CHAPTER FIVE. Prospect Theory in the Wild: Evidence from the Field

Chapters in this book

1. Frontmatter i
2. CONTENTS vii
3. LIST OF CONTRIBUTORS xi
4. PREFACE xxi
5. ACKNOWLEDGMENTS xxv
6. PART I: Introduction
7. CHAPTER ONE. Behavioral Economics: Past, Present, Future 3
8. PART II: Basic Topics
9. REFERENCE-DEPENDENCE AND LOSS-AVERSION
10. CHAPTER TWO. Experimental Tests of the Endowment Effect and the Coase Theorem 55
11. CHAPTER THREE. Mental Accounting Matters 75
12. PREFERENCES OVER RISKY AND UNCERTAIN OUTCOMES
13. CHAPTER FOUR. Developments in Nonexpected-Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk 104
14. CHAPTER FIVE. Prospect Theory in the Wild: Evidence from the Field 148
15. INTERTEMPORAL CHOICE
16. CHAPTER SIX. Time Discounting and Time Preference: A Critical Review 162
17. CHAPTER SEVEN. Doing It Now or Later 223
18. FAIRNESS AND SOCIAL PREFERENCES
19. CHAPTER EIGHT. Fairness as a Constraint on Profit Seeking: Entitlements in the Market 252
20. CHAPTER NINE. A Theory of Fairness, Competition, and Cooperation 271
21. CHAPTER TEN. Incorporating Fairness into Game Theory and Economics 297
22. CHAPTER ELEVEN. Explaining Bargaining Impasse: The Role of Self-Serving Biases 326
23. GAME THEORY
24. CHAPTER TWELVE. Theory and Experiment in the Analysis of Strategic Interaction 344
25. CHAPTER THIRTEEN. Behavioral Game Theory: Predicting Human Behavior in Strategic Situations 374
26. PART III: Applications
27. MACROECONOMICS AND SAVINGS
28. CHAPTER FOURTEEN. Mental Accounting, Saving, and Self-Control 395
29. CHAPTER FIFTEEN. Golden Eggs and Hyperbolic Discounting 429
30. CHAPTER SIXTEEN. The Fair Wage-Effort Hypothesis and Unemployment 458
31. CHAPTER SEVENTEEN. Money Illusion 483
32. LABOR ECONOMICS
33. CHAPTER EIGHTEEN. Fairness and Retaliation: The Economics of Reciprocity 510
34. CHAPTER NINETEEN. Labor Supply of New York City Cab Drivers: One Day at a Time 533
35. CHAPTER TWENTY. Wages, Seniority, and the Demand for Rising Consumption Profiles 548
36. CHAPTER TWENTY-ONE. Incentives, Punishment, and Behavior 572
37. FINANCE
38. CHAPTER TWENTY-TWO. Myopic Loss-Aversion and the Equity Premium Puzzle 590
39. CHAPTER TWENTY-THREE. Do Investors Trade Too Much? 606
40. CHAPTER TWENTY-FOUR. Loss-Aversion and Seller Behavior: Evidence from the Housing Market 633
41. PART FOUR: NEW FOUNDATIONS
42. CHAPTER TWENTY-FIVE. Case-Based Decision Theory 659
43. CHAPTER TWENTY-SIX. Out of Control: Visceral Influences on Behavior 689
44. INDEX 725