assets) and to gauge the results of different economic decisions (in particular, by using optimal transport methods). Special emphasis is paid to machine learning techniques (including deep learning) and to different aspects of quantum econometrics—when quantum physics and quantum computing models are techniques are applied to study economic phenomena. Applications range from more traditional economic areas to more non-traditional topics such as economic aspects of tourism, cryptocurrencies, telecommunication infrastructure, and pandemic. This book helps student to learn new techniques, practitioners to become better knowledgeable of the state-of-the-art econometric techniques, and researchers to further develop these important research directions

Agricultural Policy Analysis Tools For Economic Development

Luther Tweeten
Agricultural Policy Analysis Tools For Economic Development Book PDF

Author : Luther Tweeten
Publisher : Routledge
Page : 419 pages
File Size : 49,6 Mb
Release : 2019-04-24
Category : Political Science
ISBN : 9780429693809

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Agricultural Policy Analysis Tools For Economic Development by Luther Tweeten Pdf

This book was written to make modem policy analysis methods accessible to policy analysts. It can improve policy decisions by combining the best analytical methods with the power of analysts' and decisionmakers' good judgment and with microcomputer hardware and software.

Behavioral Data Analysis with R and Python

Florent Buisson
Behavioral Data Analysis with R and Python Book PDF

Author : Florent Buisson
Publisher : "O'Reilly Media, Inc."
Page : 361 pages
File Size : 40,8 Mb
Release : 2021-06-15
Category : Business & Economics
ISBN : 9781492061342

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Behavioral Data Analysis with R and Python by Florent Buisson Pdf

Harness the full power of the behavioral data in your company by learning tools specifically designed for behavioral data analysis. Common data science algorithms and predictive analytics tools treat customer behavioral data, such as clicks on a website or purchases in a supermarket, the same as any other data. Instead, this practical guide introduces powerful methods specifically tailored for behavioral data analysis. Advanced experimental design helps you get the most out of your A/B tests, while causal diagrams allow you to tease out the causes of behaviors even when you can't run experiments. Written in an accessible style for data scientists, business analysts, and behavioral scientists, thispractical book provides complete examples and exercises in R and Python to help you gain more insight from your data--immediately. Understand the specifics of behavioral data Explore the differences between measurement and prediction Learn how to clean and prepare behavioral data Design and analyze experiments to drive optimal business decisions Use behavioral data to understand and measure cause and effect Segment customers in a transparent and insightful way

Routledge Handbook of Behavioral Economics

Roger Frantz,Shu-Heng Chen,Kurt Dopfer,Floris Heukelom,Shabnam Mousavi
Routledge Handbook of Behavioral Economics Book PDF

Author : Roger Frantz,Shu-Heng Chen,Kurt Dopfer,Floris Heukelom,Shabnam Mousavi
Publisher : Routledge
Page : 581 pages
File Size : 44,7 Mb
Release : 2016-08-05
Category : Business & Economics
ISBN : 9781317589235

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Routledge Handbook of Behavioral Economics by Roger Frantz,Shu-Heng Chen,Kurt Dopfer,Floris Heukelom,Shabnam Mousavi Pdf

There is no doubt that behavioral economics is becoming a dominant lens through which we think about economics. Behavioral economics is not a single school of thought but representative of a range of approaches, and uniquely, this volume presents an overview of them. The wide spectrum of international contributors each provides an exploration of a central approach, aspect or topic in behavorial economics. Taken together, the whole volume provides a comprehensive overview of the subject which considers both key developments and future possibilities. Part One presents several different approaches to behavioural economics, including George Katona, Ken Boulding, Harvey Leibenstein, Vernon Smith, Herbert Simon, Gerd Gigerenzer, Daniel Kahneman, and Richard Thaler. This section looks at the origins and development of behavioral economics and compares and contrasts the work of these scholars who have been so influential in making this area so prominent. Part Two presents applications of behavioural economics including nudging; heuristics; emotions and morality; behavioural political economy, education, and economic innovation. The Routledge Handbook of Behavioral Economics is ideal for advanced economics students and faculty who are looking for a complete state-of-the-art overview of this dynamic field.

