Behavioral economics, as a practical economics, organically combines behavioral analysis theory with economic operation law, psychology with economic science, so as to find out the mistakes or omissions in the current economic model, and then correct the defects of the basic assumptions of mainstream economics about human rationality, self-interest, complete information, utility maximization, and consistent preferences. In a narrow sense, behavioral economics is the product of the combination of psychology and economic analysis. Broadly speaking, behavioral economics introduces five elements into the framework of economic analysis: (1) "cognitive disharmony-C-D gap"; (2) "Identity-social status"; (3) "personality-emotion set"; (4) "personality-preference evolution"; (5) Situational rationality and local knowledge. Traditional western economics is based on the hypothesis of "rational man". "A broker who can calculate, be creative and pursue the best interests is the basis of all economic analysis" (Karl brunet), from which traditional western economics began to study the rational laws of microeconomic subjects, indicating that the rational man hypothesis is the cornerstone of traditional western economic theory. Since 1980s, because the traditional economic theory has been stuck in the bottleneck in the theoretical derivation process, and the explanation and guidance to the real economic life are weak, a group of economists headed by richard taylor began to question the hypothesis of "rational man" as the fundamental argument of the traditional theory. They tried to introduce the research methods and achievements of psychology, sociology and other disciplines into economic research, and put forward that irrational economic subjects should be the object of micro-research, thus creating a precedent for studying irrational laws of micro-economic subjects, and behavioral economics was born. Subsequently, a large number of scholars showed great enthusiasm and confidence in this brand-new field and actively participated in its research. It is generally believed that behavioral economics was formally founded in 1994, and the late famous psychologist amos tversky, economist Daniel Kahneman, Richard H. Taylor, matthew rabin and Chinese-American professor Kaiyuan Hsee were the pioneers of this discipline. Behavioral economists Daniel Kahneman and V. Smith won the 2002 Nobel Prize in Economics for their outstanding research in behavioral economic theory and experimental economics, which strongly proved their existence value, academic status and broad research prospects. To sum up, behavioral economics, as a brand-new discipline in the field of economics, has opened up new research fields and directions through the fundamental innovation of traditional economic theoretical assumptions, and truly realized the study of "people" in economics. Its research field is closely related to the operation of economy and society and the realistic choice of microeconomic subjects, and it pays attention to collecting research information from empirical research rather than theoretical deduction. At the same time, it adopts a brand-new research method, introduces the research results of other social sciences into economic research, and realizes the multi-perspective measurement of the decision-making factors of economic subjects. The development of behavioral economics theory makes it realistic and feasible to successfully guide practice with economic theory. Although as a new discipline, the theoretical framework of behavioral economics is not perfect and lacks a complete structure. At present, many theoretical models of behavioral economics only add some assumptions about people's behavior decision-making on the basis of traditional classical models-although this can "make the results of the model more accurate than those of traditional models that emphasize rationality in some occasions", it often makes the model more difficult for people to understand and accept. (Behavioral Economics: Past, Present and Future by Colin F. Camerer and George lowenstein), but its broad research prospects and refreshing research ideas are definitely worth our investment and expectation-book1. The pioneering work of behavioral economics: decision-making under uncertainty: enlightenment and deviation, Carney.

2 New progress in behavioral economics

3. gambler's creed elementary chapter:

1. robert frank's "The Economics of Milk Coke" has been published for the third time. The first film explains some phenomena in daily life in simple terms, which is easy to understand and suitable for beginners to read.

2. Kaiyuan Hsee's "Don't be a Normal Fool", which I have already introduced, Professor Xi vividly describes the related concepts of behavioral economics through some simple examples, such as cognitive bias, transaction utility bias, loss aversion and so on.

3. dan ariely's weird behavior. The Chinese translation of this book has just been published. The author of this book has a different knowledge and understanding of society because of his unfortunate experience when he was young. He likes to explore some unreasonable phenomena in this world, find out the reasons and put forward some suggestions to avoid bad consequences. This book is very exciting. I suggest reading it again and again.

The curse of the winner, the subtitle of this book is the abnormal phenomenon in economics. As its name implies, this book describes some phenomena that violate "common sense" in society, and explains them with relevant theories from the perspective of behavioral economics, such as reciprocity, ultimatum, psychological account and so on.

Improved articles:

Behavioral macroeconomics:

Author of Animal Spirit: akerlof and Shearer: akerlof was the winner of the Nobel Prize in Economics in 0 1 year (because of his contribution to information economics), and has taught many courses in behavioral macroeconomics in many schools. Schiller is well known by many people for his achievements in studying irrational finance. They have long wanted to compile a textbook on behavioral macroeconomics, and now it has finally come true. Keynes once attached great importance to the role of psychology in general theory. Chapter 12 "Long-term expected state" is also called the classic of behavioral economics. To some extent, it can also be considered as a micro-foundation for macroeconomics from the perspective of behavioral economics.

Akerlof's lecture notes on behavioral macroeconomics can be downloaded from the Internet. Akerlof's thoughts can be reflected in these lectures.

Behavioral game theory:

Colin Cameron's behavior game: Colin Cameron is a genius, and he got his doctorate at a young age. However, the articles published in top journals were not frequent at first, but accelerated after 1990s. From his track, we can roughly find the development course of behavioral economics.

Behavioral institutional economics:

Allen Schmidt's "Institutional and Behavioral Economics", personally, feels that the logic of this book is not very rigorous, which seems to be related to this person's becoming a monk halfway. I thought I was studying Marxist economics. But it's not bad as an understanding.

Happiness economics:

Kaiyuan Hsee's Shake Happiness: Needless to say, anyone who knows Kaiyuan Hsee should know that Kaiyuan Hsee is one of the pioneers of happiness economics and has made great achievements in this respect. He is one of the two leading figures in China in the field of behavioral economics. The other is Huang Ming in the field of behavioral finance.

Santa Fe School:

In fact, the research of Santa Fe School itself can be classified into the field of behavioral evolutionary economics, but the research of this school is a bit special, so it is listed separately.

1. Microeconomics: Behavior, Institution and Evolution Author: Bowles: The English version of this book was completed in 2005. Bowles comprehensively applied various theories of behavioral economics and analyzed them from various micro angles. Of course, the idea of "behavioral evolution" was indispensable.

2. "Towards a Unified Social Science" and "Human Socialization and Its Research": These two books are the collected works of Santa Fe School translated by the Interdisciplinary Research Center of Zhejiang University at the beginning of this century, in which you can find the classic literature on reciprocity and cooperation by Bowles and Quintis. For more information, I suggest reading the original English version.

3. Moral sentiments and material interests: This book is co-authored by three economists (Bowles, Quintis, and Phil) and an evolutionary biologist (Boyd). In this book, four masters vividly described the basis of human cooperation by means of economics and biology. There is no Chinese version of this book at present, only English version.

Experimental economics:

1. Vernon Smith's Economic Rationality: Smith was the winner of the 2002 Nobel Prize in Economics, and his main achievements focused on experimental economics. He believes that economics should consider both ecological rationality and constructive rationality. He also believes in Scottish philosophy and feels that he has inherited Hayek's tradition, considering both the expansion order of the market-anonymous transactions guided by invisible hands, and personalized transactions-transactions guided by "social norms", such as transactions in the Maghreb in the Middle Ages.

2. The Economics Laboratory by Daniel Friedman is also a good book, which can make people shine at the moment and is recommended for reading.

In addition, if you want to further study behavioral economics, I recommend reading Handbook of Contemporary Behavioral Economics and Behavioral Economics and Its Application.