1,569
个编辑
更改
跳到导航
跳到搜索
Moved page from wikipedia:en:Behavioral economics (history)
此词条暂由彩云小译翻译，未经人工整理和审校，带来阅读不便，请见谅。
{{Economics sidebar}}
{{Nudge Theory}}
[[File:Nudge.jpg|thumb|right|200px|The behavioral economics concept of "nudging" people's behavior and actions is often illustrated with this urinal with a housefly image embossed in the enamel; the image "nudges" users into improving their aim, which lowers cleaning costs.]]
The behavioral economics concept of "nudging" people's behavior and actions is often illustrated with this urinal with a housefly image embossed in the enamel; the image "nudges" users into improving their aim, which lowers cleaning costs.
“轻推”人们的行为和动作的行为经济学概念通常用这个小便池来说明，小便池的珐琅上浮雕着家蝇的图像; 这个图像“轻推”使用者提高他们的目标，从而降低了清洁成本。
'''Behavioral economics''' studies the effects of [[psychological]], [[cognitive bias|cognitive]], emotional, cultural and social factors on the [[decision making|decisions]] of individuals and institutions and how those decisions vary from those implied by classical economic theory.<ref name="ssrn.com">{{cite journal|ssrn=2040946|title=A Behavioral Framework for Securities Risk|publisher =SSRN|last = Lin|first = Tom C. W. |date = 16 April 2012|journal = Seattle University Law Review}}</ref><ref name=":0">{{Cite journal|last=[[Kathryn Zeiler|Zeiler]]|first=Kathryn|last2=Teitelbaum|first2=Joshua|date=2018-03-30|title=Research Handbook on Behavioral Law and Economics|url=https://scholarship.law.bu.edu/books/35|journal=Books}}</ref>
Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors on the decisions of individuals and institutions and how those decisions vary from those implied by classical economic theory.
行为经济学研究心理、认知、情感、文化和社会因素对个人和机构决策的影响，以及这些决策如何不同于经典经济理论所暗示的决策。
Behavioral economics is primarily concerned with the [[bounded rationality|bounds]] of [[rationality]] of [[economic agent]]s. Behavioral models typically integrate insights from [[psychology]], [[neuroscience]] and [[Microeconomics|microeconomic theory]].<ref>{{cite web|title=Search of ''behavioural economics'' |url=http://www.dictionaryofeconomics.com/search_results?q=behavioural+economics+&edition=current&button_search=GO}} in {{harvnb|Palgrave|ref=Palgrave}}</ref><ref name="MintonKahle2013">{{cite book|first1=Elizabeth A. |last1=Minton|first2=Lynn R. |last2=Kahle|title=Belief Systems, Religion, and Behavioral Economics: Marketing in Multicultural Environments|url={{google books |plainurl=y |id=hk5pngEACAAJ}}|year=2013|publisher=Business Expert Press|isbn=978-1-60649-704-3}}</ref> The study of behavioral economics includes how [[Market (economics)|market]] decisions are made and the mechanisms that drive [[public choice]]. The three prevalent themes in behavioral economics are:{{sfn|Shefrin|2002}}
Behavioral economics is primarily concerned with the bounds of rationality of economic agents. Behavioral models typically integrate insights from psychology, neuroscience and microeconomic theory. The study of behavioral economics includes how market decisions are made and the mechanisms that drive public choice. The three prevalent themes in behavioral economics are:
行为经济学主要研究经济行为主体的理性界限。行为模型通常综合了心理学、神经科学和微观经济学理论的见解。行为经济学的研究包括市场决策是如何做出的，以及驱动公共选择的机制。行为经济学中三个流行的主题是:
* [[Heuristics in judgment and decision making|Heuristics]]: Humans make 95% of their decisions using mental shortcuts or [[rules of thumb]].{{Citation needed|date=May 2020}}
* [[Framing (social sciences)|Framing]]: The collection of [[anecdote]]s and [[stereotype]]s that make up the mental filters individuals rely on to understand and respond to events.
* [[Market anomaly|Market inefficiencies]]: These include [[price mechanism|mis-pricing]] and [[rationality|non-rational decision making]].
In 2002, psychologist [[Daniel Kahneman]] was awarded the [[Nobel Memorial Prize in Economic Sciences]] "for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty."<ref name="Winners2002">{{cite web|url=http://nobelprize.org/nobel_prizes/economics/laureates/2002/|title=The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2002|publisher=Nobel Foundation|accessdate=2008-10-14}}</ref> In 2013, economist [[Robert J. Shiller]] received the [[Nobel Memorial Prize in Economic Sciences]] "for his empirical analysis of asset prices" (within the field of [[#Behavioral finance|behavioral finance]]).<ref>{{cite web|url=https://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2013/|title=The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2013|publisher=Nobel Foundation|accessdate=2016-07-01}}</ref> In 2017, economist [[Richard Thaler]] was awarded the [[Nobel Memorial Prize in Economic Sciences]] for "his contributions to behavioral economics and his pioneering work in establishing that people are predictably irrational in ways that defy economic theory."<ref>{{Cite news|url=https://www.nytimes.com/2017/10/09/business/nobel-economics-richard-thaler.html|title=Nobel in Economics is Awarded to Richard Thaler|last=Appelbaum|first=Binyamin|date=2017-10-09|work=The New York Times|access-date=2017-11-04}}</ref><ref>{{Cite news|url=http://lucidez.pe/economia/richard-thaler-y-el-auge-de-la-economia-conductual-por-marco-carrasco/|title=Richard Thaler y el auge de la Economía Conductual|last=Carrasco-Villanueva|first=Marco|date=2017-10-18|language=es|work=Lucidez|access-date=2018-10-31}}</ref>
In 2002, psychologist Daniel Kahneman was awarded the Nobel Memorial Prize in Economic Sciences "for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty." In 2013, economist Robert J. Shiller received the Nobel Memorial Prize in Economic Sciences "for his empirical analysis of asset prices" (within the field of behavioral finance). In 2017, economist Richard Thaler was awarded the Nobel Memorial Prize in Economic Sciences for "his contributions to behavioral economics and his pioneering work in establishing that people are predictably irrational in ways that defy economic theory."
2002年，心理学家丹尼尔 · 卡尼曼被授予诺贝尔经济学奖，“因为他将心理学研究的成果整合到经济科学中，特别是关于不确定条件下人类的判断和决策。”2013年，经济学家罗勃·席勒因“对资产价格的实证分析”(行为金融学领域)而获得诺贝尔经济学奖。2017年，经济学家 Richard Thaler 被授予诺贝尔经济学奖，以表彰他对行为经济学的贡献和他的开创性工作，他的工作是建立人们是怪诞行为学的方式藐视经济学理论
{{toclimit|3}}
== History <!--'Economic psychology' redirects here--> ==
[[File:Adam Smith The Muir portrait.jpg|thumb|140px|[[Adam Smith]], author of ''The Wealth of Nations'' (1776) and ''The Theory of Moral Sentiments'' (1759).]]
[[Adam Smith, author of The Wealth of Nations (1776) and The Theory of Moral Sentiments (1759).]]
[亚当史密斯，《国富论》(1776)和《道德情操论》(1759)的作者]
During the [[classical economics|classical period]] of economics, microeconomics was closely linked to psychology. For example, [[Adam Smith]] wrote ''[[The Theory of Moral Sentiments]]'', which proposed psychological explanations of individual behavior, including concerns about fairness and [[justice (economics)|justice]].<ref>{{cite journal |first1=Nava |last1=Ashraf |first2=Colin F. |last2=Camerer |first3=George |last3=Loewenstein |year=2005 |title=Adam Smith, Behavioral Economist |journal=[[Journal of Economic Perspectives]] |volume=19 |issue=3 |url=http://webserver1.pugetsound.edu/facultypages/gmilam/courses/econ291/readings/ASmithBenEcon.pdf |doi=10.1257/089533005774357897 |pages=131–45 |access-date=2011-12-20 |archive-url=https://web.archive.org/web/20120417093442/http://webserver1.pugetsound.edu/facultypages/gmilam/courses/econ291/readings/ASmithBenEcon.pdf |archive-date=2012-04-17 |url-status=dead }}.</ref> [[Jeremy Bentham]] wrote extensively on the psychological underpinnings of [[utility]]. Then, during the development of [[neo-classical economics]], economists sought to reshape the discipline as a [[natural science]], deducing behavior from assumptions about the nature of economic agents. They developed the concept of [[homo economicus]], whose behavior was fundamentally rational.
During the classical period of economics, microeconomics was closely linked to psychology. For example, Adam Smith wrote The Theory of Moral Sentiments, which proposed psychological explanations of individual behavior, including concerns about fairness and justice. Jeremy Bentham wrote extensively on the psychological underpinnings of utility. Then, during the development of neo-classical economics, economists sought to reshape the discipline as a natural science, deducing behavior from assumptions about the nature of economic agents. They developed the concept of homo economicus, whose behavior was fundamentally rational.
在古典经济学时期，微观经济学与心理学有着密切的联系。例如，亚当斯密写的《道德情操论，提出了个人行为的心理学解释，包括对公平和正义的关注。杰里米 · 边沁写了大量关于效用的心理学基础的文章。然后，在新古典经济学的发展过程中，经济学家试图将该学科重塑为一门自然科学，通过对经济行为主体性质的假设来推断行为。他们提出了经济人的概念，他们的行为基本上是理性的。
Neo-classical economists did incorporate psychological explanations: this was true of [[Francis Edgeworth]], [[Vilfredo Pareto]] and [[Irving Fisher]]. '''Economic psychology''' emerged in the 20th century in the works of [[Gabriel Tarde]],<ref>{{cite web |last=Tarde |first=G. |url = http://classiques.uqac.ca/classiques/tarde_gabriel/psycho_economique_t1/psycho_eco_t1.html |title=Psychologie économique |year=1902 |language = French}}</ref> [[George Katona]],<ref name="Katona2011">{{cite book|first=George |last=Katona|title=The Powerful Consumer: Psychological Studies of the American Economy|url={{google books |plainurl=y |id=jmdEywAACAAJ}}|year= 2011|publisher=Literary Licensing, LLC|isbn=978-1-258-21844-7}}</ref> and [[Laszlo Garai]].<ref name="Garai" /> [[Expected utility]] and [[discounted utility]] models began to gain acceptance, generating testable [[hypotheses]] about decision-making given [[uncertainty]] and [[intertemporal consumption]], respectively. Observed and repeatable anomalies eventually challenged those hypotheses, and further steps were taken by [[Maurice Allais]], for example, in setting out the [[Allais paradox]], a decision problem he first presented in 1953 that contradicts the expected utility hypothesis.
Neo-classical economists did incorporate psychological explanations: this was true of Francis Edgeworth, Vilfredo Pareto and Irving Fisher. Economic psychology emerged in the 20th century in the works of Gabriel Tarde, George Katona, and Laszlo Garai. Expected utility and discounted utility models began to gain acceptance, generating testable hypotheses about decision-making given uncertainty and intertemporal consumption, respectively. Observed and repeatable anomalies eventually challenged those hypotheses, and further steps were taken by Maurice Allais, for example, in setting out the Allais paradox, a decision problem he first presented in 1953 that contradicts the expected utility hypothesis.
新古典主义经济学家的确纳入了心理学的解释: 弗朗西斯•埃奇沃思(Francis Edgeworth)、维尔弗雷多•帕累托(Vilfredo Pareto)和欧文•费雪(Irving Fisher)就是如此。经济心理学出现在20世纪的加布里埃尔 · 塔尔德，乔治 · 卡托纳和拉斯洛 · 加莱的著作中。期望效用模型和贴现效用模型开始被接受，分别产生了关于不确定性和跨期消费的决策可检验性假设。观察到的和可重复的异常最终挑战了这些假说，并采取了进一步的步骤，例如，在设定阿莱悖论，一个决策问题，他第一次提出在1953年，反对预期效用假说。
In the 1960s [[cognitive psychology]] began to shed more light on the brain as an information processing device (in contrast to [[behaviorism|behaviorist]] models). Psychologists in this field, such as Ward Edwards,<ref name=ward>{{cite web|title=Ward Edward Papers|publisher=Archival Collections|url=http://www.usc.edu/libraries/archives/arc/libraries/collections/records/427home.html|accessdate=2008-04-25|archiveurl=https://web.archive.org/web/20080416235453/http://www.usc.edu/libraries/archives/arc/libraries/collections/records/427home.html|archivedate=2008-04-16|url-status=dead}}</ref> [[Amos Tversky]] and [[Daniel Kahneman]] began to compare their cognitive models of decision-making under risk and uncertainty to economic models of rational behavior. [[Mathematical psychology]] reflects a longstanding interest in preference transitivity and the measurement of utility.{{sfn|Luce|2000}}
In the 1960s cognitive psychology began to shed more light on the brain as an information processing device (in contrast to behaviorist models). Psychologists in this field, such as Ward Edwards, Amos Tversky and Daniel Kahneman began to compare their cognitive models of decision-making under risk and uncertainty to economic models of rational behavior. Mathematical psychology reflects a longstanding interest in preference transitivity and the measurement of utility.
在20世纪60年代，认知心理学开始将大脑作为一种信息处理设备(与行为主义模型形成对比)给予更多的关注。这一领域的心理学家，如沃德 · 爱德华兹、阿莫斯 · 特沃斯基和丹尼尔 · 卡尼曼，开始将他们对风险和不确定性下决策的认知模型与理性行为的经济模型进行比较。数学心理学反映了人们对偏好传递性和效用度量的长期兴趣。
=== Bounded rationality ===
[[File:Herbert simon red complete.jpg|thumb|left|140px|[[Herbert A. Simon]], winner of the 1975 Turing award and the 1978 Nobel Prize in economics]]
[[Herbert A. Simon, winner of the 1975 Turing award and the 1978 Nobel Prize in economics]]
[赫伯特·西蒙，1975年图灵奖和1978年诺贝尔经济学奖得主]
[[Bounded rationality]] is the idea that when individuals make decisions, their [[rationality]] is limited by the tractability of the decision problem, their cognitive limitations and the time available. Decision-makers in this view act as [[satisficer]]s, seeking a satisfactory solution rather than an optimal one. [[Herbert A. Simon]] proposed bounded rationality as an alternative basis for the mathematical modeling of [[decision-making]]. It complements "rationality as optimization", which views decision-making as a fully rational process of finding an optimal choice given the information available.<ref name=bounded_rationality_1999>{{cite book|url={{google books |plainurl=y |id=dVMq5UoYS3YC}} |first=Gerd|last=Gigerenzer|first2=Reinhard|last2=Selten|title=Bounded Rationality: The Adaptive Toolbox|publisher=MIT Press|year=2002|isbn=978-0-262-57164-7}}</ref> Simon used the analogy of a pair of scissors, where one blade represents human cognitive limitations and the other the "structures of the environment", illustrating how minds compensate for limited resources by exploiting known structural regularity in the environment.<ref name=bounded_rationality_1999/>
Bounded rationality is the idea that when individuals make decisions, their rationality is limited by the tractability of the decision problem, their cognitive limitations and the time available. Decision-makers in this view act as satisficers, seeking a satisfactory solution rather than an optimal one. Herbert A. Simon proposed bounded rationality as an alternative basis for the mathematical modeling of decision-making. It complements "rationality as optimization", which views decision-making as a fully rational process of finding an optimal choice given the information available. Simon used the analogy of a pair of scissors, where one blade represents human cognitive limitations and the other the "structures of the environment", illustrating how minds compensate for limited resources by exploiting known structural regularity in the environment.
有限理性是这样一种观点，即当个体做出决策时，他们的理性受到决策问题的可处理性、他们的认知局限性和可用时间的限制。这种观点认为，决策者作为满足者，寻求一个令人满意的解决方案，而不是最佳的解决方案。赫伯特·西蒙提出用有限理性作为决策数学模型的替代基础。它补充了“理性即优化”的观点，这种观点认为，决策是一个完全理性的过程，找到一个最佳的选择给予信息。西蒙用一把剪刀的比喻，一把刀片代表人类认知的局限性，而另一把刀片代表”环境的结构” ，说明人类如何通过利用已知的环境结构规律来补偿有限的资源。
Bounded rationality implicates the idea that humans take shortcuts that may lead to suboptimal decision-making. Behavioral economists engage in mapping the decision shortcuts that agents use in order to help increase the effectiveness of human decision-making. One treatment of this idea comes from [[Cass Sunstein]] and [[Richard Thaler]]'s ''[[Nudge (book)|Nudge]]''.<ref name =nudge>{{cite book|title=Nudge: Improving Decisions about Health, Wealth, and Happiness|isbn=978-0-14-311526-7|oclc=791403664|date=April 8, 2008|publisher=Yale University Press|authors=Thaler, Richard H., Sunstein, Cass R.|title-link=Nudge (book)}}</ref><ref>{{cite book|title=Choice Architecture|authors=Thaler, Richard H., Sunstein, Cass R. and Balz, John P.|doi=10.2139/ssrn.1583509|ssrn=1583509|date=April 2, 2010}}</ref> Sunstein and Thaler recommend that choice architectures are modified in light of human agents' bounded rationality. A widely cited proposal from Sunstein and Thaler urges that healthier food be placed at sight level in order to increase the likelihood that a person will opt for that choice instead of less healthy option. Some critics of ''Nudge'' have lodged attacks that modifying choice architectures will lead to people becoming worse decision-makers.<ref>{{cite web|last1=Wright|first1=Joshua|first2=Douglas|last2=Ginsberg|title=Free to Err?: Behavioral Law and Economics and its Implications for Liberty|url=http://www.libertylawsite.org/liberty-forum/free-to-err-behavioral-law-and-economics-and-its-implications-for-liberty/|date=February 16, 2012|work=Library of Law & Liberty}}</ref><ref>{{cite book|last1=Sunstein|first1=Cass|title=Going to Extremes: How Like Minds Unite and Divide|url={{google books |plainurl=y |id=jEWplxVkEEEC}}|isbn = 9780199793143|publisher = Oxford University Press |date =2009 }}</ref>
Bounded rationality implicates the idea that humans take shortcuts that may lead to suboptimal decision-making. Behavioral economists engage in mapping the decision shortcuts that agents use in order to help increase the effectiveness of human decision-making. One treatment of this idea comes from Cass Sunstein and Richard Thaler's Nudge. Sunstein and Thaler recommend that choice architectures are modified in light of human agents' bounded rationality. A widely cited proposal from Sunstein and Thaler urges that healthier food be placed at sight level in order to increase the likelihood that a person will opt for that choice instead of less healthy option. Some critics of Nudge have lodged attacks that modifying choice architectures will lead to people becoming worse decision-makers.
有限理性暗示人类走捷径可能导致次优决策的想法。行为经济学家从事绘制决策捷径，代理人使用，以帮助提高人类决策的有效性。卡斯 · 桑斯坦和理查德 · 塞勒对这个观点的一个论述来自《轻推》。和 Thaler 建议，选择的结构应该根据人类代理人的有限理性进行修改。桑斯坦和泰勒提出的一个被广泛引用的建议是，为了增加人们选择健康食品而不是不健康食品的可能性，应该把健康食品放在视线范围内。一些对 Nudge 持批评态度的人指出，修改选择架构将导致人们成为更糟糕的决策者。
=== Prospect theory ===
[[File:Daniel KAHNEMAN.jpg|thumb|200px|[[Daniel Kahneman]], winner of the 2002 Nobel Prize in economics]]
[[Daniel Kahneman, winner of the 2002 Nobel Prize in economics]]
[丹尼尔 · 卡尼曼，2002年诺贝尔经济学奖得主]
In 1979, Kahneman and Tversky published ''[[prospect theory|Prospect Theory]]: An Analysis of Decision Under Risk'', that used cognitive psychology to explain various divergences of economic decision making from neo-classical theory.{{sfn|Kahneman|Diener|2003}} Prospect theory has two stages: an editing stage and an evaluation stage.
In 1979, Kahneman and Tversky published Prospect Theory: An Analysis of Decision Under Risk, that used cognitive psychology to explain various divergences of economic decision making from neo-classical theory. Prospect theory has two stages: an editing stage and an evaluation stage.
1979年，卡尼曼和特沃斯基发表了《前景理论: 风险下的决策分析》一书，该书利用认知心理学解释了新古典主义经济决策理论中的各种分歧。前景理论分为两个阶段: 编辑阶段和评估阶段。
In the editing stage, risky situations are simplified using various [[heuristic]]s. In the evaluation phase, risky alternatives are evaluated using various psychological principles that include:
In the editing stage, risky situations are simplified using various heuristics. In the evaluation phase, risky alternatives are evaluated using various psychological principles that include:
在编辑阶段，使用各种启发式方法简化风险情况。在评估阶段，利用各种心理学原则对风险替代办法进行评估，其中包括:
*[[Reference dependence]]: When evaluating outcomes, the decision maker considers a "reference level." Outcomes are then compared to the reference point and classified as "gains" if greater than the reference point and "losses" if less than the reference point.
* [[Loss aversion]]: Losses are avoided more than equivalent gains are sought. In their 1992 paper, Kahneman and Tversky found the median coefficient of loss aversion to be about 2.25, i.e., losses hurt about 2.25 times more than equivalent gains reward.<ref name="TverskyKahneman1992">{{cite journal|first1=Amos |last1=Tversky |first2=Daniel |last2=Kahneman |year=1992 |title=Advances in Prospect Theory: Cumulative Representation of Uncertaintly |journal=Journal of Risk and Uncertainty |volume=5 |issue=4 | pages=297–323|issn=0895-5646|doi=10.1007/BF00122574}}[https://link.springer.com/article/10.1007/BF00122574 Abstract.]</ref>
* Non-linear probability weighting: Decision makers overweigh small probabilities and underweigh large probabilities—this gives rise to the inverse-S shaped "probability weighting function."
* Diminishing sensitivity to gains and losses: As the size of the gains and losses relative to the reference point increase in absolute value, the [[marginal utility|marginal]] effect on the decision maker's utility or satisfaction falls.
Prospect theory is able to explain everything that the two main existing decision theories—[[Expected utility hypothesis|expected utility theory]] and [[Rank-dependent expected utility|rank dependent utility]] theory—can explain. Further, prospect theory has been used to explain phenomena that existing decision theories have great difficulty in explaining. These include [[Backward bending supply curve of labour|backward bending labor supply curves]], asymmetric price elasticities, [[tax evasion]] and co-movement of stock prices and consumption.
Prospect theory is able to explain everything that the two main existing decision theories—expected utility theory and rank dependent utility theory—can explain. Further, prospect theory has been used to explain phenomena that existing decision theories have great difficulty in explaining. These include backward bending labor supply curves, asymmetric price elasticities, tax evasion and co-movement of stock prices and consumption.
前景理论能够解释现有的两个主要决策理论——期望效用理论和依赖秩序效用理论——所能解释的一切。此外，前景理论被用来解释现有决策理论难以解释的现象。这些因素包括向后弯曲劳动力供给曲线、不对称的价格弹性、逃税以及股票价格和消费的共同运动。
In 1992, in the ''Journal of Risk and Uncertainty'', Kahneman and Tversky gave a revised account of prospect theory that they called [[cumulative prospect theory]].<ref name="TverskyKahneman1992" /> The new theory eliminated the editing phase in prospect theory and focused just on the evaluation phase. Its main feature was that it allowed for non-linear probability weighting in a cumulative manner, which was originally suggested in [[John Quiggin]]'s rank-dependent utility theory.
In 1992, in the Journal of Risk and Uncertainty, Kahneman and Tversky gave a revised account of prospect theory that they called cumulative prospect theory. The new theory eliminated the editing phase in prospect theory and focused just on the evaluation phase. Its main feature was that it allowed for non-linear probability weighting in a cumulative manner, which was originally suggested in John Quiggin's rank-dependent utility theory.
1992年，在《风险与不确定性》杂志上，Kahneman 和 Tversky 对前景理论进行了修正，他们称之为累积前景理论。新理论消除了前景理论中的编辑阶段，只注重评价阶段。它的主要特点是允许以累积的方式进行非线性概率加权，这最初是在约翰 · 奎金的排序依赖效用理论中提出的。
Psychological traits such as [[Overconfidence effect|overconfidence]], [[Affective forecasting#Projection bias|projection bias]], and the effects of limited attention are now part of the theory. Other developments include a conference at the [[University of Chicago]],{{sfn|Hogarth|Reder|1987}} a special behavioral economics edition of the ''[[Quarterly Journal of Economics]]'' ("In Memory of Amos Tversky"), and Kahneman's 2002 Nobel Prize for having "integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty."<ref name=kahneman>{{cite web|title=Nobel Laureates 2002|publisher=Nobelprize.org|url=http://nobelprize.org/nobel_prizes/lists/2002.html|accessdate=2008-04-25|archiveurl=https://web.archive.org/web/20080410071445/http://nobelprize.org/nobel_prizes/lists/2002.html|archivedate=10 April 2008 |url-status=live}}</ref>
Psychological traits such as overconfidence, projection bias, and the effects of limited attention are now part of the theory. Other developments include a conference at the University of Chicago, a special behavioral economics edition of the Quarterly Journal of Economics ("In Memory of Amos Tversky"), and Kahneman's 2002 Nobel Prize for having "integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty."
过度自信、投射偏见和有限注意力的影响等心理特征现在已经成为这个理论的一部分。其他进展包括在芝加哥大学举行的一次会议、《经济学季刊》(Quarterly Journal of Economics)的行为经济学特刊(《纪念阿莫斯 · 特沃斯基》[ In Memory of Amos Tversky ]) ，以及卡尼曼2002年获得的诺贝尔奖，因为他“将心理学研究的见解整合到经济科学中，特别是关于不确定条件下的人类判断和决策”
=== Intertemporal choice ===
{{See also|Dynamic inconsistency}}
[[File:David_laibson_2007.jpg|thumb|left|140px|[[David Laibson]], professor of economics at [[Harvard University]]]]
[[David Laibson, professor of economics at Harvard University]]
[哈佛大学经济学教授大卫 · 莱布森]
Behavioral economics has been applied to intertemporal choice, which is defined as making a decision and having the effects of such decision happening in a different time. Intertemporal choice behavior is largely inconsistent, as exemplified by [[George Ainslie (psychologist)|George Ainslie]]'s [[hyperbolic discounting]]—one of the prominently studied observations—and further developed by [[David Laibson]], Ted O'Donoghue and [[Matthew Rabin]]. Hyperbolic discounting describes the tendency to discount outcomes in the near future more than outcomes in the far future. This pattern of discounting is dynamically inconsistent (or time-inconsistent), and therefore inconsistent with basic models of rational choice, since the rate of discount between time ''t'' and ''t+1'' will be low at time ''t-1'' when ''t'' is the near future, but high at time ''t'' when ''t'' is the present and time ''t+1'' is the near future.
Behavioral economics has been applied to intertemporal choice, which is defined as making a decision and having the effects of such decision happening in a different time. Intertemporal choice behavior is largely inconsistent, as exemplified by George Ainslie's hyperbolic discounting—one of the prominently studied observations—and further developed by David Laibson, Ted O'Donoghue and Matthew Rabin. Hyperbolic discounting describes the tendency to discount outcomes in the near future more than outcomes in the far future. This pattern of discounting is dynamically inconsistent (or time-inconsistent), and therefore inconsistent with basic models of rational choice, since the rate of discount between time t and t+1 will be low at time t-1 when t is the near future, but high at time t when t is the present and time t+1 is the near future.
行为经济学已经被应用到跨期选择中，跨期选择被定义为在不同的时间做出决策并产生不同的决策效果。跨期选择行为在很大程度上是不一致的，乔治 · 安斯利的双曲贴现就是一个很好的例子，大卫 · 莱布森、泰德 · 奥多诺霍和马修 · 拉宾进一步发展了这种行为。双曲折现描述了一种倾向，即在不久的将来，对结果的贴现要多于对遥远未来的结果的贴现。这种贴现模式在动态上是不一致的(或者说是时间不一致的) ，因此与理性选择的基本模型不一致，因为时间 t 和 t + 1之间的贴现率在时间 t 为近期的 t-1时低，而在时间 t 为现在的 t 时高，时间 t 为近期的 t + 1时高。
This pattern can also be explained through models of sub-additive discounting that distinguish the delay and interval of discounting: people are less patient (per-time-unit) over shorter intervals regardless of when they occur.
This pattern can also be explained through models of sub-additive discounting that distinguish the delay and interval of discounting: people are less patient (per-time-unit) over shorter intervals regardless of when they occur.
这种模式也可以通过子加法贴现模型来解释，这种模型区分了贴现的延迟和贴现时间间隔: 无论贴现时间何时发生，人们在较短的贴现时间间隔内都缺乏耐心。
=== Other areas of research ===
Other branches of behavioral economics enrich the model of the utility function without implying inconsistency in preferences. [[Ernst Fehr]], [[Armin Falk]], and Rabin studied [[distributive justice|fairness]], [[inequity aversion]] and [[reciprocal altruism]], weakening the neoclassical assumption of perfect [[selfishness]]. This work is particularly applicable to wage setting. The work on "intrinsic motivation by [[Uri Gneezy|Gneezy]] and Rustichini and "identity" by [[George Akerlof|Akerlof]] and [[Rachel Kranton|Kranton]] assumes that agents derive utility from adopting personal and social norms in addition to conditional expected utility. According to Aggarwal, in addition to behavioral deviations from rational equilibrium, markets are also likely to suffer from lagged responses, search costs, externalities of the commons, and other frictions making it difficult to disentangle behavioral effects in market behavior.<ref>{{cite journal|last1=Aggarwal|first1=Raj|title=Animal Spirits in Financial Economics: A Review of Deviations from Economic Rationality|journal=International Review of Financial Analysis|date=2014|volume=32|issue=1|pages=179–87|doi=10.1016/j.irfa.2013.07.018}}</ref>
Other branches of behavioral economics enrich the model of the utility function without implying inconsistency in preferences. Ernst Fehr, Armin Falk, and Rabin studied fairness, inequity aversion and reciprocal altruism, weakening the neoclassical assumption of perfect selfishness. This work is particularly applicable to wage setting. The work on "intrinsic motivation by Gneezy and Rustichini and "identity" by Akerlof and Kranton assumes that agents derive utility from adopting personal and social norms in addition to conditional expected utility. According to Aggarwal, in addition to behavioral deviations from rational equilibrium, markets are also likely to suffer from lagged responses, search costs, externalities of the commons, and other frictions making it difficult to disentangle behavioral effects in market behavior.
行为经济学的其他分支丰富了效用函数模型，但没有暗示偏好的不一致性。恩斯特 · 费尔、阿明 · 福尔克和拉宾研究了公平、不平等厌恶和互利主义，削弱了新古典主义的完美自私假设。这项工作特别适用于确定工资。Gneezy 和 Rustichini 关于“内在动机”的著作和 Akerlof 和 Kranton 关于“身份”的著作都假定，除了有条件的期望效用外，个人和社会规范的采用也会产生效用。根据阿加沃尔的观点，除了行为偏离理性均衡，市场还可能遭受滞后反应，搜索成本，公地的外部性，以及其他摩擦，使其难以区分行为效应的市场行为。
"Conditional expected utility" is a form of reasoning where the individual has an [[illusion of control]], and calculates the probabilities of external events and hence their utility as a function of their own action, even when they have no causal ability to affect those external events.<ref>{{cite journal|doi=10.2307/3791450|author=Grafstein R|title=Rationality as Conditional Expected Utility Maximization|journal=Political Psychology|volume=16|issue=1|pages=63–80|year=1995|jstor=3791450}}</ref><ref>{{cite journal|doi=10.1016/0010-0285(92)90015-T|author=Shafir E, Tversky A|title=Thinking through uncertainty: nonconsequential reasoning and choice|journal=Cognitive Psychology|volume=24|issue=4|pages=449–74|year=1992|pmid=1473331 }}</ref>
"Conditional expected utility" is a form of reasoning where the individual has an illusion of control, and calculates the probabilities of external events and hence their utility as a function of their own action, even when they have no causal ability to affect those external events.
“条件期望效用”是一种推理形式，在这种情况下，个人拥有一个控制的错觉，并计算外部事件的概率，因此它们的效用作为他们自己行为的函数，即使他们没有因果能力来影响那些外部事件。
Behavioral economics caught on among the general public with the success of books such as [[Dan Ariely]]'s ''[[Predictably Irrational]].'' Practitioners of the discipline have studied quasi-public policy topics such as [[Broadband mapping in the United States|broadband mapping]].<ref name=twsA2faa4>{{cite web|title=US National Broadband Plan: good in theory|publisher=Telco 2.0|quote=... Sara Wedeman's awful experience with this is instructive....|date=March 17, 2010|url=http://www.telco2.net/blog/2010/03/us_national_broadband_plan_qui.html|accessdate=2010-09-23}}</ref><ref name=twsA2xx>{{cite news|first1=Gordon |last1=Cook |first2=Sara |last2=Wedeman|title=Connectivity, the Five Freedoms, and Prosperity|publisher=Community Broadband Networks|date=July 1, 2009|url=http://www.muninetworks.org/reports/cook-report-broadband-mapping-connectivity-five-freedoms-and-prosperity|accessdate=2010-09-23}}</ref>
Behavioral economics caught on among the general public with the success of books such as Dan Ariely's Predictably Irrational. Practitioners of the discipline have studied quasi-public policy topics such as broadband mapping.
行为经济学因 Dan Ariely 的《怪诞行为学成功而在普通大众中流行起来。该学科的从业人员研究了宽带制图等准公共政策专题。
Applications for behavioral economics include the modeling of the consumer decision-making process for applications in [[artificial intelligence]] and [[machine learning]]. The Silicon Valley-based start-up Singularities is using the [[AGM postulates]] proposed by Alchourrón, Gärdenfors, and Makinson—the formalization of the concepts of beliefs and change for rational entities—in a [[symbolic logic]] to create a "machine learning and deduction engine that uses the latest [[data science]] and [[big data]] algorithms in order to generate the content and conditional rules (counterfactuals) that capture customer's behaviors and beliefs."<ref>{{cite web|title=Singluarities Our Company|publisher=Singular Me, LLC|quote=... machine learning and deduction engine that uses the latest data science and big data algorithms in order to generate the content and conditional rules (counterfactuals) that capture customer's behaviors and beliefs....|date=2017|url=https://www.singularities.com/our-company|accessdate=2017-07-12|archive-url=https://web.archive.org/web/20171112074640/https://www.singularities.com/our-company|archive-date=2017-11-12|url-status=dead}}</ref>
Applications for behavioral economics include the modeling of the consumer decision-making process for applications in artificial intelligence and machine learning. The Silicon Valley-based start-up Singularities is using the AGM postulates proposed by Alchourrón, Gärdenfors, and Makinson—the formalization of the concepts of beliefs and change for rational entities—in a symbolic logic to create a "machine learning and deduction engine that uses the latest data science and big data algorithms in order to generate the content and conditional rules (counterfactuals) that capture customer's behaviors and beliefs."
