Research Catalog

Why smart people make big money mistakes--and how to correct them : lessons from the new science of behavioral economics / Gary Belsky and Thomas Gilovich.

Title
Why smart people make big money mistakes--and how to correct them : lessons from the new science of behavioral economics / Gary Belsky and Thomas Gilovich.
Author
Belsky, Gary.
Publication
New York, NY : Simon & Schuster, [1999], ©1999.

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TextRequest in advanceRequestHG179 .B375 1999Offsite

Details

Additional Authors
Gilovich, Thomas.
Description
220 pages; 25 cm
Subjects
Contents
  • Why Smart People Make Big Money Mistakes: An introduction to the new science of behavioral economics. Ch. 1. Not all Dollars are Created Equal: How "mental accounting" can help you save or cost you money. Ch. 2. When Six of One isn't Half a Dozen of the other: How "loss aversion" and the "sunk cost fallacy" lead you to throw good money after bad. Ch. 3. The Devil that you Know: How the "status quo bias" and the "endowment effect" make financial choices difficult. Ch. 4. Number Numbness: "Money illusion," "bigness bias," and other ways that ignorance about math and probabilities can hurt you. Ch. 5. Anchors Aweigh: Why "anchoring" and "confirmation bias" lead you to make important money decisions based on unimportant information. Ch. 6. The Ego Trap: "Overconfidence" and the price of thinking that you know more than you do. Ch. 7. I Herd it through the Grapevine: "Information cascades" and the danger of relying too much on the financial moves of others.
  • Conclusion: Now what?: Principles to ponder and steps to take -- Postscript: Psychic Income.
ISBN
0684844931
LCCN
98031145
Owning Institutions
Columbia University Libraries