Behavioral economics, the study of the psychological determinants of economic decision-making and action, is now one of the established areas in economics, enhancing business and economic planning with interdisciplinary contributions from sociology, neurobiology and psychology. The field provides new and economically relevant insights into the formation of preferences and expectations and associated misjudgments, which are now widely accepted. The introduction, written by an experienced university lecturer, provides a clearly structured and comprehensible overview of basic principles, together with research findings and areas of application. The book can be used for training, research and teaching as well as to inform interested readers.
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Prof. Dr. Peter Witt holds the Chair of Technology and Innovation Management at the University of Wuppertal.
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