行为经济学的应用包括在人工智能和机器学习中应用的消费者决策过程建模。Silicon Valley-based 创业公司 singularis 正在使用 alchourr n，g rdenfors 和 makinson 提出的 AGM 假设，即理性实体的信念和变化概念的形式化，在符号逻辑中创建一个“机器学习和演绎引擎，使用最新的数据科学和大数据算法，以生成内容和条件规则(反事实) ，捕捉客户的行为和信念。”
Applications of behavioral economics also exist in other disciplines, for example in the area of supply chain management.<ref>{{cite journal | last1 = Schorsch | first1 = Timm | last2 = Marcus Wallenburg | first2 = Carl | last3 = Wieland | first3 = Andreas | year = 2017 | title = The human factor in SCM: Introducing a meta-theory of behavioral supply chain management | url = | journal = International Journal of Physical Distribution & Logistics Management | volume = 47 | issue = | pages = 238–262 | doi = 10.1108/IJPDLM-10-2015-0268 }}</ref>
Applications of behavioral economics also exist in other disciplines, for example in the area of supply chain management.
行为经济学的应用也存在于其他学科，例如供应链管理领域。
=== Natural experiments ===
From a biological point of view, human behaviors are essentially the same during crises accompanied by stock market crashes and during bubble growth when share prices exceed historic highs. During those periods, most market participants see something new for themselves, and this inevitably induces a stress response in them with accompanying changes in their endocrine profiles and motivations. The result is quantitative and qualitative changes in behavior. This is one example where behavior affecting economics and finance can be observed and variably-contrasted using behavioral economics.
From a biological point of view, human behaviors are essentially the same during crises accompanied by stock market crashes and during bubble growth when share prices exceed historic highs. During those periods, most market participants see something new for themselves, and this inevitably induces a stress response in them with accompanying changes in their endocrine profiles and motivations. The result is quantitative and qualitative changes in behavior. This is one example where behavior affecting economics and finance can be observed and variably-contrasted using behavioral economics.
从生物学的角度来看，人类的行为在伴随着股市崩溃的危机期间和股价超过历史高点的泡沫增长期间本质上是相同的。在这些时期，大多数市场参与者看到了自己的新东西，这不可避免地引发了他们的压力反应，伴随着他们的内分泌状况和动机的变化。其结果是行为的定量和定性变化。这是一个例子，其中的行为影响经济学和金融可以观察和不同的对比，使用行为经济学。
Behavioral economics' usefulness applies beyond environments similar to stock exchanges. Selfish-reasoning, 'adult behaviors', and similar, can be identified within criminal-concealment(s), and legal-deficiencies and neglect of different types can be observed and discovered. Awareness of indirect consequence (or lack of), at least in potential with different experimental models and methods, can be used as well—behavioral economics' potential uses are broad, but its reliability needs scrutiny. Underestimation of the role of novelty as a stressor is the primary shortcoming of current approaches for market research. It is necessary to account for the biologically determined diphasisms of human behavior in everyday low-stress conditions and in response to stressors.<ref name="Sarapultsev, A. 2014" /> Limitations of experimental methods (e.g. randomized control trials) and their use in economics were famously analyzed by Angus Deaton.<ref>{{cite web |last1=Blattman |first1=Christopher |title=Why Angus Deaton Deserved the Nobel Prize in Economics |url=https://foreignpolicy.com/2015/10/12/why-angus-deaton-deserved-the-nobel-prize-in-economics/ |website=Foreign Policy |accessdate=18 February 2020}}</ref>
Behavioral economics' usefulness applies beyond environments similar to stock exchanges. Selfish-reasoning, 'adult behaviors', and similar, can be identified within criminal-concealment(s), and legal-deficiencies and neglect of different types can be observed and discovered. Awareness of indirect consequence (or lack of), at least in potential with different experimental models and methods, can be used as well—behavioral economics' potential uses are broad, but its reliability needs scrutiny. Underestimation of the role of novelty as a stressor is the primary shortcoming of current approaches for market research. It is necessary to account for the biologically determined diphasisms of human behavior in everyday low-stress conditions and in response to stressors.
行为经济学的有用性不仅适用于类似于证券交易所的环境。自私推理、“成人行为”等类似的犯罪隐瞒行为可以在犯罪隐瞒行为中被识别出来，不同类型的法律缺陷和疏忽也可以被观察和发现。对间接后果(或缺乏)的认识，至少在不同实验模型和方法的潜力方面，也可以被利用ーー行为经济学的潜在用途是广泛的，但其可靠性需要审查。低估新颖性作为一种压力源的作用是目前市场研究方法的主要缺点。有必要说明在日常低应激条件下和应对应激源时人类行为的生物学决定的双相性。
== Criticism ==
Critics of behavioral economics typically stress the [[rationality]] of economic agents.<ref>{{cite journal |last1= Myagkov |last2= Plott |year=1997 |title=Exchange Economies and Loss Exposure: Experiments Exploring Prospect Theory and Competitive Equilibria in Market Environments |url=http://authors.library.caltech.edu/43961/1/exchange%20economies%20and%20loss%20exposure.pdf}}</ref> A fundamental critique is provided by Maialeh (2019) who argues that no behavioral research can establish an economic theory. Examples provided on this account include pillars of behavioral economics such as satisficing behavior or prospect theory, which are confronted from the neoclassical perspective of utility maximization and expected utility theory respectively. The author shows that behavioral findings are hardly generalizable and that they do not disprove typical mainstream axioms related to rational behavior.<ref>{{cite journal |last1=Maialeh |first1=Robin |title=Generalization of results and neoclassical rationality: unresolved controversies of behavioural economics methodology |journal=Quality & Quantity |date=2019 |volume=53 |issue=4 |pages=1743–1761 |doi=10.1007/s11135-019-00837-1 }}</ref>
Critics of behavioral economics typically stress the rationality of economic agents. A fundamental critique is provided by Maialeh (2019) who argues that no behavioral research can establish an economic theory. Examples provided on this account include pillars of behavioral economics such as satisficing behavior or prospect theory, which are confronted from the neoclassical perspective of utility maximization and expected utility theory respectively. The author shows that behavioral findings are hardly generalizable and that they do not disprove typical mainstream axioms related to rational behavior.
行为经济学的批评家通常强调经济行为主体的合理性。Maaialeh (2019)提供了一个基本的批评，他认为没有任何行为研究可以建立一个经济理论。这方面的例子包括行为经济学的支柱，如满意行为或前景理论，它们分别从新古典主义的角度来面对效用最大化和期望效用理论。作者指出，行为研究结果很难推广，而且它们不能否定与理性行为有关的典型主流公理。
Others note that cognitive theories, such as [[prospect theory]], are models of [[decision-making]], not generalized economic behavior, and are only applicable to the sort of once-off decision problems presented to experiment participants or survey respondents.{{citation needed|date=May 2010}} Others argue that decision-making models, such as the [[Endowment effect|endowment effect theory]], that have been widely accepted behavioral economists may be erroneously established as a consequence of poor experimental design practices that do not adequately control subject misconceptions.<ref name=":0" /><ref>{{Cite journal|last=Klass|first=Greg|last2=[[Kathryn Zeiler|Zeiler]]|first2=Kathryn|date=2013-01-01|title=Against Endowment Theory: Experimental Economics and Legal Scholarship|url=https://scholarship.law.bu.edu/faculty_scholarship/199|journal=UCLA Law Review|volume=61|issue=1|pages=2}}</ref><ref>{{Cite journal|last=[[Kathryn Zeiler|Zeiler]]|first=Kathryn|date=2011-01-01|title=The Willingness to Pay-Willingness to Accept Gap, the 'Endowment Effect,' Subject Misconceptions, and Experimental Procedures for Eliciting Valuations: Reply|url=https://scholarship.law.bu.edu/faculty_scholarship/521|journal=American Economic Review|volume=101|pages=1012}}</ref><ref>{{Cite journal|last=[[Kathryn Zeiler|Zeiler]]|first=Kathryn|date=2005-01-01|title=The Willingness to Pay-Willingness to Accept Gap, the 'Endowment Effect,' Subject Misconceptions, and Experimental Procedures for Eliciting Valuations|url=https://scholarship.law.bu.edu/faculty_scholarship/781|journal=American Economic Review|volume=95|pages=530}}</ref>
Others note that cognitive theories, such as prospect theory, are models of decision-making, not generalized economic behavior, and are only applicable to the sort of once-off decision problems presented to experiment participants or survey respondents. Others argue that decision-making models, such as the endowment effect theory, that have been widely accepted behavioral economists may be erroneously established as a consequence of poor experimental design practices that do not adequately control subject misconceptions.
其他人则指出，前景理论等认知理论是决策模型，而不是泛化的经济行为，它们只适用于向实验参与者或调查对象提出的一次性决策问题。其他人认为，决策模型，如禀赋效应理论，已被广泛接受的行为经济学家，可能被错误地建立为糟糕的实验设计实践的后果，没有充分控制受试者的错误概念。
A notable concern is that despite a great deal of rhetoric, no unified behavioral theory has yet been espoused: behavioral economists have proposed no unified theory.
A notable concern is that despite a great deal of rhetoric, no unified behavioral theory has yet been espoused: behavioral economists have proposed no unified theory.
一个值得关注的问题是，尽管有大量的修辞，还没有统一的行为理论得到支持: 行为经济学家没有提出统一的理论。
[[David Gal]] has argued that many of these issues stem from behavioral economics being too concerned with understanding ''how'' behavior deviates from standard economic models rather than with understanding ''why'' people behave the way they do. Understanding why behavior occurs is necessary for the creation of generalizable knowledge, the goal of [[science]]. He has referred to behavioral economics as a "triumph of marketing" and particularly cited the example of loss aversion.<ref>{{Cite news|url=https://www.nytimes.com/2018/10/06/opinion/sunday/behavioral-economics.html|title=Opinion {{!}} Why Is Behavioral Economics So Popular?|access-date=2018-11-16|language=en}}</ref>
David Gal has argued that many of these issues stem from behavioral economics being too concerned with understanding how behavior deviates from standard economic models rather than with understanding why people behave the way they do. Understanding why behavior occurs is necessary for the creation of generalizable knowledge, the goal of science. He has referred to behavioral economics as a "triumph of marketing" and particularly cited the example of loss aversion.
大卫 · 加尔认为，这些问题中的许多问题起源于行为经济学过于关注理解行为如何偏离标准经济模型，而不是理解人们为什么会这样做。理解行为发生的原因对于创造普遍化的知识是必要的，这也是科学的目标。他将行为经济学称为“市场营销的胜利” ，并特别提到了规避损失的例子。
Traditional economists are skeptical of the experimental and survey-based techniques that behavioral economics uses extensively. Economists typically stress [[revealed preference]]s over stated preferences (from surveys) in the determination of economic value. Experiments and surveys are at risk of [[systemic bias]]es, strategic behavior and lack of incentive compatibility.{{citation needed|date=May 2010}} Some researchers point out that participants of experiments conducted by behavioural economists are not representative enough and drawing broad conclusions on the basis of such experiments is not possible. An acronym WEIRD has been coined in order to describe the studies participants - as those, who come from Western, Educated, Industrialized, Rich, and Democratic societies.<ref>Joseph Henrich, Steven J. Heine, Ara Norenzayan, The weirdest people in the world?, „Behavioral and brain sciences”, 2010.</ref>
Traditional economists are skeptical of the experimental and survey-based techniques that behavioral economics uses extensively. Economists typically stress revealed preferences over stated preferences (from surveys) in the determination of economic value. Experiments and surveys are at risk of systemic biases, strategic behavior and lack of incentive compatibility. Some researchers point out that participants of experiments conducted by behavioural economists are not representative enough and drawing broad conclusions on the basis of such experiments is not possible. An acronym WEIRD has been coined in order to describe the studies participants - as those, who come from Western, Educated, Industrialized, Rich, and Democratic societies.
传统经济学家对行为经济学广泛使用的实验和调查技术持怀疑态度。经济学家通常强调，在决定经济价值时，他们偏好于(来自调查的)规定偏好。实验和调查存在系统偏差、战略行为和缺乏激励相容的风险。一些研究人员指出，行为经济学家进行的实验的参与者代表性不够，不可能在此类实验的基础上得出广泛的结论。为了描述这些研究的参与者——来自西方、受过教育、工业化、富裕和民主社会的人，人们创造了一个首字母缩写 WEIRD。
=== Responses ===
[[Matthew Rabin]]{{sfn|Rabin|1998|pp=11–46}} dismisses these criticisms, countering that consistent results typically are obtained in multiple situations and geographies and can produce good theoretical insight. Behavioral economists, however, responded to these criticisms by focusing on field studies rather than lab experiments. Some economists see a fundamental schism between [[experimental economics]] and behavioral economics, but prominent behavioral and experimental economists tend to share techniques and approaches in answering common questions. For example, behavioral economists are investigating [[neuroeconomics]], which is entirely experimental and has not been verified in the field.{{citation needed|date=May 2010}}
Matthew Rabin dismisses these criticisms, countering that consistent results typically are obtained in multiple situations and geographies and can produce good theoretical insight. Behavioral economists, however, responded to these criticisms by focusing on field studies rather than lab experiments. Some economists see a fundamental schism between experimental economics and behavioral economics, but prominent behavioral and experimental economists tend to share techniques and approaches in answering common questions. For example, behavioral economists are investigating neuroeconomics, which is entirely experimental and has not been verified in the field.
马修 · 拉宾驳斥了这些批评，反驳说一致的结果通常是在多种情况和地理环境下获得的，并且可以产生很好的理论洞察力。然而，行为经济学家对这些批评的回应是将重点放在实地研究而不是实验室实验上。一些经济学家认为实验经济学和行为经济学之间存在根本的分歧，但杰出的行为经济学家和实验经济学家倾向于分享回答常见问题的技巧和方法。例如，行为经济学家正在调查神经经济学，这是完全实验性的，尚未在该领域得到验证。
The epistemological, ontological, and methodological components of behavioral economics are increasingly debated, in particular by historians of economics and economic methodologists.<ref>{{Cite news|url=https://www.exploring-economics.org/en/orientation/behavioral-economics/|title=Behavioral Economics |website= Exploring Economics|access-date=|last1 = Kersting|first1 = Felix|last2= Obst|first2= Daniel|date = 10 April 2016|language=en}}</ref>
The epistemological, ontological, and methodological components of behavioral economics are increasingly debated, in particular by historians of economics and economic methodologists.
行为经济学的认识论、本体论和方法论组成部分日益受到争论，尤其是经济学史学家和经济方法论者。
According to some researchers,<ref name="Sarapultsev, A. 2014">{{cite journal|last1=Sarapultsev |first1=A. |last2= Sarapultsev |first2=P. |year=2014 |title=Novelty, Stress, and Biological Roots in Human Market Behavior |journal=Behavioral Sciences |volume=4 |issue=1 |pages=53–69 |doi=10.3390/bs4010053|pmid=25379268 |pmc=4219248 }}</ref> when studying the mechanisms that form the basis of decision-making, especially financial decision-making, it is necessary to recognize that most decisions are made under stress<ref>{{cite book|last=Zhukov |first=D.A. |title=Biologija Povedenija |work= Gumoral’nye Mehanizmy [Biology of Behavior. Humoral Mechanisms]; |publisher=Rech |location=St. Petersburg, Russia |year=2007}}</ref> because, "Stress is the nonspecific body response to any demands presented to it."<ref name="Selye2013">{{cite book|first=Hans|last=Selye |title=Stress in Health and Disease|url={{google books |plainurl=y |id=wrfYBAAAQBAJ}}|year= 2013|publisher=Elsevier Science|isbn=978-1-4831-9221-5}}</ref>
According to some researchers, when studying the mechanisms that form the basis of decision-making, especially financial decision-making, it is necessary to recognize that most decisions are made under stress because, "Stress is the nonspecific body response to any demands presented to it."
一些研究人员表示，在研究构成决策基础的机制，尤其是财务决策时，有必要认识到，大多数决策都是在压力下做出的，因为“压力是对提出的任何要求做出的非特定的身体反应。”
== Applied issues ==
=== Nudge theory ===
{{Main|Nudge theory}}
[[File:Richard Thaler Chatham.jpg|thumb|140px|[[Richard Thaler]], winner of the 2017 Nobel Prize in economics]]
[[Richard Thaler, winner of the 2017 Nobel Prize in economics]]
[理查德 · 泰勒，2017年诺贝尔经济学奖得主]
'''Nudge''' is a concept in [[behavioral science]], [[political theory]] and [[economics]] which proposes [[positive reinforcement]] and indirect suggestions as ways to [[Social influence|influence]] the behavior and [[decision making]] of groups or individuals. Nudging contrasts with other ways to achieve compliance, such as [[education]], [[legislation]] or [[enforcement]]. The concept has influenced British and American politicians. Several nudge units exist around the world at the national level (UK, Germany, Japan and others) as well as at the international level (OECD, World Bank, UN).
Nudge is a concept in behavioral science, political theory and economics which proposes positive reinforcement and indirect suggestions as ways to influence the behavior and decision making of groups or individuals. Nudging contrasts with other ways to achieve compliance, such as education, legislation or enforcement. The concept has influenced British and American politicians. Several nudge units exist around the world at the national level (UK, Germany, Japan and others) as well as at the international level (OECD, World Bank, UN).
轻推是行为科学、政治理论和经济学中的一个概念，它提出正强化和间接暗示作为影响群体或个体行为和决策的方式。轻推与其他实现合规的方式形成了鲜明对比，比如教育、立法或执法。这个概念影响了英国和美国的政治家。在国家层面(英国、德国、日本和其他国家)以及国际层面(经合组织、世界银行、联合国) ，世界各地都存在一些推动单位。
The first formulation of the term and associated principles was developed in [[cybernetics]] by James Wilk before 1995 and described by Brunel University academic D. J. Stewart as "the art of the nudge" (sometimes referred to as micronudges<ref>{{citation | author=Wilk, J. | year=1999 | chapter=Mind, nature and the emerging science of change: An introduction to metamorphology. | editor1=G. Cornelis|editor2=S. Smets|editor2-link= Sonja Smets |editor3=J. Van Bendegem | title=EINSTEIN MEETS MAGRITTE: An Interdisciplinary Reflection on Science, Nature, Art, Human Action and Society: Metadebates on science | volume=6 | pages=71–87 | publisher=Springer Netherlands | doi=10.1007/978-94-017-2245-2_6| isbn=978-90-481-5242-1 }}</ref>). It also drew on methodological influences from clinical [[psychotherapy]] tracing back to [[Gregory Bateson]], including contributions from [[Milton Erickson]], [[Paul Watzlawick|Watzlawick]], [[John Weakland|Weakland]] and Fisch, and [[Bill O'Hanlon]].<ref>{{citation | author1=O'Hanlon, B.|author2=Wilk, J. | year=1987 | title=Shifting contexts : The generation of effective psychotherapy. | publisher=New York, N.Y.: Guilford Press.}}</ref> In this variant, the nudge is a microtargetted design geared towards a specific group of people, irrespective of the scale of intended intervention.
The first formulation of the term and associated principles was developed in cybernetics by James Wilk before 1995 and described by Brunel University academic D. J. Stewart as "the art of the nudge" (sometimes referred to as micronudges). It also drew on methodological influences from clinical psychotherapy tracing back to Gregory Bateson, including contributions from Milton Erickson, Watzlawick, Weakland and Fisch, and Bill O'Hanlon. In this variant, the nudge is a microtargetted design geared towards a specific group of people, irrespective of the scale of intended intervention.
1995年以前，James Wilk 在控制论中首次提出了这一术语和相关原则的表述，Brunel 大学的学者 D.j. Stewart 称之为”推动的艺术”(有时称为”微推”)。它还借鉴了方法论的影响，从临床心理治疗追溯到格里高利 · 贝特森，包括弥尔顿 · 埃里克森，Watzlawick，威克兰和菲施，和比尔 · 欧汉伦的贡献。在这个变体中，轻推是一个针对特定人群的微观目标设计，不考虑预期干预的规模。
In 2008, [[Richard Thaler]] and [[Cass Sunstein]]'s book ''[[Nudge (book)|Nudge: Improving Decisions About Health, Wealth, and Happiness]]'' brought nudge theory to prominence. It also gained a following among US and UK politicians, in the private sector and in public health.<ref>See: [http://www.shponline.co.uk/features-content/full/cpd-article-nudge-nudge-think-think Dr. Jennifer Lunt and Malcolm Staves] {{Webarchive|url=https://web.archive.org/web/20120430212840/http://www.shponline.co.uk/features-content/full/cpd-article-nudge-nudge-think-think |date=2012-04-30 }}</ref> The authors refer to influencing behaviour without coercion as [[libertarian paternalism]] and the influencers as choice architects.<ref name=speak /> Thaler and Sunstein defined their concept as:
In 2008, Richard Thaler and Cass Sunstein's book Nudge: Improving Decisions About Health, Wealth, and Happiness brought nudge theory to prominence. It also gained a following among US and UK politicians, in the private sector and in public health. The authors refer to influencing behaviour without coercion as libertarian paternalism and the influencers as choice architects. Thaler and Sunstein defined their concept as:
2008年，理查德 · 泰勒和卡斯 · 桑斯坦的书《推动: 改善关于健康、财富和幸福的决定》使推动理论得到了重视。它还在美国和英国的政界人士、私营部门和公共卫生领域赢得了追随者。两位作者将在没有强制的情况下影响行为称为自由意志主义家长式作风，而影响者则称为选择建筑师。和 Sunstein 将他们的概念定义为:
{{quote|''A nudge, as we will use the term, is any aspect of the [[choice architecture]] that alters people's behavior in a predictable way without forbidding any options or significantly changing their economic incentives. To count as a mere nudge, the intervention must be easy and cheap to avoid. Nudges are not mandates. Putting fruit at eye level counts as a nudge. Banning junk food does not.''}}
In this form, drawing on behavioral economics, the nudge is more generally applied to influence behaviour.
In this form, drawing on behavioral economics, the nudge is more generally applied to influence behaviour.
在这种形式下，借鉴行为经济学，轻推更广泛地应用于影响行为。
One of the most frequently cited examples of a nudge is the etching of the image of a housefly into the men's room [[urinal]]s at Amsterdam's Schiphol Airport, which is intended to "improve the aim."<ref name="nudge" />
One of the most frequently cited examples of a nudge is the etching of the image of a housefly into the men's room urinals at Amsterdam's Schiphol Airport, which is intended to "improve the aim."
人们经常引用的一个轻推的例子是，在阿姆斯特丹大道(Schiphol Airport)的男厕所小便池里，刻画了一只家蝇的形象，目的是“提高目标”
Nudging techniques aim to use judgmental heuristics to our advantage. In other words, a nudge alters the environment so that when heuristic, or System 1, decision-making is used, the resulting choice will be the most positive or desired outcome.<ref>{{cite journal|last1=Campbell-Arvai|first1=V|last2=Arvai|first2=J.|last3=Kalof|first3=L.|title=Motivating sustainable food choices: the role of nudges, value orientation, and information provision|journal=Environment and Behavior|date=2014|volume=46|issue=4|pages=453–475|url=https://www.researchgate.net/publication/272996812|doi=10.1177/0013916512469099}}</ref> An example of such a nudge is switching the placement of junk food in a store, so that fruit and other healthy options are located next to the cash register, while junk food is relocated to another part of the store.<ref>{{cite journal|last1=Kroese|first1=F.|last2=Marchiori|first2=D.|last3=de Ridder|first3=D.|title=Nudging healthy food choices: a field experiment at the train station|journal=Journal of Public Health|date=2016|volume=38|issue=2|pages=e133–7|url=https://academic.oup.com/jpubhealth/article-pdf/38/2/e133/6869936/fdv096.pdf|doi=10.1093/pubmed/fdv096|pmid=26186924}}</ref>
Nudging techniques aim to use judgmental heuristics to our advantage. In other words, a nudge alters the environment so that when heuristic, or System 1, decision-making is used, the resulting choice will be the most positive or desired outcome. An example of such a nudge is switching the placement of junk food in a store, so that fruit and other healthy options are located next to the cash register, while junk food is relocated to another part of the store.
激励技巧的目的是使用判断启发式对我们有利。换句话说，一个轻推改变了环境，当启发式，或系统1，决策是使用，产生的选择将是最积极的或期望的结果。这种推动的一个例子是改变垃圾食品在商店的位置，使水果和其他健康的选择放在收银机旁边，而垃圾食品被搬到商店的另一个部分。
In 2008, the United States appointed Sunstein, who helped develop the theory, as administrator of the [[Office of Information and Regulatory Affairs]].<ref name=speak>{{cite news|url=https://www.theguardian.com/politics/blog/2008/aug/22/davidcameron.conservatives|title=Speak 'Nudge': The 10 key phrases from David Cameron's favorite book|author=Andrew Sparrow|newspaper=[[The Guardian]]|date=2008-08-22|accessdate=2009-09-09 | location=London}}</ref><ref>{{cite news|url=http://business.timesonline.co.uk/tol/business/career_and_jobs/article4330267.ece|title=Why Barack Obama and David Cameron are keen to 'nudge' you|newspaper=[[The Times]]|author=Carol Lewis |date=2009-07-22|accessdate=2009-09-09 | location=London}}</ref><ref>{{cite magazine|url=http://www.spectator.co.uk/the-magazine/features/839676/nudge-nudge-meet-the-cameroons-new-guru.thtml|title=Nudge, nudge: meet the Cameroons' new guru|magazine=[[The Spectator]]|author=James Forsyth|date=2009-07-16|accessdate=2009-09-09|url-status=dead|archiveurl=https://web.archive.org/web/20090124222449/http://www.spectator.co.uk/the-magazine/features/839676/nudge-nudge-meet-the-cameroons-new-guru.thtml|archivedate=2009-01-24}}</ref>
In 2008, the United States appointed Sunstein, who helped develop the theory, as administrator of the Office of Information and Regulatory Affairs.
2008年，美国任命帮助发展该理论的 Sunstein 为信息和管理事务办公室的管理员。
Notable applications of nudge theory include the formation of the British [[Behavioural Insights Team]] in 2010. It is often called the "Nudge Unit", at the British [[Cabinet Office]], headed by [[David Halpern (psychologist)|David Halpern]].<ref>{{cite web|url=https://www.behaviouralinsights.co.uk/about-us/|title=Who we are |website = The Behavioural Insights Team}}</ref>
Notable applications of nudge theory include the formation of the British Behavioural Insights Team in 2010. It is often called the "Nudge Unit", at the British Cabinet Office, headed by David Halpern.
轻推理论的主要应用包括2010年英国行为洞察小组的成立。在大卫 · 哈尔彭领导的英国内阁办公室，它经常被称为“推动小组”。
Both Prime Minister [[David Cameron]] and President [[Barack Obama]] sought to employ nudge theory to advance [[domestic policy]] goals during their terms.<ref>{{cite news|url=https://www.independent.co.uk/news/uk/politics/first-obama-now-cameron-embraces-nudge-theory-2050127.html|title=First Obama, now Cameron embraces 'nudge theory'|date=12 August 2010|newspaper=The Independent}}</ref>
Both Prime Minister David Cameron and President Barack Obama sought to employ nudge theory to advance domestic policy goals during their terms.
英国首相戴维•卡梅伦(David Cameron)和美国总统巴拉克•奥巴马(Barack Obama)都试图在任期内运用轻推理论来推进国内政策目标。
In Australia, the government of New South Wales established a Behavioural Insights community of practice.<ref>{{cite web |url= http://bi.dpc.nsw.gov.au/|title=Behavioural Insights|publisher =Department of Premier and Cabinet|website=bi.dpc.nsw.gov.au}}</ref>
In Australia, the government of New South Wales established a Behavioural Insights community of practice.
在澳大利亚，新南威尔士州政府建立了一个行为洞察实践社区。
Nudge theory has also been applied to [[business management]] and [[corporate culture]], such as in relation to [[Environment, health and safety|health, safety and environment]] (HSE) and human resources. Regarding its application to HSE, one of the primary goals of nudge is to achieve a "zero accident culture."<ref>{{cite web|url=http://www.rydermarsh.co.uk/pdfs/SHP.0112.pdf|title=Cast No Shadow|website= Rydermarsh.co.uk|url-status = dead|archiveurl = https://web.archive.org/web/20171010050856/http://www.rydermarsh.co.uk/pdfs/SHP.0112.pdf|archivedate =10 October 2017|last = Marsh|first = Tim|date = January 2012 }}</ref>
Nudge theory has also been applied to business management and corporate culture, such as in relation to health, safety and environment (HSE) and human resources. Regarding its application to HSE, one of the primary goals of nudge is to achieve a "zero accident culture."
轻推理论也被应用于企业管理和企业文化，如与健康、安全与环境(HSE)和人力资源相关的领域。关于它在 HSE 中的应用，轻推的主要目标之一是实现“零事故文化”
Leading [[Silicon Valley]] companies are forerunners in applying nudge theory in a corporate setting. These companies are using nudges in various forms to increase the productivity and happiness of employees. Recently, further companies are gaining interest in using what is called "nudge management" to improve the productivity of their white-collar workers.<ref>{{Cite journal|last=Ebert|first=Philip|last2=Freibichler|first2=Wolfgang|year=2017|title=Nudge management: applying behavioural science to increase knowledge worker productivity|journal=Journal of Organization Design|volume=6:4|pages=|doi=10.1186/s41469-017-0014-1|hdl=1893/25187|hdl-access=free}}</ref>
Leading Silicon Valley companies are forerunners in applying nudge theory in a corporate setting. These companies are using nudges in various forms to increase the productivity and happiness of employees. Recently, further companies are gaining interest in using what is called "nudge management" to improve the productivity of their white-collar workers.
领先的硅谷企业在企业环境中应用“推动”理论方面走在了前面。这些公司正在以各种方式推动员工，以提高他们的生产力和幸福感。最近，越来越多的公司开始对利用所谓的“微推管理”(nudge management)来提高白领工人的生产率感兴趣。
Behavioral insights and nudges are currently used in many countries around the world.<ref>{{cite book|last=Carrasco-Villanueva|first=Marco|editor=上海社会科学院 [Shanghai Academy of Social Sciences]|title=2016上海青年汉学家研修计划论文集|language=zh|publisher=中国社会科学出版社 [China Social Sciences Press]|date=2016|pages=[https://archive.org/details/guidetolcshinfor00doej/page/368 368–392]|chapter=中国的环境公共政策：一个行为经济学的选择 [Environmental Public Policies in China: An Opportunity for Behavioral Economics]|isbn=978-1-234-56789-7|url=https://archive.org/details/guidetolcshinfor00doej/page/368}}</ref>
Behavioral insights and nudges are currently used in many countries around the world.
目前世界上许多国家都在使用行为洞察力和推动力。
==== Criticisms ====
Nudging has also been criticised. Tammy Boyce, from public health foundation [[The King's Fund]], has said: "We need to move away from short-term, politically motivated initiatives such as the 'nudging people' idea, which is not based on any good evidence and doesn't help people make long-term behaviour changes."<ref>{{cite news| url=https://www.independent.co.uk/life-style/health-and-wellbeing/health-news/unhealthy-lifestyles-here-to-stay-in-spite-of-costly-campaigns-1055693.html | work=The Independent | location=London | title=Unhealthy lifestyles here to stay, in spite of costly campaigns | first=Nina | last=Lakhani | date=December 7, 2008 | accessdate=April 28, 2010}}</ref>
Nudging has also been criticised. Tammy Boyce, from public health foundation The King's Fund, has said: "We need to move away from short-term, politically motivated initiatives such as the 'nudging people' idea, which is not based on any good evidence and doesn't help people make long-term behaviour changes."
“轻推”也受到了批评。来自公共卫生基金会“国王基金会”的泰米 · 博伊斯说: “我们需要远离短期的、出于政治动机的行动，比如‘推动人们’的想法，这种想法没有任何有力的证据，也无助于人们做出长期的行为改变。”
Cass Sunstein has responded to critiques at length in his ''The Ethics of Influence''<ref>{{Cite book|url={{google books |plainurl=y |id=TlvWDAAAQBAJ|page=8}} |title=The Ethics of Influence: Government in the Age of Behavioral Science|last=Sunstein|first=Cass R.|date=2016-08-24|publisher=Cambridge University Press|isbn=9781107140707|language=en}}</ref> making the case in favor of nudging against charges that nudges diminish autonomy,<ref>{{Cite journal|last=Schubert|first=Christian|date=2015-10-12|title=On the Ethics of Public Nudging: Autonomy and Agency|location=Rochester, NY|ssrn=2672970}}</ref> threaten dignity, violate liberties, or reduce welfare. Ethicists have debated this rigorously.<ref>{{Cite journal|last=Barton|first=Adrien|last2=Grüne-Yanoff|first2=Till|date=2015-09-01|title=From Libertarian Paternalism to Nudging—and Beyond|journal=Review of Philosophy and Psychology|language=en|volume=6|issue=3|pages=341–359|doi=10.1007/s13164-015-0268-x|issn=1878-5158|doi-access=free}}</ref> These charges have been made by various participants in the debate from Bovens<ref>{{Cite book|title=Preference Change|last=Bovens|first=Luc|date=2009|publisher=Springer, Dordrecht|isbn=9789048125920|series=Theory and Decision Library|pages=207–219|language=en|doi=10.1007/978-90-481-2593-7_10|chapter = The Ethics of Nudge}}</ref> to Goodwin.<ref>{{Cite journal|last=Goodwin|first=Tom|date=2012-06-01|title=Why We Should Reject 'Nudge'|journal=Politics|language=en|volume=32|issue=2|pages=85–92|doi=10.1111/j.1467-9256.2012.01430.x|issn=0263-3957}}</ref> Wilkinson for example charges nudges for being manipulative, while others such as Yeung question their scientific credibility.<ref>{{Cite journal|last=Yeung|first=Karen|date=2012-01-01|title=Nudge as Fudge|journal=The Modern Law Review|language=en|volume=75|issue=1|pages=122–148|doi=10.1111/j.1468-2230.2012.00893.x|issn=1468-2230}}</ref>
Cass Sunstein has responded to critiques at length in his The Ethics of Influence making the case in favor of nudging against charges that nudges diminish autonomy, threaten dignity, violate liberties, or reduce welfare. Ethicists have debated this rigorously. These charges have been made by various participants in the debate from Bovens to Goodwin. Wilkinson for example charges nudges for being manipulative, while others such as Yeung question their scientific credibility.
