Why smart people make big money mistakes--and how to correct them : lessons from the new science of behavioral economics
- 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.
- Belsky, Gary.
- New York : Simon & Schuster, 2000.
Items in the Library & Off-site
|Status||Format||Access||Call Number||Item Location|
|Text||Request in advance||HG179 .B375 2000||Off-site|
- Additional Authors
- Gilovich, Thomas.
- 220 pages; 25 cm
- "Gary Belsky and Thomas Gilovich reveal why people spend, invest, save, borrow, and, most important, waste money. They provide fascinating insights into all manner of occurrencestipping, gambling, plane crashes, lotteries, and game shows, to name just a few - to explain behavioral economics in a way that is as entertaining as it is informative. Best of all, they offer dozens of useful tips that will help us overcome the blind spots that cloud our financial judgment and will allow us to enjoy greater financial freedom."--BOOK JACKET.
- Alternative Title
- Why smart people make big money mistakes & how to correct them
- Originally published: New York, NY : Simon & Schuster, c1999.
- "A Fireside book."
- 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.
- 0684859386 (pbk.)
- 9780684859385 (pbk.)
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