Psychology and Economics: Evidence from the Field. Part II: Social Preferences and Nonstandard Beliefs

Stefano DellaVigna

Voprosy Ekonomiki, 2011, issue 5

Abstract: The second part of a larger work devoted to the modern behavioral economics considers nonstandard preferences that are manifest in altruistic behavior and charitable giving. The author also deals with nonstandard beliefs and shows how overconfidence, incorrect estimation of probabilities and extrapolation of previous experience produce biases in the rational decision-making, including the behavior on financial markets.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2011:id:1196

DOI: 10.32609/0042-8736-2011-5-56-74

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