卡斯 · 桑斯坦在他的《影响力的道德规范》一书中对批评做出了详尽的回应，支持推动反对那些削弱自主权、威胁尊严、侵犯自由或减少福利的指控。伦理学家们对此进行了激烈的辩论。这些指控是从博文斯到古德温等各种辩论参与者提出的。例如，威尔金森指责人们轻推他的操纵行为，而杨家诚等人则质疑他们的科学可信度。
Some, such as Hausman & Welch<ref>{{Cite journal|last=Hausman|first=Daniel M.|last2=Welch|first2=Brynn|date=2010-03-01|title=Debate: To Nudge or Not to Nudge*|journal=Journal of Political Philosophy|language=en|volume=18|issue=1|pages=123–136|doi=10.1111/j.1467-9760.2009.00351.x|issn=1467-9760}}</ref> have inquired whether nudging should be permissible on grounds of (distributive{{clarify|date=February 2018}}) justice; Lepenies & Malecka<ref>{{Cite journal|last=Lepenies|first=Robert|last2=Małecka|first2=Magdalena|date=2015-09-01|title=The Institutional Consequences of Nudging – Nudges, Politics, and the Law|journal=Review of Philosophy and Psychology|language=en|volume=6|issue=3|pages=427–437|doi=10.1007/s13164-015-0243-6|issn=1878-5158}}</ref> have questioned whether nudges are compatible with the rule of law. Similarly, legal scholars have discussed the role of nudges and the law.<ref>{{Cite journal|last=Alemanno|first=A.|last2=Spina|first2=A.|date=2014-04-01|title=Nudging legally: On the checks and balances of behavioral regulation|journal=International Journal of Constitutional Law|language=en|volume=12|issue=2|pages=429–456|doi=10.1093/icon/mou033|issn=1474-2640|doi-access=free}}</ref><ref>{{Cite journal|last=Kemmerer|first=Alexandra|last2=Möllers|first2=Christoph|last3=Steinbeis|first3=Maximilian|last4=Wagner|first4=Gerhard|date=2016-07-15|title=Choice Architecture in Democracies: Exploring the Legitimacy of Nudging - Preface|location=Rochester, NY|ssrn=2810229}}</ref>
Some, such as Hausman & Welch have inquired whether nudging should be permissible on grounds of (distributive) justice; Lepenies & Malecka have questioned whether nudges are compatible with the rule of law. Similarly, legal scholars have discussed the role of nudges and the law.
豪斯曼和韦尔奇等人曾询问，基于(分配正义)的理由，轻推是否应该被允许; 莱佩尼斯和马莱卡则质疑轻推是否符合法治。同样，法律学者也讨论了“推动力”和法律的作用。
Behavioral economists such as Bob Sugden have pointed out that the underlying normative benchmark of nudging is still [[homo oeconomicus|homo economicus]], despite the proponents' claim to the contrary.<ref>{{Cite journal|last=Sugden|first=Robert|date=2017-06-01|title=Do people really want to be nudged towards healthy lifestyles?|journal=International Review of Economics|language=en|volume=64|issue=2|pages=113–123|doi=10.1007/s12232-016-0264-1|issn=1865-1704|doi-access=free}}</ref>
Behavioral economists such as Bob Sugden have pointed out that the underlying normative benchmark of nudging is still homo economicus, despite the proponents' claim to the contrary.
鲍勃 · 萨格登等行为经济学家指出，轻推的基本标准仍然是经济人，尽管支持者声称相反。
It has been remarked that nudging is also a [[euphemism]] for [[psychological manipulation]] as practiced in [[social engineering (political science)|social engineering]].<ref>{{cite web|url=http://www.law.harvard.edu/programs/olin_center/papers/pdf/Sunstein_809.pdf|title=NUDGING AND CHOICE ARCHITECTURE: ETHICAL CONSIDERATIONS|author=Cass R. Sunstein|website=Law.harvard.edu|accessdate=11 October 2017}}</ref><ref>{{cite web|url=http://www.abc.net.au/news/2015-12-01/berg-a-nudge-in-the-right-direction/6988786|title=A nudge in the right direction? How we can harness behavioural economics|date=1 December 2015|publisher=}}</ref>
It has been remarked that nudging is also a euphemism for psychological manipulation as practiced in social engineering.
有人说，轻推也是社会工程中心理操纵的委婉说法。
There exists an anticipation and, simultaneously, implicit criticism of the nudge theory in works of Hungarian social psychologists who emphasize the active participation in the nudge of its target (Ferenc Merei<ref>{{cite journal|last =MÉREI|first= Ferenc |date =1987|title = A perem-helyzet egyik változata: a szociálpszichológiai kontúr |trans-title=A variant of the edge-position: the contour social psychological |language = Hungarian|journal = Pszichológia |volume =1|pages = 1–5}}</ref> and Laszlo Garai<ref name = Garai>{{cite book|last =Garai|first = Laszlo|chapter= The Double-Storied Structure of Social Identity|title = Reconsidering Identity Economics|publisher = Palgrave Macmillan|location= New York|date = 2017|isbn = 978-1-137-52561-1}}</ref>).
There exists an anticipation and, simultaneously, implicit criticism of the nudge theory in works of Hungarian social psychologists who emphasize the active participation in the nudge of its target (Ferenc Merei and Laszlo Garai).
在匈牙利社会心理学家的著作中，存在着对轻推理论的预期，同时也存在着对这一理论的隐含批评，他们强调对目标的轻推的积极参与(Ferenc Merei 和 Laszlo Garai)。
=== Behavioral finance<!--'Behavioral finance' redirects here--> ===
[[File:Robert J. Shiller 2017.jpg|thumb|left|140px|[[Robert J. Shiller]], winner of the 2013 Nobel Prize in economics]]
[[Robert J. Shiller, winner of the 2013 Nobel Prize in economics]]
[罗勃·席勒，2013年诺贝尔经济学奖获得者]
The central issue in '''behavioral finance'''<!--boldface per WP:R#PLA--> is explaining why market participants make irrational [[systematic errors]] contrary to assumption of rational market participants.<ref name="ssrn.com" /> Such errors affect prices and returns, creating market inefficiencies. The study of behavioral finance also investigates how other participants take advantage ([[arbitrage]]) of such errors and market inefficiencies.
The central issue in behavioral finance<!--boldface per WP:R#PLA--> is explaining why market participants make irrational systematic errors contrary to assumption of rational market participants. Such errors affect prices and returns, creating market inefficiencies. The study of behavioral finance also investigates how other participants take advantage (arbitrage) of such errors and market inefficiencies.
行为金融学的核心问题---- 黑体 wp: r # pla----是解释为什么市场参与者与理性市场参与者的假设相反，会犯下非理性的系统性错误。这些错误会影响价格和回报，造成市场低效率。行为金融学的研究还探讨了其他参与者如何利用这些错误和市场无效率的优势(套利)。
Behavioral finance highlights inefficiencies, such as under- or over-reactions to information, as causes of [[market trend]]s and, in extreme cases, of [[Economic bubble|bubbles]] and [[Stock market crash|crashes]]. Such reactions have been attributed to limited investor attention, overconfidence, overoptimism, mimicry ([[herding instinct]]) and [[noise trader|noise trading]]. Technical analysts consider behavioral finance to be behavioral economics' "academic cousin" and the theoretical basis for [[technical analysis]].{{sfn|Kirkpatrick|Dahlquist|2007|p=49}}
Behavioral finance highlights inefficiencies, such as under- or over-reactions to information, as causes of market trends and, in extreme cases, of bubbles and crashes. Such reactions have been attributed to limited investor attention, overconfidence, overoptimism, mimicry (herding instinct) and noise trading. Technical analysts consider behavioral finance to be behavioral economics' "academic cousin" and the theoretical basis for technical analysis.
行为金融学强调了低效率，例如对信息反应不足或过度，这是市场趋势的原因，在极端情况下，也是泡沫和崩溃的原因。这种反应被归因于投资者注意力有限、过度自信、过于乐观、模仿(羊群本能)和噪音交易。技术分析家认为行为金融学是行为经济学的“学术表兄” ，是技术分析的理论基础。
Other key observations include the asymmetry between decisions to acquire or keep resources, known as the "bird in the bush" paradox, and [[loss aversion]], the unwillingness to let go of a valued possession. Loss aversion appears to manifest itself in investor behavior as a reluctance to sell shares or other equity if doing so would result in a nominal loss.{{citation needed|date=October 2018}} It may also help explain why housing prices rarely/slowly decline to market clearing levels during periods of low demand.
Other key observations include the asymmetry between decisions to acquire or keep resources, known as the "bird in the bush" paradox, and loss aversion, the unwillingness to let go of a valued possession. Loss aversion appears to manifest itself in investor behavior as a reluctance to sell shares or other equity if doing so would result in a nominal loss. It may also help explain why housing prices rarely/slowly decline to market clearing levels during periods of low demand.
其他关键观察还包括获取或保留资源的决定之间的不对称，即所谓的“丛林中的鸟”悖论，以及对损失的厌恶，即不愿意放弃有价值的财产。损失厌恶似乎表现为投资者不愿意出售股票或其他股权，如果这样做会导致名义上的损失。这也可能有助于解释为什么在需求低迷时期，房价很少 / 缓慢下降到市场清算水平。
Benartzi and Thaler, applying a version of [[prospect theory]], claim to have solved the [[equity premium puzzle]], something conventional finance models so far have been unable to do.{{sfn|Benartzi|Thaler|1995}} [[Experimental finance]] applies the experimental method, e.g., creating an artificial market through some kind of simulation software to study people's decision-making process and behavior in financial markets.
Benartzi and Thaler, applying a version of prospect theory, claim to have solved the equity premium puzzle, something conventional finance models so far have been unable to do. Experimental finance applies the experimental method, e.g., creating an artificial market through some kind of simulation software to study people's decision-making process and behavior in financial markets.
贝纳茨和塞勒应用前景理论的一个版本，声称已经解决了股权溢价之谜，这是传统金融模型迄今无法解决的问题。实验金融学应用实验方法，例如，通过某种模拟软体创造一个人工市场来研究人们在金融市场中的决策过程和行为。
==== Quantitative behavioral finance ====
[[Quantitative behavioral finance]] uses mathematical and statistical methodology to understand [[behavioral bias]]es. In marketing research, a study shows little evidence that escalating biases impact marketing decisions.<ref>{{cite journal|url=http://www.forecastingprinciples.com/paperpdf/Escalation%20Bias.pdf|title=Escalation Bias: Does It Extend to Marketing?|author=J. Scott Armstrong, Nicole Coviello and Barbara Safranek|journal=Journal of the Academy of Marketing Science|volume=21|pages=247–352|year=1993|doi=10.1177/0092070393213008|issue=3|citeseerx=<!--10.1.1.335.5132-->}}</ref> Leading contributors include [[Gunduz Caginalp]] (Editor of the [[Journal of Behavioral Finance]] from 2001–04), and collaborators include 2002 Nobel Laureate [[Vernon L. Smith|Vernon Smith]], David Porter, Don Balenovich,<ref name=porter>{{cite web|title=Dr. Donald A. Balenovich|publisher=Indiana University of Pennsylvania, Mathematics Department|url=http://www.ma.iup.edu/people/dabalen.html}}</ref> Vladimira Ilieva and Ahmet Duran,<ref name=duran>{{cite web|title=Ahmet Duran|publisher=Department of Mathematics, [[University of Michigan]]-Ann Arbor|url=http://www.umich.edu/~durana}}</ref> and Ray Sturm.<ref name=sturm>{{cite web|title=Dr Ray R. Sturm, CPA |publisher=College of Business Administration |url=http://www.bus.ucf.edu/rsturm |url-status=dead |archiveurl=https://web.archive.org/web/20060920114653/http://www.bus.ucf.edu/rsturm/ |archivedate=September 20, 2006 }}</ref>
Quantitative behavioral finance uses mathematical and statistical methodology to understand behavioral biases. In marketing research, a study shows little evidence that escalating biases impact marketing decisions. Leading contributors include Gunduz Caginalp (Editor of the Journal of Behavioral Finance from 2001–04), and collaborators include 2002 Nobel Laureate Vernon Smith, David Porter, Don Balenovich, Vladimira Ilieva and Ahmet Duran, and Ray Sturm.
定量行为金融学使用数学和统计方法来理解行为偏差。在营销研究中，一项研究显示，没有证据表明逐步升级的偏见会影响营销决策。主要贡献者包括 Gunduz Caginalp (2001-04年《行为金融学杂志》的编辑) ，合作者包括2002年诺贝尔奖获得者 Vernon Smith，David Porter，Don Balenovich，Vladimira Ilieva 和 Ahmet Duran，以及 Ray Sturm。
==== Financial models ====
Some financial models used in money management and asset valuation incorporate behavioral finance parameters. Examples:
Some financial models used in money management and asset valuation incorporate behavioral finance parameters. Examples:
一些用于货币管理和资产评估的金融模型纳入了行为金融学参数。例子:
* Thaler's model of price reactions to information, with three phases (underreaction, adjustment, and overreaction), creating a price [[market trend|trend]].
:One characteristic of overreaction is that average returns following announcements of good news is lower than following bad news. In other words, overreaction occurs if the market reacts too strongly or for too long to news, thus requiring an adjustment in the opposite direction. As a result, outperforming assets in one period is likely to underperform in the following period. This also applies to customers' irrational purchasing [[habit]]s.<ref>{{cite web|url=http://flevy.com/blog/why-people-wont-buy-your-product-even-though-its-awesome/|title=Why People Won't Buy Your Product Even Though It's Awesome|last=Tang|first=David|date=6 May 2013|publisher=Flevy|accessdate=31 May 2013}}</ref>
One characteristic of overreaction is that average returns following announcements of good news is lower than following bad news. In other words, overreaction occurs if the market reacts too strongly or for too long to news, thus requiring an adjustment in the opposite direction. As a result, outperforming assets in one period is likely to underperform in the following period. This also applies to customers' irrational purchasing habits.
过度反应的一个特点是，好消息宣布后的平均收益低于坏消息。换句话说，如果市场对新闻反应过强或持续时间过长，就会出现过度反应，因此需要朝相反方向进行调整。因此，在一个时期表现优异的资产在下一个时期可能表现不佳。这也适用于消费者不合理的购买习惯。
* The [[stock valuation|stock image]] coefficient.
==== Criticisms ====
Critics such as [[Eugene Fama]] typically support the [[efficient-market hypothesis]]. They contend that behavioral finance is more a collection of [[Market anomaly|anomalies]] than a true branch of [[finance]] and that these anomalies are either quickly priced out of the market or explained by appealing to [[market microstructure]] arguments. However, individual [[cognitive bias]]es are distinct from social biases; the former can be averaged out by the market, while the other can create positive [[feedback loop]]s that drive the market further and further from a "[[fair price]]" equilibrium. Similarly, for an anomaly to violate market efficiency, an investor must be able to trade against it and earn abnormal profits; this is not the case for many anomalies.<ref>{{Cite web|url=http://www.dimensional.com/famafrench/2009/08/fama-on-market-efficiency-in-a-volatile-market.html|archiveurl=https://web.archive.org/web/20100324015212/http://www.dimensional.com/famafrench/2009/08/fama-on-market-efficiency-in-a-volatile-market.html|url-status=dead|title=Fama on Market Efficiency in a Volatile Market|archivedate=March 24, 2010}}</ref>
Critics such as Eugene Fama typically support the efficient-market hypothesis. They contend that behavioral finance is more a collection of anomalies than a true branch of finance and that these anomalies are either quickly priced out of the market or explained by appealing to market microstructure arguments. However, individual cognitive biases are distinct from social biases; the former can be averaged out by the market, while the other can create positive feedback loops that drive the market further and further from a "fair price" equilibrium. Similarly, for an anomaly to violate market efficiency, an investor must be able to trade against it and earn abnormal profits; this is not the case for many anomalies.
像 Eugene Fama 这样的批评家典型地支持效率市场假说。他们认为，行为金融学更多的是一个异常现象的集合，而不是一个真正的金融分支，这些异常现象要么很快被定价出市场，要么通过吸引市场微观结构的论点来解释。然而，个人认知偏差不同于社会偏差; 前者可以由市场平均化，而后者可以创造正反馈循环，使市场越来越偏离”公平价格”均衡。同样，对于违反市场效率的反常现象，投资者必须能够对其进行交易并获得异常利润; 许多反常现象并非如此。
A specific example of this criticism appears in some explanations of the [[equity premium puzzle]]. It is argued that the cause is [[barriers to entry|entry barriers]] (both practical and psychological) and that returns between stocks and bonds should equalize as electronic resources open up the stock market to more traders.<ref>See Freeman, 2004 for a review</ref> In response, others contend that most personal investment funds are managed through superannuation funds, minimizing the effect of these putative entry barriers.{{citation needed|date=July 2016}} In addition, professional investors and fund managers seem to hold more bonds than one would expect given return differentials.{{citation needed|date=July 2016}}
A specific example of this criticism appears in some explanations of the equity premium puzzle. It is argued that the cause is entry barriers (both practical and psychological) and that returns between stocks and bonds should equalize as electronic resources open up the stock market to more traders. In response, others contend that most personal investment funds are managed through superannuation funds, minimizing the effect of these putative entry barriers. In addition, professional investors and fund managers seem to hold more bonds than one would expect given return differentials.
这种批评的一个具体例子出现在对股票溢价之谜的一些解释中。有人认为，原因是进入壁垒(实际和心理上的) ，随着电子资源向更多的交易者开放股票市场，股票和债券之间的回报应该相等。作为回应，其他人认为，大多数个人投资基金是通过养老基金管理的，最小化这些假定的进入壁垒的影响。此外，考虑到回报率差异，专业投资者和基金经理持有的债券似乎超出了人们的预期。
=== Behavioral game theory ===
{{Main|Behavioral game theory}}
Behavioral game theory, invented by [[Colin Camerer]], analyzes interactive [[Strategy (game theory)|strategic]] decisions and behavior using the [[methodology|methods]] of [[game theory]],<ref>{{cite web |first=Robert |last=Auman |authorlink=Robert Aumann|title=Game Theory |url=http://www.dictionaryofeconomics.com/articleid=pde2008_G000007&q=game%20theory&topicid=&result_number=3}} in {{harvnb|Palgrave|ref=Palgrave}}</ref> [[Experimental economics#Experimental topics|experimental economics]], and [[experimental psychology]]. Experiments include testing deviations from typical simplifications of economic theory such as the [[Independence of irrelevant alternatives|independence axiom]]<ref>{{cite journal | last1 = Camerer | first1 = Colin | last2 = Ho | first2 = Teck-Hua | author-link1 = Colin Camerer | title = Violations of the betweenness axiom and nonlinearity in probability | journal = Journal of Risk and Uncertainty | volume = 8 | issue = 2 | pages = 167–96 | date = March 1994 | ref = harv | doi=10.1007/bf01065371}}</ref> and neglect of [[altruism]],<ref>{{cite web |first=James |last=Andreoni |title=Altruism in experiments |url=http://www.dictionaryofeconomics.com/article?id=pde008_A000240&edition=current&q=altruism%20game&topicid=&result_number=2 |display-authors=etal}} in {{harvnb|Palgrave|ref=Palgrave}}</ref> [[Fair division|fairness]],<ref>{{cite web |first=H. Peyton |last=Young |authorlink=H. Peyton Young |title=Social norms
Behavioral game theory, invented by Colin Camerer, analyzes interactive strategic decisions and behavior using the methods of game theory, experimental economics, and experimental psychology. Experiments include testing deviations from typical simplifications of economic theory such as the independence axiom and neglect of altruism, fairness,<ref>{{cite web |first=H. Peyton |last=Young |authorlink=H. Peyton Young |title=Social norms
行为博弈论由科林 · 卡梅勒发明，运用博弈论、实验经济学和实验心理学的方法分析交互式的战略决策和行为。实验包括检验经济理论典型简化的偏差，如独立公理和忽视利他主义、公平、公正。佩顿 | 上一个年轻人 | 作者 / 链接 h。佩顿 · 杨 | 标题社会规范
|url=http://www.dictionaryofeconomics.com/article?id=pde2008_S000466&edition=current&q=fairness%20game%20&topicid=&result_number=1 }} in {{harvnb|Palgrave|ref=Palgrave}}</ref> and [[Framing effect (psychology)|framing effects]].<ref>{{cite journal | last = Camerer | first = Colin | author-link = Colin Camerer | title = Progress in behavioral game theory | journal = Journal of Economic Perspectives | volume = 11 | issue = 4 | page = 172 | date = 1997 | url = http://www.hss.caltech.edu/content/progress-and-behavioral-game-theory | ref = harv | doi = 10.1257/jep.11.4.167 | access-date = 2014-10-31 | archive-url = https://web.archive.org/web/20171223112437/http://www.hss.caltech.edu/content/progress-and-behavioral-game-theory | archive-date = 2017-12-23 | url-status = dead }} [http://authors.library.caltech.edu/22122/1/2138470%5B1%5D.pdf Pdf version.]</ref> On the [[positive economics|positive]] side, the method has been applied to interactive learning<ref>{{cite web|first=Teck H. |last=Ho |year=2008 |title=Individual learning in games |url=http://www.dictionaryofeconomics.com/article?id=pde2008_L000055 }} in {{harvnb|Palgrave|ref=Palgrave}}</ref> and [[social preference]]s.<ref>{{cite journal |first1=Martin |last1=Dufwenberg |first2=Georg |last2=Kirchsteiger |year=2004 |title=A Theory of Sequential reciprocity |journal=Games and Economic Behavior |issue=2 |pages=268–98 |doi=10.1016/j.geb.2003.06.003 |volume=47|citeseerx=10.1.1.124.9311 }}</ref><ref>{{cite web |first=Faruk |last=Gul |authorlink=Faruk Gul |year=2008 |title=Behavioural economics and game theory |url=http://www.dictionaryofeconomics.com/article?id=pde2008_G000210&edition=current&q=behavioural%20economics%20&topicid=&result_number=2}} in {{harvnb|Palgrave|ref=Palgrave}}</ref><ref>{{cite web |first=Colin F. |last=Camerer |authorlink=Colin F. Camerer |year=2008 |title=Behavioral game theory |url=http://www.dictionaryofeconomics.com/article?id=pde2008_B000302&q=Behavioral%20economics%20&topicid=&result_number=13 }} in {{harvnb|Palgrave|ref=Palgrave}}</ref> As a research program, the subject is a development of the last three decades.<ref>{{cite book | last = Camerer | first = Colin | author-link = Colin Camerer | title = Behavioral game theory: experiments in strategic interaction | publisher = Russell Sage Foundation Princeton University Press | location = New York, New York Princeton, New Jersey | year = 2003 | isbn = 978-0-691-09039-9 |url={{google books |plainurl=y |id=cr_Xg7cRvdcC}} }}</ref><ref>{{cite book |first1 = George |last1=Loewenstein |authorlink1 =George Loewenstein |first2=Matthew |last2=Rabin |authorlink2=Matthew Rabin |year=2003 |title=Advances in Behavioral Economics 1986–2003 papers |location=Princeton |url=http://press.princeton.edu/titles/8437.html }}</ref><ref>{{cite journal |last=Fudenberg |first=Drew |authorlink=Drew Fudenberg |year=2006 |title=Advancing Beyond Advances in Behavioral Economics |journal=Journal of Economic Literature |volume=44 |issue=3 | jstor=30032349 |pages= 694–711 |doi=10.1257/jel.44.3.694|citeseerx=10.1.1.1010.3674 }}</ref><ref>{{cite book |first=Vincent P. |last=Crawford |year=1997 |title=Theory and Experiment in the Analysis of Strategic Interaction |journal=Advances in Economics and Econometrics: Theory and Applications |pages=206–42 |url=http://weber.ucsd.edu/~vcrawfor/CrawfordThExp97.pdf |location =Cambridge|doi=10.1017/CCOL521580110.007 |citeseerx=10.1.1.298.3116 |isbn=9781139052009 |editor1-last=Kreps |editor1-first=David M |editor2-last=Wallis |editor2-first=Kenneth F }}</ref><ref>{{cite book |first=Martin |last=Shubik |authorlink=Martin Shubik |year=2002 |title=Game Theory and Experimental Gaming |editor-first1=R. |editor-last1=Aumann and |editor-first2=S. |editor-last2=Hart |publisher=Elsevier |volume= 3 |pages= 2327–51 |doi=10.1016/S1574-0005(02)03025-4|chapter=Chapter 62 Game theory and experimental gaming |series=Handbook of Game Theory with Economic Applications |isbn=9780444894281 }}</ref><ref>{{cite book |first1= Charles R.|last1=Plott |authorlink= | last2= Smith| first2 = Vernon l| year=2002 |title=Game Theory and Experimental Gaming |editor-first1=R. |editor-last1=Aumann and |editor-first2=S. |editor-last2=Hart |work=Handbook of Game Theory with Economic Applications |publisher=Elsevier |volume= 4 |pages= 387–615 | doi=10.1016/S1574-0722(07)00121-7 | chapter= 45–66 |series=Handbook of Experimental Economics Results |isbn=9780444826428 }}</ref><ref>''[[Games and Economic Behavior]]'' (journal), Elsevier. [http://www.journals.elsevier.com/games-and-economic-behavior Online]</ref>
|url=http://www.dictionaryofeconomics.com/article?id=pde2008_S000466&edition=current&q=fairness%20game%20&topicid=&result_number=1 }} in </ref> and framing effects. On the positive side, the method has been applied to interactive learning and social preferences. As a research program, the subject is a development of the last three decades.
和帧 http://www.dictionaryofeconomics.com/article?id=pde2008_s000466&edition=current&q=fairness%20game%20&topicid=&result_number=1效果。积极的一面是，这种方法已经应用于交互式学习和社会偏好。作为一门研究课题，本课题是近三十年来的发展。
=== Economic reasoning in animals ===
A handful of [[comparative psychology|comparative psychologists]] have attempted to demonstrate quasi-economic reasoning in non-human animals. Early attempts along these lines focus on the behavior of [[laboratory rat|rats]] and [[rock pigeon|pigeons]]. These studies draw on the tenets of [[comparative psychology]], where the main goal is to discover analogs to human behavior in [[experiment]]ally-tractable non-human animals. They are also methodologically similar to the work of [[Charles Ferster|Ferster]] and [[B. F. Skinner|Skinner]].<ref name="skin">{{cite book |last=Ferster |first=C. B. |year=1957 |title=Schedules of Reinforcement |url=https://archive.org/details/schedulesofreinf0000fers |url-access=registration |location=New York |publisher=Appleton-Century-Crofts |display-authors=etal}}</ref> Methodological similarities aside, early researchers in non-human economics deviate from [[behaviorism]] in their [[terminology]]. Although such studies are set up primarily in an [[operant conditioning chamber]] using food rewards for pecking/bar-pressing behavior, the researchers describe pecking and bar-pressing not in terms of [[reinforcement]] and [[stimulus-response model|stimulus-response relationships]] but instead in terms of work, [[demand (economics)|demand]], [[budget]], and [[employment|labor]]. Recent studies have adopted a slightly different approach, taking a more [[evolution]]ary perspective, comparing economic behavior of humans to a species of non-human [[primate]], the [[capuchin monkey]].<ref name="monkey">{{cite journal |last=Chen |first=M. K. |year=2006 |title=How Basic Are Behavioral Biases? Evidence from Capuchin Monkey Trading Behavior |journal=[[Journal of Political Economy]] |volume=114 |issue=3 |pages=517–37 |doi=10.1086/503550 |display-authors=etal|citeseerx=10.1.1.594.4936 }}</ref>
A handful of comparative psychologists have attempted to demonstrate quasi-economic reasoning in non-human animals. Early attempts along these lines focus on the behavior of rats and pigeons. These studies draw on the tenets of comparative psychology, where the main goal is to discover analogs to human behavior in experimentally-tractable non-human animals. They are also methodologically similar to the work of Ferster and Skinner. Methodological similarities aside, early researchers in non-human economics deviate from behaviorism in their terminology. Although such studies are set up primarily in an operant conditioning chamber using food rewards for pecking/bar-pressing behavior, the researchers describe pecking and bar-pressing not in terms of reinforcement and stimulus-response relationships but instead in terms of work, demand, budget, and labor. Recent studies have adopted a slightly different approach, taking a more evolutionary perspective, comparing economic behavior of humans to a species of non-human primate, the capuchin monkey.
一些比较心理学家试图证明非人类动物的准经济推理。这方面的早期尝试集中在老鼠和鸽子的行为上。这些研究利用了比较心理学的原则，其主要目标是在实验上发现类似于人类行为的非人类动物。它们在方法上也与费斯特和斯金纳的工作相似。撇开方法上的相似性不谈，非人类经济学的早期研究者在他们的术语中偏离了行为主义。尽管这些研究主要建立在美国操作制约箱，用食物奖励啄食 / 按棒的行为，研究人员描述啄食和按棒不是从强化和刺激反应关系的角度，而是从工作、需求、预算和劳动力的角度。最近的研究采用了稍微不同的方法，从更进化的角度，将人类的经济行为与一种非人类灵长类动物——卷尾猴进行了比较。
==== Animal studies ====
Many early studies of non-human economic reasoning were performed on rats and pigeons in an operant conditioning chamber. These studies looked at things like peck rate (in the case of the pigeon) and bar-pressing rate (in the case of the rat) given certain conditions of reward. Early researchers claim, for example, that response pattern (pecking/bar-pressing rate) is an appropriate analogy to human [[labour supply|labor supply]].<ref name="bat">{{cite journal |last=Battalio |first=R. C. |year=1981 |title=Income-Leisure Tradeoffs of Animal Workers |journal=[[American Economic Review]] |volume=71 |issue=4 |pages=621–32 |jstor=1806185 |doi= |display-authors=etal}}</ref> Researchers in this field advocate for the appropriateness of using animal economic behavior to understand the elementary components of human economic behavior.<ref name="kbook">{{cite book|first1=John H. |last1=Kagel|first2=Raymond C. |last2=Battalio|first3=Leonard |last3=Green|title=Economic Choice Theory: An Experimental Analysis of Animal Behavior|url={{google books |plainurl=y |id=s4zk69tXQs8C}}|year=1995|publisher=Cambridge University Press|isbn=978-0-521-45488-9}}</ref> In a paper by Battalio, Green, and Kagel,<ref name="bat" /> they write,
Many early studies of non-human economic reasoning were performed on rats and pigeons in an operant conditioning chamber. These studies looked at things like peck rate (in the case of the pigeon) and bar-pressing rate (in the case of the rat) given certain conditions of reward. Early researchers claim, for example, that response pattern (pecking/bar-pressing rate) is an appropriate analogy to human labor supply. Researchers in this field advocate for the appropriateness of using animal economic behavior to understand the elementary components of human economic behavior. In a paper by Battalio, Green, and Kagel, they write,
许多关于非人类经济推理的早期研究都是在操作制约箱的老鼠和鸽子身上进行的。这些研究观察了在一定的奖励条件下的啄食率(在鸽子身上)和压棒率(在老鼠身上)。例如，早期的研究人员声称，反应模式(啄食 / 压棒速率)与人类劳动力供应是一个恰当的类比。这个领域的研究人员主张用动物的经济行为来理解人类经济行为的基本组成部分是合适的。格林和卡格尔在他们的一篇论文中写道:
{{quote|Space considerations do not permit a detailed discussion of the reasons why economists should take seriously the investigation of economic theories using nonhuman subjects....[Studies of economic behavior in non-human animals] provide a laboratory for identifying, testing, and better understanding general laws of economic behavior. Use of this laboratory is predicated on the fact that behavior, as well as structure, vary continuously across species, and that principles of economic behavior would be unique among behavioral principles if they did not apply, with some variation, of course, to the behavior of nonhumans.}}
==== Labor supply ====
The typical laboratory environment to study labor supply in pigeons is set up as follows. Pigeons are first deprived of food. Since the animals become hungry, food becomes highly desired. The pigeons are then placed in an operant conditioning chamber and through [[Shaping (psychology)|orienting and exploring]] the environment of the chamber they discover that by pecking a small disk located on one side of the chamber, food is delivered to them. In effect, pecking behavior becomes [[reinforcement|reinforced]], as it is associated with food. Before long, the pigeon pecks at the disk (or stimulus) regularly.
The typical laboratory environment to study labor supply in pigeons is set up as follows. Pigeons are first deprived of food. Since the animals become hungry, food becomes highly desired. The pigeons are then placed in an operant conditioning chamber and through orienting and exploring the environment of the chamber they discover that by pecking a small disk located on one side of the chamber, food is delivered to them. In effect, pecking behavior becomes reinforced, as it is associated with food. Before long, the pigeon pecks at the disk (or stimulus) regularly.
建立了鸽子劳动供给研究的典型实验室环境。鸽子首先被剥夺了食物。由于动物变得饥饿，食物变得非常渴望。然后鸽子被放置在操作制约箱中，通过定向和探索房间的环境，它们发现通过啄食房间一侧的小圆盘，食物被送到它们那里。实际上，啄食行为变得强化，因为它与食物有关。不久之后，鸽子定期啄食圆盘(或刺激物)。
In this circumstance, the pigeon is said to "work" for the food by pecking. The food, then, is thought of as the currency. The value of the currency can be adjusted in several ways, including the amount of food delivered, the rate of food delivery and the type of food delivered (some foods are more desirable than others).
In this circumstance, the pigeon is said to "work" for the food by pecking. The food, then, is thought of as the currency. The value of the currency can be adjusted in several ways, including the amount of food delivered, the rate of food delivery and the type of food delivered (some foods are more desirable than others).
在这种情况下，据说鸽子“工作”的食物啄。因此，食物被认为是货币。货币的价值可以通过几种方式进行调整，包括交付食品的数量、交付食品的速度和交付食品的类型(有些食品比其他食品更受欢迎)。
Economic behavior similar to that observed in humans is discovered when the hungry pigeons stop working/work less when the reward is reduced. Researchers argue that this is similar to [[labour supply|labor supply]] behavior in humans. That is, like humans (who, even in need, will only work so much for a given wage), the pigeons demonstrate decreases in pecking (work) when the reward (value) is reduced.<ref name="bat" />
Economic behavior similar to that observed in humans is discovered when the hungry pigeons stop working/work less when the reward is reduced. Researchers argue that this is similar to labor supply behavior in humans. That is, like humans (who, even in need, will only work so much for a given wage), the pigeons demonstrate decreases in pecking (work) when the reward (value) is reduced.
当奖励减少时，饥饿的鸽子停止工作 / 减少工作时，就会发现与人类相似的经济行为。研究人员认为，这与人类的劳动供给行为相似。也就是说，就像人类一样(即使在需要的时候，也只会为了给定的工资而工作那么多) ，当回报(价值)减少时，鸽子会表现出啄食(工作)的减少。
==== Demand ====
In human economics, a typical [[demand curve]] has [[slope|negative slope]]. This means that as the price of a certain good increase, the amount that consumers are willing and able to purchase decreases. Researchers studying the demand curves of non-human animals, such as rats, also find downward slopes.
In human economics, a typical demand curve has negative slope. This means that as the price of a certain good increase, the amount that consumers are willing and able to purchase decreases. Researchers studying the demand curves of non-human animals, such as rats, also find downward slopes.
