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Rationality Gone Awry?: Decision Making Inconsistent with Economic and Financial Theory

Hugh H. Schwartz




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 | #5812021 in Books |  Hugh Schwartz Shlomo Maital |  2000-09-30 | Original language:English | PDF # 1 |  9.21 x.50 x6.14l,.82 | File type: PDF | 240 pages

 | Rationality Gone Awry Decision Making Inconsistent with Economic and Financial Theory

||7 of 7 people found the following review helpful.| A good overview of the "new" behavioral economics(finance)|By Michael Emmett Brady|Schwartz has written an excellent summary of what is now called the "new" field of behavioral economics(or psychology or finance).The title is somewhat misleading.It conflates the concept of rationality(all rational economic men and women supposedly have a complete,perfect,error free,costless inf

Traditional economic and financial theory is being challenged because normative, prescriptive models derived from it are not predicting the behavior of successful producers, investors, or consumers as well as anticipated. Economists and psychologists are documenting anomalies at the individual level, in financial markets, and in natural economic settings. This opens the larger question of the importance of psychological, sociological, and other phenomena for financial...

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