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"This book collects important contributions in behavioral economics and related topics, mainly by Japanese researchers, to provide new perspectives for the future development of economics and behavioral economics. The volume focuses especially on economic studies that examine interactions of multiple agents and/or market phenomena by using behavioral economics models. Reflecting the diverse fields of the editors, the book captures broad influences of behavioral economics on various topics in economics. Those subjects include parental altruism, economic growth and development, the relative and permanent income hypotheses, wealth distribution, asset price bubbles, auctions, search, contracts, personnel management and market efficiency and anomalies in financial markets. The chapter authors have added newly written addenda to the original articles in which they address their own subsequent works, supplementary analyses, detailed information on the underlying data and/or recent literature surveys. This will help readers to further understand recent developments in behavioral economics and related research"--Back cover

Cover -- Title -- Copyright -- Dedication -- CONTENTS -- LIST OF CONTRIBUTORS -- PREFACE -- ACKNOWLEDGMENTS -- PART ONE: INTRODUCTION -- CHAPTER ONE: Behavioral Economics: Past, Present, Future -- PART TWO: BASIC TOPICS -- REFERENCE-DEPENDENCE AND LOSS-AVERSION -- CHAPTER TWO: Experimental Tests of the Endowment Effect and the Coase Theorem -- CHAPTER THREE: Mental Accounting Matters -- PREFERENCES OVER RISKY AND UNCERTAIN OUTCOMES -- CHAPTER FOUR: Developments in Nonexpected-Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk -- CHAPTER FIVE: Prospect Theory in the Wild: Evidence from the Field -- INTERTEMPORAL CHOICE -- CHAPTER SIX: Time Discounting and Time Preference: A Critical Review -- CHAPTER SEVEN: Doing It Now or Later -- FAIRNESS AND SOCIAL PREFERENCES -- CHAPTER EIGHT: Fairness as a Constraint on Profit Seeking: Entitlements in the Market -- CHAPTER NINE: A Theory of Fairness, Competition, and Cooperation -- CHAPTER TEN: Incorporating Fairness into Game Theory and Economics -- CHAPTER ELEVEN: Explaining Bargaining Impasse: The Role of Self-Serving Biases -- GAME THEORY -- CHAPTER TWELVE Theory and Experiment in the Analysis of Strategic Interaction -- CHAPTER THIRTEEN: Behavioral Game Theory: Predicting Human Behavior in Strategic Situations -- PART THREE: APPLICATIONS -- MACROECONOMICS AND SAVINGS -- CHAPTER FOURTEEN: Mental Accounting, Saving, and Self-Control -- CHAPTER FIFTEEN: Golden Eggs and Hyperbolic Discounting David Laibson -- CHAPTER SIXTEEN: The Fair Wage-Effort Hypothesis and Unemployment -- CHAPTER SEVENTEEN: Money Illusion -- LABOR ECONOMICS -- CHAPTER EIGHTEEN: Fairness and Retaliation: The Economics of Reciprocity -- CHAPTER NINETEEN: Labor Supply of New York City Cab Drivers: One Day at a Time -- CHAPTER TWENTY: Wages, Seniority, and the Demand for Rising Consumption Profiles

AbstractHow can we stimulate policymakers to make strategic decisions that enhance public service performance? Traditional strategy theories have not enabled us to answer this question. These theories focus on strategy processes or content in public organizations and networks and directly link these to public service performance. This article defines and elaborates on a conceptual framework that uses theory from behavioral science to unravel how policymakers can make strategic decisions that actually enhance the performance of public organizations and networks. This conceptual framework is labeled 'behavioral public strategy' and conceptualizes public strategy as a social process shaped by the individuals, teams and tools underlying it. Behavioral public strategy thus focuses on the micro-foundations of public strategy and how these micro-foundations influence strategic decisions. Moreover, behavioral public strategy links meso- and micro-levels by proposing a bathtub model where the relationship between public strategy and public service performance at the organizational and network levels is explained by the relationship between the micro-foundations of public strategy and the ensuing strategic decisions at the individual and team levels. This article connects three research streams that have been like 'ships that pass in the night', namely public strategy, behavioral public policy and behavioral public administration.

Abstract
This paper explores the potential for gains from trade between Austrian and behavioral economics, with a focus on how the two schools of thoughts can constructively critique each other. Among other things, the Austrian critique of behavioral economics would urge it to jettison its restrictive and axiomatic definition of rationality, and to treat humans as active agents rather than passive recipients of environmental and cognitive influences. Meanwhile, the behavioral critique of Austrian economics would push it to take more seriously the fundamental question of how individuals arrive at choices and to analyze how such choices can interact with 'micro-institutional' choice environments.