在人类经济学中，典型的需求曲线具有负斜率。这意味着，随着某种商品的价格上涨，消费者愿意并且能够购买的数量会减少。研究人员在研究非人类动物(如老鼠)的需求曲线时，也发现了下滑趋势。
Researchers have studied demand in rats in a manner distinct from studying labor supply in pigeons. Specifically, in an operant conditioning chamber containing rats as experimental subjects, we require them to press a bar, instead of pecking a small disk, to receive a reward. The reward can be food (reward pellets), water, or a commodity drink such as [[cherry cola]]. Unlike in previous pigeon studies, where the work analog was pecking and the monetary analog was a reward, the work analog in this experiment is bar-pressing. Under these circumstances, the researchers claim that changing the number of bar presses required to obtain a commodity item is analogous to changing the price of a commodity item in human economics.<ref name="kag">{{cite journal |last=Kagel |first=J. H. |year=1981 |title=Demand Curves for Animal Consumers |journal=[[Quarterly Journal of Economics]] |volume=96 |issue=1 |pages=1–16 |doi=10.2307/2936137|display-authors=etal |jstor=2936137}}</ref>
Researchers have studied demand in rats in a manner distinct from studying labor supply in pigeons. Specifically, in an operant conditioning chamber containing rats as experimental subjects, we require them to press a bar, instead of pecking a small disk, to receive a reward. The reward can be food (reward pellets), water, or a commodity drink such as cherry cola. Unlike in previous pigeon studies, where the work analog was pecking and the monetary analog was a reward, the work analog in this experiment is bar-pressing. Under these circumstances, the researchers claim that changing the number of bar presses required to obtain a commodity item is analogous to changing the price of a commodity item in human economics.
研究人员用一种不同于研究鸽子劳力供应的方式来研究老鼠的需求。具体来说，在一个以老鼠为实验对象的操作制约箱中，我们要求他们按下一个按钮，而不是啄一个小圆盘，以获得奖励。奖励可以是食物(奖励颗粒) ，水，或者像樱桃可乐这样的日用品饮料。在以前的鸽子研究中，工作模拟是啄食，金钱模拟是奖励，而这次实验中的工作模拟是按条。在这种情况下，研究人员声称，改变棒材印刷机的数量，以获得商品项目类似于改变价格的商品项目在人类经济学。
In effect, results of demand studies in non-human animals show that, as the bar-pressing requirement (cost) increase, the number of times an animal presses the bar equal to or greater than the bar-pressing requirement (payment) decreases.
In effect, results of demand studies in non-human animals show that, as the bar-pressing requirement (cost) increase, the number of times an animal presses the bar equal to or greater than the bar-pressing requirement (payment) decreases.
实际上，对非人类动物的需求研究结果表明，随着压杆要求(成本)的增加，动物压杆等于或大于压杆要求(支付)的次数减少。
=== Evolutionary psychology ===
{{Main|Evolutionary psychology}}
{{Further|Evolutionary economics}}
An [[evolutionary psychology]] perspective states that many of the perceived limitations in rational choice can be explained as being rational in the context of maximizing biological [[Fitness (biology)|fitness]] in the ancestral environment, but not necessarily in the current one. Thus, when living at subsistence level where a reduction of resources may result in death, it may have been rational to place a greater value on preventing losses than on obtaining gains. It may also explain behavioral differences between groups, such as males being less risk-averse than females since males have more variable [[reproductive success]] than females. While unsuccessful risk-seeking may limit reproductive success for both sexes, males may potentially increase their reproductive success from successful risk-seeking much more than females can.<ref name=AEP>Paul H. Rubin and C. Monica Capra. The evolutionary psychology of economics. In {{Cite book | last1 = Roberts | first1 = S. C. | editor1-last = Roberts | doi = 10.1093/acprof:oso/9780199586073.001.0001 | editor1-first = S. Craig | title = Applied Evolutionary Psychology | year = 2011 | publisher = Oxford University Press| isbn = 9780199586073 | pmid = | pmc = |url={{google books |plainurl=y |id=I20uPfEjsNQC}}}}</ref>
An evolutionary psychology perspective states that many of the perceived limitations in rational choice can be explained as being rational in the context of maximizing biological fitness in the ancestral environment, but not necessarily in the current one. Thus, when living at subsistence level where a reduction of resources may result in death, it may have been rational to place a greater value on preventing losses than on obtaining gains. It may also explain behavioral differences between groups, such as males being less risk-averse than females since males have more variable reproductive success than females. While unsuccessful risk-seeking may limit reproductive success for both sexes, males may potentially increase their reproductive success from successful risk-seeking much more than females can.
进化心理学的观点认为，理性选择中的许多可感知的局限性可以被解释为在祖先环境中最大化生物适应性的背景下是理性的，但不一定是在当前环境中。因此，当生活在资源减少可能导致死亡的维持生计水平时，理性的做法可能是把更大的价值放在防止损失而不是获得收益上。这也可以解释不同群体之间的行为差异，例如男性比女性更少规避风险，因为男性比女性有更多的可变的繁殖成功。虽然不成功的冒险行为可能会限制两性的繁殖成功，但雄性比雌性更有可能通过成功的冒险行为来提高繁殖成功率。
=== Artificial intelligence ===
{{Main|Artificial intelligence}}
Much of the decisions are more and more made either by human beings with the assistance of artificial intelligent machines or wholly made by these machines. [[Tshilidzi Marwala]] and [[Evan Hurwitz]] in their book,<ref name="ReferenceA">{{cite book |last1=Marwala |first1= Tshilidzi| last2=Hurwitz |first2= Evan |title=Artificial Intelligence and Economic Theory: Skynet in the Market |year=2017 |publisher=[[Springer Science+Business Media|Springer]] |location=London |isbn=978-3-319-66104-9}}</ref> studied the utility of behavioral economics in such situations and concluded that these intelligent machines reduce the impact of bounded rational decision making. In particular, they observed that these intelligent machines reduce the degree of [[information asymmetry]] in the market, improve decision making and thus making markets more rational.
Much of the decisions are more and more made either by human beings with the assistance of artificial intelligent machines or wholly made by these machines. Tshilidzi Marwala and Evan Hurwitz in their book, studied the utility of behavioral economics in such situations and concluded that these intelligent machines reduce the impact of bounded rational decision making. In particular, they observed that these intelligent machines reduce the degree of information asymmetry in the market, improve decision making and thus making markets more rational.
许多决策越来越多地由人类在人工智能机器的帮助下做出，或者完全由这些机器做出。和 Evan Hurwitz 在他们的书中，研究了行为经济学在这种情况下的效用，并得出结论，这些智能机器减少了有限理性决策的影响。特别是，他们观察到这些智能机器降低了市场的信息不对称，改善了决策，从而使市场更加理性。
The use of AI machines in the market in applications such as online trading and decision making has changed major economic theories.<ref name="ReferenceA"/> Other theories where AI has had impact include in [[rational choice]], [[rational expectations]], [[game theory]], [[Lewis turning point]], [[portfolio optimization]] and [[counterfactual thinking]].
The use of AI machines in the market in applications such as online trading and decision making has changed major economic theories. Other theories where AI has had impact include in rational choice, rational expectations, game theory, Lewis turning point, portfolio optimization and counterfactual thinking.
人工智能机器在市场上的应用，如在线交易和决策，改变了主要的经济理论。人工智能影响的其他理论包括理性选择、理性预期、博弈论、刘易斯转折点、投资组合优化和反事实思维。
== Related fields ==
=== Experimental economics ===
{{Main|Experimental economics}}
Experimental economics is the application of [[Experiment|experimental methods]], including [[statistical]], [[econometric]], and [[computational economics|computational]],<ref>{{cite journal | last1 = Roth | first1 = Alvin E. | authorlink = Alvin E. Roth | year = 2002 | title = The Economist as Engineer: Game Theory, Experimentation, and Computation as Tools for Design Economics | url = http://kuznets.fas.harvard.edu/~aroth/papers/engineer.pdf | format = PDF | journal = Econometrica | volume = 70 | issue = 4| pages = 1341–1378 | doi = 10.1111/1468-0262.00335 }}</ref> to study economic questions. [[Economic data|Data]] collected in experiments are used to estimate [[effect size]], test the validity of economic theories, and illuminate market mechanisms. Economic experiments usually use cash to motivate subjects, in order to mimic real-world incentives. Experiments are used to help understand how and why markets and other exchange systems function as they do. Experimental economics have also expanded to understand institutions and the law (experimental law and economics).<ref>{{cite journal | last1 = See | first1 = | authorlink2 = Kristoffel Grechenig | last2 = Grechenig | first2 = K. | last3 = Nicklisch | first3 = A. | last4 = Thöni | first4 = C. | year = 2010 | title = Punishment despite reasonable doubt—a public goods experiment with sanctions under uncertainty | url = http://ssrn.com/abstract=1586775 | journal = Journal of Empirical Legal Studies | volume = 7 | issue = 4| pages = 847–867 }}</ref>
Experimental economics is the application of experimental methods, including statistical, econometric, and computational, to study economic questions. Data collected in experiments are used to estimate effect size, test the validity of economic theories, and illuminate market mechanisms. Economic experiments usually use cash to motivate subjects, in order to mimic real-world incentives. Experiments are used to help understand how and why markets and other exchange systems function as they do. Experimental economics have also expanded to understand institutions and the law (experimental law and economics).
实验经济学是实验方法的应用，包括统计学、计量经济学和计算经济学，以研究经济问题。实验中收集的数据用于估计效果大小，检验经济理论的有效性，并阐明市场机制。经济实验通常使用现金来激励受试者，以模仿现实世界的激励。实验被用来帮助理解市场和其他交易系统是如何以及为什么这样运作的。实验经济学还扩展到对机构和法律(实验法律和经济学)的理解。
A fundamental aspect of the subject is [[design of experiments]]. Experiments may be conducted in the [[Field experiments|field]] or in laboratory settings, whether of [[Experimental psychology|individual]] or [[Social psychology|group]] behavior.<ref>• [[Vernon L. Smith]], 2008a. "experimental methods in economics," ''[[The New Palgrave Dictionary of Economics]]'', 2nd Edition, [http://www.dictionaryofeconomics.com/article?id=pde2008_E000186&q=Experimental%20economics&topicid=&result_number=2 Abstract.]
A fundamental aspect of the subject is design of experiments. Experiments may be conducted in the field or in laboratory settings, whether of individual or group behavior.<ref>• Vernon L. Smith, 2008a. "experimental methods in economics," The New Palgrave Dictionary of Economics, 2nd Edition, [http://www.dictionaryofeconomics.com/article?id=pde2008_E000186&q=Experimental%20economics&topicid=&result_number=2 Abstract.]
这门学科的一个基本方面是实验设计。实验可以在野外进行，也可以在实验室环境中进行，无论是个人行为还是群体行为。 文件编号: Vernon l. Smith，2008 a。“经济学中的实验方法” ，新帕尔格雷夫经济学词典，第二版，[ http://www.dictionaryofeconomics.com/article?id=pde2008_e000186&q=experimental%20economics&topicid=&result_number=2摘要]
<br /> • _____, 2008b. "experimental economics," ''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_E000277&q=experimental%20&topicid=&result_number=2 Abstract.]<br /> • Relevant subcategories are found at the ''Journal of Economic Literature'' classification codes at [[JEL classification codes#Mathematical and quantitative methods JEL: C Subcategories|JEL: C9]].</ref>
<br /> • _____, 2008b. "experimental economics," The New Palgrave Dictionary of Economics, 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_E000277&q=experimental%20&topicid=&result_number=2 Abstract.]<br /> • Relevant subcategories are found at the Journal of Economic Literature classification codes at JEL: C9.</ref>
<br /> • _____, 2008b.“实验经济学” ，新帕尔格雷夫经济学词典，第二版。[ http://www.dictionaryofeconomics.com/article?id=pde2008_e000277&q=experimental%20&topicid=&result_number=2摘要。[ br / •相关的子类别见于《经济文献杂志》的分类代码 JEL: C9. / ref
Variants of the subject outside such formal confines include [[natural experiment|natural]] and [[quasi-natural experiment]]s.<ref>J. DiNardo, 2008. "natural experiments and quasi-natural experiments," ''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_N000142&edition=current&q Abstract.]</ref>
Variants of the subject outside such formal confines include natural and quasi-natural experiments.
在这种正式的范围之外，主题的变体包括自然实验和准自然实验。
=== Neuroeconomics ===
{{Main|Neuroeconomics}}
Neuroeconomics is an [[Interdisciplinarity|interdisciplinary]] field that seeks to explain human [[decision making]], the ability to process multiple alternatives and to follow a course of action. It studies how economic behavior can shape our understanding of the [[brain]], and how neuroscientific discoveries can constrain and guide models of economics.<ref name="neuroeconomics.duke.edu">{{cite web|url =https://dibs.duke.edu/centers/d-cides/about/research|title = Research|website = Duke Institute for Brain Sciences}}</ref>
Neuroeconomics is an interdisciplinary field that seeks to explain human decision making, the ability to process multiple alternatives and to follow a course of action. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can constrain and guide models of economics.
神经经济学是一个跨学科的领域，旨在解释人类决策，处理多种选择的能力，并遵循一个行动过程。它研究经济行为如何塑造我们对大脑的理解，以及神经科学的发现如何约束和指导经济学模型。
It combines research methods from [[neuroscience]], [[Experimental economics|experimental]] and behavioral economics, and [[Cognitive psychology|cognitive]] and [[Social psychology|social]] psychology.<ref name="LevalloisClithero2012">{{cite journal|last1=Levallois|first1=Clement|last2=Clithero|first2=John A.|last3=Wouters|first3=Paul|last4=Smidts|first4=Ale|last5=Huettel|first5=Scott A.|title=Translating upwards: linking the neural and social sciences via neuroeconomics|journal=Nature Reviews Neuroscience|volume=13|issue=11|year=2012|pages=789–797|issn=1471-003X|doi=10.1038/nrn3354|pmid=23034481}}</ref> As research into decision-making behavior becomes increasingly computational, it has also incorporated new approaches from [[theoretical biology]], [[computer science]], and [[mathematics]]. Neuroeconomics studies decision making by using a combination of tools from these fields so as to avoid the shortcomings that arise from a single-perspective approach. In [[mainstream economics]], [[Expected utility hypothesis|expected utility]] (EU) and the concept of [[rational agents]] are still being used. Many economic behaviors are not fully explained by these models, such as [[heuristics]] and [[Framing (social sciences)|framing]].<ref name="annualreviews.org">{{cite journal | last1 = Loewenstein | first1 = G. | last2 = Rick | first2 = S. | last3 = Cohen | first3 = J. | year = 2008 | title = Neuroeconomics| url = | journal = Annual Reviews | volume = 59 | issue = | pages = 647–672 | doi = 10.1146/annurev.psych.59.103006.093710 | pmid = 17883335 }}</ref>
It combines research methods from neuroscience, experimental and behavioral economics, and cognitive and social psychology. As research into decision-making behavior becomes increasingly computational, it has also incorporated new approaches from theoretical biology, computer science, and mathematics. Neuroeconomics studies decision making by using a combination of tools from these fields so as to avoid the shortcomings that arise from a single-perspective approach. In mainstream economics, expected utility (EU) and the concept of rational agents are still being used. Many economic behaviors are not fully explained by these models, such as heuristics and framing.
它结合了神经科学、实验和行为经济学以及认知和社会心理学的研究方法。随着对决策行为的研究变得越来越计算化，它也吸收了来自理论生物学、计算机科学和数学的新方法。神经经济学研究决策制定，使用来自这些领域的工具的组合，以避免出现的缺点，从一个单一的观点方法。在主流经济学中，预期效用(EU)和理性主体的概念仍然被使用。许多经济行为并没有完全用这些模型来解释，比如启发式和框架式。
Behavioral economics emerged to account for these anomalies by integrating social, cognitive, and emotional factors in understanding economic decisions. Neuroeconomics adds another layer by using neuroscientific methods in understanding the interplay between economic behavior and neural mechanisms. By using tools from various fields, some scholars claim that neuroeconomics offers a more integrative way of understanding decision making.<ref name="neuroeconomics.duke.edu" />
Behavioral economics emerged to account for these anomalies by integrating social, cognitive, and emotional factors in understanding economic decisions. Neuroeconomics adds another layer by using neuroscientific methods in understanding the interplay between economic behavior and neural mechanisms. By using tools from various fields, some scholars claim that neuroeconomics offers a more integrative way of understanding decision making.
行为经济学在理解经济决策时综合了社会、认知和情感因素，从而解释了这些异常现象。神经经济学通过使用神经科学的方法增加了另一层，以理解经济行为和神经机制之间的相互作用。通过使用来自不同领域的工具，一些学者声称，神经经济学提供了一种更加综合的方式来理解决策。
== Notable people ==
=== Economics ===
{{div col|colwidth=20em}}
* [[George Akerlof]]
* [[Werner De Bondt]]
* [[Paul De Grauwe]]<ref>{{Cite web|url=https://voxeu.org/article/behavioural-economics-also-useful-macroeconomics|title=Behavioural economics is also useful in macroeconomics|first1=Paul De|last1=Grauwe|first2=Yuemei|last2=Ji|date=November 1, 2017}}</ref>
* [[Linda C. Babcock]]
* [[Douglas Bernheim]]<ref>{{cite web |ref=harv |last1=Bernheim| first1=Douglas |last2=Rangel |first2=Antonio |year=2008 |title=Behavioural public economics |url=http://www.dictionaryofeconomics.com/article?id=pde2008_B000331&q=public%20&topicid=&result_number=3 |issue=2}} in {{harvnb|Palgrave|ref=Palgrave}}</ref>
* [[Colin Camerer]]
* [[Armin Falk]]
* [[Urs Fischbacher]]
*[[Tshilidzi Marwala]]
*[[Susan E. Mayer]]
* [[Ernst Fehr]]
* [[Simon Gächter]]
* [[Uri Gneezy]]<ref>{{cite web|url=http://rady.ucsd.edu/faculty/directory/gneezy/|title=Uri Gneezy|work=ucsd.edu}}</ref>
* [[David Laibson]]
* [[Louis Lévy-Garboua]]
* [[John A. List]]
* [[George Loewenstein]]
* [[Sendhil Mullainathan]]
* [[John Quiggin]]
* [[Matthew Rabin]]
* [[Reinhard Selten]]
* [[Herbert A. Simon]]
* [[Vernon L. Smith]]
* [[Robert Sugden (economist)|Robert Sugden]]<ref>{{cite web|url =https://www.uea.ac.uk/economics/people/profile/r-sugden |title=Robert Sugden}}</ref>
* [[Larry Summers]]
* [[Richard Thaler]]
{{div col end}}
=== Finance ===
{{div col|colwidth=20em}}
* [[Malcolm Baker]]
* [[Nicholas Barberis]]
* [[Gunduz Caginalp]]
* [[David Hirshleifer]]
* [[Andrew Lo]]
* [[Michael Mauboussin]]
* [[Terrance Odean]]
* [[Richard L. Peterson]]
* [[Charles Plott]]
* [[Robert Prechter]]
* [[Hersh Shefrin]]
* [[Robert Shiller]]
* [[Andrei Shleifer]]
* [[Robert Vishny]]
{{div col end}}
=== Psychology ===
{{div col|colwidth=20em}}
* [[George Ainslie (psychologist)|George Ainslie]]
* [[Dan Ariely]]<ref>{{cite web|title=Predictably Irrational|publisher=Dan Ariely|url=http://www.predictablyirrational.com/?page_id=5|accessdate=2008-04-25|archiveurl=https://web.archive.org/web/20080313201653/http://www.predictablyirrational.com/?page_id=5|archivedate=2008-03-13|url-status=dead}}</ref>
* [[Ed Diener]]
* [[Ward Edwards]]
* [[Laszlo Garai]]
* [[Gerd Gigerenzer]]
* [[Daniel Kahneman]]
* [[Ariel Kalil]]
* [[George Katona]]
* [[Walter Mischel]]
* [[Drazen Prelec]]
* [[Eldar Shafir]]
* [[Paul Slovic]]
* [[John Staddon]]<ref>{{cite book|last=Staddon|first= John|date =2017|title= Scientific Method: How science works, fails to work or pretends to work |publisher = Routledge|chapter= 6: Behavioral Economics|chapter-url =https://books.google.com/books?id=TCBBDwAAQBAJ&lpg=PP1&pg=PT103}}</ref>
* [[Amos Tversky]]
{{div col end}}
== See also ==
{{Wikipedia books|Finance}}
{{div col|colwidth=30em}}
* [[Adaptive market hypothesis]]
* [[Animal Spirits (Keynes)]]
* [[Behavioralism]]
* [[Behavioral analysis of markets]]
* [[Behavioral operations research]]
*[[Big Five personality traits]]
* [[Confirmation bias]]
* [[Cultural economics]]
* [[Culture change]]
* [[Economic sociology]]
* [[Emotional bias]]
* [[Fuzzy-trace theory]]
* [[Hindsight bias]]
* ''[[Homo reciprocans]]''
* [[List of important publications in economics#Behavioral economics|Important publications in behavioral economics]]
* [[List of cognitive biases]]
* [[Market sentiment]]
* [[Methodological individualism]]
* [[Nudge theory]]
* [[Observational techniques]]
* [[Praxeology]]
* [[Priority heuristic]]
* [[Regret (decision theory)|Regret theory]]
* [[Repugnancy costs]]
* [[Socioeconomics]]
* [[Socionomics]]
{{div col end}}
== Citations ==
{{reflist|30em}}
== References ==
* {{cite journal|doi=10.1037/h0076860|last=Ainslie|first=G.|year=1975|title=Specious Reward: A Behavioral /Theory of Impulsiveness and Impulse Control|journal=Psychological Bulletin|volume=82|issue=4|pages=463–96|pmid=1099599|ref=none|url=https://semanticscholar.org/paper/8cf0dba265275d8233b2d78c543269fedd6ff833}}
* {{cite journal|last1=Barberis|first1=N.|authorlink=Nicholas Barberis|authorlink2=Andrei Shleifer|last2=Shleifer|first2=A.|last3=Vishny|first3=R.|year=1998|title=A Model of Investor Sentiment|journal=Journal of Financial Economics|volume=49|issue=3|pages=307–43|doi=10.1016/S0304-405X(98)00027-0|url=http://jfe.rochester.edu/|accessdate=2008-04-25|ref=none|archiveurl=https://web.archive.org/web/20080420095719/http://jfe.rochester.edu/|archivedate=20 April 2008 |url-status=live}}
* {{cite journal|doi=10.1086/259394|last1=Becker |first1=Gary S.|authorlink1=Gary Becker|year=1968|title=Crime and Punishment: An Economic Approach| journal=The Journal of Political Economy|volume=76|issue=2| pages=169–217|url=http://www.nber.org/chapters/c3625.pdf }}
* {{cite journal|last1=Benartzi|first1=Shlomo|authorlink2=Richard Thaler|last2=Thaler|first2=Richard H.|year=1995|title=Myopic Loss Aversion and the Equity Premium Puzzle|journal=The Quarterly Journal of Economics|volume=110|issue=1|pages=73–92|doi=10.2307/2118511|ref=harv|jstor=2118511|url=http://www.nber.org/papers/w4369.pdf}}
* {{cite journal|last=Cunningham|first=Lawrence A.|year=2002|title=Behavioral Finance and Investor Governance|journal=Washington & Lee Law Review|volume=59|page=767|issn=1942-6658|doi=10.2139/ssrn.255778}}
* {{cite journal|last=Daniel|first=K.|authorlink2=David Hirshleifer|last2=Hirshleifer|first2=D.|last3=Subrahmanyam|first3=A.|year=1998|title=Investor Psychology and Security Market Under- and Overreactions|journal=Journal of Finance|volume=53|issue=6|pages=1839–85|doi=10.1111/0022-1082.00077|ref=none|url=https://deepblue.lib.umich.edu/bitstream/2027.42/73431/1/0022-1082.00077.pdf|hdl=2027.42/73431}}
* {{cite book|first1=Peter |last1=Diamond |author-link1=Peter A. Diamond|first2=Hannu |last2=Vartiainen|title=Behavioral Economics and Its Applications|url={{google books |plainurl=y |id=1-SVhlC9mVoC}}|year= 2012|publisher=Princeton University Press|isbn=978-1-4008-2914-9}}
* {{cite book|editor-first1=John |editor-last1=Eatwell|editor-first2=Murray |editor-last2=Milgate|editor-first3=Peter |editor-last3=Newman|title=The New Palgrave: A Dictionary of Economics|url={{google books |plainurl=y |id=9I2voAEACAAJ}}|year=1988|publisher=Macmillan|isbn=978-0-935859-10-2 |ref=Palgrave}}
** {{cite encyclopedia |last=Augier |first=Mie |url=http://www.dictionaryofeconomics.com/article?id=pde2008_S000455&q=behavioural&topicid=&result_number=8 |title=Simon, Herbert A. (1916–2001)}}
** {{cite encyclopedia|last1=Bernheim|first1=B. Douglas|first2=Antonio|last2=Rangel |url=http://www.dictionaryofeconomics.com/article?id=pde2008_B000331&q=public%20&topicid=&result_number=3 |title=Behavioral public economics}}
** {{cite encyclopedia|last1=Bloomfield|first1=Robert |url=http://www.dictionaryofeconomics.com/article?id=pde2008_B000339&q=Behavioral%20economics%20&topicid=&result_number=5 |title=Behavioral finance}}
** {{cite encyclopedia|last=Simon|first=Herbert A |url=http://www.dictionaryofeconomics.com/article?id=pde2008_B000176&q=behavioural%20economics&topicid=&result_number=4 |title=Rationality, bounded}}
* {{cite journal |title=Loss Aversion and Seller Behavior: Evidence from the Housing Market |first1=David |last1=Genesove |first2=Christopher |last2=Mayer |date=March 2001 |journal=Quarterly Journal of Economics |volume=116 |issue=4 |pages=1233–1260 |doi=10.1162/003355301753265561 |ref=none|url=http://www.nber.org/papers/w8143.pdf }}
* {{cite encyclopedia|first1=S.|last1=Mullainathan|authorlink1=Sendhil Mullainathan|authorlink2=Richard Thaler|last2=Thaler|first2=R. H.|year=2001|chapter=Behavioral Economics|encyclopedia=[[International Encyclopedia of the Social & Behavioral Sciences]]|pages=1094–1100 |doi=10.1016/B0-08-043076-7/02247-6 |isbn=9780080430768}}
* {{Cite book |title=Reconsidering Identity Economics|last=Garai|first=Laszlo|authorlink=Garai Laszlo|date=2016-12-01|publisher=Palgrave Macmillan US|isbn=9781137525604|location=New York|pages=35–40|language=en|doi=10.1057/978-1-137-52561-1_3|chapter=Identity Economics: "An Alternative Economic Psychology"}}
* {{Cite web |ssrn=2435111 |url=http://papers.ssrn.com|access-date=2018-06-02|first=E. |last=McGaughey|title=Behavioural Economics and Labour Law|year=2014|number=LSE Legal Studies Working Paper No. 20/2014}}
* {{cite book|title=Behavioural Finance for Private Banking|last=Hens|first=Thorsten|author2=Bachmann, Kremena|year=2008|publisher=Wiley Finance Series|isbn=978-0-470-77999-6|url=http://www.bfpb.ch}}
* {{cite book|title=Rational Choice: The Contrast between Economics and Psychology|last=Hogarth|first=R. M.|last2=Reder|first2=M. W.|year=1987|publisher=University of Chicago Press|location=Chicago|isbn=978-0-226-34857-5|ref=harv|url-access=registration|url=https://archive.org/details/rationalchoice}}
* {{cite journal|last1=Kahneman|first1=Daniel|authorlink1=Daniel Kahneman|authorlink2=Amos Tversky|last2=Tversky|first2=Amos|year=1979|title=Prospect Theory: An Analysis of Decision under Risk|journal=Econometrica|volume=47|issue=2|pages=263–91|doi=10.2307/1914185|jstor=1914185|ref=none|citeseerx=10.1.1.407.1910}}
* {{cite book |last=Kahneman|first=Daniel|first2=Ed |last2=Diener|year=2003|title=Well-being: the foundations of hedonic psychology|publisher=[[Russell Sage Foundation]]|authorlink=Daniel Kahneman|ref=harv}}
* {{cite book|title=Technical Analysis: The Complete Resource for Financial Market Technicians|last1=Kirkpatrick|first1=Charles D.|last2=Dahlquist|first2=Julie R.|year=2007|publisher=Financial Times Press|location=Upper Saddle River, NJ|isbn=978-0-13-153113-0|ref=harv}}
* {{cite book|url={{google books |plainurl=y |id=HlKBaiCpSxYC|age=7}}|title=Private Truths, Public Lies: The Social Consequences of Preference Falsification|last=Kuran|first=Timur|authorlink=Timur Kuran|publisher=Harvard University Press|year=1997|isbn=978-0-674-70758-0|pages=7–}} [http://www.hup.harvard.edu/catalog.php?isbn=9780674707580 Description]
* {{cite book|last=Luce|first=R Duncan|title=Utility of Gains and Losses: Measurement-theoretical and Experimental Approaches|publisher=Lawrence Erlbaum Publishers|year=2000|location=Mahwah, New Jersey|authorlink=R. Duncan Luce|isbn=978-0-8058-3460-4|ref=harv}}
* {{cite book |first1=Charles R. |last1=Plott |authorlink1=Charles R. Plott |first2=Vernon L. |last2=Smith |editor-link2=Vernon L. Smith |year=2008 |title=Handbook of Experimental Economics Results |volume= 1 |publisher=Elsevier |url={{google books |plainurl=y |id=wAK_aKs3EPoC}} |ref=none}} Chapter-preview [http://www.sciencedirect.com/science?_ob=PublicationURL&_hubEid=1-s2.0-S1574072207X00015&_cid=277334&_pubType=HS&_auth=y&_acct=C000228598&_version=1&_urlVersion=0&_userid=10&md5=49f8b6d5e3024eac39ed5fad351fe568 links].
* {{cite journal|last=Rabin |first=Matthew |authorlink=Matthew Rabin |year=1998 |title=Psychology and Economics |journal=Journal of Economic Literature |volume=36 |issue=1 |pages=11–46 |url=http://pages.towson.edu/jpomy/behavioralecon/PsychologyandEconomicsRabin98JEL.pdf |ref=harv |url-status=dead|archiveurl=https://web.archive.org/web/20110927133547/http://pages.towson.edu/jpomy/behavioralecon/PsychologyandEconomicsRabin98JEL.pdf |archivedate=September 27, 2011 }}
* {{cite journal|last=Shefrin |first=Hersh|url=http://forecastingprinciples.com/files/pdf/Shefrin%202002.pdf |title= Behavioral decision making, forecasting, game theory, and role-play |journal=International Journal of Forecasting |volume=18 |issue=3|pages=375–382|year=2002 |ref=harv|doi=10.1016/S0169-2070(02)00021-3}}
* {{cite book|first1=Thomas C. |last1=Schelling |author-link1=Thomas C. Schelling|title=Micromotives and Macrobehavior|url={{google books |plainurl=y |id=DenWKRgqzWMC}}|year= 2006|publisher=W. W. Norton|isbn=978-0-393-06977-8}} [https://web.archive.org/web/20171102093240/http://books.wwnorton.com/books/978-0-393-32946-9/ Description]
* {{cite book|title=Inefficient Markets: An Introduction to Behavioral Finance|last=Shleifer|first=Andrei|authorlink=Andrei Shleifer|year=1999|publisher=Oxford University Press|location=New York|isbn=978-0-19-829228-9|url=https://archive.org/details/inefficientmarke00andr}}
* {{cite encyclopedia|authorlink=Herbert A. Simon|last=Simon|first=Herbert A.|year=1987|title=Behavioral Economics|encyclopedia=[[The New Palgrave: A Dictionary of Economics]]|volume=1|pages=221–24}}
* {{cite journal | last1 = Thaler | first1 = Richard H | year = 2016 | title = Behavioral Economics: Past, Present, and Future | url = https://www.aeaweb.org/articles?id=10.1257/aer.106.7.1577 | journal = American Economic Review | volume = 106 | issue = 7| pages = 1577–1600 | doi = 10.1257/aer.106.7.1577 }}
*{{cite encyclopedia |last1=Thaler |first1=Richard H. |authorlink1= Richard Thaler |last2=Mullainathan |first2=Sendhil |editor= [[David R. Henderson]] |encyclopedia=[[Concise Encyclopedia of Economics]] |title=Behavioral Economics |url=http://www.econlib.org/library/Enc/BehavioralEconomics.html |year=2008 |edition= 2nd |publisher=[[Library of Economics and Liberty]] |location=Indianapolis |isbn=978-0-86597-665-8 |oclc=237794267}}
* {{cite encyclopedia |last1=Wheeler |first1=Gregory |authorlink1= Gregory Wheeler | editor= [[Edward Zalta]] |encyclopedia=[[Stanford Encyclopedia of Philosophy]] | title=Bounded Rationality |url=https://plato.stanford.edu/entries/bounded-rationality |year=2018 |location= Stanford, CA}}
*{{cite web|url=http://leconcurrentialiste.com/2014/04/23/behavioral-economics-in-u-s-antitrust-scholarly-papers/|title=Behavioral economics in U.S. (antitrust) scholarly papers|work=Le Concurrentialiste}}
== External links ==<!-- This section is linked from [[Behavioral finance]] -->
== External links ==<!-- This section is linked from Behavioral finance -->
外部链接! -- 这一部分链接来自行为金融学 --
{{wikiquote}}
* [http://www.behavioraleconomics.com/ The Behavioral Economics Guide]
* [http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1488110 Overview of Behavioral Finance]
* [http://www.dremanbehavioralfinance.org/ The Institute of Behavioral Finance]
* [http://economicspsychologypolicy.blogspot.co.uk/ Stirling Behavioural Science Blog], of the Stirling Behavioural Science Centre at [[University of Stirling]]
* [https://web.archive.org/web/20120110110918/http://www.sabeonline.org/ Society for the Advancement of Behavioural Economics]
* [http://www.usapr.org/papers/paper.aspx?PaperID=30 Behavioral Economics: Past, Present, Future] – Colin F. Camerer and George Loewenstein
* [http://www.moneyscience.com/pg/blog/Admin/read/50567/a-history-of-behavioural-finance-in-published-research-1944-1988 A History of Behavioural Finance / Economics in Published Research: 1944–1988]
* [https://web.archive.org/web/20151017010637/http://www.essex.ac.uk/coursefinder/course_details.aspx?course=MSC+L11912 MSc Behavioural Economics], MSc in Behavioural Economics at the University of Essex
* [http://www.okanduru.com/becon.htm Behavioral Economics of Shipping Business]
{{Microeconomics}}
{{Instecon}}
{{Schools of economic thought}}
{{Authority control}}
[[Category:Behavioral economics| ]]
[[Category:Behavioral finance]]
Category:Behavioral finance
分类: 行为金融学
[[Category:Financial economics]]
Category:Financial economics
类别: 金融经济学
[[Category:Market trends]]
Category:Market trends
类别: 市场趋势
[[Category:Microeconomics]]
Category:Microeconomics
类别: 微观经济学
[[Category:Prospect theory]]
Category:Prospect theory
范畴: 展望理论
<noinclude>
<small>This page was moved from [[wikipedia:en:Behavioral economics]]. Its edit history can be viewed at [[行为经济学/edithistory]]</small></noinclude>
[[Category:待整理页面]]
{{Economics sidebar}}
{{Nudge Theory}}
[[File:Nudge.jpg|thumb|right|200px|The behavioral economics concept of "nudging" people's behavior and actions is often illustrated with this urinal with a housefly image embossed in the enamel; the image "nudges" users into improving their aim, which lowers cleaning costs.]]
