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What are the must read books about Behavioral What are some of the best books on behavioral
Economics? economics?

I love and have a great passion in behavioral


Answer Request Follow 64 Comment Share Downvote economics and read a lot of books about it. What job
related to behavioral economics can I look ...

9 Answers What interesting books would you recommend about


behavioral finance/behavioral economics?

Matt Hickey, Econ masters student, Digital strategy consultant, occasional What are some good books to read to understand
writer/blogger behavioral economics?
Answered Jan 18, 2013
'Thinking, Fast and Slow' by Daniel Kahneman (Thinking, Fast and Slow: Daniel What are the must-read behavioral economics papers
for an economics student interested in this area?
Kahneman: 9780374275631: Amazon.com: Books ) is probably the best popular
behavioural economics book. Kahneman is the godfather of the discipline and Nobel Which book is a 'must read' for someone who wants to
understand 'Indian economics' and changes?
Laureate. It also includes some of his articles with Amos Tversky as appendices,
which Behdad Esfahbod mentioned in his response. What are the top 10 economic must-reads that are fun
to read, and not academic?

If you're unfamiliar with the area then this book will give a good introduction to it Being an economics graduate, what are some of the
before you jump into published articles. It's more dense than many of the others on must-read books for gaining expertise in the subject?
the market (including Dan Ariely's), but easier to read than a textbook.
What economics books are must reads for any
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Pranav Kumar, Here to learn and share 63 Public Followers


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Answered May 31, 2014
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This is a fascinating subject. Here is my list - I think every single one of them is a Last Asked Feb 3, 2016
blockbuster book. The eld is ruled by Daniels and Roberts!
Edits
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The books below include those with general framework (#1, #4) and those that take it
into specic directions such as public policy (#2, #3), self help and happiness (#5),
business (#7) and nancial markets (#6, #8)

1. "Thinking Fast and Slow" by the Nobel Laureate Daniel Kanheman is clearly at the
top of the stack. The "system 1 aka fast" and "system 2 aka slow" is a really good
conceptual framework he describes which he subsequently uses to explain a large
number of behavioral economics experiments, many of which are counter-intuitive.

2. "Nudge: Improving Decisions About Health, Wealth, and Happiness by Richard


Thaler. My favorite phrase from the book is "choice architecture". This is an
interesting book for policy wonks as Thaler asserts that while people should have
liberty to make their own choices, society has an incentive to "nudge" them towards
better choices primarily by changing their choice architecture.

3. "World Development Report 2015: Mind and Mindsets" is an upcoming World


Bank Group annual agship research publication. From what I have read and seen so
far, it promises to be a major piece of work especially for those interested in policy
implications (Disclaimer: I work at the WB but not the report)

4. "Predictably Irrational" by Dan Ariely. He explains the why of seemingly


irrational choices. Dan also has written two other books subsequently.

5. "Stumbling on Happiness" by Daniel Gilbert. Yet another Dan! The author talks
about cognitive biases when it comes to making choices around happiness - an
obviously very important topic.

6. "Animal Spirits: How Human Psychology Drives the Economy and Why It Matters
for Global Capitalism by two Nobel winners George A. Akerlof and Robert Shiller.

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Older classics
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Roberts ruled the roost then!

7. "Inuence" by Robert Cialdini on the psychology of persuation

8. "Irrantional exuberance" by Robert Shiller on irrationality in nancial markets.

9. "Models of Thought" by Herbert Simon, yet another Nobel winner and a


polymath. Thanks Alex Teytelboym for recommending.

If I missed a really good book or paper that should be on this list , please recommend in
the comment section.

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In terms of must-read books on behavioral economics, I'd oer the following:

Phishing for Phools (Akerlof and Shiller)

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Thinking, Fast and Slow (Kahneman)

Scarcity (Mullanainathan and Shar)

Irrational Exuberance (Shiller)

Simpler (Sunstein)

Misbehaving (Thaler)

Nudge (Thaler and Sunstein)

I have a broader list on Quora for the best books (which goes beyond the must-read
books) Steve Shu's answer to What are some of the best books on behavioral
economics?

_________

Steve Shu specializes in incubating new initiatives with a primary focus on strategy,
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Behdad Esfahbod, Sta Software Engineer at Google


Answered Jan 17, 2013

"Predictably Irrational" and "Upside of Irrationality" by Dan Ariely are great intro
pop-sci books.
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If you prefer something more scientic / less pop, try "The Psychology of Judgment
and Decision Making" by Scout Plous.
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For a more nance-oriented view, read "Behavioral Finance: Psychology, Decision-


Making, and Markets" by Ackert and Deaves. This includes an intro to Prospect
Theory, which the previous books don't.

You can also search for papers and books by Kahneman, Tversky, and Thaler. Those
are the pioneers of the eld.

Do note that the eld (and its experiments) are fairly limited. So if you read three
books by three dierent authors, chances are most of the experiments you read about
in the third book you have had seen before already.
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Irving Rivera, works at U.S. Army


Answered Feb 8, 2016

Wow, you already have some great suggestions so far. However, allow me to second
some of them with a brief overview of their content and importance.

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Agrawal Khushboo, lives in Kolkata, West Bengal, India (2013-present)


Answered Feb 4

Hi!
If you are looking for the best books on behaviorial economics, look no further.

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Inuence in managerial decision making


Nudge: improving decisions about health, wealth, and happiness
Why smart people make big money mistakes
Breakdown of will Please refresh this page to receive new updates.

Think twice: harnessing the power of counterintuition

Get them all free of cost at MyPustak. Hurry to have them all!!
Thank you!!

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Andrew Fano
Answered Feb 21, 2013

Beyond Arielly, Kahneman & Tversky and Plous, I'd also suggest two by Richard
Thaler: "Winners Curse", and the more recent "Nudge". Nudge has a slightly dierent
slant than the others because it is focused a bit more on application and advances an
ethical approach to crafting choices. It's interesting to consider from a public policy
perspective.
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Chethan Ravindranath, Engineer


Answered Jan 17, 2013

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Predictably Irrational by Dan Ariely


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Alex Teytelboym, Research Fellow in Economics at INET, University of


Oxford
Answered Jan 18, 2013
A slightly more academic one is "Behavioural Game Theory" by Colin Camerer. It's an
excellent introduction to the experimental evidence in games.

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