Behavioral Economics

Some JEP articles recommended for classroom use

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Several faculty members referred to the series of 'Anomalies' columns, edited by Richard Thaler, from the late 1980s into the 2000s. Some of these articles are listed below; a full list is available here."

Since 2010

Handel, Benjamin, and Joshua Schwartzstein. 2018. “Frictions or Mental Gaps: What’s Behind the Information We (Don’t) Use and When Do We Care?” Journal of Economic Perspectives 32 (1): 155–78. https://www.aeaweb.org/articles?id=10.1257/jep.32.1.155 

Symposium: Motivated Beliefs (Summer 2016) https://www.aeaweb.org/issues/424

Epley, Nicholas, and Thomas Gilovich. 2016. “The Mechanics of Motivated Reasoning.” Journal of Economic Perspectives 30 (3): 133–40. https://www.aeaweb.org/articles?id=10.1257/jep.30.3.133 

Bénabou, Roland, and Jean Tirole. 2016. “Mindful Economics: The Production, Consumption, and Value of Beliefs.” Journal of Economic Perspectives 30 (3): 141–64. https://www.aeaweb.org/articles?id=10.1257/jep.30.3.141 

Golman, Russell, George Loewenstein, Karl Ove Moene, and Luca Zarri. 2016. “The Preference for Belief Consonance.” Journal of Economic Perspectives 30 (3): 165–88. https://www.aeaweb.org/articles?id=10.1257/jep.30.3.165 

Gino, Francesca, Michael I. Norton, and Roberto A. Weber. 2016. “Motivated Bayesians: Feeling Moral While Acting Egoistically.” Journal of Economic Perspectives 30 (3): 189–212. https://www.aeaweb.org/articles?id=10.1257/jep.30.3.189 

Symposium: Overconfidence (Fall 2015) https://www.aeaweb.org/issues/391 

Malmendier, Ulrike, and Timothy Taylor. 2015. “On the Verges of Overconfidence.” Journal of Economic Perspectives 29 (4): 3–8. https://www.aeaweb.org/articles?id=10.1257/jep.29.4.3 

Grubb, Michael D. 2015. “Overconfident Consumers in the Marketplace.” Journal of Economic Perspectives 29 (4): 9–36. https://www.aeaweb.org/articles?id=10.1257/jep.29.4.9 

Malmendier, Ulrike, and Geoffrey Tate. 2015. “Behavioral CEOs: The Role of Managerial Overconfidence.” Journal of Economic Perspectives 29 (4): 37–60. https://www.aeaweb.org/articles?id=10.1257/jep.29.4.37 

Daniel, Kent, and David Hirshleifer. 2015. “Overconfident Investors, Predictable Returns, and Excessive Trading.” Journal of Economic Perspectives 29 (4): 61–88. https://www.aeaweb.org/articles?id=10.1257/jep.29.4.61 

Astebro, Thomas, Holger Herz, Ramana Nanda, and Roberto A. Weber. 2014. “Seeking the Roots of Entrepreneurship: Insights from Behavioral Economics.” Journal of Economic Perspectives 28 (3): 49–70. https://www.aeaweb.org/articles?id=10.1257/jep.28.3.49 

Barberis, Nicholas C. 2013. “Thirty Years of Prospect Theory in Economics: A Review and Assessment.” Journal of Economic Perspectives 27 (1): 173–96. https://www.aeaweb.org/articles?id=10.1257/jep.27.1.173 

Fehr, Ernst, and Antonio Rangel. 2011. “Neuroeconomic Foundations of Economic Choice—Recent Advances.” Journal of Economic Perspectives 25 (4): 3–30. https://www.aeaweb.org/articles?id=10.1257/jep.25.4.3 

Gneezy, Uri, Stephan Meier, and Pedro Rey-Biel. 2011. “When and Why Incentives (Don’t) Work to Modify Behavior.” Journal of Economic Perspectives 25 (4): 191–210. https://www.aeaweb.org/articles?id=10.1257/jep.25.4.191 

2000–2009

Kahneman, Daniel, and Alan B. Krueger. 2006. “Developments in the Measurement of Subjective Well-Being.” Journal of Economic Perspectives 20 (1): 3–24. https://www.aeaweb.org/articles?id=10.1257/089533006776526030 

Ashraf, Nava, Colin F. Camerer, and George Loewenstein. 2005. “Adam Smith, Behavioral Economist.” Journal of Economic Perspectives 19 (3): 131–45. https://www.aeaweb.org/articles?id=10.1257/089533005774357897 

Gruber, Jonathan. 2001. “Tobacco at the Crossroads: The Past and Future of Smoking Regulation in the United States.” Journal of Economic Perspectives 15 (2): 193–212. https://www.aeaweb.org/articles?id=10.1257/jep.15.2.193 

Rabin, Matthew, and Richard H. Thaler. 2001. “Anomalies: Risk Aversion.” Journal of Economic Perspectives 15 (1): 219–32. https://www.aeaweb.org/articles?id=10.1257/jep.15.1.219 

Fehr, Ernst, and Simon Gächter. 2000. “Fairness and Retaliation: The Economics of Reciprocity.” Journal of Economic Perspectives 14 (3): 159–81. https://www.aeaweb.org/articles?id=10.1257/jep.14.3.159 

Before 2000

Bikhchandani, Sushil, David Hirshleifer, and Ivo Welch. 1998. “Learning from the Behavior of Others: Conformity, Fads, and Informational Cascades.” Journal of Economic Perspectives 12 (3): 151–70. https://www.aeaweb.org/articles?id=10.1257/jep.12.3.151 

Siegel, Jeremy J., and Richard H. Thaler. 1997. “Anomalies: The Equity Premium Puzzle.” Journal of Economic Perspectives 11 (1): 191–200. https://www.aeaweb.org/articles?id=10.1257/jep.11.1.191 

Camerer, Colin F., and Richard H. Thaler. 1995. “Anomalies: Ultimatums, Dictators and Manners.” Journal of Economic Perspectives 9 (2): 209–19. https://www.aeaweb.org/articles?id=10.1257/jep.9.2.209 

Kahneman, Daniel, Jack L. Knetsch, and Richard H. Thaler. 1991. “Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias.” Journal of Economic Perspectives 5 (1): 193–206. https://www.aeaweb.org/articles?id=10.1257/jep.5.1.193 

Thaler, Richard H. 1990. “Anomalies: Saving, Fungibility, and Mental Accounts.” Journal of Economic Perspectives 4 (1): 193–205. https://www.aeaweb.org/articles?id=10.1257/jep.4.1.193 

Loewenstein, George, and Richard H. Thaler. 1989. “Anomalies: Intertemporal Choice.” Journal of Economic Perspectives 3 (4): 181–93. https://www.aeaweb.org/articles?id=10.1257/jep.3.4.181 

Thaler, Richard H. 1988. “Anomalies: The Ultimatum Game.” Journal of Economic Perspectives 2 (4): 195–206. https://www.aeaweb.org/articles?id=10.1257/jep.2.4.195 

Machina, Mark J. 1987. “Choice under Uncertainty: Problems Solved and Unsolved.” Journal of Economic Perspectives 1 (1): 121–54. https://www.aeaweb.org/articles?id=10.1257/jep.1.1.121