A Critical Review on the Book Fundamentals of Behavioral Economics and Finance

Hajimoladarvish, Narges

doi:10.30465/crtls.2020.30502.1816

Document Type : Research

Author

Narges Hajimoladarvish

Assistant professor, Faculty of Social Sciences and Economics, Alzahra University, Tehran, Iran,

https://doi.org/10.30465/crtls.2020.30502.1816

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 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.

Keywords

Main Subjects

Economy

References

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Pizhuhish nāmah-i intiqādī-i mutūn va barnāmah hā-yi ̒ulūm-i insāni (Critical Studies in Texts & Programs of Human Sciences)

A Critical Review on the Book Fundamentals of Behavioral Economics and Finance

References

References

Volume 21, Issue 4 - Serial Number 92
July 2021
Pages 43-61

A Critical Review on the Book Fundamentals of Behavioral Economics and Finance

References

References

Volume 21, Issue 4 - Serial Number 92July 2021Pages 43-61

Volume 21, Issue 4 - Serial Number 92
July 2021
Pages 43-61