Behavioral Decision Theory: Psychological and Mathematical Descriptions of Human Choice Behavior

The second edition of Behavioral Decision Theory provides a fresh overview of the idea of behavioral decision theory and related research findings, covering a wide range of classical to recent major studies. It is closely related to behavioral economics and behavioral finance and is expected to become even more useful in the future.

Format: Paperback / softback
Length: 394 pages
Publication date: 01 October 2022
Publisher: Springer Verlag, Singapore

The second edition of Behavioral Decision Theory, published in 2014, maintains the main approach and structure of the original while offering a comprehensive and up-to-date overview of the field. This edition provides a fresh perspective on behavioral decision theory and its related research findings, encompassing theoretical and empirical discoveries in preference formation, time discounting, social interaction, and social decision-making. Spanning a wide range of classical to recent significant studies, behavioral decision theory serves as a general term for descriptive theories aimed at explaining psychological knowledge related to human decision-making behavior. While often referred to as a theory, it is actually a combination of various psychological theories, for which no axiomatic systems, such as those associated with the utility theory widely used in economics, have been established.

While the utility theory is commonly limited to qualitative knowledge, the studies of Nobel laureates H. A. Simon, D. Kahneman, and R. Thaler have demonstrated the broad application of psychological methodology and knowledge in fields such as economics, business administration, and engineering. It is expected that these fields will further benefit from the insights and tools provided by behavioral decision theory in the future.

Research into human decision-making plays a crucial role in various domains, intersecting with the scope of behavioral decision theory. This theory shares close connections with behavioral economics and behavioral finance, which have gained increasing prominence in recent years.

This book is particularly appealing to graduate students, advanced undergraduate students, and researchers who have a keen interest in studying decision-making phenomena. Its comprehensive coverage, insightful analysis, and relevant research findings make it an invaluable resource for those seeking to advance their understanding of behavioral decision theory and its applications in various fields.

Weight: 629g
Dimension: 235 x 155 (mm)
ISBN-13: 9789811654558
Edition number: 2nd ed. 2021