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Focusing illusion describes how, when making choices, people may put disproportionate attention on certain attributes of the options and hence, causing those options to be overvalued. For instance, in deciding whether or not to take out a loan, people may focus more on getting the loan than on...
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"Economic Psychology is the only up-to-date, English-language textbook that provides a comprehensive overview of … theoretical topics in economic psychology and their relevance in applied fields. Written by two leading psychologists, the book … undergraduate and postgraduate courses on economic psychology, behavioural economics and social psychology." …
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It is understandable in times of financial crisis that the general public asks how this could happen. And since the market actors appear so irrational, it is also understandable that people – lay people and experts alike – believe that “psychological” factors play a decisive role. Is...
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This book features the main papers of Günter Schmölders (1903-1991), a pioneer in economic psychology, for the first … time in English. Schmölders' research on 'fiscal psychology' is of particular and lasting interest, impacting greatly on …
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