Predictive Behavior

Gunnar Brennscheidt
Predictive Behavior Book PDF

Author : Gunnar Brennscheidt
Publisher : Springer Science & Business Media
Page : 234 pages
File Size : 54,7 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642957185

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Predictive Behavior by Gunnar Brennscheidt Pdf

This book describes a series of laboratory experiments (with a total of 167 independent subjects) on forecasting behavior. In all experiments, the time series to be forecasted was generated by an abstract econometric model involving two or three artificial exogenous variables. This designprovides an optimal background for rational expectations and least-squares learning. As expected, these hypotheses do not explain observed forecasting behavior satisfactorily. Some phenomena related to this lack of rationality are studied: Concentration on changes rather than levels,underestimation of changes and overvaluation of volatile exogenous variables. Some learning behavior is observed. Finally, some aspects of individual forecasts such as prominence of "round" number, dispersion, etc.,are studied.

Behaviour Economics Prediction Method and

Johnny C. H. Lok
Behaviour Economics Prediction Method and Book PDF

Author : Johnny C. H. Lok
Publisher : Createspace Independent Publishing Platform
Page : 96 pages
File Size : 47,9 Mb
Release : 2018-01-05
Category : Electronic
ISBN : 1983594598

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Behaviour Economics Prediction Method and by Johnny C. H. Lok Pdf

In my book, it shall indicate how the process of behaviour economic field develops, then I shall show what methods are used to measure behavioural economy. Next, I shall indicate what the main two categories of behavioural economy are as well as I shall explain what risky and uncertain outcomes of individual behavior economic theories are as well as what behavioral game theory is. Finally, I shall explain behavioral economic principles of policy makers or decision makers as well as I shall also analyze whether behavioral economy and psychology which has close relationship. I shall indicate underground train and Disney entertainment theme park and University etc. enterprises to explain how which can apply psychological methods to predict which client's preferable behavioral choice to achieve economic benefits more easily. This book is suitable to any economists or policy makers or individual consumption makers or students or working people who have interest learn how to apply behavioural economy to judge to do the most reasonable or the most right economic activities to achieve economic benefit in everyday life.

Policy and Choice

William J. Congdon,Jeffrey R. Kling,Sendhil Mullainathan
Policy and Choice Book PDF

Author : William J. Congdon,Jeffrey R. Kling,Sendhil Mullainathan
Publisher : Brookings Institution Press
Page : 260 pages
File Size : 50,9 Mb
Release : 2011-04-01
Category : Business & Economics
ISBN : 9780815705017

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Policy and Choice by William J. Congdon,Jeffrey R. Kling,Sendhil Mullainathan Pdf

Traditional public finance provides a powerful framework for policy analysis, but it relies on a model of human behavior that the new science of behavioral economics increasingly calls into question. In Policy and Choice economists William Congdon, Jeffrey Kling, and Sendhil Mullainathan argue that public finance not only can incorporate many lessons of behavioral economics but also can serve as a solid foundation from which to apply insights from psychology to questions of economic policy. The authors revisit the core questions of public finance, armed with a richer perspective on human behavior. They do not merely apply findings from psychology to specific economic problems; instead, they explore how psychological factors actually reshape core concepts in public finance such as moral hazard, deadweight loss, and incentives. Part one sets the stage for integrating behavioral economics into public finance by interpreting the evidence from psychology and developing a framework for applying it to questions in public finance. In part two, the authors apply that framework to specific topics in public finance, including social insurance, externalities and public goods, income support and redistribution, and taxation. In doing so, the authors build a unified analytical approach that encompasses both traditional policy levers, such as taxes and subsidies, and more psychologically informed instruments. The net result of this innovative approach is a fully behavioral public finance, an integration of psychology and the economics of the public sector that is explicit, systematic, rigorous, and realistic.

Consumer Finance

Adam J. Levitin
Consumer Finance Book PDF

Author : Adam J. Levitin
Publisher : Aspen Publishing
Page : 1043 pages
File Size : 43,5 Mb
Release : 2022-09-15
Category : Law
ISBN : 9781543856187

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Consumer Finance by Adam J. Levitin Pdf