The behavioral economics concept of "nudging" people's behavior and actions is often illustrated with this urinal with a housefly image embossed in the enamel; the image "nudges" users into improving their aim, which lowers cleaning costs.
“轻推”人们的行为和动作的行为经济学概念通常用这个小便池来说明，小便池的珐琅上浮雕着家蝇的图像; 这个图像“轻推”使用者提高他们的目标，从而降低了清洁成本。
'''Behavioral economics''' studies the effects of [[psychological]], [[cognitive bias|cognitive]], emotional, cultural and social factors on the [[decision making|decisions]] of individuals and institutions and how those decisions vary from those implied by classical economic theory.<ref name="ssrn.com">{{cite journal|ssrn=2040946|title=A Behavioral Framework for Securities Risk|publisher =SSRN|last = Lin|first = Tom C. W. |date = 16 April 2012|journal = Seattle University Law Review}}</ref><ref name=":0">{{Cite journal|last=[[Kathryn Zeiler|Zeiler]]|first=Kathryn|last2=Teitelbaum|first2=Joshua|date=2018-03-30|title=Research Handbook on Behavioral Law and Economics|url=https://scholarship.law.bu.edu/books/35|journal=Books}}</ref>
Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors on the decisions of individuals and institutions and how those decisions vary from those implied by classical economic theory.
行为经济学研究心理、认知、情感、文化和社会因素对个人和机构决策的影响，以及这些决策如何不同于经典经济理论所暗示的决策。
Behavioral economics is primarily concerned with the [[bounded rationality|bounds]] of [[rationality]] of [[economic agent]]s. Behavioral models typically integrate insights from [[psychology]], [[neuroscience]] and [[Microeconomics|microeconomic theory]].<ref>{{cite web|title=Search of ''behavioural economics'' |url=http://www.dictionaryofeconomics.com/search_results?q=behavioural+economics+&edition=current&button_search=GO}} in {{harvnb|Palgrave|ref=Palgrave}}</ref><ref name="MintonKahle2013">{{cite book|first1=Elizabeth A. |last1=Minton|first2=Lynn R. |last2=Kahle|title=Belief Systems, Religion, and Behavioral Economics: Marketing in Multicultural Environments|url={{google books |plainurl=y |id=hk5pngEACAAJ}}|year=2013|publisher=Business Expert Press|isbn=978-1-60649-704-3}}</ref> The study of behavioral economics includes how [[Market (economics)|market]] decisions are made and the mechanisms that drive [[public choice]]. The three prevalent themes in behavioral economics are:{{sfn|Shefrin|2002}}
Behavioral economics is primarily concerned with the bounds of rationality of economic agents. Behavioral models typically integrate insights from psychology, neuroscience and microeconomic theory. The study of behavioral economics includes how market decisions are made and the mechanisms that drive public choice. The three prevalent themes in behavioral economics are:
行为经济学主要研究经济行为主体的理性界限。行为模型通常综合了心理学、神经科学和微观经济学理论的见解。行为经济学的研究包括市场决策是如何做出的，以及驱动公共选择的机制。行为经济学中三个流行的主题是:
* [[Heuristics in judgment and decision making|Heuristics]]: Humans make 95% of their decisions using mental shortcuts or [[rules of thumb]].{{Citation needed|date=May 2020}}
* [[Framing (social sciences)|Framing]]: The collection of [[anecdote]]s and [[stereotype]]s that make up the mental filters individuals rely on to understand and respond to events.
* [[Market anomaly|Market inefficiencies]]: These include [[price mechanism|mis-pricing]] and [[rationality|non-rational decision making]].
In 2002, psychologist [[Daniel Kahneman]] was awarded the [[Nobel Memorial Prize in Economic Sciences]] "for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty."<ref name="Winners2002">{{cite web|url=http://nobelprize.org/nobel_prizes/economics/laureates/2002/|title=The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2002|publisher=Nobel Foundation|accessdate=2008-10-14}}</ref> In 2013, economist [[Robert J. Shiller]] received the [[Nobel Memorial Prize in Economic Sciences]] "for his empirical analysis of asset prices" (within the field of [[#Behavioral finance|behavioral finance]]).<ref>{{cite web|url=https://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2013/|title=The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2013|publisher=Nobel Foundation|accessdate=2016-07-01}}</ref> In 2017, economist [[Richard Thaler]] was awarded the [[Nobel Memorial Prize in Economic Sciences]] for "his contributions to behavioral economics and his pioneering work in establishing that people are predictably irrational in ways that defy economic theory."<ref>{{Cite news|url=https://www.nytimes.com/2017/10/09/business/nobel-economics-richard-thaler.html|title=Nobel in Economics is Awarded to Richard Thaler|last=Appelbaum|first=Binyamin|date=2017-10-09|work=The New York Times|access-date=2017-11-04}}</ref><ref>{{Cite news|url=http://lucidez.pe/economia/richard-thaler-y-el-auge-de-la-economia-conductual-por-marco-carrasco/|title=Richard Thaler y el auge de la Economía Conductual|last=Carrasco-Villanueva|first=Marco|date=2017-10-18|language=es|work=Lucidez|access-date=2018-10-31}}</ref>
In 2002, psychologist Daniel Kahneman was awarded the Nobel Memorial Prize in Economic Sciences "for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty." In 2013, economist Robert J. Shiller received the Nobel Memorial Prize in Economic Sciences "for his empirical analysis of asset prices" (within the field of behavioral finance). In 2017, economist Richard Thaler was awarded the Nobel Memorial Prize in Economic Sciences for "his contributions to behavioral economics and his pioneering work in establishing that people are predictably irrational in ways that defy economic theory."
2002年，心理学家丹尼尔 · 卡尼曼被授予诺贝尔经济学奖，“因为他将心理学研究的成果整合到经济科学中，特别是关于不确定条件下人类的判断和决策。”2013年，经济学家罗勃·席勒因“对资产价格的实证分析”(行为金融学领域)而获得诺贝尔经济学奖。2017年，经济学家 Richard Thaler 被授予诺贝尔经济学奖，以表彰他对行为经济学的贡献和他的开创性工作，他的工作是建立人们是怪诞行为学的方式藐视经济学理论
{{toclimit|3}}
== History <!--'Economic psychology' redirects here--> ==
[[File:Adam Smith The Muir portrait.jpg|thumb|140px|[[Adam Smith]], author of ''The Wealth of Nations'' (1776) and ''The Theory of Moral Sentiments'' (1759).]]
[[Adam Smith, author of The Wealth of Nations (1776) and The Theory of Moral Sentiments (1759).]]
[亚当史密斯，《国富论》(1776)和《道德情操论》(1759)的作者]
During the [[classical economics|classical period]] of economics, microeconomics was closely linked to psychology. For example, [[Adam Smith]] wrote ''[[The Theory of Moral Sentiments]]'', which proposed psychological explanations of individual behavior, including concerns about fairness and [[justice (economics)|justice]].<ref>{{cite journal |first1=Nava |last1=Ashraf |first2=Colin F. |last2=Camerer |first3=George |last3=Loewenstein |year=2005 |title=Adam Smith, Behavioral Economist |journal=[[Journal of Economic Perspectives]] |volume=19 |issue=3 |url=http://webserver1.pugetsound.edu/facultypages/gmilam/courses/econ291/readings/ASmithBenEcon.pdf |doi=10.1257/089533005774357897 |pages=131–45 |access-date=2011-12-20 |archive-url=https://web.archive.org/web/20120417093442/http://webserver1.pugetsound.edu/facultypages/gmilam/courses/econ291/readings/ASmithBenEcon.pdf |archive-date=2012-04-17 |url-status=dead }}.</ref> [[Jeremy Bentham]] wrote extensively on the psychological underpinnings of [[utility]]. Then, during the development of [[neo-classical economics]], economists sought to reshape the discipline as a [[natural science]], deducing behavior from assumptions about the nature of economic agents. They developed the concept of [[homo economicus]], whose behavior was fundamentally rational.
During the classical period of economics, microeconomics was closely linked to psychology. For example, Adam Smith wrote The Theory of Moral Sentiments, which proposed psychological explanations of individual behavior, including concerns about fairness and justice. Jeremy Bentham wrote extensively on the psychological underpinnings of utility. Then, during the development of neo-classical economics, economists sought to reshape the discipline as a natural science, deducing behavior from assumptions about the nature of economic agents. They developed the concept of homo economicus, whose behavior was fundamentally rational.
在古典经济学时期，微观经济学与心理学有着密切的联系。例如，亚当斯密写的《道德情操论，提出了个人行为的心理学解释，包括对公平和正义的关注。杰里米 · 边沁写了大量关于效用的心理学基础的文章。然后，在新古典经济学的发展过程中，经济学家试图将该学科重塑为一门自然科学，通过对经济行为主体性质的假设来推断行为。他们提出了经济人的概念，他们的行为基本上是理性的。
Neo-classical economists did incorporate psychological explanations: this was true of [[Francis Edgeworth]], [[Vilfredo Pareto]] and [[Irving Fisher]]. '''Economic psychology''' emerged in the 20th century in the works of [[Gabriel Tarde]],<ref>{{cite web |last=Tarde |first=G. |url = http://classiques.uqac.ca/classiques/tarde_gabriel/psycho_economique_t1/psycho_eco_t1.html |title=Psychologie économique |year=1902 |language = French}}</ref> [[George Katona]],<ref name="Katona2011">{{cite book|first=George |last=Katona|title=The Powerful Consumer: Psychological Studies of the American Economy|url={{google books |plainurl=y |id=jmdEywAACAAJ}}|year= 2011|publisher=Literary Licensing, LLC|isbn=978-1-258-21844-7}}</ref> and [[Laszlo Garai]].<ref name="Garai" /> [[Expected utility]] and [[discounted utility]] models began to gain acceptance, generating testable [[hypotheses]] about decision-making given [[uncertainty]] and [[intertemporal consumption]], respectively. Observed and repeatable anomalies eventually challenged those hypotheses, and further steps were taken by [[Maurice Allais]], for example, in setting out the [[Allais paradox]], a decision problem he first presented in 1953 that contradicts the expected utility hypothesis.
Neo-classical economists did incorporate psychological explanations: this was true of Francis Edgeworth, Vilfredo Pareto and Irving Fisher. Economic psychology emerged in the 20th century in the works of Gabriel Tarde, George Katona, and Laszlo Garai. Expected utility and discounted utility models began to gain acceptance, generating testable hypotheses about decision-making given uncertainty and intertemporal consumption, respectively. Observed and repeatable anomalies eventually challenged those hypotheses, and further steps were taken by Maurice Allais, for example, in setting out the Allais paradox, a decision problem he first presented in 1953 that contradicts the expected utility hypothesis.
新古典主义经济学家的确纳入了心理学的解释: 弗朗西斯•埃奇沃思(Francis Edgeworth)、维尔弗雷多•帕累托(Vilfredo Pareto)和欧文•费雪(Irving Fisher)就是如此。经济心理学出现在20世纪的加布里埃尔 · 塔尔德，乔治 · 卡托纳和拉斯洛 · 加莱的著作中。期望效用模型和贴现效用模型开始被接受，分别产生了关于不确定性和跨期消费的决策可检验性假设。观察到的和可重复的异常最终挑战了这些假说，并采取了进一步的步骤，例如，在设定阿莱悖论，一个决策问题，他第一次提出在1953年，反对预期效用假说。
In the 1960s [[cognitive psychology]] began to shed more light on the brain as an information processing device (in contrast to [[behaviorism|behaviorist]] models). Psychologists in this field, such as Ward Edwards,<ref name=ward>{{cite web|title=Ward Edward Papers|publisher=Archival Collections|url=http://www.usc.edu/libraries/archives/arc/libraries/collections/records/427home.html|accessdate=2008-04-25|archiveurl=https://web.archive.org/web/20080416235453/http://www.usc.edu/libraries/archives/arc/libraries/collections/records/427home.html|archivedate=2008-04-16|url-status=dead}}</ref> [[Amos Tversky]] and [[Daniel Kahneman]] began to compare their cognitive models of decision-making under risk and uncertainty to economic models of rational behavior. [[Mathematical psychology]] reflects a longstanding interest in preference transitivity and the measurement of utility.{{sfn|Luce|2000}}
In the 1960s cognitive psychology began to shed more light on the brain as an information processing device (in contrast to behaviorist models). Psychologists in this field, such as Ward Edwards, Amos Tversky and Daniel Kahneman began to compare their cognitive models of decision-making under risk and uncertainty to economic models of rational behavior. Mathematical psychology reflects a longstanding interest in preference transitivity and the measurement of utility.
在20世纪60年代，认知心理学开始将大脑作为一种信息处理设备(与行为主义模型形成对比)给予更多的关注。这一领域的心理学家，如沃德 · 爱德华兹、阿莫斯 · 特沃斯基和丹尼尔 · 卡尼曼，开始将他们对风险和不确定性下决策的认知模型与理性行为的经济模型进行比较。数学心理学反映了人们对偏好传递性和效用度量的长期兴趣。
=== Bounded rationality ===
[[File:Herbert simon red complete.jpg|thumb|left|140px|[[Herbert A. Simon]], winner of the 1975 Turing award and the 1978 Nobel Prize in economics]]
[[Herbert A. Simon, winner of the 1975 Turing award and the 1978 Nobel Prize in economics]]
[赫伯特·西蒙，1975年图灵奖和1978年诺贝尔经济学奖得主]
[[Bounded rationality]] is the idea that when individuals make decisions, their [[rationality]] is limited by the tractability of the decision problem, their cognitive limitations and the time available. Decision-makers in this view act as [[satisficer]]s, seeking a satisfactory solution rather than an optimal one. [[Herbert A. Simon]] proposed bounded rationality as an alternative basis for the mathematical modeling of [[decision-making]]. It complements "rationality as optimization", which views decision-making as a fully rational process of finding an optimal choice given the information available.<ref name=bounded_rationality_1999>{{cite book|url={{google books |plainurl=y |id=dVMq5UoYS3YC}} |first=Gerd|last=Gigerenzer|first2=Reinhard|last2=Selten|title=Bounded Rationality: The Adaptive Toolbox|publisher=MIT Press|year=2002|isbn=978-0-262-57164-7}}</ref> Simon used the analogy of a pair of scissors, where one blade represents human cognitive limitations and the other the "structures of the environment", illustrating how minds compensate for limited resources by exploiting known structural regularity in the environment.<ref name=bounded_rationality_1999/>
Bounded rationality is the idea that when individuals make decisions, their rationality is limited by the tractability of the decision problem, their cognitive limitations and the time available. Decision-makers in this view act as satisficers, seeking a satisfactory solution rather than an optimal one. Herbert A. Simon proposed bounded rationality as an alternative basis for the mathematical modeling of decision-making. It complements "rationality as optimization", which views decision-making as a fully rational process of finding an optimal choice given the information available. Simon used the analogy of a pair of scissors, where one blade represents human cognitive limitations and the other the "structures of the environment", illustrating how minds compensate for limited resources by exploiting known structural regularity in the environment.
有限理性是这样一种观点，即当个体做出决策时，他们的理性受到决策问题的可处理性、他们的认知局限性和可用时间的限制。这种观点认为，决策者作为满足者，寻求一个令人满意的解决方案，而不是最佳的解决方案。赫伯特·西蒙提出用有限理性作为决策数学模型的替代基础。它补充了“理性即优化”的观点，这种观点认为，决策是一个完全理性的过程，找到一个最佳的选择给予信息。西蒙用一把剪刀的比喻，一把刀片代表人类认知的局限性，而另一把刀片代表”环境的结构” ，说明人类如何通过利用已知的环境结构规律来补偿有限的资源。
Bounded rationality implicates the idea that humans take shortcuts that may lead to suboptimal decision-making. Behavioral economists engage in mapping the decision shortcuts that agents use in order to help increase the effectiveness of human decision-making. One treatment of this idea comes from [[Cass Sunstein]] and [[Richard Thaler]]'s ''[[Nudge (book)|Nudge]]''.<ref name =nudge>{{cite book|title=Nudge: Improving Decisions about Health, Wealth, and Happiness|isbn=978-0-14-311526-7|oclc=791403664|date=April 8, 2008|publisher=Yale University Press|authors=Thaler, Richard H., Sunstein, Cass R.|title-link=Nudge (book)}}</ref><ref>{{cite book|title=Choice Architecture|authors=Thaler, Richard H., Sunstein, Cass R. and Balz, John P.|doi=10.2139/ssrn.1583509|ssrn=1583509|date=April 2, 2010}}</ref> Sunstein and Thaler recommend that choice architectures are modified in light of human agents' bounded rationality. A widely cited proposal from Sunstein and Thaler urges that healthier food be placed at sight level in order to increase the likelihood that a person will opt for that choice instead of less healthy option. Some critics of ''Nudge'' have lodged attacks that modifying choice architectures will lead to people becoming worse decision-makers.<ref>{{cite web|last1=Wright|first1=Joshua|first2=Douglas|last2=Ginsberg|title=Free to Err?: Behavioral Law and Economics and its Implications for Liberty|url=http://www.libertylawsite.org/liberty-forum/free-to-err-behavioral-law-and-economics-and-its-implications-for-liberty/|date=February 16, 2012|work=Library of Law & Liberty}}</ref><ref>{{cite book|last1=Sunstein|first1=Cass|title=Going to Extremes: How Like Minds Unite and Divide|url={{google books |plainurl=y |id=jEWplxVkEEEC}}|isbn = 9780199793143|publisher = Oxford University Press |date =2009 }}</ref>
Bounded rationality implicates the idea that humans take shortcuts that may lead to suboptimal decision-making. Behavioral economists engage in mapping the decision shortcuts that agents use in order to help increase the effectiveness of human decision-making. One treatment of this idea comes from Cass Sunstein and Richard Thaler's Nudge. Sunstein and Thaler recommend that choice architectures are modified in light of human agents' bounded rationality. A widely cited proposal from Sunstein and Thaler urges that healthier food be placed at sight level in order to increase the likelihood that a person will opt for that choice instead of less healthy option. Some critics of Nudge have lodged attacks that modifying choice architectures will lead to people becoming worse decision-makers.
有限理性暗示人类走捷径可能导致次优决策的想法。行为经济学家从事绘制决策捷径，代理人使用，以帮助提高人类决策的有效性。卡斯 · 桑斯坦和理查德 · 塞勒对这个观点的一个论述来自《轻推》。和 Thaler 建议，选择的结构应该根据人类代理人的有限理性进行修改。桑斯坦和泰勒提出的一个被广泛引用的建议是，为了增加人们选择健康食品而不是不健康食品的可能性，应该把健康食品放在视线范围内。一些对 Nudge 持批评态度的人指出，修改选择架构将导致人们成为更糟糕的决策者。
=== Prospect theory ===
[[File:Daniel KAHNEMAN.jpg|thumb|200px|[[Daniel Kahneman]], winner of the 2002 Nobel Prize in economics]]
[[Daniel Kahneman, winner of the 2002 Nobel Prize in economics]]
[丹尼尔 · 卡尼曼，2002年诺贝尔经济学奖得主]
In 1979, Kahneman and Tversky published ''[[prospect theory|Prospect Theory]]: An Analysis of Decision Under Risk'', that used cognitive psychology to explain various divergences of economic decision making from neo-classical theory.{{sfn|Kahneman|Diener|2003}} Prospect theory has two stages: an editing stage and an evaluation stage.
In 1979, Kahneman and Tversky published Prospect Theory: An Analysis of Decision Under Risk, that used cognitive psychology to explain various divergences of economic decision making from neo-classical theory. Prospect theory has two stages: an editing stage and an evaluation stage.
1979年，卡尼曼和特沃斯基发表了《前景理论: 风险下的决策分析》一书，该书利用认知心理学解释了新古典主义经济决策理论中的各种分歧。前景理论分为两个阶段: 编辑阶段和评估阶段。
In the editing stage, risky situations are simplified using various [[heuristic]]s. In the evaluation phase, risky alternatives are evaluated using various psychological principles that include:
In the editing stage, risky situations are simplified using various heuristics. In the evaluation phase, risky alternatives are evaluated using various psychological principles that include:
在编辑阶段，使用各种启发式方法简化风险情况。在评估阶段，利用各种心理学原则对风险替代办法进行评估，其中包括:
*[[Reference dependence]]: When evaluating outcomes, the decision maker considers a "reference level." Outcomes are then compared to the reference point and classified as "gains" if greater than the reference point and "losses" if less than the reference point.
* [[Loss aversion]]: Losses are avoided more than equivalent gains are sought. In their 1992 paper, Kahneman and Tversky found the median coefficient of loss aversion to be about 2.25, i.e., losses hurt about 2.25 times more than equivalent gains reward.<ref name="TverskyKahneman1992">{{cite journal|first1=Amos |last1=Tversky |first2=Daniel |last2=Kahneman |year=1992 |title=Advances in Prospect Theory: Cumulative Representation of Uncertaintly |journal=Journal of Risk and Uncertainty |volume=5 |issue=4 | pages=297–323|issn=0895-5646|doi=10.1007/BF00122574}}[https://link.springer.com/article/10.1007/BF00122574 Abstract.]</ref>
* Non-linear probability weighting: Decision makers overweigh small probabilities and underweigh large probabilities—this gives rise to the inverse-S shaped "probability weighting function."
* Diminishing sensitivity to gains and losses: As the size of the gains and losses relative to the reference point increase in absolute value, the [[marginal utility|marginal]] effect on the decision maker's utility or satisfaction falls.
Prospect theory is able to explain everything that the two main existing decision theories—[[Expected utility hypothesis|expected utility theory]] and [[Rank-dependent expected utility|rank dependent utility]] theory—can explain. Further, prospect theory has been used to explain phenomena that existing decision theories have great difficulty in explaining. These include [[Backward bending supply curve of labour|backward bending labor supply curves]], asymmetric price elasticities, [[tax evasion]] and co-movement of stock prices and consumption.
Prospect theory is able to explain everything that the two main existing decision theories—expected utility theory and rank dependent utility theory—can explain. Further, prospect theory has been used to explain phenomena that existing decision theories have great difficulty in explaining. These include backward bending labor supply curves, asymmetric price elasticities, tax evasion and co-movement of stock prices and consumption.
前景理论能够解释现有的两个主要决策理论——期望效用理论和依赖秩序效用理论——所能解释的一切。此外，前景理论被用来解释现有决策理论难以解释的现象。这些因素包括向后弯曲劳动力供给曲线、不对称的价格弹性、逃税以及股票价格和消费的共同运动。
In 1992, in the ''Journal of Risk and Uncertainty'', Kahneman and Tversky gave a revised account of prospect theory that they called [[cumulative prospect theory]].<ref name="TverskyKahneman1992" /> The new theory eliminated the editing phase in prospect theory and focused just on the evaluation phase. Its main feature was that it allowed for non-linear probability weighting in a cumulative manner, which was originally suggested in [[John Quiggin]]'s rank-dependent utility theory.
In 1992, in the Journal of Risk and Uncertainty, Kahneman and Tversky gave a revised account of prospect theory that they called cumulative prospect theory. The new theory eliminated the editing phase in prospect theory and focused just on the evaluation phase. Its main feature was that it allowed for non-linear probability weighting in a cumulative manner, which was originally suggested in John Quiggin's rank-dependent utility theory.
1992年，在《风险与不确定性》杂志上，Kahneman 和 Tversky 对前景理论进行了修正，他们称之为累积前景理论。新理论消除了前景理论中的编辑阶段，只注重评价阶段。它的主要特点是允许以累积的方式进行非线性概率加权，这最初是在约翰 · 奎金的排序依赖效用理论中提出的。
Psychological traits such as [[Overconfidence effect|overconfidence]], [[Affective forecasting#Projection bias|projection bias]], and the effects of limited attention are now part of the theory. Other developments include a conference at the [[University of Chicago]],{{sfn|Hogarth|Reder|1987}} a special behavioral economics edition of the ''[[Quarterly Journal of Economics]]'' ("In Memory of Amos Tversky"), and Kahneman's 2002 Nobel Prize for having "integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty."<ref name=kahneman>{{cite web|title=Nobel Laureates 2002|publisher=Nobelprize.org|url=http://nobelprize.org/nobel_prizes/lists/2002.html|accessdate=2008-04-25|archiveurl=https://web.archive.org/web/20080410071445/http://nobelprize.org/nobel_prizes/lists/2002.html|archivedate=10 April 2008 |url-status=live}}</ref>
Psychological traits such as overconfidence, projection bias, and the effects of limited attention are now part of the theory. Other developments include a conference at the University of Chicago, a special behavioral economics edition of the Quarterly Journal of Economics ("In Memory of Amos Tversky"), and Kahneman's 2002 Nobel Prize for having "integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty."
过度自信、投射偏见和有限注意力的影响等心理特征现在已经成为这个理论的一部分。其他进展包括在芝加哥大学举行的一次会议、《经济学季刊》(Quarterly Journal of Economics)的行为经济学特刊(《纪念阿莫斯 · 特沃斯基》[ In Memory of Amos Tversky ]) ，以及卡尼曼2002年获得的诺贝尔奖，因为他“将心理学研究的见解整合到经济科学中，特别是关于不确定条件下的人类判断和决策”
=== Intertemporal choice ===
{{See also|Dynamic inconsistency}}
[[File:David_laibson_2007.jpg|thumb|left|140px|[[David Laibson]], professor of economics at [[Harvard University]]]]
[[David Laibson, professor of economics at Harvard University]]
[哈佛大学经济学教授大卫 · 莱布森]
Behavioral economics has been applied to intertemporal choice, which is defined as making a decision and having the effects of such decision happening in a different time. Intertemporal choice behavior is largely inconsistent, as exemplified by [[George Ainslie (psychologist)|George Ainslie]]'s [[hyperbolic discounting]]—one of the prominently studied observations—and further developed by [[David Laibson]], Ted O'Donoghue and [[Matthew Rabin]]. Hyperbolic discounting describes the tendency to discount outcomes in the near future more than outcomes in the far future. This pattern of discounting is dynamically inconsistent (or time-inconsistent), and therefore inconsistent with basic models of rational choice, since the rate of discount between time ''t'' and ''t+1'' will be low at time ''t-1'' when ''t'' is the near future, but high at time ''t'' when ''t'' is the present and time ''t+1'' is the near future.
Behavioral economics has been applied to intertemporal choice, which is defined as making a decision and having the effects of such decision happening in a different time. Intertemporal choice behavior is largely inconsistent, as exemplified by George Ainslie's hyperbolic discounting—one of the prominently studied observations—and further developed by David Laibson, Ted O'Donoghue and Matthew Rabin. Hyperbolic discounting describes the tendency to discount outcomes in the near future more than outcomes in the far future. This pattern of discounting is dynamically inconsistent (or time-inconsistent), and therefore inconsistent with basic models of rational choice, since the rate of discount between time t and t+1 will be low at time t-1 when t is the near future, but high at time t when t is the present and time t+1 is the near future.
行为经济学已经被应用到跨期选择中，跨期选择被定义为在不同的时间做出决策并产生不同的决策效果。跨期选择行为在很大程度上是不一致的，乔治 · 安斯利的双曲贴现就是一个很好的例子，大卫 · 莱布森、泰德 · 奥多诺霍和马修 · 拉宾进一步发展了这种行为。双曲折现描述了一种倾向，即在不久的将来，对结果的贴现要多于对遥远未来的结果的贴现。这种贴现模式在动态上是不一致的(或者说是时间不一致的) ，因此与理性选择的基本模型不一致，因为时间 t 和 t + 1之间的贴现率在时间 t 为近期的 t-1时低，而在时间 t 为现在的 t 时高，时间 t 为近期的 t + 1时高。
This pattern can also be explained through models of sub-additive discounting that distinguish the delay and interval of discounting: people are less patient (per-time-unit) over shorter intervals regardless of when they occur.
This pattern can also be explained through models of sub-additive discounting that distinguish the delay and interval of discounting: people are less patient (per-time-unit) over shorter intervals regardless of when they occur.
这种模式也可以通过子加法贴现模型来解释，这种模型区分了贴现的延迟和贴现时间间隔: 无论贴现时间何时发生，人们在较短的贴现时间间隔内都缺乏耐心。
=== Other areas of research ===
Other branches of behavioral economics enrich the model of the utility function without implying inconsistency in preferences. [[Ernst Fehr]], [[Armin Falk]], and Rabin studied [[distributive justice|fairness]], [[inequity aversion]] and [[reciprocal altruism]], weakening the neoclassical assumption of perfect [[selfishness]]. This work is particularly applicable to wage setting. The work on "intrinsic motivation by [[Uri Gneezy|Gneezy]] and Rustichini and "identity" by [[George Akerlof|Akerlof]] and [[Rachel Kranton|Kranton]] assumes that agents derive utility from adopting personal and social norms in addition to conditional expected utility. According to Aggarwal, in addition to behavioral deviations from rational equilibrium, markets are also likely to suffer from lagged responses, search costs, externalities of the commons, and other frictions making it difficult to disentangle behavioral effects in market behavior.<ref>{{cite journal|last1=Aggarwal|first1=Raj|title=Animal Spirits in Financial Economics: A Review of Deviations from Economic Rationality|journal=International Review of Financial Analysis|date=2014|volume=32|issue=1|pages=179–87|doi=10.1016/j.irfa.2013.07.018}}</ref>
Other branches of behavioral economics enrich the model of the utility function without implying inconsistency in preferences. Ernst Fehr, Armin Falk, and Rabin studied fairness, inequity aversion and reciprocal altruism, weakening the neoclassical assumption of perfect selfishness. This work is particularly applicable to wage setting. The work on "intrinsic motivation by Gneezy and Rustichini and "identity" by Akerlof and Kranton assumes that agents derive utility from adopting personal and social norms in addition to conditional expected utility. According to Aggarwal, in addition to behavioral deviations from rational equilibrium, markets are also likely to suffer from lagged responses, search costs, externalities of the commons, and other frictions making it difficult to disentangle behavioral effects in market behavior.
行为经济学的其他分支丰富了效用函数模型，但没有暗示偏好的不一致性。恩斯特 · 费尔、阿明 · 福尔克和拉宾研究了公平、不平等厌恶和互利主义，削弱了新古典主义的完美自私假设。这项工作特别适用于确定工资。Gneezy 和 Rustichini 关于“内在动机”的著作和 Akerlof 和 Kranton 关于“身份”的著作都假定，除了有条件的期望效用外，个人和社会规范的采用也会产生效用。根据阿加沃尔的观点，除了行为偏离理性均衡，市场还可能遭受滞后反应，搜索成本，公地的外部性，以及其他摩擦，使其难以区分行为效应的市场行为。
"Conditional expected utility" is a form of reasoning where the individual has an [[illusion of control]], and calculates the probabilities of external events and hence their utility as a function of their own action, even when they have no causal ability to affect those external events.<ref>{{cite journal|doi=10.2307/3791450|author=Grafstein R|title=Rationality as Conditional Expected Utility Maximization|journal=Political Psychology|volume=16|issue=1|pages=63–80|year=1995|jstor=3791450}}</ref><ref>{{cite journal|doi=10.1016/0010-0285(92)90015-T|author=Shafir E, Tversky A|title=Thinking through uncertainty: nonconsequential reasoning and choice|journal=Cognitive Psychology|volume=24|issue=4|pages=449–74|year=1992|pmid=1473331 }}</ref>
"Conditional expected utility" is a form of reasoning where the individual has an illusion of control, and calculates the probabilities of external events and hence their utility as a function of their own action, even when they have no causal ability to affect those external events.
“条件期望效用”是一种推理形式，在这种情况下，个人拥有一个控制的错觉，并计算外部事件的概率，因此它们的效用作为他们自己行为的函数，即使他们没有因果能力来影响那些外部事件。
Behavioral economics caught on among the general public with the success of books such as [[Dan Ariely]]'s ''[[Predictably Irrational]].'' Practitioners of the discipline have studied quasi-public policy topics such as [[Broadband mapping in the United States|broadband mapping]].<ref name=twsA2faa4>{{cite web|title=US National Broadband Plan: good in theory|publisher=Telco 2.0|quote=... Sara Wedeman's awful experience with this is instructive....|date=March 17, 2010|url=http://www.telco2.net/blog/2010/03/us_national_broadband_plan_qui.html|accessdate=2010-09-23}}</ref><ref name=twsA2xx>{{cite news|first1=Gordon |last1=Cook |first2=Sara |last2=Wedeman|title=Connectivity, the Five Freedoms, and Prosperity|publisher=Community Broadband Networks|date=July 1, 2009|url=http://www.muninetworks.org/reports/cook-report-broadband-mapping-connectivity-five-freedoms-and-prosperity|accessdate=2010-09-23}}</ref>
Behavioral economics caught on among the general public with the success of books such as Dan Ariely's Predictably Irrational. Practitioners of the discipline have studied quasi-public policy topics such as broadband mapping.
行为经济学因 Dan Ariely 的《怪诞行为学成功而在普通大众中流行起来。该学科的从业人员研究了宽带制图等准公共政策专题。
Applications for behavioral economics include the modeling of the consumer decision-making process for applications in [[artificial intelligence]] and [[machine learning]]. The Silicon Valley-based start-up Singularities is using the [[AGM postulates]] proposed by Alchourrón, Gärdenfors, and Makinson—the formalization of the concepts of beliefs and change for rational entities—in a [[symbolic logic]] to create a "machine learning and deduction engine that uses the latest [[data science]] and [[big data]] algorithms in order to generate the content and conditional rules (counterfactuals) that capture customer's behaviors and beliefs."<ref>{{cite web|title=Singluarities Our Company|publisher=Singular Me, LLC|quote=... machine learning and deduction engine that uses the latest data science and big data algorithms in order to generate the content and conditional rules (counterfactuals) that capture customer's behaviors and beliefs....|date=2017|url=https://www.singularities.com/our-company|accessdate=2017-07-12|archive-url=https://web.archive.org/web/20171112074640/https://www.singularities.com/our-company|archive-date=2017-11-12|url-status=dead}}</ref>
Applications for behavioral economics include the modeling of the consumer decision-making process for applications in artificial intelligence and machine learning. The Silicon Valley-based start-up Singularities is using the AGM postulates proposed by Alchourrón, Gärdenfors, and Makinson—the formalization of the concepts of beliefs and change for rational entities—in a symbolic logic to create a "machine learning and deduction engine that uses the latest data science and big data algorithms in order to generate the content and conditional rules (counterfactuals) that capture customer's behaviors and beliefs."
