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Financial decisions in the household

In: Handbook of Behavioural Economics and Smart Decision-Making

Author

Listed:
  • Bernadette Kamleitner
  • Till Mengay
  • Erich Kirchler

Abstract

This Handbook is a unique and original contribution of over thirty chapters on behavioural economics, examining and addressing an important stream of research where the starting assumption is that decision-makers are for the most part relatively smart or rational. This particular approach is in contrast to a theme running through much contemporary work where individuals’ behaviour is deemed irrational, biased, and error-prone, often due to how people are hardwired. In the smart people approach, where errors or biases occur and when social dilemmas arise, more often than not, improving the decision-making environment can repair these problems without hijacking or manipulating the preferences of decision-makers. This book covers a wide-range of themes from micro to macro, including various sub-disciplines within economics such as economic psychology, heuristics, fast and slow-thinking, neuroeconomics, experiments, the capabilities approach, institutional economics, methodology, nudging, ethics, and public policy.

Suggested Citation

  • Bernadette Kamleitner & Till Mengay & Erich Kirchler, 2017. "Financial decisions in the household," Chapters, in: Morris Altman (ed.), Handbook of Behavioural Economics and Smart Decision-Making, chapter 19, pages 349-365, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:15532_19
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    File URL: https://www.elgaronline.com/view/9781782549574.00030.xml
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    Cited by:

    1. Fred van Raaij, W. & Antonides, Gerrit & Manon de Groot, I., 2020. "The benefits of joint and separate financial management of couples," Journal of Economic Psychology, Elsevier, vol. 80(C).

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    Keywords

    Economics and Finance;

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