Consumer Finance: Markets and Regulation is the first law school text to focus on consumer financial services markets and their regulation. Structured around clear expository text and realistic problem sets, the book provides comprehensive coverage of the regulation of consumer credit, payments, and financial data markets by federal, state, and private law, including detailed coverage of the authority of the Consumer Financial Protection Bureau (CFPB), a powerful new federal regulatory agency. The book also acquaints students with the full range of consumer financial products, how they operate, the risks and policy issues they raise, and their regulation. In so doing, the book provides an applied look at how regulatory agencies work, offering students a practical look at how statutes and regulations interact and how regulatory agencies enforce them. New to the Second Edition: Coverage of new Regulation F, implementing the Fair Debt Collection Practices Act Coverage of buy-now-pay-later Coverage of retail installment sales contracts and time-price doctrine Coverage of rent-to-own contracts Expanded coverage of rent-a-bank arrangements Expanded coverage of anti-money laundering regulations Professors and students will benefit from: Detailed coverage of the Consumer Financial Protection Bureau (CFPB), a new federal regulatory agency with broad authority over consumer credit, payment, deposit, and financial data markets. Comprehensive treatment of consumer credit regulation, including mortgages, credit cards, auto loans, student loans, and small dollar loans, as well as credit disclosures, usury, and fair lending regulation. State-of-the-art coverage of consumer payment systems, with detailed coverage of electronic payment systems (credit cards, debit cards, ACH) and mobile wallets. Coverage of topics not found elsewhere in law school curriculum, including anti-money laundering regulations, behavioral economics, fair lending laws, and consumer financial data privacy and data security. Free companion statutory supplement (available on website).

Advances in Behavioral Economics

Colin F. Camerer,George Loewenstein,Matthew Rabin
Advances in Behavioral Economics Book PDF

Author : Colin F. Camerer,George Loewenstein,Matthew Rabin
Publisher : Princeton University Press
Page : 769 pages
File Size : 55,8 Mb
Release : 2011-12-12
Category : Business & Economics
ISBN : 9781400829118

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Advances in Behavioral Economics by Colin F. Camerer,George Loewenstein,Matthew Rabin Pdf

Twenty years ago, behavioral economics did not exist as a field. Most economists were deeply skeptical--even antagonistic--toward the idea of importing insights from psychology into their field. Today, behavioral economics has become virtually mainstream. It is well represented in prominent journals and top economics departments, and behavioral economists, including several contributors to this volume, have garnered some of the most prestigious awards in the profession. This book assembles the most important papers on behavioral economics published since around 1990. Among the 25 articles are many that update and extend earlier foundational contributions, as well as cutting-edge papers that break new theoretical and empirical ground. Advances in Behavioral Economics will serve as the definitive one-volume resource for those who want to familiarize themselves with the new field or keep up-to-date with the latest developments. It will not only be a core text for students, but will be consulted widely by professional economists, as well as psychologists and social scientists with an interest in how behavioral insights are being applied in economics. The articles, which follow Colin Camerer and George Loewenstein's introduction, are by the editors, George A. Akerlof, Linda Babcock, Shlomo Benartzi, Vincent P. Crawford, Peter Diamond, Ernst Fehr, Robert H. Frank, Shane Frederick, Simon Gächter, David Genesove, Itzhak Gilboa, Uri Gneezy, Robert M. Hutchens, Daniel Kahneman, Jack L. Knetsch, David Laibson, Christopher Mayer, Terrance Odean, Ted O'Donoghue, Aldo Rustichini, David Schmeidler, Klaus M. Schmidt, Eldar Shafir, Hersh M. Shefrin, Chris Starmer, Richard H. Thaler, Amos Tversky, and Janet L. Yellen.

Behavioral Operational Research

Leroy White,Martin Kunc,Katharina Burger,Jonathan Malpass
Behavioral Operational Research Book PDF

Author : Leroy White,Martin Kunc,Katharina Burger,Jonathan Malpass
Publisher : Springer Nature
Page : 379 pages
File Size : 43,8 Mb
Release : 2019-10-24
Category : Business & Economics
ISBN : 9783030254056

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Behavioral Operational Research by Leroy White,Martin Kunc,Katharina Burger,Jonathan Malpass Pdf

This edited collection addresses the question of which capabilities and competencies enable Behavioral Operational Research to provide sustained improvement to decision processes. The aim is to show how a focus on capability and competency will not only meet short-term requirements for problem solving and decision support, but also build a solid foundation for the future. The contributors present recent advances in Behavioral OR, with a focus on the ways in which users of models deal with incomplete and imprecise information, subjective boundaries and uncertainty. These chapters are structured around three key dimensions of BOR: capabilities, cognition and aspects of practice.