行为经济学的应用包括在人工智能和机器学习中应用的消费者决策过程建模。Silicon Valley-based 创业公司 singularis 正在使用 alchourr n，g rdenfors 和 makinson 提出的 AGM 假设，即理性实体的信念和变化概念的形式化，在符号逻辑中创建一个“机器学习和演绎引擎，使用最新的数据科学和大数据算法，以生成内容和条件规则(反事实) ，捕捉客户的行为和信念。”
Applications of behavioral economics also exist in other disciplines, for example in the area of supply chain management.<ref>{{cite journal | last1 = Schorsch | first1 = Timm | last2 = Marcus Wallenburg | first2 = Carl | last3 = Wieland | first3 = Andreas | year = 2017 | title = The human factor in SCM: Introducing a meta-theory of behavioral supply chain management | url = | journal = International Journal of Physical Distribution & Logistics Management | volume = 47 | issue = | pages = 238–262 | doi = 10.1108/IJPDLM-10-2015-0268 }}</ref>
Applications of behavioral economics also exist in other disciplines, for example in the area of supply chain management.
行为经济学的应用也存在于其他学科，例如供应链管理领域。
=== Natural experiments ===
From a biological point of view, human behaviors are essentially the same during crises accompanied by stock market crashes and during bubble growth when share prices exceed historic highs. During those periods, most market participants see something new for themselves, and this inevitably induces a stress response in them with accompanying changes in their endocrine profiles and motivations. The result is quantitative and qualitative changes in behavior. This is one example where behavior affecting economics and finance can be observed and variably-contrasted using behavioral economics.
From a biological point of view, human behaviors are essentially the same during crises accompanied by stock market crashes and during bubble growth when share prices exceed historic highs. During those periods, most market participants see something new for themselves, and this inevitably induces a stress response in them with accompanying changes in their endocrine profiles and motivations. The result is quantitative and qualitative changes in behavior. This is one example where behavior affecting economics and finance can be observed and variably-contrasted using behavioral economics.
从生物学的角度来看，人类的行为在伴随着股市崩溃的危机期间和股价超过历史高点的泡沫增长期间本质上是相同的。在这些时期，大多数市场参与者看到了自己的新东西，这不可避免地引发了他们的压力反应，伴随着他们的内分泌状况和动机的变化。其结果是行为的定量和定性变化。这是一个例子，其中的行为影响经济学和金融可以观察和不同的对比，使用行为经济学。
Behavioral economics' usefulness applies beyond environments similar to stock exchanges. Selfish-reasoning, 'adult behaviors', and similar, can be identified within criminal-concealment(s), and legal-deficiencies and neglect of different types can be observed and discovered. Awareness of indirect consequence (or lack of), at least in potential with different experimental models and methods, can be used as well—behavioral economics' potential uses are broad, but its reliability needs scrutiny. Underestimation of the role of novelty as a stressor is the primary shortcoming of current approaches for market research. It is necessary to account for the biologically determined diphasisms of human behavior in everyday low-stress conditions and in response to stressors.<ref name="Sarapultsev, A. 2014" /> Limitations of experimental methods (e.g. randomized control trials) and their use in economics were famously analyzed by Angus Deaton.<ref>{{cite web |last1=Blattman |first1=Christopher |title=Why Angus Deaton Deserved the Nobel Prize in Economics |url=https://foreignpolicy.com/2015/10/12/why-angus-deaton-deserved-the-nobel-prize-in-economics/ |website=Foreign Policy |accessdate=18 February 2020}}</ref>
Behavioral economics' usefulness applies beyond environments similar to stock exchanges. Selfish-reasoning, 'adult behaviors', and similar, can be identified within criminal-concealment(s), and legal-deficiencies and neglect of different types can be observed and discovered. Awareness of indirect consequence (or lack of), at least in potential with different experimental models and methods, can be used as well—behavioral economics' potential uses are broad, but its reliability needs scrutiny. Underestimation of the role of novelty as a stressor is the primary shortcoming of current approaches for market research. It is necessary to account for the biologically determined diphasisms of human behavior in everyday low-stress conditions and in response to stressors.
行为经济学的有用性不仅适用于类似于证券交易所的环境。自私推理、“成人行为”等类似的犯罪隐瞒行为可以在犯罪隐瞒行为中被识别出来，不同类型的法律缺陷和疏忽也可以被观察和发现。对间接后果(或缺乏)的认识，至少在不同实验模型和方法的潜力方面，也可以被利用ーー行为经济学的潜在用途是广泛的，但其可靠性需要审查。低估新颖性作为一种压力源的作用是目前市场研究方法的主要缺点。有必要说明在日常低应激条件下和应对应激源时人类行为的生物学决定的双相性。
== Criticism ==
Critics of behavioral economics typically stress the [[rationality]] of economic agents.<ref>{{cite journal |last1= Myagkov |last2= Plott |year=1997 |title=Exchange Economies and Loss Exposure: Experiments Exploring Prospect Theory and Competitive Equilibria in Market Environments |url=http://authors.library.caltech.edu/43961/1/exchange%20economies%20and%20loss%20exposure.pdf}}</ref> A fundamental critique is provided by Maialeh (2019) who argues that no behavioral research can establish an economic theory. Examples provided on this account include pillars of behavioral economics such as satisficing behavior or prospect theory, which are confronted from the neoclassical perspective of utility maximization and expected utility theory respectively. The author shows that behavioral findings are hardly generalizable and that they do not disprove typical mainstream axioms related to rational behavior.<ref>{{cite journal |last1=Maialeh |first1=Robin |title=Generalization of results and neoclassical rationality: unresolved controversies of behavioural economics methodology |journal=Quality & Quantity |date=2019 |volume=53 |issue=4 |pages=1743–1761 |doi=10.1007/s11135-019-00837-1 }}</ref>
Critics of behavioral economics typically stress the rationality of economic agents. A fundamental critique is provided by Maialeh (2019) who argues that no behavioral research can establish an economic theory. Examples provided on this account include pillars of behavioral economics such as satisficing behavior or prospect theory, which are confronted from the neoclassical perspective of utility maximization and expected utility theory respectively. The author shows that behavioral findings are hardly generalizable and that they do not disprove typical mainstream axioms related to rational behavior.
行为经济学的批评家通常强调经济行为主体的合理性。Maaialeh (2019)提供了一个基本的批评，他认为没有任何行为研究可以建立一个经济理论。这方面的例子包括行为经济学的支柱，如满意行为或前景理论，它们分别从新古典主义的角度来面对效用最大化和期望效用理论。作者指出，行为研究结果很难推广，而且它们不能否定与理性行为有关的典型主流公理。
Others note that cognitive theories, such as [[prospect theory]], are models of [[decision-making]], not generalized economic behavior, and are only applicable to the sort of once-off decision problems presented to experiment participants or survey respondents.{{citation needed|date=May 2010}} Others argue that decision-making models, such as the [[Endowment effect|endowment effect theory]], that have been widely accepted behavioral economists may be erroneously established as a consequence of poor experimental design practices that do not adequately control subject misconceptions.<ref name=":0" /><ref>{{Cite journal|last=Klass|first=Greg|last2=[[Kathryn Zeiler|Zeiler]]|first2=Kathryn|date=2013-01-01|title=Against Endowment Theory: Experimental Economics and Legal Scholarship|url=https://scholarship.law.bu.edu/faculty_scholarship/199|journal=UCLA Law Review|volume=61|issue=1|pages=2}}</ref><ref>{{Cite journal|last=[[Kathryn Zeiler|Zeiler]]|first=Kathryn|date=2011-01-01|title=The Willingness to Pay-Willingness to Accept Gap, the 'Endowment Effect,' Subject Misconceptions, and Experimental Procedures for Eliciting Valuations: Reply|url=https://scholarship.law.bu.edu/faculty_scholarship/521|journal=American Economic Review|volume=101|pages=1012}}</ref><ref>{{Cite journal|last=[[Kathryn Zeiler|Zeiler]]|first=Kathryn|date=2005-01-01|title=The Willingness to Pay-Willingness to Accept Gap, the 'Endowment Effect,' Subject Misconceptions, and Experimental Procedures for Eliciting Valuations|url=https://scholarship.law.bu.edu/faculty_scholarship/781|journal=American Economic Review|volume=95|pages=530}}</ref>
Others note that cognitive theories, such as prospect theory, are models of decision-making, not generalized economic behavior, and are only applicable to the sort of once-off decision problems presented to experiment participants or survey respondents. Others argue that decision-making models, such as the endowment effect theory, that have been widely accepted behavioral economists may be erroneously established as a consequence of poor experimental design practices that do not adequately control subject misconceptions.
其他人则指出，前景理论等认知理论是决策模型，而不是泛化的经济行为，它们只适用于向实验参与者或调查对象提出的一次性决策问题。其他人认为，决策模型，如禀赋效应理论，已被广泛接受的行为经济学家，可能被错误地建立为糟糕的实验设计实践的后果，没有充分控制受试者的错误概念。
A notable concern is that despite a great deal of rhetoric, no unified behavioral theory has yet been espoused: behavioral economists have proposed no unified theory.
A notable concern is that despite a great deal of rhetoric, no unified behavioral theory has yet been espoused: behavioral economists have proposed no unified theory.
一个值得关注的问题是，尽管有大量的修辞，还没有统一的行为理论得到支持: 行为经济学家没有提出统一的理论。
[[David Gal]] has argued that many of these issues stem from behavioral economics being too concerned with understanding ''how'' behavior deviates from standard economic models rather than with understanding ''why'' people behave the way they do. Understanding why behavior occurs is necessary for the creation of generalizable knowledge, the goal of [[science]]. He has referred to behavioral economics as a "triumph of marketing" and particularly cited the example of loss aversion.<ref>{{Cite news|url=https://www.nytimes.com/2018/10/06/opinion/sunday/behavioral-economics.html|title=Opinion {{!}} Why Is Behavioral Economics So Popular?|access-date=2018-11-16|language=en}}</ref>
David Gal has argued that many of these issues stem from behavioral economics being too concerned with understanding how behavior deviates from standard economic models rather than with understanding why people behave the way they do. Understanding why behavior occurs is necessary for the creation of generalizable knowledge, the goal of science. He has referred to behavioral economics as a "triumph of marketing" and particularly cited the example of loss aversion.
大卫 · 加尔认为，这些问题中的许多问题起源于行为经济学过于关注理解行为如何偏离标准经济模型，而不是理解人们为什么会这样做。理解行为发生的原因对于创造普遍化的知识是必要的，这也是科学的目标。他将行为经济学称为“市场营销的胜利” ，并特别提到了规避损失的例子。
Traditional economists are skeptical of the experimental and survey-based techniques that behavioral economics uses extensively. Economists typically stress [[revealed preference]]s over stated preferences (from surveys) in the determination of economic value. Experiments and surveys are at risk of [[systemic bias]]es, strategic behavior and lack of incentive compatibility.{{citation needed|date=May 2010}} Some researchers point out that participants of experiments conducted by behavioural economists are not representative enough and drawing broad conclusions on the basis of such experiments is not possible. An acronym WEIRD has been coined in order to describe the studies participants - as those, who come from Western, Educated, Industrialized, Rich, and Democratic societies.<ref>Joseph Henrich, Steven J. Heine, Ara Norenzayan, The weirdest people in the world?, „Behavioral and brain sciences”, 2010.</ref>
Traditional economists are skeptical of the experimental and survey-based techniques that behavioral economics uses extensively. Economists typically stress revealed preferences over stated preferences (from surveys) in the determination of economic value. Experiments and surveys are at risk of systemic biases, strategic behavior and lack of incentive compatibility. Some researchers point out that participants of experiments conducted by behavioural economists are not representative enough and drawing broad conclusions on the basis of such experiments is not possible. An acronym WEIRD has been coined in order to describe the studies participants - as those, who come from Western, Educated, Industrialized, Rich, and Democratic societies.
传统经济学家对行为经济学广泛使用的实验和调查技术持怀疑态度。经济学家通常强调，在决定经济价值时，他们偏好于(来自调查的)规定偏好。实验和调查存在系统偏差、战略行为和缺乏激励相容的风险。一些研究人员指出，行为经济学家进行的实验的参与者代表性不够，不可能在此类实验的基础上得出广泛的结论。为了描述这些研究的参与者——来自西方、受过教育、工业化、富裕和民主社会的人，人们创造了一个首字母缩写 WEIRD。
=== Responses ===
[[Matthew Rabin]]{{sfn|Rabin|1998|pp=11–46}} dismisses these criticisms, countering that consistent results typically are obtained in multiple situations and geographies and can produce good theoretical insight. Behavioral economists, however, responded to these criticisms by focusing on field studies rather than lab experiments. Some economists see a fundamental schism between [[experimental economics]] and behavioral economics, but prominent behavioral and experimental economists tend to share techniques and approaches in answering common questions. For example, behavioral economists are investigating [[neuroeconomics]], which is entirely experimental and has not been verified in the field.{{citation needed|date=May 2010}}
Matthew Rabin dismisses these criticisms, countering that consistent results typically are obtained in multiple situations and geographies and can produce good theoretical insight. Behavioral economists, however, responded to these criticisms by focusing on field studies rather than lab experiments. Some economists see a fundamental schism between experimental economics and behavioral economics, but prominent behavioral and experimental economists tend to share techniques and approaches in answering common questions. For example, behavioral economists are investigating neuroeconomics, which is entirely experimental and has not been verified in the field.
马修 · 拉宾驳斥了这些批评，反驳说一致的结果通常是在多种情况和地理环境下获得的，并且可以产生很好的理论洞察力。然而，行为经济学家对这些批评的回应是将重点放在实地研究而不是实验室实验上。一些经济学家认为实验经济学和行为经济学之间存在根本的分歧，但杰出的行为经济学家和实验经济学家倾向于分享回答常见问题的技巧和方法。例如，行为经济学家正在调查神经经济学，这是完全实验性的，尚未在该领域得到验证。
The epistemological, ontological, and methodological components of behavioral economics are increasingly debated, in particular by historians of economics and economic methodologists.<ref>{{Cite news|url=https://www.exploring-economics.org/en/orientation/behavioral-economics/|title=Behavioral Economics |website= Exploring Economics|access-date=|last1 = Kersting|first1 = Felix|last2= Obst|first2= Daniel|date = 10 April 2016|language=en}}</ref>
The epistemological, ontological, and methodological components of behavioral economics are increasingly debated, in particular by historians of economics and economic methodologists.
行为经济学的认识论、本体论和方法论组成部分日益受到争论，尤其是经济学史学家和经济方法论者。
According to some researchers,<ref name="Sarapultsev, A. 2014">{{cite journal|last1=Sarapultsev |first1=A. |last2= Sarapultsev |first2=P. |year=2014 |title=Novelty, Stress, and Biological Roots in Human Market Behavior |journal=Behavioral Sciences |volume=4 |issue=1 |pages=53–69 |doi=10.3390/bs4010053|pmid=25379268 |pmc=4219248 }}</ref> when studying the mechanisms that form the basis of decision-making, especially financial decision-making, it is necessary to recognize that most decisions are made under stress<ref>{{cite book|last=Zhukov |first=D.A. |title=Biologija Povedenija |work= Gumoral’nye Mehanizmy [Biology of Behavior. Humoral Mechanisms]; |publisher=Rech |location=St. Petersburg, Russia |year=2007}}</ref> because, "Stress is the nonspecific body response to any demands presented to it."<ref name="Selye2013">{{cite book|first=Hans|last=Selye |title=Stress in Health and Disease|url={{google books |plainurl=y |id=wrfYBAAAQBAJ}}|year= 2013|publisher=Elsevier Science|isbn=978-1-4831-9221-5}}</ref>
According to some researchers, when studying the mechanisms that form the basis of decision-making, especially financial decision-making, it is necessary to recognize that most decisions are made under stress because, "Stress is the nonspecific body response to any demands presented to it."
一些研究人员表示，在研究构成决策基础的机制，尤其是财务决策时，有必要认识到，大多数决策都是在压力下做出的，因为“压力是对提出的任何要求做出的非特定的身体反应。”
== Applied issues ==
=== Nudge theory ===
{{Main|Nudge theory}}
[[File:Richard Thaler Chatham.jpg|thumb|140px|[[Richard Thaler]], winner of the 2017 Nobel Prize in economics]]
[[Richard Thaler, winner of the 2017 Nobel Prize in economics]]
[理查德 · 泰勒，2017年诺贝尔经济学奖得主]
'''Nudge''' is a concept in [[behavioral science]], [[political theory]] and [[economics]] which proposes [[positive reinforcement]] and indirect suggestions as ways to [[Social influence|influence]] the behavior and [[decision making]] of groups or individuals. Nudging contrasts with other ways to achieve compliance, such as [[education]], [[legislation]] or [[enforcement]]. The concept has influenced British and American politicians. Several nudge units exist around the world at the national level (UK, Germany, Japan and others) as well as at the international level (OECD, World Bank, UN).
Nudge is a concept in behavioral science, political theory and economics which proposes positive reinforcement and indirect suggestions as ways to influence the behavior and decision making of groups or individuals. Nudging contrasts with other ways to achieve compliance, such as education, legislation or enforcement. The concept has influenced British and American politicians. Several nudge units exist around the world at the national level (UK, Germany, Japan and others) as well as at the international level (OECD, World Bank, UN).
轻推是行为科学、政治理论和经济学中的一个概念，它提出正强化和间接暗示作为影响群体或个体行为和决策的方式。轻推与其他实现合规的方式形成了鲜明对比，比如教育、立法或执法。这个概念影响了英国和美国的政治家。在国家层面(英国、德国、日本和其他国家)以及国际层面(经合组织、世界银行、联合国) ，世界各地都存在一些推动单位。
The first formulation of the term and associated principles was developed in [[cybernetics]] by James Wilk before 1995 and described by Brunel University academic D. J. Stewart as "the art of the nudge" (sometimes referred to as micronudges<ref>{{citation | author=Wilk, J. | year=1999 | chapter=Mind, nature and the emerging science of change: An introduction to metamorphology. | editor1=G. Cornelis|editor2=S. Smets|editor2-link= Sonja Smets |editor3=J. Van Bendegem | title=EINSTEIN MEETS MAGRITTE: An Interdisciplinary Reflection on Science, Nature, Art, Human Action and Society: Metadebates on science | volume=6 | pages=71–87 | publisher=Springer Netherlands | doi=10.1007/978-94-017-2245-2_6| isbn=978-90-481-5242-1 }}</ref>). It also drew on methodological influences from clinical [[psychotherapy]] tracing back to [[Gregory Bateson]], including contributions from [[Milton Erickson]], [[Paul Watzlawick|Watzlawick]], [[John Weakland|Weakland]] and Fisch, and [[Bill O'Hanlon]].<ref>{{citation | author1=O'Hanlon, B.|author2=Wilk, J. | year=1987 | title=Shifting contexts : The generation of effective psychotherapy. | publisher=New York, N.Y.: Guilford Press.}}</ref> In this variant, the nudge is a microtargetted design geared towards a specific group of people, irrespective of the scale of intended intervention.
The first formulation of the term and associated principles was developed in cybernetics by James Wilk before 1995 and described by Brunel University academic D. J. Stewart as "the art of the nudge" (sometimes referred to as micronudges). It also drew on methodological influences from clinical psychotherapy tracing back to Gregory Bateson, including contributions from Milton Erickson, Watzlawick, Weakland and Fisch, and Bill O'Hanlon. In this variant, the nudge is a microtargetted design geared towards a specific group of people, irrespective of the scale of intended intervention.
1995年以前，James Wilk 在控制论中首次提出了这一术语和相关原则的表述，Brunel 大学的学者 D.j. Stewart 称之为”推动的艺术”(有时称为”微推”)。它还借鉴了方法论的影响，从临床心理治疗追溯到格里高利 · 贝特森，包括弥尔顿 · 埃里克森，Watzlawick，威克兰和菲施，和比尔 · 欧汉伦的贡献。在这个变体中，轻推是一个针对特定人群的微观目标设计，不考虑预期干预的规模。
In 2008, [[Richard Thaler]] and [[Cass Sunstein]]'s book ''[[Nudge (book)|Nudge: Improving Decisions About Health, Wealth, and Happiness]]'' brought nudge theory to prominence. It also gained a following among US and UK politicians, in the private sector and in public health.<ref>See: [http://www.shponline.co.uk/features-content/full/cpd-article-nudge-nudge-think-think Dr. Jennifer Lunt and Malcolm Staves] {{Webarchive|url=https://web.archive.org/web/20120430212840/http://www.shponline.co.uk/features-content/full/cpd-article-nudge-nudge-think-think |date=2012-04-30 }}</ref> The authors refer to influencing behaviour without coercion as [[libertarian paternalism]] and the influencers as choice architects.<ref name=speak /> Thaler and Sunstein defined their concept as:
In 2008, Richard Thaler and Cass Sunstein's book Nudge: Improving Decisions About Health, Wealth, and Happiness brought nudge theory to prominence. It also gained a following among US and UK politicians, in the private sector and in public health. The authors refer to influencing behaviour without coercion as libertarian paternalism and the influencers as choice architects. Thaler and Sunstein defined their concept as:
2008年，理查德 · 泰勒和卡斯 · 桑斯坦的书《推动: 改善关于健康、财富和幸福的决定》使推动理论得到了重视。它还在美国和英国的政界人士、私营部门和公共卫生领域赢得了追随者。两位作者将在没有强制的情况下影响行为称为自由意志主义家长式作风，而影响者则称为选择建筑师。和 Sunstein 将他们的概念定义为:
{{quote|''A nudge, as we will use the term, is any aspect of the [[choice architecture]] that alters people's behavior in a predictable way without forbidding any options or significantly changing their economic incentives. To count as a mere nudge, the intervention must be easy and cheap to avoid. Nudges are not mandates. Putting fruit at eye level counts as a nudge. Banning junk food does not.''}}
In this form, drawing on behavioral economics, the nudge is more generally applied to influence behaviour.
In this form, drawing on behavioral economics, the nudge is more generally applied to influence behaviour.
在这种形式下，借鉴行为经济学，轻推更广泛地应用于影响行为。
One of the most frequently cited examples of a nudge is the etching of the image of a housefly into the men's room [[urinal]]s at Amsterdam's Schiphol Airport, which is intended to "improve the aim."<ref name="nudge" />
One of the most frequently cited examples of a nudge is the etching of the image of a housefly into the men's room urinals at Amsterdam's Schiphol Airport, which is intended to "improve the aim."
人们经常引用的一个轻推的例子是，在阿姆斯特丹大道(Schiphol Airport)的男厕所小便池里，刻画了一只家蝇的形象，目的是“提高目标”
Nudging techniques aim to use judgmental heuristics to our advantage. In other words, a nudge alters the environment so that when heuristic, or System 1, decision-making is used, the resulting choice will be the most positive or desired outcome.<ref>{{cite journal|last1=Campbell-Arvai|first1=V|last2=Arvai|first2=J.|last3=Kalof|first3=L.|title=Motivating sustainable food choices: the role of nudges, value orientation, and information provision|journal=Environment and Behavior|date=2014|volume=46|issue=4|pages=453–475|url=https://www.researchgate.net/publication/272996812|doi=10.1177/0013916512469099}}</ref> An example of such a nudge is switching the placement of junk food in a store, so that fruit and other healthy options are located next to the cash register, while junk food is relocated to another part of the store.<ref>{{cite journal|last1=Kroese|first1=F.|last2=Marchiori|first2=D.|last3=de Ridder|first3=D.|title=Nudging healthy food choices: a field experiment at the train station|journal=Journal of Public Health|date=2016|volume=38|issue=2|pages=e133–7|url=https://academic.oup.com/jpubhealth/article-pdf/38/2/e133/6869936/fdv096.pdf|doi=10.1093/pubmed/fdv096|pmid=26186924}}</ref>
Nudging techniques aim to use judgmental heuristics to our advantage. In other words, a nudge alters the environment so that when heuristic, or System 1, decision-making is used, the resulting choice will be the most positive or desired outcome. An example of such a nudge is switching the placement of junk food in a store, so that fruit and other healthy options are located next to the cash register, while junk food is relocated to another part of the store.
激励技巧的目的是使用判断启发式对我们有利。换句话说，一个轻推改变了环境，当启发式，或系统1，决策是使用，产生的选择将是最积极的或期望的结果。这种推动的一个例子是改变垃圾食品在商店的位置，使水果和其他健康的选择放在收银机旁边，而垃圾食品被搬到商店的另一个部分。
In 2008, the United States appointed Sunstein, who helped develop the theory, as administrator of the [[Office of Information and Regulatory Affairs]].<ref name=speak>{{cite news|url=https://www.theguardian.com/politics/blog/2008/aug/22/davidcameron.conservatives|title=Speak 'Nudge': The 10 key phrases from David Cameron's favorite book|author=Andrew Sparrow|newspaper=[[The Guardian]]|date=2008-08-22|accessdate=2009-09-09 | location=London}}</ref><ref>{{cite news|url=http://business.timesonline.co.uk/tol/business/career_and_jobs/article4330267.ece|title=Why Barack Obama and David Cameron are keen to 'nudge' you|newspaper=[[The Times]]|author=Carol Lewis |date=2009-07-22|accessdate=2009-09-09 | location=London}}</ref><ref>{{cite magazine|url=http://www.spectator.co.uk/the-magazine/features/839676/nudge-nudge-meet-the-cameroons-new-guru.thtml|title=Nudge, nudge: meet the Cameroons' new guru|magazine=[[The Spectator]]|author=James Forsyth|date=2009-07-16|accessdate=2009-09-09|url-status=dead|archiveurl=https://web.archive.org/web/20090124222449/http://www.spectator.co.uk/the-magazine/features/839676/nudge-nudge-meet-the-cameroons-new-guru.thtml|archivedate=2009-01-24}}</ref>
In 2008, the United States appointed Sunstein, who helped develop the theory, as administrator of the Office of Information and Regulatory Affairs.
2008年，美国任命帮助发展该理论的 Sunstein 为信息和管理事务办公室的管理员。
Notable applications of nudge theory include the formation of the British [[Behavioural Insights Team]] in 2010. It is often called the "Nudge Unit", at the British [[Cabinet Office]], headed by [[David Halpern (psychologist)|David Halpern]].<ref>{{cite web|url=https://www.behaviouralinsights.co.uk/about-us/|title=Who we are |website = The Behavioural Insights Team}}</ref>
Notable applications of nudge theory include the formation of the British Behavioural Insights Team in 2010. It is often called the "Nudge Unit", at the British Cabinet Office, headed by David Halpern.
轻推理论的主要应用包括2010年英国行为洞察小组的成立。在大卫 · 哈尔彭领导的英国内阁办公室，它经常被称为“推动小组”。
Both Prime Minister [[David Cameron]] and President [[Barack Obama]] sought to employ nudge theory to advance [[domestic policy]] goals during their terms.<ref>{{cite news|url=https://www.independent.co.uk/news/uk/politics/first-obama-now-cameron-embraces-nudge-theory-2050127.html|title=First Obama, now Cameron embraces 'nudge theory'|date=12 August 2010|newspaper=The Independent}}</ref>
Both Prime Minister David Cameron and President Barack Obama sought to employ nudge theory to advance domestic policy goals during their terms.
英国首相戴维•卡梅伦(David Cameron)和美国总统巴拉克•奥巴马(Barack Obama)都试图在任期内运用轻推理论来推进国内政策目标。
In Australia, the government of New South Wales established a Behavioural Insights community of practice.<ref>{{cite web |url= http://bi.dpc.nsw.gov.au/|title=Behavioural Insights|publisher =Department of Premier and Cabinet|website=bi.dpc.nsw.gov.au}}</ref>
In Australia, the government of New South Wales established a Behavioural Insights community of practice.
在澳大利亚，新南威尔士州政府建立了一个行为洞察实践社区。
Nudge theory has also been applied to [[business management]] and [[corporate culture]], such as in relation to [[Environment, health and safety|health, safety and environment]] (HSE) and human resources. Regarding its application to HSE, one of the primary goals of nudge is to achieve a "zero accident culture."<ref>{{cite web|url=http://www.rydermarsh.co.uk/pdfs/SHP.0112.pdf|title=Cast No Shadow|website= Rydermarsh.co.uk|url-status = dead|archiveurl = https://web.archive.org/web/20171010050856/http://www.rydermarsh.co.uk/pdfs/SHP.0112.pdf|archivedate =10 October 2017|last = Marsh|first = Tim|date = January 2012 }}</ref>
Nudge theory has also been applied to business management and corporate culture, such as in relation to health, safety and environment (HSE) and human resources. Regarding its application to HSE, one of the primary goals of nudge is to achieve a "zero accident culture."
轻推理论也被应用于企业管理和企业文化，如与健康、安全与环境(HSE)和人力资源相关的领域。关于它在 HSE 中的应用，轻推的主要目标之一是实现“零事故文化”
Leading [[Silicon Valley]] companies are forerunners in applying nudge theory in a corporate setting. These companies are using nudges in various forms to increase the productivity and happiness of employees. Recently, further companies are gaining interest in using what is called "nudge management" to improve the productivity of their white-collar workers.<ref>{{Cite journal|last=Ebert|first=Philip|last2=Freibichler|first2=Wolfgang|year=2017|title=Nudge management: applying behavioural science to increase knowledge worker productivity|journal=Journal of Organization Design|volume=6:4|pages=|doi=10.1186/s41469-017-0014-1|hdl=1893/25187|hdl-access=free}}</ref>
Leading Silicon Valley companies are forerunners in applying nudge theory in a corporate setting. These companies are using nudges in various forms to increase the productivity and happiness of employees. Recently, further companies are gaining interest in using what is called "nudge management" to improve the productivity of their white-collar workers.
领先的硅谷企业在企业环境中应用“推动”理论方面走在了前面。这些公司正在以各种方式推动员工，以提高他们的生产力和幸福感。最近，越来越多的公司开始对利用所谓的“微推管理”(nudge management)来提高白领工人的生产率感兴趣。
Behavioral insights and nudges are currently used in many countries around the world.<ref>{{cite book|last=Carrasco-Villanueva|first=Marco|editor=上海社会科学院 [Shanghai Academy of Social Sciences]|title=2016上海青年汉学家研修计划论文集|language=zh|publisher=中国社会科学出版社 [China Social Sciences Press]|date=2016|pages=[https://archive.org/details/guidetolcshinfor00doej/page/368 368–392]|chapter=中国的环境公共政策：一个行为经济学的选择 [Environmental Public Policies in China: An Opportunity for Behavioral Economics]|isbn=978-1-234-56789-7|url=https://archive.org/details/guidetolcshinfor00doej/page/368}}</ref>
Behavioral insights and nudges are currently used in many countries around the world.
目前世界上许多国家都在使用行为洞察力和推动力。
==== Criticisms ====
Nudging has also been criticised. Tammy Boyce, from public health foundation [[The King's Fund]], has said: "We need to move away from short-term, politically motivated initiatives such as the 'nudging people' idea, which is not based on any good evidence and doesn't help people make long-term behaviour changes."<ref>{{cite news| url=https://www.independent.co.uk/life-style/health-and-wellbeing/health-news/unhealthy-lifestyles-here-to-stay-in-spite-of-costly-campaigns-1055693.html | work=The Independent | location=London | title=Unhealthy lifestyles here to stay, in spite of costly campaigns | first=Nina | last=Lakhani | date=December 7, 2008 | accessdate=April 28, 2010}}</ref>
Nudging has also been criticised. Tammy Boyce, from public health foundation The King's Fund, has said: "We need to move away from short-term, politically motivated initiatives such as the 'nudging people' idea, which is not based on any good evidence and doesn't help people make long-term behaviour changes."
“轻推”也受到了批评。来自公共卫生基金会“国王基金会”的泰米 · 博伊斯说: “我们需要远离短期的、出于政治动机的行动，比如‘推动人们’的想法，这种想法没有任何有力的证据，也无助于人们做出长期的行为改变。”
Cass Sunstein has responded to critiques at length in his ''The Ethics of Influence''<ref>{{Cite book|url={{google books |plainurl=y |id=TlvWDAAAQBAJ|page=8}} |title=The Ethics of Influence: Government in the Age of Behavioral Science|last=Sunstein|first=Cass R.|date=2016-08-24|publisher=Cambridge University Press|isbn=9781107140707|language=en}}</ref> making the case in favor of nudging against charges that nudges diminish autonomy,<ref>{{Cite journal|last=Schubert|first=Christian|date=2015-10-12|title=On the Ethics of Public Nudging: Autonomy and Agency|location=Rochester, NY|ssrn=2672970}}</ref> threaten dignity, violate liberties, or reduce welfare. Ethicists have debated this rigorously.<ref>{{Cite journal|last=Barton|first=Adrien|last2=Grüne-Yanoff|first2=Till|date=2015-09-01|title=From Libertarian Paternalism to Nudging—and Beyond|journal=Review of Philosophy and Psychology|language=en|volume=6|issue=3|pages=341–359|doi=10.1007/s13164-015-0268-x|issn=1878-5158|doi-access=free}}</ref> These charges have been made by various participants in the debate from Bovens<ref>{{Cite book|title=Preference Change|last=Bovens|first=Luc|date=2009|publisher=Springer, Dordrecht|isbn=9789048125920|series=Theory and Decision Library|pages=207–219|language=en|doi=10.1007/978-90-481-2593-7_10|chapter = The Ethics of Nudge}}</ref> to Goodwin.<ref>{{Cite journal|last=Goodwin|first=Tom|date=2012-06-01|title=Why We Should Reject 'Nudge'|journal=Politics|language=en|volume=32|issue=2|pages=85–92|doi=10.1111/j.1467-9256.2012.01430.x|issn=0263-3957}}</ref> Wilkinson for example charges nudges for being manipulative, while others such as Yeung question their scientific credibility.<ref>{{Cite journal|last=Yeung|first=Karen|date=2012-01-01|title=Nudge as Fudge|journal=The Modern Law Review|language=en|volume=75|issue=1|pages=122–148|doi=10.1111/j.1468-2230.2012.00893.x|issn=1468-2230}}</ref>
Cass Sunstein has responded to critiques at length in his The Ethics of Influence making the case in favor of nudging against charges that nudges diminish autonomy, threaten dignity, violate liberties, or reduce welfare. Ethicists have debated this rigorously. These charges have been made by various participants in the debate from Bovens to Goodwin. Wilkinson for example charges nudges for being manipulative, while others such as Yeung question their scientific credibility.
