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THIS REVISED AND UPDATED EDITION OF THE CLASSIC WHY SMART PEOPLE MAKE BIG MONEY MISTAKES AND HOW TO CORRECT THEM GIVES YOU THE LATEST RESEARCH IN THE EXCITING FIELD OF BEHAVIORAL ECONOMICS.
In their fascinating investigation of the ways we handle money, Gary Belsky and Thomas Gilovich reveal the psychological forces -- the patterns of thinking and decision making -- behind seemingly irrational behavior. They explain why so many otherwise savvy people make foolish financial choices: why investors are too quick to... MORE
Filled with fresh insight; practical advice; and lively, illustrative anecdotes, this book gives you the tools you need to harness the powerful science of behavioral economics in any financial environment.
"A terrific introduction to the emerging science of behavioral finance." - Money magazine
"Great stuff. Fresh and helpful." - BusinessWeek
"This very helpful book is aimed at the novice and the expert, and you come away from it somewhat chastened by your own financial mistakes, but hopeful that you might learn a thing or two about holding onto your hard-earned cash. The authors don't offer simplistic solutions, but hard facts and sound advice."-Robert J. Hughes, SmartMoney
|Introduction: Why Smart People Make Big Money Mistakes||p. 1|
|An introduction to the life-changing science of behavioral economics|
|Not All Dollars Are Created Equal||p. 21|
|How "mental accounting" can help you save, or cost you money.|
|When Six of One Isn't Half A Dozen of the Other||p. 45|
|How "loss aversion" and the "sunk cost fallacy" lead you to throw good money after bad.|
|The Devil... MORE||p. 77|
|How the "status quo bias" and the "endowment effect" make financial choices difficult.|
|Number Numbness||p. 105|
|"Money illusion, " "bigness bias, " and other ways that ignorance about math and probabilities can hurt you.|
|Dropping Anchor||p. 131|
|Why "anchoring" and the "confirmation bias" lead you to make important money decisions based on unimportant information.|
|The Ego Trap||p. 155|
|"Overconfidence" and the price of thinking that you know more than you do.|
|Herd It Through The Grapevine||p. 183|
|"Information cascades" and the danger of relying too much on the financial moves of others.|
|Emotional Baggage||p. 209|
|The role of emotions in decision making: What don't know about how we feel.|
|Conclusion: Now What?||p. 235|
|Principles to ponder and steps to take.|
|Postscript: Psychic Income||p. 253|
|Table of Contents provided by Ingram. All Rights Reserved.|