Economy
Narges Hajimoladarvish
Abstract
The Fundamentals of behavioral economics and finance by Ali Saidi and Seyed Mohamad Javad Farhanian was first published in 2012 and the second edition was out in 2015. While the book covers a wide variety of subjects in behavioral economics and finance, it fails to logically connect the materials together ...
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The Fundamentals of behavioral economics and finance by Ali Saidi and Seyed Mohamad Javad Farhanian was first published in 2012 and the second edition was out in 2015. While the book covers a wide variety of subjects in behavioral economics and finance, it fails to logically connect the materials together within a broader context. The authors neither provided theoretical foundations nor investigated applied aspects of behavioral economics and finance systematically. Furthermore, a good deal of materials is translated from English. The authors provide a list of behavioral biases followed by prescriptions to fight against them without proofing that increasing information cause behavior change. This is not consistent with an evidence-based approach to behavioral economics and finance. Moreover, the existence of personal and unproven prescriptions in the book is simply unscientific that undermines the credibility of behavioral economics and finance.
Economy
Ali Saeedi
Abstract
Recent years have experienced affluent literature in behavioral economics in Persian scope. The Principles of Behavioral Economics: Individual Decision-Making written by Maryam Haji-MollaDarvish is one of these works which is reviewed and criticized in this paper. The focus on the book is on individual ...
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Recent years have experienced affluent literature in behavioral economics in Persian scope. The Principles of Behavioral Economics: Individual Decision-Making written by Maryam Haji-MollaDarvish is one of these works which is reviewed and criticized in this paper. The focus on the book is on individual decision-making and to this extent, after introducing neoclassic models, the theories of behavioral economics are discussed. However, most parts of the book are devoted to introducing neoclassic models while seems unnecessary. The book lacks any coherent theme or main idea and it is just a collection of discussions in behavioral economics. Having no discussion about behavioral issues of Iranian economics has unleashed the book just as a translation work. In spite of insisting on the complementary role of behavioral economics for neoclassic one and not rejecting it, most behavioral economists declare it as a heterodox school against mainstream neoclassic economics. The book is suitable as an auxiliary resource for microeconomics 1 and behavioral economic course.
Economy
Seyed Hossein Mirjalili
Abstract
Poor Economics analyzes the economic behavior of the poor. It is an application of behavioral economics to the economics of poverty and it seeks to provide an innovative solution to eight issues: hunger, health, schooling, population, risk, loans, savings and entrepreneurship of the poor using randomized ...
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Poor Economics analyzes the economic behavior of the poor. It is an application of behavioral economics to the economics of poverty and it seeks to provide an innovative solution to eight issues: hunger, health, schooling, population, risk, loans, savings and entrepreneurship of the poor using randomized control experiments. Although the book offers a new way to combat poverty, the book's evaluation shows that the limitations of the randomized control trial have not been addressed. Improving the performance of the poor without institutional reform has limited impact. There are no conclusions and suggestions for the eight issues discussed. With the marginal actions that this book suggests to improve the lives of the poor, the problem of poverty of about two billion people in the world cannot be solved. The impact of culture on the motivation and behavior of the poor has not been discussed, though the poor are heavily influenced by cultural beliefs and norms.