卡斯 · 桑斯坦在他的《影响力的道德规范》一书中对批评做出了详尽的回应，支持推动反对那些削弱自主权、威胁尊严、侵犯自由或减少福利的指控。伦理学家们对此进行了激烈的辩论。这些指控是从博文斯到古德温等各种辩论参与者提出的。例如，威尔金森指责人们轻推他的操纵行为，而杨家诚等人则质疑他们的科学可信度。
Some, such as Hausman & Welch<ref>{{Cite journal|last=Hausman|first=Daniel M.|last2=Welch|first2=Brynn|date=2010-03-01|title=Debate: To Nudge or Not to Nudge*|journal=Journal of Political Philosophy|language=en|volume=18|issue=1|pages=123–136|doi=10.1111/j.1467-9760.2009.00351.x|issn=1467-9760}}</ref> have inquired whether nudging should be permissible on grounds of (distributive{{clarify|date=February 2018}}) justice; Lepenies & Malecka<ref>{{Cite journal|last=Lepenies|first=Robert|last2=Małecka|first2=Magdalena|date=2015-09-01|title=The Institutional Consequences of Nudging – Nudges, Politics, and the Law|journal=Review of Philosophy and Psychology|language=en|volume=6|issue=3|pages=427–437|doi=10.1007/s13164-015-0243-6|issn=1878-5158}}</ref> have questioned whether nudges are compatible with the rule of law. Similarly, legal scholars have discussed the role of nudges and the law.<ref>{{Cite journal|last=Alemanno|first=A.|last2=Spina|first2=A.|date=2014-04-01|title=Nudging legally: On the checks and balances of behavioral regulation|journal=International Journal of Constitutional Law|language=en|volume=12|issue=2|pages=429–456|doi=10.1093/icon/mou033|issn=1474-2640|doi-access=free}}</ref><ref>{{Cite journal|last=Kemmerer|first=Alexandra|last2=Möllers|first2=Christoph|last3=Steinbeis|first3=Maximilian|last4=Wagner|first4=Gerhard|date=2016-07-15|title=Choice Architecture in Democracies: Exploring the Legitimacy of Nudging - Preface|location=Rochester, NY|ssrn=2810229}}</ref>
Some, such as Hausman & Welch have inquired whether nudging should be permissible on grounds of (distributive) justice; Lepenies & Malecka have questioned whether nudges are compatible with the rule of law. Similarly, legal scholars have discussed the role of nudges and the law.
豪斯曼和韦尔奇等人曾询问，基于(分配正义)的理由，轻推是否应该被允许; 莱佩尼斯和马莱卡则质疑轻推是否符合法治。同样，法律学者也讨论了“推动力”和法律的作用。
Behavioral economists such as Bob Sugden have pointed out that the underlying normative benchmark of nudging is still [[homo oeconomicus|homo economicus]], despite the proponents' claim to the contrary.<ref>{{Cite journal|last=Sugden|first=Robert|date=2017-06-01|title=Do people really want to be nudged towards healthy lifestyles?|journal=International Review of Economics|language=en|volume=64|issue=2|pages=113–123|doi=10.1007/s12232-016-0264-1|issn=1865-1704|doi-access=free}}</ref>
Behavioral economists such as Bob Sugden have pointed out that the underlying normative benchmark of nudging is still homo economicus, despite the proponents' claim to the contrary.
鲍勃 · 萨格登等行为经济学家指出，轻推的基本标准仍然是经济人，尽管支持者声称相反。
It has been remarked that nudging is also a [[euphemism]] for [[psychological manipulation]] as practiced in [[social engineering (political science)|social engineering]].<ref>{{cite web|url=http://www.law.harvard.edu/programs/olin_center/papers/pdf/Sunstein_809.pdf|title=NUDGING AND CHOICE ARCHITECTURE: ETHICAL CONSIDERATIONS|author=Cass R. Sunstein|website=Law.harvard.edu|accessdate=11 October 2017}}</ref><ref>{{cite web|url=http://www.abc.net.au/news/2015-12-01/berg-a-nudge-in-the-right-direction/6988786|title=A nudge in the right direction? How we can harness behavioural economics|date=1 December 2015|publisher=}}</ref>
It has been remarked that nudging is also a euphemism for psychological manipulation as practiced in social engineering.
有人说，轻推也是社会工程中心理操纵的委婉说法。
There exists an anticipation and, simultaneously, implicit criticism of the nudge theory in works of Hungarian social psychologists who emphasize the active participation in the nudge of its target (Ferenc Merei<ref>{{cite journal|last =MÉREI|first= Ferenc |date =1987|title = A perem-helyzet egyik változata: a szociálpszichológiai kontúr |trans-title=A variant of the edge-position: the contour social psychological |language = Hungarian|journal = Pszichológia |volume =1|pages = 1–5}}</ref> and Laszlo Garai<ref name = Garai>{{cite book|last =Garai|first = Laszlo|chapter= The Double-Storied Structure of Social Identity|title = Reconsidering Identity Economics|publisher = Palgrave Macmillan|location= New York|date = 2017|isbn = 978-1-137-52561-1}}</ref>).
There exists an anticipation and, simultaneously, implicit criticism of the nudge theory in works of Hungarian social psychologists who emphasize the active participation in the nudge of its target (Ferenc Merei and Laszlo Garai).
在匈牙利社会心理学家的著作中，存在着对轻推理论的预期，同时也存在着对这一理论的隐含批评，他们强调对目标的轻推的积极参与(Ferenc Merei 和 Laszlo Garai)。
=== Behavioral finance<!--'Behavioral finance' redirects here--> ===
[[File:Robert J. Shiller 2017.jpg|thumb|left|140px|[[Robert J. Shiller]], winner of the 2013 Nobel Prize in economics]]
[[Robert J. Shiller, winner of the 2013 Nobel Prize in economics]]
[罗勃·席勒，2013年诺贝尔经济学奖获得者]
The central issue in '''behavioral finance'''<!--boldface per WP:R#PLA--> is explaining why market participants make irrational [[systematic errors]] contrary to assumption of rational market participants.<ref name="ssrn.com" /> Such errors affect prices and returns, creating market inefficiencies. The study of behavioral finance also investigates how other participants take advantage ([[arbitrage]]) of such errors and market inefficiencies.
The central issue in behavioral finance<!--boldface per WP:R#PLA--> is explaining why market participants make irrational systematic errors contrary to assumption of rational market participants. Such errors affect prices and returns, creating market inefficiencies. The study of behavioral finance also investigates how other participants take advantage (arbitrage) of such errors and market inefficiencies.
行为金融学的核心问题---- 黑体 wp: r # pla----是解释为什么市场参与者与理性市场参与者的假设相反，会犯下非理性的系统性错误。这些错误会影响价格和回报，造成市场低效率。行为金融学的研究还探讨了其他参与者如何利用这些错误和市场无效率的优势(套利)。
Behavioral finance highlights inefficiencies, such as under- or over-reactions to information, as causes of [[market trend]]s and, in extreme cases, of [[Economic bubble|bubbles]] and [[Stock market crash|crashes]]. Such reactions have been attributed to limited investor attention, overconfidence, overoptimism, mimicry ([[herding instinct]]) and [[noise trader|noise trading]]. Technical analysts consider behavioral finance to be behavioral economics' "academic cousin" and the theoretical basis for [[technical analysis]].{{sfn|Kirkpatrick|Dahlquist|2007|p=49}}
Behavioral finance highlights inefficiencies, such as under- or over-reactions to information, as causes of market trends and, in extreme cases, of bubbles and crashes. Such reactions have been attributed to limited investor attention, overconfidence, overoptimism, mimicry (herding instinct) and noise trading. Technical analysts consider behavioral finance to be behavioral economics' "academic cousin" and the theoretical basis for technical analysis.
行为金融学强调了低效率，例如对信息反应不足或过度，这是市场趋势的原因，在极端情况下，也是泡沫和崩溃的原因。这种反应被归因于投资者注意力有限、过度自信、过于乐观、模仿(羊群本能)和噪音交易。技术分析家认为行为金融学是行为经济学的“学术表兄” ，是技术分析的理论基础。
Other key observations include the asymmetry between decisions to acquire or keep resources, known as the "bird in the bush" paradox, and [[loss aversion]], the unwillingness to let go of a valued possession. Loss aversion appears to manifest itself in investor behavior as a reluctance to sell shares or other equity if doing so would result in a nominal loss.{{citation needed|date=October 2018}} It may also help explain why housing prices rarely/slowly decline to market clearing levels during periods of low demand.
Other key observations include the asymmetry between decisions to acquire or keep resources, known as the "bird in the bush" paradox, and loss aversion, the unwillingness to let go of a valued possession. Loss aversion appears to manifest itself in investor behavior as a reluctance to sell shares or other equity if doing so would result in a nominal loss. It may also help explain why housing prices rarely/slowly decline to market clearing levels during periods of low demand.
其他关键观察还包括获取或保留资源的决定之间的不对称，即所谓的“丛林中的鸟”悖论，以及对损失的厌恶，即不愿意放弃有价值的财产。损失厌恶似乎表现为投资者不愿意出售股票或其他股权，如果这样做会导致名义上的损失。这也可能有助于解释为什么在需求低迷时期，房价很少 / 缓慢下降到市场清算水平。
Benartzi and Thaler, applying a version of [[prospect theory]], claim to have solved the [[equity premium puzzle]], something conventional finance models so far have been unable to do.{{sfn|Benartzi|Thaler|1995}} [[Experimental finance]] applies the experimental method, e.g., creating an artificial market through some kind of simulation software to study people's decision-making process and behavior in financial markets.
Benartzi and Thaler, applying a version of prospect theory, claim to have solved the equity premium puzzle, something conventional finance models so far have been unable to do. Experimental finance applies the experimental method, e.g., creating an artificial market through some kind of simulation software to study people's decision-making process and behavior in financial markets.
贝纳茨和塞勒应用前景理论的一个版本，声称已经解决了股权溢价之谜，这是传统金融模型迄今无法解决的问题。实验金融学应用实验方法，例如，通过某种模拟软体创造一个人工市场来研究人们在金融市场中的决策过程和行为。
==== Quantitative behavioral finance ====
[[Quantitative behavioral finance]] uses mathematical and statistical methodology to understand [[behavioral bias]]es. In marketing research, a study shows little evidence that escalating biases impact marketing decisions.<ref>{{cite journal|url=http://www.forecastingprinciples.com/paperpdf/Escalation%20Bias.pdf|title=Escalation Bias: Does It Extend to Marketing?|author=J. Scott Armstrong, Nicole Coviello and Barbara Safranek|journal=Journal of the Academy of Marketing Science|volume=21|pages=247–352|year=1993|doi=10.1177/0092070393213008|issue=3|citeseerx=<!--10.1.1.335.5132-->}}</ref> Leading contributors include [[Gunduz Caginalp]] (Editor of the [[Journal of Behavioral Finance]] from 2001–04), and collaborators include 2002 Nobel Laureate [[Vernon L. Smith|Vernon Smith]], David Porter, Don Balenovich,<ref name=porter>{{cite web|title=Dr. Donald A. Balenovich|publisher=Indiana University of Pennsylvania, Mathematics Department|url=http://www.ma.iup.edu/people/dabalen.html}}</ref> Vladimira Ilieva and Ahmet Duran,<ref name=duran>{{cite web|title=Ahmet Duran|publisher=Department of Mathematics, [[University of Michigan]]-Ann Arbor|url=http://www.umich.edu/~durana}}</ref> and Ray Sturm.<ref name=sturm>{{cite web|title=Dr Ray R. Sturm, CPA |publisher=College of Business Administration |url=http://www.bus.ucf.edu/rsturm |url-status=dead |archiveurl=https://web.archive.org/web/20060920114653/http://www.bus.ucf.edu/rsturm/ |archivedate=September 20, 2006 }}</ref>
Quantitative behavioral finance uses mathematical and statistical methodology to understand behavioral biases. In marketing research, a study shows little evidence that escalating biases impact marketing decisions. Leading contributors include Gunduz Caginalp (Editor of the Journal of Behavioral Finance from 2001–04), and collaborators include 2002 Nobel Laureate Vernon Smith, David Porter, Don Balenovich, Vladimira Ilieva and Ahmet Duran, and Ray Sturm.
定量行为金融学使用数学和统计方法来理解行为偏差。在营销研究中，一项研究显示，没有证据表明逐步升级的偏见会影响营销决策。主要贡献者包括 Gunduz Caginalp (2001-04年《行为金融学杂志》的编辑) ，合作者包括2002年诺贝尔奖获得者 Vernon Smith，David Porter，Don Balenovich，Vladimira Ilieva 和 Ahmet Duran，以及 Ray Sturm。
==== Financial models ====
Some financial models used in money management and asset valuation incorporate behavioral finance parameters. Examples:
Some financial models used in money management and asset valuation incorporate behavioral finance parameters. Examples:
一些用于货币管理和资产评估的金融模型纳入了行为金融学参数。例子:
* Thaler's model of price reactions to information, with three phases (underreaction, adjustment, and overreaction), creating a price [[market trend|trend]].
:One characteristic of overreaction is that average returns following announcements of good news is lower than following bad news. In other words, overreaction occurs if the market reacts too strongly or for too long to news, thus requiring an adjustment in the opposite direction. As a result, outperforming assets in one period is likely to underperform in the following period. This also applies to customers' irrational purchasing [[habit]]s.<ref>{{cite web|url=http://flevy.com/blog/why-people-wont-buy-your-product-even-though-its-awesome/|title=Why People Won't Buy Your Product Even Though It's Awesome|last=Tang|first=David|date=6 May 2013|publisher=Flevy|accessdate=31 May 2013}}</ref>
One characteristic of overreaction is that average returns following announcements of good news is lower than following bad news. In other words, overreaction occurs if the market reacts too strongly or for too long to news, thus requiring an adjustment in the opposite direction. As a result, outperforming assets in one period is likely to underperform in the following period. This also applies to customers' irrational purchasing habits.
过度反应的一个特点是，好消息宣布后的平均收益低于坏消息。换句话说，如果市场对新闻反应过强或持续时间过长，就会出现过度反应，因此需要朝相反方向进行调整。因此，在一个时期表现优异的资产在下一个时期可能表现不佳。这也适用于消费者不合理的购买习惯。
* The [[stock valuation|stock image]] coefficient.
==== Criticisms ====
Critics such as [[Eugene Fama]] typically support the [[efficient-market hypothesis]]. They contend that behavioral finance is more a collection of [[Market anomaly|anomalies]] than a true branch of [[finance]] and that these anomalies are either quickly priced out of the market or explained by appealing to [[market microstructure]] arguments. However, individual [[cognitive bias]]es are distinct from social biases; the former can be averaged out by the market, while the other can create positive [[feedback loop]]s that drive the market further and further from a "[[fair price]]" equilibrium. Similarly, for an anomaly to violate market efficiency, an investor must be able to trade against it and earn abnormal profits; this is not the case for many anomalies.<ref>{{Cite web|url=http://www.dimensional.com/famafrench/2009/08/fama-on-market-efficiency-in-a-volatile-market.html|archiveurl=https://web.archive.org/web/20100324015212/http://www.dimensional.com/famafrench/2009/08/fama-on-market-efficiency-in-a-volatile-market.html|url-status=dead|title=Fama on Market Efficiency in a Volatile Market|archivedate=March 24, 2010}}</ref>
Critics such as Eugene Fama typically support the efficient-market hypothesis. They contend that behavioral finance is more a collection of anomalies than a true branch of finance and that these anomalies are either quickly priced out of the market or explained by appealing to market microstructure arguments. However, individual cognitive biases are distinct from social biases; the former can be averaged out by the market, while the other can create positive feedback loops that drive the market further and further from a "fair price" equilibrium. Similarly, for an anomaly to violate market efficiency, an investor must be able to trade against it and earn abnormal profits; this is not the case for many anomalies.
像 Eugene Fama 这样的批评家典型地支持效率市场假说。他们认为，行为金融学更多的是一个异常现象的集合，而不是一个真正的金融分支，这些异常现象要么很快被定价出市场，要么通过吸引市场微观结构的论点来解释。然而，个人认知偏差不同于社会偏差; 前者可以由市场平均化，而后者可以创造正反馈循环，使市场越来越偏离”公平价格”均衡。同样，对于违反市场效率的反常现象，投资者必须能够对其进行交易并获得异常利润; 许多反常现象并非如此。
A specific example of this criticism appears in some explanations of the [[equity premium puzzle]]. It is argued that the cause is [[barriers to entry|entry barriers]] (both practical and psychological) and that returns between stocks and bonds should equalize as electronic resources open up the stock market to more traders.<ref>See Freeman, 2004 for a review</ref> In response, others contend that most personal investment funds are managed through superannuation funds, minimizing the effect of these putative entry barriers.{{citation needed|date=July 2016}} In addition, professional investors and fund managers seem to hold more bonds than one would expect given return differentials.{{citation needed|date=July 2016}}
A specific example of this criticism appears in some explanations of the equity premium puzzle. It is argued that the cause is entry barriers (both practical and psychological) and that returns between stocks and bonds should equalize as electronic resources open up the stock market to more traders. In response, others contend that most personal investment funds are managed through superannuation funds, minimizing the effect of these putative entry barriers. In addition, professional investors and fund managers seem to hold more bonds than one would expect given return differentials.
这种批评的一个具体例子出现在对股票溢价之谜的一些解释中。有人认为，原因是进入壁垒(实际和心理上的) ，随着电子资源向更多的交易者开放股票市场，股票和债券之间的回报应该相等。作为回应，其他人认为，大多数个人投资基金是通过养老基金管理的，最小化这些假定的进入壁垒的影响。此外，考虑到回报率差异，专业投资者和基金经理持有的债券似乎超出了人们的预期。
=== Behavioral game theory ===
{{Main|Behavioral game theory}}
Behavioral game theory, invented by [[Colin Camerer]], analyzes interactive [[Strategy (game theory)|strategic]] decisions and behavior using the [[methodology|methods]] of [[game theory]],<ref>{{cite web |first=Robert |last=Auman |authorlink=Robert Aumann|title=Game Theory |url=http://www.dictionaryofeconomics.com/articleid=pde2008_G000007&q=game%20theory&topicid=&result_number=3}} in {{harvnb|Palgrave|ref=Palgrave}}</ref> [[Experimental economics#Experimental topics|experimental economics]], and [[experimental psychology]]. Experiments include testing deviations from typical simplifications of economic theory such as the [[Independence of irrelevant alternatives|independence axiom]]<ref>{{cite journal | last1 = Camerer | first1 = Colin | last2 = Ho | first2 = Teck-Hua | author-link1 = Colin Camerer | title = Violations of the betweenness axiom and nonlinearity in probability | journal = Journal of Risk and Uncertainty | volume = 8 | issue = 2 | pages = 167–96 | date = March 1994 | ref = harv | doi=10.1007/bf01065371}}</ref> and neglect of [[altruism]],<ref>{{cite web |first=James |last=Andreoni |title=Altruism in experiments |url=http://www.dictionaryofeconomics.com/article?id=pde008_A000240&edition=current&q=altruism%20game&topicid=&result_number=2 |display-authors=etal}} in {{harvnb|Palgrave|ref=Palgrave}}</ref> [[Fair division|fairness]],<ref>{{cite web |first=H. Peyton |last=Young |authorlink=H. Peyton Young |title=Social norms
Behavioral game theory, invented by Colin Camerer, analyzes interactive strategic decisions and behavior using the methods of game theory, experimental economics, and experimental psychology. Experiments include testing deviations from typical simplifications of economic theory such as the independence axiom and neglect of altruism, fairness,<ref>{{cite web |first=H. Peyton |last=Young |authorlink=H. Peyton Young |title=Social norms
行为博弈论由科林 · 卡梅勒发明，运用博弈论、实验经济学和实验心理学的方法分析交互式的战略决策和行为。实验包括检验经济理论典型简化的偏差，如独立公理和忽视利他主义、公平、公正。佩顿 | 上一个年轻人 | 作者 / 链接 h。佩顿 · 杨 | 标题社会规范
|url=http://www.dictionaryofeconomics.com/article?id=pde2008_S000466&edition=current&q=fairness%20game%20&topicid=&result_number=1 }} in {{harvnb|Palgrave|ref=Palgrave}}</ref> and [[Framing effect (psychology)|framing effects]].<ref>{{cite journal | last = Camerer | first = Colin | author-link = Colin Camerer | title = Progress in behavioral game theory | journal = Journal of Economic Perspectives | volume = 11 | issue = 4 | page = 172 | date = 1997 | url = http://www.hss.caltech.edu/content/progress-and-behavioral-game-theory | ref = harv | doi = 10.1257/jep.11.4.167 | access-date = 2014-10-31 | archive-url = https://web.archive.org/web/20171223112437/http://www.hss.caltech.edu/content/progress-and-behavioral-game-theory | archive-date = 2017-12-23 | url-status = dead }} [http://authors.library.caltech.edu/22122/1/2138470%5B1%5D.pdf Pdf version.]</ref> On the [[positive economics|positive]] side, the method has been applied to interactive learning<ref>{{cite web|first=Teck H. |last=Ho |year=2008 |title=Individual learning in games |url=http://www.dictionaryofeconomics.com/article?id=pde2008_L000055 }} in {{harvnb|Palgrave|ref=Palgrave}}</ref> and [[social preference]]s.<ref>{{cite journal |first1=Martin |last1=Dufwenberg |first2=Georg |last2=Kirchsteiger |year=2004 |title=A Theory of Sequential reciprocity |journal=Games and Economic Behavior |issue=2 |pages=268–98 |doi=10.1016/j.geb.2003.06.003 |volume=47|citeseerx=10.1.1.124.9311 }}</ref><ref>{{cite web |first=Faruk |last=Gul |authorlink=Faruk Gul |year=2008 |title=Behavioural economics and game theory |url=http://www.dictionaryofeconomics.com/article?id=pde2008_G000210&edition=current&q=behavioural%20economics%20&topicid=&result_number=2}} in {{harvnb|Palgrave|ref=Palgrave}}</ref><ref>{{cite web |first=Colin F. |last=Camerer |authorlink=Colin F. Camerer |year=2008 |title=Behavioral game theory |url=http://www.dictionaryofeconomics.com/article?id=pde2008_B000302&q=Behavioral%20economics%20&topicid=&result_number=13 }} in {{harvnb|Palgrave|ref=Palgrave}}</ref> As a research program, the subject is a development of the last three decades.<ref>{{cite book | last = Camerer | first = Colin | author-link = Colin Camerer | title = Behavioral game theory: experiments in strategic interaction | publisher = Russell Sage Foundation Princeton University Press | location = New York, New York Princeton, New Jersey | year = 2003 | isbn = 978-0-691-09039-9 |url={{google books |plainurl=y |id=cr_Xg7cRvdcC}} }}</ref><ref>{{cite book |first1 = George |last1=Loewenstein |authorlink1 =George Loewenstein |first2=Matthew |last2=Rabin |authorlink2=Matthew Rabin |year=2003 |title=Advances in Behavioral Economics 1986–2003 papers |location=Princeton |url=http://press.princeton.edu/titles/8437.html }}</ref><ref>{{cite journal |last=Fudenberg |first=Drew |authorlink=Drew Fudenberg |year=2006 |title=Advancing Beyond Advances in Behavioral Economics |journal=Journal of Economic Literature |volume=44 |issue=3 | jstor=30032349 |pages= 694–711 |doi=10.1257/jel.44.3.694|citeseerx=10.1.1.1010.3674 }}</ref><ref>{{cite book |first=Vincent P. |last=Crawford |year=1997 |title=Theory and Experiment in the Analysis of Strategic Interaction |journal=Advances in Economics and Econometrics: Theory and Applications |pages=206–42 |url=http://weber.ucsd.edu/~vcrawfor/CrawfordThExp97.pdf |location =Cambridge|doi=10.1017/CCOL521580110.007 |citeseerx=10.1.1.298.3116 |isbn=9781139052009 |editor1-last=Kreps |editor1-first=David M |editor2-last=Wallis |editor2-first=Kenneth F }}</ref><ref>{{cite book |first=Martin |last=Shubik |authorlink=Martin Shubik |year=2002 |title=Game Theory and Experimental Gaming |editor-first1=R. |editor-last1=Aumann and |editor-first2=S. |editor-last2=Hart |publisher=Elsevier |volume= 3 |pages= 2327–51 |doi=10.1016/S1574-0005(02)03025-4|chapter=Chapter 62 Game theory and experimental gaming |series=Handbook of Game Theory with Economic Applications |isbn=9780444894281 }}</ref><ref>{{cite book |first1= Charles R.|last1=Plott |authorlink= | last2= Smith| first2 = Vernon l| year=2002 |title=Game Theory and Experimental Gaming |editor-first1=R. |editor-last1=Aumann and |editor-first2=S. |editor-last2=Hart |work=Handbook of Game Theory with Economic Applications |publisher=Elsevier |volume= 4 |pages= 387–615 | doi=10.1016/S1574-0722(07)00121-7 | chapter= 45–66 |series=Handbook of Experimental Economics Results |isbn=9780444826428 }}</ref><ref>''[[Games and Economic Behavior]]'' (journal), Elsevier. [http://www.journals.elsevier.com/games-and-economic-behavior Online]</ref>
|url=http://www.dictionaryofeconomics.com/article?id=pde2008_S000466&edition=current&q=fairness%20game%20&topicid=&result_number=1 }} in </ref> and framing effects. On the positive side, the method has been applied to interactive learning and social preferences. As a research program, the subject is a development of the last three decades.
和帧 http://www.dictionaryofeconomics.com/article?id=pde2008_s000466&edition=current&q=fairness%20game%20&topicid=&result_number=1效果。积极的一面是，这种方法已经应用于交互式学习和社会偏好。作为一门研究课题，本课题是近三十年来的发展。
=== Economic reasoning in animals ===
A handful of [[comparative psychology|comparative psychologists]] have attempted to demonstrate quasi-economic reasoning in non-human animals. Early attempts along these lines focus on the behavior of [[laboratory rat|rats]] and [[rock pigeon|pigeons]]. These studies draw on the tenets of [[comparative psychology]], where the main goal is to discover analogs to human behavior in [[experiment]]ally-tractable non-human animals. They are also methodologically similar to the work of [[Charles Ferster|Ferster]] and [[B. F. Skinner|Skinner]].<ref name="skin">{{cite book |last=Ferster |first=C. B. |year=1957 |title=Schedules of Reinforcement |url=https://archive.org/details/schedulesofreinf0000fers |url-access=registration |location=New York |publisher=Appleton-Century-Crofts |display-authors=etal}}</ref> Methodological similarities aside, early researchers in non-human economics deviate from [[behaviorism]] in their [[terminology]]. Although such studies are set up primarily in an [[operant conditioning chamber]] using food rewards for pecking/bar-pressing behavior, the researchers describe pecking and bar-pressing not in terms of [[reinforcement]] and [[stimulus-response model|stimulus-response relationships]] but instead in terms of work, [[demand (economics)|demand]], [[budget]], and [[employment|labor]]. Recent studies have adopted a slightly different approach, taking a more [[evolution]]ary perspective, comparing economic behavior of humans to a species of non-human [[primate]], the [[capuchin monkey]].<ref name="monkey">{{cite journal |last=Chen |first=M. K. |year=2006 |title=How Basic Are Behavioral Biases? Evidence from Capuchin Monkey Trading Behavior |journal=[[Journal of Political Economy]] |volume=114 |issue=3 |pages=517–37 |doi=10.1086/503550 |display-authors=etal|citeseerx=10.1.1.594.4936 }}</ref>
A handful of comparative psychologists have attempted to demonstrate quasi-economic reasoning in non-human animals. Early attempts along these lines focus on the behavior of rats and pigeons. These studies draw on the tenets of comparative psychology, where the main goal is to discover analogs to human behavior in experimentally-tractable non-human animals. They are also methodologically similar to the work of Ferster and Skinner. Methodological similarities aside, early researchers in non-human economics deviate from behaviorism in their terminology. Although such studies are set up primarily in an operant conditioning chamber using food rewards for pecking/bar-pressing behavior, the researchers describe pecking and bar-pressing not in terms of reinforcement and stimulus-response relationships but instead in terms of work, demand, budget, and labor. Recent studies have adopted a slightly different approach, taking a more evolutionary perspective, comparing economic behavior of humans to a species of non-human primate, the capuchin monkey.
一些比较心理学家试图证明非人类动物的准经济推理。这方面的早期尝试集中在老鼠和鸽子的行为上。这些研究利用了比较心理学的原则，其主要目标是在实验上发现类似于人类行为的非人类动物。它们在方法上也与费斯特和斯金纳的工作相似。撇开方法上的相似性不谈，非人类经济学的早期研究者在他们的术语中偏离了行为主义。尽管这些研究主要建立在美国操作制约箱，用食物奖励啄食 / 按棒的行为，研究人员描述啄食和按棒不是从强化和刺激反应关系的角度，而是从工作、需求、预算和劳动力的角度。最近的研究采用了稍微不同的方法，从更进化的角度，将人类的经济行为与一种非人类灵长类动物——卷尾猴进行了比较。
==== Animal studies ====
Many early studies of non-human economic reasoning were performed on rats and pigeons in an operant conditioning chamber. These studies looked at things like peck rate (in the case of the pigeon) and bar-pressing rate (in the case of the rat) given certain conditions of reward. Early researchers claim, for example, that response pattern (pecking/bar-pressing rate) is an appropriate analogy to human [[labour supply|labor supply]].<ref name="bat">{{cite journal |last=Battalio |first=R. C. |year=1981 |title=Income-Leisure Tradeoffs of Animal Workers |journal=[[American Economic Review]] |volume=71 |issue=4 |pages=621–32 |jstor=1806185 |doi= |display-authors=etal}}</ref> Researchers in this field advocate for the appropriateness of using animal economic behavior to understand the elementary components of human economic behavior.<ref name="kbook">{{cite book|first1=John H. |last1=Kagel|first2=Raymond C. |last2=Battalio|first3=Leonard |last3=Green|title=Economic Choice Theory: An Experimental Analysis of Animal Behavior|url={{google books |plainurl=y |id=s4zk69tXQs8C}}|year=1995|publisher=Cambridge University Press|isbn=978-0-521-45488-9}}</ref> In a paper by Battalio, Green, and Kagel,<ref name="bat" /> they write,
Many early studies of non-human economic reasoning were performed on rats and pigeons in an operant conditioning chamber. These studies looked at things like peck rate (in the case of the pigeon) and bar-pressing rate (in the case of the rat) given certain conditions of reward. Early researchers claim, for example, that response pattern (pecking/bar-pressing rate) is an appropriate analogy to human labor supply. Researchers in this field advocate for the appropriateness of using animal economic behavior to understand the elementary components of human economic behavior. In a paper by Battalio, Green, and Kagel, they write,
许多关于非人类经济推理的早期研究都是在操作制约箱的老鼠和鸽子身上进行的。这些研究观察了在一定的奖励条件下的啄食率(在鸽子身上)和压棒率(在老鼠身上)。例如，早期的研究人员声称，反应模式(啄食 / 压棒速率)与人类劳动力供应是一个恰当的类比。这个领域的研究人员主张用动物的经济行为来理解人类经济行为的基本组成部分是合适的。格林和卡格尔在他们的一篇论文中写道:
{{quote|Space considerations do not permit a detailed discussion of the reasons why economists should take seriously the investigation of economic theories using nonhuman subjects....[Studies of economic behavior in non-human animals] provide a laboratory for identifying, testing, and better understanding general laws of economic behavior. Use of this laboratory is predicated on the fact that behavior, as well as structure, vary continuously across species, and that principles of economic behavior would be unique among behavioral principles if they did not apply, with some variation, of course, to the behavior of nonhumans.}}
==== Labor supply ====
The typical laboratory environment to study labor supply in pigeons is set up as follows. Pigeons are first deprived of food. Since the animals become hungry, food becomes highly desired. The pigeons are then placed in an operant conditioning chamber and through [[Shaping (psychology)|orienting and exploring]] the environment of the chamber they discover that by pecking a small disk located on one side of the chamber, food is delivered to them. In effect, pecking behavior becomes [[reinforcement|reinforced]], as it is associated with food. Before long, the pigeon pecks at the disk (or stimulus) regularly.
The typical laboratory environment to study labor supply in pigeons is set up as follows. Pigeons are first deprived of food. Since the animals become hungry, food becomes highly desired. The pigeons are then placed in an operant conditioning chamber and through orienting and exploring the environment of the chamber they discover that by pecking a small disk located on one side of the chamber, food is delivered to them. In effect, pecking behavior becomes reinforced, as it is associated with food. Before long, the pigeon pecks at the disk (or stimulus) regularly.
建立了鸽子劳动供给研究的典型实验室环境。鸽子首先被剥夺了食物。由于动物变得饥饿，食物变得非常渴望。然后鸽子被放置在操作制约箱中，通过定向和探索房间的环境，它们发现通过啄食房间一侧的小圆盘，食物被送到它们那里。实际上，啄食行为变得强化，因为它与食物有关。不久之后，鸽子定期啄食圆盘(或刺激物)。
In this circumstance, the pigeon is said to "work" for the food by pecking. The food, then, is thought of as the currency. The value of the currency can be adjusted in several ways, including the amount of food delivered, the rate of food delivery and the type of food delivered (some foods are more desirable than others).
In this circumstance, the pigeon is said to "work" for the food by pecking. The food, then, is thought of as the currency. The value of the currency can be adjusted in several ways, including the amount of food delivered, the rate of food delivery and the type of food delivered (some foods are more desirable than others).
在这种情况下，据说鸽子“工作”的食物啄。因此，食物被认为是货币。货币的价值可以通过几种方式进行调整，包括交付食品的数量、交付食品的速度和交付食品的类型(有些食品比其他食品更受欢迎)。
Economic behavior similar to that observed in humans is discovered when the hungry pigeons stop working/work less when the reward is reduced. Researchers argue that this is similar to [[labour supply|labor supply]] behavior in humans. That is, like humans (who, even in need, will only work so much for a given wage), the pigeons demonstrate decreases in pecking (work) when the reward (value) is reduced.<ref name="bat" />
Economic behavior similar to that observed in humans is discovered when the hungry pigeons stop working/work less when the reward is reduced. Researchers argue that this is similar to labor supply behavior in humans. That is, like humans (who, even in need, will only work so much for a given wage), the pigeons demonstrate decreases in pecking (work) when the reward (value) is reduced.
当奖励减少时，饥饿的鸽子停止工作 / 减少工作时，就会发现与人类相似的经济行为。研究人员认为，这与人类的劳动供给行为相似。也就是说，就像人类一样(即使在需要的时候，也只会为了给定的工资而工作那么多) ，当回报(价值)减少时，鸽子会表现出啄食(工作)的减少。
==== Demand ====
In human economics, a typical [[demand curve]] has [[slope|negative slope]]. This means that as the price of a certain good increase, the amount that consumers are willing and able to purchase decreases. Researchers studying the demand curves of non-human animals, such as rats, also find downward slopes.
In human economics, a typical demand curve has negative slope. This means that as the price of a certain good increase, the amount that consumers are willing and able to purchase decreases. Researchers studying the demand curves of non-human animals, such as rats, also find downward slopes.
