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Sunday, July 05, 2015

Behavioural Economics and Financial Behaviour Links

Below are some links I promised to send to various people. Not intended to be exhaustive but if you get through the several thousands of pages of introductory material below happy to send more!

1. The FCA Occassional papers provide a very interesting source of information about the potential application of behavioural economics and related areas in regulatory contexts.

2. I have kept a broad reading list about behavioural economics and policy. Some of the key readable introductions are below

Popular texts:
1. Ariely (2008), Predictably irrational
2. Kahneman (2011), Thinking, fast and slow
3. Thaler & Sunstein (2008), Nudge: Improving Decisions About Health, Wealth, and Happiness
4. Akerlof & Kranton (2010), Identity Economics: How Our Identities Shape Our Work, Wages, and Well-Being.
5. Sunstein (2013) Simpler: The Future of Government
6. Akerlof and Shiller (2009) Animal Spirits
7. Lunn (2008) Basic Instincts: Human Nature and the New Economics

3. The Behavioural Insights Team approach developed with many UK academics is available in these papers (MINDSPACE paper and Journal of Economic Psychology paper). 

4. Bubb and Pildes "How Behavioural Economics Trims its Sails and Why" argues that much of BE has artificially restricted the domain of potential public policies by focusing on choice-preserving mechanisms - response by Sunstein gives a good sense of where the current debate is focused. 

5. My short piece on Which? conversation blog outlines some of the issues in the debate around Nudge and financial regulation. 

6. Nice VoxEU on the potential for behavioural financial regulation. 

7. Very interesting page outlining recent reports commissioned by the Australian Securities and Investments Commission and carried out by the Queensland Behavioural Economics Group

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