This book is unique among modern contributions to behavioral
economics in presenting a grand synthesis between the kind of
behavioral economics popularized by Richard Thaler, earlier
approaches such as those of the 1978 Nobel Laureate Herbert Simon,
evolutionary psychology, and evolutionary economics from Veblen and
Marshall through to neo-Schumpeterian thinking. The synthesis
employs a complex adaptive systems approach to how people think,
the lifestyles they build, and how new production technologies and
products are gradually adopted and produce changes. Using a huge
range of examples, it takes behavioral economics from its recent
focus on 'nudging' consumers, to the behavior of firms and other
organizations, the challenges of achieving structural change and
transitioning to environmentally sustainable lifestyles, and
instability of the financial system. This book will be of great
interest to academics and graduate students who seek a broader view
of what behavioral economics is and what it might become.
General
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