在人类经济学中，典型的需求曲线具有负斜率。这意味着，随着某种商品的价格上涨，消费者愿意并且能够购买的数量会减少。研究人员在研究非人类动物(如老鼠)的需求曲线时，也发现了下滑趋势。
Researchers have studied demand in rats in a manner distinct from studying labor supply in pigeons. Specifically, in an operant conditioning chamber containing rats as experimental subjects, we require them to press a bar, instead of pecking a small disk, to receive a reward. The reward can be food (reward pellets), water, or a commodity drink such as [[cherry cola]]. Unlike in previous pigeon studies, where the work analog was pecking and the monetary analog was a reward, the work analog in this experiment is bar-pressing. Under these circumstances, the researchers claim that changing the number of bar presses required to obtain a commodity item is analogous to changing the price of a commodity item in human economics.<ref name="kag">{{cite journal |last=Kagel |first=J. H. |year=1981 |title=Demand Curves for Animal Consumers |journal=[[Quarterly Journal of Economics]] |volume=96 |issue=1 |pages=1–16 |doi=10.2307/2936137|display-authors=etal |jstor=2936137}}</ref>
Researchers have studied demand in rats in a manner distinct from studying labor supply in pigeons. Specifically, in an operant conditioning chamber containing rats as experimental subjects, we require them to press a bar, instead of pecking a small disk, to receive a reward. The reward can be food (reward pellets), water, or a commodity drink such as cherry cola. Unlike in previous pigeon studies, where the work analog was pecking and the monetary analog was a reward, the work analog in this experiment is bar-pressing. Under these circumstances, the researchers claim that changing the number of bar presses required to obtain a commodity item is analogous to changing the price of a commodity item in human economics.
研究人员用一种不同于研究鸽子劳力供应的方式来研究老鼠的需求。具体来说，在一个以老鼠为实验对象的操作制约箱中，我们要求他们按下一个按钮，而不是啄一个小圆盘，以获得奖励。奖励可以是食物(奖励颗粒) ，水，或者像樱桃可乐这样的日用品饮料。在以前的鸽子研究中，工作模拟是啄食，金钱模拟是奖励，而这次实验中的工作模拟是按条。在这种情况下，研究人员声称，改变棒材印刷机的数量，以获得商品项目类似于改变价格的商品项目在人类经济学。
In effect, results of demand studies in non-human animals show that, as the bar-pressing requirement (cost) increase, the number of times an animal presses the bar equal to or greater than the bar-pressing requirement (payment) decreases.
In effect, results of demand studies in non-human animals show that, as the bar-pressing requirement (cost) increase, the number of times an animal presses the bar equal to or greater than the bar-pressing requirement (payment) decreases.
实际上，对非人类动物的需求研究结果表明，随着压杆要求(成本)的增加，动物压杆等于或大于压杆要求(支付)的次数减少。
=== Evolutionary psychology ===
{{Main|Evolutionary psychology}}
{{Further|Evolutionary economics}}
An [[evolutionary psychology]] perspective states that many of the perceived limitations in rational choice can be explained as being rational in the context of maximizing biological [[Fitness (biology)|fitness]] in the ancestral environment, but not necessarily in the current one. Thus, when living at subsistence level where a reduction of resources may result in death, it may have been rational to place a greater value on preventing losses than on obtaining gains. It may also explain behavioral differences between groups, such as males being less risk-averse than females since males have more variable [[reproductive success]] than females. While unsuccessful risk-seeking may limit reproductive success for both sexes, males may potentially increase their reproductive success from successful risk-seeking much more than females can.<ref name=AEP>Paul H. Rubin and C. Monica Capra. The evolutionary psychology of economics. In {{Cite book | last1 = Roberts | first1 = S. C. | editor1-last = Roberts | doi = 10.1093/acprof:oso/9780199586073.001.0001 | editor1-first = S. Craig | title = Applied Evolutionary Psychology | year = 2011 | publisher = Oxford University Press| isbn = 9780199586073 | pmid = | pmc = |url={{google books |plainurl=y |id=I20uPfEjsNQC}}}}</ref>
An evolutionary psychology perspective states that many of the perceived limitations in rational choice can be explained as being rational in the context of maximizing biological fitness in the ancestral environment, but not necessarily in the current one. Thus, when living at subsistence level where a reduction of resources may result in death, it may have been rational to place a greater value on preventing losses than on obtaining gains. It may also explain behavioral differences between groups, such as males being less risk-averse than females since males have more variable reproductive success than females. While unsuccessful risk-seeking may limit reproductive success for both sexes, males may potentially increase their reproductive success from successful risk-seeking much more than females can.
进化心理学的观点认为，理性选择中的许多可感知的局限性可以被解释为在祖先环境中最大化生物适应性的背景下是理性的，但不一定是在当前环境中。因此，当生活在资源减少可能导致死亡的维持生计水平时，理性的做法可能是把更大的价值放在防止损失而不是获得收益上。这也可以解释不同群体之间的行为差异，例如男性比女性更少规避风险，因为男性比女性有更多的可变的繁殖成功。虽然不成功的冒险行为可能会限制两性的繁殖成功，但雄性比雌性更有可能通过成功的冒险行为来提高繁殖成功率。
=== Artificial intelligence ===
{{Main|Artificial intelligence}}
Much of the decisions are more and more made either by human beings with the assistance of artificial intelligent machines or wholly made by these machines. [[Tshilidzi Marwala]] and [[Evan Hurwitz]] in their book,<ref name="ReferenceA">{{cite book |last1=Marwala |first1= Tshilidzi| last2=Hurwitz |first2= Evan |title=Artificial Intelligence and Economic Theory: Skynet in the Market |year=2017 |publisher=[[Springer Science+Business Media|Springer]] |location=London |isbn=978-3-319-66104-9}}</ref> studied the utility of behavioral economics in such situations and concluded that these intelligent machines reduce the impact of bounded rational decision making. In particular, they observed that these intelligent machines reduce the degree of [[information asymmetry]] in the market, improve decision making and thus making markets more rational.
Much of the decisions are more and more made either by human beings with the assistance of artificial intelligent machines or wholly made by these machines. Tshilidzi Marwala and Evan Hurwitz in their book, studied the utility of behavioral economics in such situations and concluded that these intelligent machines reduce the impact of bounded rational decision making. In particular, they observed that these intelligent machines reduce the degree of information asymmetry in the market, improve decision making and thus making markets more rational.
许多决策越来越多地由人类在人工智能机器的帮助下做出，或者完全由这些机器做出。和 Evan Hurwitz 在他们的书中，研究了行为经济学在这种情况下的效用，并得出结论，这些智能机器减少了有限理性决策的影响。特别是，他们观察到这些智能机器降低了市场的信息不对称，改善了决策，从而使市场更加理性。
The use of AI machines in the market in applications such as online trading and decision making has changed major economic theories.<ref name="ReferenceA"/> Other theories where AI has had impact include in [[rational choice]], [[rational expectations]], [[game theory]], [[Lewis turning point]], [[portfolio optimization]] and [[counterfactual thinking]].
The use of AI machines in the market in applications such as online trading and decision making has changed major economic theories. Other theories where AI has had impact include in rational choice, rational expectations, game theory, Lewis turning point, portfolio optimization and counterfactual thinking.
人工智能机器在市场上的应用，如在线交易和决策，改变了主要的经济理论。人工智能影响的其他理论包括理性选择、理性预期、博弈论、刘易斯转折点、投资组合优化和反事实思维。
== Related fields ==
=== Experimental economics ===
{{Main|Experimental economics}}
Experimental economics is the application of [[Experiment|experimental methods]], including [[statistical]], [[econometric]], and [[computational economics|computational]],<ref>{{cite journal | last1 = Roth | first1 = Alvin E. | authorlink = Alvin E. Roth | year = 2002 | title = The Economist as Engineer: Game Theory, Experimentation, and Computation as Tools for Design Economics | url = http://kuznets.fas.harvard.edu/~aroth/papers/engineer.pdf | format = PDF | journal = Econometrica | volume = 70 | issue = 4| pages = 1341–1378 | doi = 10.1111/1468-0262.00335 }}</ref> to study economic questions. [[Economic data|Data]] collected in experiments are used to estimate [[effect size]], test the validity of economic theories, and illuminate market mechanisms. Economic experiments usually use cash to motivate subjects, in order to mimic real-world incentives. Experiments are used to help understand how and why markets and other exchange systems function as they do. Experimental economics have also expanded to understand institutions and the law (experimental law and economics).<ref>{{cite journal | last1 = See | first1 = | authorlink2 = Kristoffel Grechenig | last2 = Grechenig | first2 = K. | last3 = Nicklisch | first3 = A. | last4 = Thöni | first4 = C. | year = 2010 | title = Punishment despite reasonable doubt—a public goods experiment with sanctions under uncertainty | url = http://ssrn.com/abstract=1586775 | journal = Journal of Empirical Legal Studies | volume = 7 | issue = 4| pages = 847–867 }}</ref>
Experimental economics is the application of experimental methods, including statistical, econometric, and computational, to study economic questions. Data collected in experiments are used to estimate effect size, test the validity of economic theories, and illuminate market mechanisms. Economic experiments usually use cash to motivate subjects, in order to mimic real-world incentives. Experiments are used to help understand how and why markets and other exchange systems function as they do. Experimental economics have also expanded to understand institutions and the law (experimental law and economics).
实验经济学是实验方法的应用，包括统计学、计量经济学和计算经济学，以研究经济问题。实验中收集的数据用于估计效果大小，检验经济理论的有效性，并阐明市场机制。经济实验通常使用现金来激励受试者，以模仿现实世界的激励。实验被用来帮助理解市场和其他交易系统是如何以及为什么这样运作的。实验经济学还扩展到对机构和法律(实验法律和经济学)的理解。
A fundamental aspect of the subject is [[design of experiments]]. Experiments may be conducted in the [[Field experiments|field]] or in laboratory settings, whether of [[Experimental psychology|individual]] or [[Social psychology|group]] behavior.<ref>• [[Vernon L. Smith]], 2008a. "experimental methods in economics," ''[[The New Palgrave Dictionary of Economics]]'', 2nd Edition, [http://www.dictionaryofeconomics.com/article?id=pde2008_E000186&q=Experimental%20economics&topicid=&result_number=2 Abstract.]
A fundamental aspect of the subject is design of experiments. Experiments may be conducted in the field or in laboratory settings, whether of individual or group behavior.<ref>• Vernon L. Smith, 2008a. "experimental methods in economics," The New Palgrave Dictionary of Economics, 2nd Edition, [http://www.dictionaryofeconomics.com/article?id=pde2008_E000186&q=Experimental%20economics&topicid=&result_number=2 Abstract.]
这门学科的一个基本方面是实验设计。实验可以在野外进行，也可以在实验室环境中进行，无论是个人行为还是群体行为。 文件编号: Vernon l. Smith，2008 a。“经济学中的实验方法” ，新帕尔格雷夫经济学词典，第二版，[ http://www.dictionaryofeconomics.com/article?id=pde2008_e000186&q=experimental%20economics&topicid=&result_number=2摘要]
<br /> • _____, 2008b. "experimental economics," ''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_E000277&q=experimental%20&topicid=&result_number=2 Abstract.]<br /> • Relevant subcategories are found at the ''Journal of Economic Literature'' classification codes at [[JEL classification codes#Mathematical and quantitative methods JEL: C Subcategories|JEL: C9]].</ref>
<br /> • _____, 2008b. "experimental economics," The New Palgrave Dictionary of Economics, 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_E000277&q=experimental%20&topicid=&result_number=2 Abstract.]<br /> • Relevant subcategories are found at the Journal of Economic Literature classification codes at JEL: C9.</ref>
<br /> • _____, 2008b.“实验经济学” ，新帕尔格雷夫经济学词典，第二版。[ http://www.dictionaryofeconomics.com/article?id=pde2008_e000277&q=experimental%20&topicid=&result_number=2摘要。[ br / •相关的子类别见于《经济文献杂志》的分类代码 JEL: C9. / ref
Variants of the subject outside such formal confines include [[natural experiment|natural]] and [[quasi-natural experiment]]s.<ref>J. DiNardo, 2008. "natural experiments and quasi-natural experiments," ''The New Palgrave Dictionary of Economics'', 2nd Edition. [http://www.dictionaryofeconomics.com/article?id=pde2008_N000142&edition=current&q Abstract.]</ref>
Variants of the subject outside such formal confines include natural and quasi-natural experiments.
在这种正式的范围之外，主题的变体包括自然实验和准自然实验。
=== Neuroeconomics ===
{{Main|Neuroeconomics}}
Neuroeconomics is an [[Interdisciplinarity|interdisciplinary]] field that seeks to explain human [[decision making]], the ability to process multiple alternatives and to follow a course of action. It studies how economic behavior can shape our understanding of the [[brain]], and how neuroscientific discoveries can constrain and guide models of economics.<ref name="neuroeconomics.duke.edu">{{cite web|url =https://dibs.duke.edu/centers/d-cides/about/research|title = Research|website = Duke Institute for Brain Sciences}}</ref>
Neuroeconomics is an interdisciplinary field that seeks to explain human decision making, the ability to process multiple alternatives and to follow a course of action. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can constrain and guide models of economics.
神经经济学是一个跨学科的领域，旨在解释人类决策，处理多种选择的能力，并遵循一个行动过程。它研究经济行为如何塑造我们对大脑的理解，以及神经科学的发现如何约束和指导经济学模型。
It combines research methods from [[neuroscience]], [[Experimental economics|experimental]] and behavioral economics, and [[Cognitive psychology|cognitive]] and [[Social psychology|social]] psychology.<ref name="LevalloisClithero2012">{{cite journal|last1=Levallois|first1=Clement|last2=Clithero|first2=John A.|last3=Wouters|first3=Paul|last4=Smidts|first4=Ale|last5=Huettel|first5=Scott A.|title=Translating upwards: linking the neural and social sciences via neuroeconomics|journal=Nature Reviews Neuroscience|volume=13|issue=11|year=2012|pages=789–797|issn=1471-003X|doi=10.1038/nrn3354|pmid=23034481}}</ref> As research into decision-making behavior becomes increasingly computational, it has also incorporated new approaches from [[theoretical biology]], [[computer science]], and [[mathematics]]. Neuroeconomics studies decision making by using a combination of tools from these fields so as to avoid the shortcomings that arise from a single-perspective approach. In [[mainstream economics]], [[Expected utility hypothesis|expected utility]] (EU) and the concept of [[rational agents]] are still being used. Many economic behaviors are not fully explained by these models, such as [[heuristics]] and [[Framing (social sciences)|framing]].<ref name="annualreviews.org">{{cite journal | last1 = Loewenstein | first1 = G. | last2 = Rick | first2 = S. | last3 = Cohen | first3 = J. | year = 2008 | title = Neuroeconomics| url = | journal = Annual Reviews | volume = 59 | issue = | pages = 647–672 | doi = 10.1146/annurev.psych.59.103006.093710 | pmid = 17883335 }}</ref>
It combines research methods from neuroscience, experimental and behavioral economics, and cognitive and social psychology. As research into decision-making behavior becomes increasingly computational, it has also incorporated new approaches from theoretical biology, computer science, and mathematics. Neuroeconomics studies decision making by using a combination of tools from these fields so as to avoid the shortcomings that arise from a single-perspective approach. In mainstream economics, expected utility (EU) and the concept of rational agents are still being used. Many economic behaviors are not fully explained by these models, such as heuristics and framing.
它结合了神经科学、实验和行为经济学以及认知和社会心理学的研究方法。随着对决策行为的研究变得越来越计算化，它也吸收了来自理论生物学、计算机科学和数学的新方法。神经经济学研究决策制定，使用来自这些领域的工具的组合，以避免出现的缺点，从一个单一的观点方法。在主流经济学中，预期效用(EU)和理性主体的概念仍然被使用。许多经济行为并没有完全用这些模型来解释，比如启发式和框架式。
Behavioral economics emerged to account for these anomalies by integrating social, cognitive, and emotional factors in understanding economic decisions. Neuroeconomics adds another layer by using neuroscientific methods in understanding the interplay between economic behavior and neural mechanisms. By using tools from various fields, some scholars claim that neuroeconomics offers a more integrative way of understanding decision making.<ref name="neuroeconomics.duke.edu" />
Behavioral economics emerged to account for these anomalies by integrating social, cognitive, and emotional factors in understanding economic decisions. Neuroeconomics adds another layer by using neuroscientific methods in understanding the interplay between economic behavior and neural mechanisms. By using tools from various fields, some scholars claim that neuroeconomics offers a more integrative way of understanding decision making.
行为经济学在理解经济决策时综合了社会、认知和情感因素，从而解释了这些异常现象。神经经济学通过使用神经科学的方法增加了另一层，以理解经济行为和神经机制之间的相互作用。通过使用来自不同领域的工具，一些学者声称，神经经济学提供了一种更加综合的方式来理解决策。
== Notable people ==
=== Economics ===
{{div col|colwidth=20em}}
* [[George Akerlof]]
* [[Werner De Bondt]]
* [[Paul De Grauwe]]<ref>{{Cite web|url=https://voxeu.org/article/behavioural-economics-also-useful-macroeconomics|title=Behavioural economics is also useful in macroeconomics|first1=Paul De|last1=Grauwe|first2=Yuemei|last2=Ji|date=November 1, 2017}}</ref>
* [[Linda C. Babcock]]
* [[Douglas Bernheim]]<ref>{{cite web |ref=harv |last1=Bernheim| first1=Douglas |last2=Rangel |first2=Antonio |year=2008 |title=Behavioural public economics |url=http://www.dictionaryofeconomics.com/article?id=pde2008_B000331&q=public%20&topicid=&result_number=3 |issue=2}} in {{harvnb|Palgrave|ref=Palgrave}}</ref>
* [[Colin Camerer]]
* [[Armin Falk]]
* [[Urs Fischbacher]]
*[[Tshilidzi Marwala]]
*[[Susan E. Mayer]]
* [[Ernst Fehr]]
* [[Simon Gächter]]
* [[Uri Gneezy]]<ref>{{cite web|url=http://rady.ucsd.edu/faculty/directory/gneezy/|title=Uri Gneezy|work=ucsd.edu}}</ref>
* [[David Laibson]]
* [[Louis Lévy-Garboua]]
* [[John A. List]]
* [[George Loewenstein]]
* [[Sendhil Mullainathan]]
* [[John Quiggin]]
* [[Matthew Rabin]]
* [[Reinhard Selten]]
* [[Herbert A. Simon]]
* [[Vernon L. Smith]]
* [[Robert Sugden (economist)|Robert Sugden]]<ref>{{cite web|url =https://www.uea.ac.uk/economics/people/profile/r-sugden |title=Robert Sugden}}</ref>
* [[Larry Summers]]
* [[Richard Thaler]]
{{div col end}}
=== Finance ===
{{div col|colwidth=20em}}
* [[Malcolm Baker]]
* [[Nicholas Barberis]]
* [[Gunduz Caginalp]]
* [[David Hirshleifer]]
* [[Andrew Lo]]
* [[Michael Mauboussin]]
* [[Terrance Odean]]
* [[Richard L. Peterson]]
* [[Charles Plott]]
* [[Robert Prechter]]
* [[Hersh Shefrin]]
* [[Robert Shiller]]
* [[Andrei Shleifer]]
* [[Robert Vishny]]
{{div col end}}
=== Psychology ===
{{div col|colwidth=20em}}
* [[George Ainslie (psychologist)|George Ainslie]]
* [[Dan Ariely]]<ref>{{cite web|title=Predictably Irrational|publisher=Dan Ariely|url=http://www.predictablyirrational.com/?page_id=5|accessdate=2008-04-25|archiveurl=https://web.archive.org/web/20080313201653/http://www.predictablyirrational.com/?page_id=5|archivedate=2008-03-13|url-status=dead}}</ref>
* [[Ed Diener]]
* [[Ward Edwards]]
* [[Laszlo Garai]]
* [[Gerd Gigerenzer]]
* [[Daniel Kahneman]]
* [[Ariel Kalil]]
* [[George Katona]]
* [[Walter Mischel]]
* [[Drazen Prelec]]
* [[Eldar Shafir]]
* [[Paul Slovic]]
* [[John Staddon]]<ref>{{cite book|last=Staddon|first= John|date =2017|title= Scientific Method: How science works, fails to work or pretends to work |publisher = Routledge|chapter= 6: Behavioral Economics|chapter-url =https://books.google.com/books?id=TCBBDwAAQBAJ&lpg=PP1&pg=PT103}}</ref>
* [[Amos Tversky]]
{{div col end}}
== See also ==
{{Wikipedia books|Finance}}
{{div col|colwidth=30em}}
* [[Adaptive market hypothesis]]
* [[Animal Spirits (Keynes)]]
* [[Behavioralism]]
* [[Behavioral analysis of markets]]
* [[Behavioral operations research]]
*[[Big Five personality traits]]
* [[Confirmation bias]]
* [[Cultural economics]]
* [[Culture change]]
* [[Economic sociology]]
* [[Emotional bias]]
* [[Fuzzy-trace theory]]
* [[Hindsight bias]]
* ''[[Homo reciprocans]]''
* [[List of important publications in economics#Behavioral economics|Important publications in behavioral economics]]
* [[List of cognitive biases]]
* [[Market sentiment]]
* [[Methodological individualism]]
* [[Nudge theory]]
* [[Observational techniques]]
* [[Praxeology]]
* [[Priority heuristic]]
* [[Regret (decision theory)|Regret theory]]
* [[Repugnancy costs]]
* [[Socioeconomics]]
* [[Socionomics]]
{{div col end}}
== Citations ==
{{reflist|30em}}
== References ==
* {{cite journal|doi=10.1037/h0076860|last=Ainslie|first=G.|year=1975|title=Specious Reward: A Behavioral /Theory of Impulsiveness and Impulse Control|journal=Psychological Bulletin|volume=82|issue=4|pages=463–96|pmid=1099599|ref=none|url=https://semanticscholar.org/paper/8cf0dba265275d8233b2d78c543269fedd6ff833}}
* {{cite journal|last1=Barberis|first1=N.|authorlink=Nicholas Barberis|authorlink2=Andrei Shleifer|last2=Shleifer|first2=A.|last3=Vishny|first3=R.|year=1998|title=A Model of Investor Sentiment|journal=Journal of Financial Economics|volume=49|issue=3|pages=307–43|doi=10.1016/S0304-405X(98)00027-0|url=http://jfe.rochester.edu/|accessdate=2008-04-25|ref=none|archiveurl=https://web.archive.org/web/20080420095719/http://jfe.rochester.edu/|archivedate=20 April 2008 |url-status=live}}
* {{cite journal|doi=10.1086/259394|last1=Becker |first1=Gary S.|authorlink1=Gary Becker|year=1968|title=Crime and Punishment: An Economic Approach| journal=The Journal of Political Economy|volume=76|issue=2| pages=169–217|url=http://www.nber.org/chapters/c3625.pdf }}
* {{cite journal|last1=Benartzi|first1=Shlomo|authorlink2=Richard Thaler|last2=Thaler|first2=Richard H.|year=1995|title=Myopic Loss Aversion and the Equity Premium Puzzle|journal=The Quarterly Journal of Economics|volume=110|issue=1|pages=73–92|doi=10.2307/2118511|ref=harv|jstor=2118511|url=http://www.nber.org/papers/w4369.pdf}}
* {{cite journal|last=Cunningham|first=Lawrence A.|year=2002|title=Behavioral Finance and Investor Governance|journal=Washington & Lee Law Review|volume=59|page=767|issn=1942-6658|doi=10.2139/ssrn.255778}}
* {{cite journal|last=Daniel|first=K.|authorlink2=David Hirshleifer|last2=Hirshleifer|first2=D.|last3=Subrahmanyam|first3=A.|year=1998|title=Investor Psychology and Security Market Under- and Overreactions|journal=Journal of Finance|volume=53|issue=6|pages=1839–85|doi=10.1111/0022-1082.00077|ref=none|url=https://deepblue.lib.umich.edu/bitstream/2027.42/73431/1/0022-1082.00077.pdf|hdl=2027.42/73431}}
* {{cite book|first1=Peter |last1=Diamond |author-link1=Peter A. Diamond|first2=Hannu |last2=Vartiainen|title=Behavioral Economics and Its Applications|url={{google books |plainurl=y |id=1-SVhlC9mVoC}}|year= 2012|publisher=Princeton University Press|isbn=978-1-4008-2914-9}}
* {{cite book|editor-first1=John |editor-last1=Eatwell|editor-first2=Murray |editor-last2=Milgate|editor-first3=Peter |editor-last3=Newman|title=The New Palgrave: A Dictionary of Economics|url={{google books |plainurl=y |id=9I2voAEACAAJ}}|year=1988|publisher=Macmillan|isbn=978-0-935859-10-2 |ref=Palgrave}}
** {{cite encyclopedia |last=Augier |first=Mie |url=http://www.dictionaryofeconomics.com/article?id=pde2008_S000455&q=behavioural&topicid=&result_number=8 |title=Simon, Herbert A. (1916–2001)}}
** {{cite encyclopedia|last1=Bernheim|first1=B. Douglas|first2=Antonio|last2=Rangel |url=http://www.dictionaryofeconomics.com/article?id=pde2008_B000331&q=public%20&topicid=&result_number=3 |title=Behavioral public economics}}
** {{cite encyclopedia|last1=Bloomfield|first1=Robert |url=http://www.dictionaryofeconomics.com/article?id=pde2008_B000339&q=Behavioral%20economics%20&topicid=&result_number=5 |title=Behavioral finance}}
** {{cite encyclopedia|last=Simon|first=Herbert A |url=http://www.dictionaryofeconomics.com/article?id=pde2008_B000176&q=behavioural%20economics&topicid=&result_number=4 |title=Rationality, bounded}}
* {{cite journal |title=Loss Aversion and Seller Behavior: Evidence from the Housing Market |first1=David |last1=Genesove |first2=Christopher |last2=Mayer |date=March 2001 |journal=Quarterly Journal of Economics |volume=116 |issue=4 |pages=1233–1260 |doi=10.1162/003355301753265561 |ref=none|url=http://www.nber.org/papers/w8143.pdf }}
* {{cite encyclopedia|first1=S.|last1=Mullainathan|authorlink1=Sendhil Mullainathan|authorlink2=Richard Thaler|last2=Thaler|first2=R. H.|year=2001|chapter=Behavioral Economics|encyclopedia=[[International Encyclopedia of the Social & Behavioral Sciences]]|pages=1094–1100 |doi=10.1016/B0-08-043076-7/02247-6 |isbn=9780080430768}}
* {{Cite book |title=Reconsidering Identity Economics|last=Garai|first=Laszlo|authorlink=Garai Laszlo|date=2016-12-01|publisher=Palgrave Macmillan US|isbn=9781137525604|location=New York|pages=35–40|language=en|doi=10.1057/978-1-137-52561-1_3|chapter=Identity Economics: "An Alternative Economic Psychology"}}
* {{Cite web |ssrn=2435111 |url=http://papers.ssrn.com|access-date=2018-06-02|first=E. |last=McGaughey|title=Behavioural Economics and Labour Law|year=2014|number=LSE Legal Studies Working Paper No. 20/2014}}
* {{cite book|title=Behavioural Finance for Private Banking|last=Hens|first=Thorsten|author2=Bachmann, Kremena|year=2008|publisher=Wiley Finance Series|isbn=978-0-470-77999-6|url=http://www.bfpb.ch}}
* {{cite book|title=Rational Choice: The Contrast between Economics and Psychology|last=Hogarth|first=R. M.|last2=Reder|first2=M. W.|year=1987|publisher=University of Chicago Press|location=Chicago|isbn=978-0-226-34857-5|ref=harv|url-access=registration|url=https://archive.org/details/rationalchoice}}
* {{cite journal|last1=Kahneman|first1=Daniel|authorlink1=Daniel Kahneman|authorlink2=Amos Tversky|last2=Tversky|first2=Amos|year=1979|title=Prospect Theory: An Analysis of Decision under Risk|journal=Econometrica|volume=47|issue=2|pages=263–91|doi=10.2307/1914185|jstor=1914185|ref=none|citeseerx=10.1.1.407.1910}}
* {{cite book |last=Kahneman|first=Daniel|first2=Ed |last2=Diener|year=2003|title=Well-being: the foundations of hedonic psychology|publisher=[[Russell Sage Foundation]]|authorlink=Daniel Kahneman|ref=harv}}
* {{cite book|title=Technical Analysis: The Complete Resource for Financial Market Technicians|last1=Kirkpatrick|first1=Charles D.|last2=Dahlquist|first2=Julie R.|year=2007|publisher=Financial Times Press|location=Upper Saddle River, NJ|isbn=978-0-13-153113-0|ref=harv}}
* {{cite book|url={{google books |plainurl=y |id=HlKBaiCpSxYC|age=7}}|title=Private Truths, Public Lies: The Social Consequences of Preference Falsification|last=Kuran|first=Timur|authorlink=Timur Kuran|publisher=Harvard University Press|year=1997|isbn=978-0-674-70758-0|pages=7–}} [http://www.hup.harvard.edu/catalog.php?isbn=9780674707580 Description]
* {{cite book|last=Luce|first=R Duncan|title=Utility of Gains and Losses: Measurement-theoretical and Experimental Approaches|publisher=Lawrence Erlbaum Publishers|year=2000|location=Mahwah, New Jersey|authorlink=R. Duncan Luce|isbn=978-0-8058-3460-4|ref=harv}}
* {{cite book |first1=Charles R. |last1=Plott |authorlink1=Charles R. Plott |first2=Vernon L. |last2=Smith |editor-link2=Vernon L. Smith |year=2008 |title=Handbook of Experimental Economics Results |volume= 1 |publisher=Elsevier |url={{google books |plainurl=y |id=wAK_aKs3EPoC}} |ref=none}} Chapter-preview [http://www.sciencedirect.com/science?_ob=PublicationURL&_hubEid=1-s2.0-S1574072207X00015&_cid=277334&_pubType=HS&_auth=y&_acct=C000228598&_version=1&_urlVersion=0&_userid=10&md5=49f8b6d5e3024eac39ed5fad351fe568 links].
* {{cite journal|last=Rabin |first=Matthew |authorlink=Matthew Rabin |year=1998 |title=Psychology and Economics |journal=Journal of Economic Literature |volume=36 |issue=1 |pages=11–46 |url=http://pages.towson.edu/jpomy/behavioralecon/PsychologyandEconomicsRabin98JEL.pdf |ref=harv |url-status=dead|archiveurl=https://web.archive.org/web/20110927133547/http://pages.towson.edu/jpomy/behavioralecon/PsychologyandEconomicsRabin98JEL.pdf |archivedate=September 27, 2011 }}
* {{cite journal|last=Shefrin |first=Hersh|url=http://forecastingprinciples.com/files/pdf/Shefrin%202002.pdf |title= Behavioral decision making, forecasting, game theory, and role-play |journal=International Journal of Forecasting |volume=18 |issue=3|pages=375–382|year=2002 |ref=harv|doi=10.1016/S0169-2070(02)00021-3}}
* {{cite book|first1=Thomas C. |last1=Schelling |author-link1=Thomas C. Schelling|title=Micromotives and Macrobehavior|url={{google books |plainurl=y |id=DenWKRgqzWMC}}|year= 2006|publisher=W. W. Norton|isbn=978-0-393-06977-8}} [https://web.archive.org/web/20171102093240/http://books.wwnorton.com/books/978-0-393-32946-9/ Description]
* {{cite book|title=Inefficient Markets: An Introduction to Behavioral Finance|last=Shleifer|first=Andrei|authorlink=Andrei Shleifer|year=1999|publisher=Oxford University Press|location=New York|isbn=978-0-19-829228-9|url=https://archive.org/details/inefficientmarke00andr}}
* {{cite encyclopedia|authorlink=Herbert A. Simon|last=Simon|first=Herbert A.|year=1987|title=Behavioral Economics|encyclopedia=[[The New Palgrave: A Dictionary of Economics]]|volume=1|pages=221–24}}
* {{cite journal | last1 = Thaler | first1 = Richard H | year = 2016 | title = Behavioral Economics: Past, Present, and Future | url = https://www.aeaweb.org/articles?id=10.1257/aer.106.7.1577 | journal = American Economic Review | volume = 106 | issue = 7| pages = 1577–1600 | doi = 10.1257/aer.106.7.1577 }}
*{{cite encyclopedia |last1=Thaler |first1=Richard H. |authorlink1= Richard Thaler |last2=Mullainathan |first2=Sendhil |editor= [[David R. Henderson]] |encyclopedia=[[Concise Encyclopedia of Economics]] |title=Behavioral Economics |url=http://www.econlib.org/library/Enc/BehavioralEconomics.html |year=2008 |edition= 2nd |publisher=[[Library of Economics and Liberty]] |location=Indianapolis |isbn=978-0-86597-665-8 |oclc=237794267}}
* {{cite encyclopedia |last1=Wheeler |first1=Gregory |authorlink1= Gregory Wheeler | editor= [[Edward Zalta]] |encyclopedia=[[Stanford Encyclopedia of Philosophy]] | title=Bounded Rationality |url=https://plato.stanford.edu/entries/bounded-rationality |year=2018 |location= Stanford, CA}}
*{{cite web|url=http://leconcurrentialiste.com/2014/04/23/behavioral-economics-in-u-s-antitrust-scholarly-papers/|title=Behavioral economics in U.S. (antitrust) scholarly papers|work=Le Concurrentialiste}}
== External links ==<!-- This section is linked from [[Behavioral finance]] -->
== External links ==<!-- This section is linked from Behavioral finance -->
外部链接! -- 这一部分链接来自行为金融学 --
{{wikiquote}}
* [http://www.behavioraleconomics.com/ The Behavioral Economics Guide]
* [http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1488110 Overview of Behavioral Finance]
* [http://www.dremanbehavioralfinance.org/ The Institute of Behavioral Finance]
* [http://economicspsychologypolicy.blogspot.co.uk/ Stirling Behavioural Science Blog], of the Stirling Behavioural Science Centre at [[University of Stirling]]
* [https://web.archive.org/web/20120110110918/http://www.sabeonline.org/ Society for the Advancement of Behavioural Economics]
* [http://www.usapr.org/papers/paper.aspx?PaperID=30 Behavioral Economics: Past, Present, Future] – Colin F. Camerer and George Loewenstein
* [http://www.moneyscience.com/pg/blog/Admin/read/50567/a-history-of-behavioural-finance-in-published-research-1944-1988 A History of Behavioural Finance / Economics in Published Research: 1944–1988]
* [https://web.archive.org/web/20151017010637/http://www.essex.ac.uk/coursefinder/course_details.aspx?course=MSC+L11912 MSc Behavioural Economics], MSc in Behavioural Economics at the University of Essex
* [http://www.okanduru.com/becon.htm Behavioral Economics of Shipping Business]
{{Microeconomics}}
{{Instecon}}
{{Schools of economic thought}}
{{Authority control}}
[[Category:Behavioral economics| ]]
[[Category:Behavioral finance]]
Category:Behavioral finance
分类: 行为金融学
[[Category:Financial economics]]
Category:Financial economics
类别: 金融经济学
[[Category:Market trends]]
Category:Market trends
类别: 市场趋势
[[Category:Microeconomics]]
Category:Microeconomics
类别: 微观经济学
[[Category:Prospect theory]]
Category:Prospect theory
范畴: 展望理论
<noinclude>
<small>This page was moved from [[wikipedia:en:Behavioral economics]]. Its edit history can be viewed at [[行为经济学/edithistory]]</small></noinclude>
[[Category:待整理页面]]