罗伯特·S.平狄克-微观经济学（第九版）PindyckPPT_Ch.19.pptxVIP

MICROECONOMICSby Robert S. Pindyck Daniel RubinfeldNinth EditionCopyright ? 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved Chapter 19Behavioral Economics (1 of 2)CHAPTER OUTLINE19.1 Reference Points and Consumer Preferences19.2 Fairness19.3 Rules of Thumb and Biases in Decision Making19.4 Bubbles19.5 Behavioral Economics and Public PolicyLIST OF EXAMPLES19.1 Selling a House19.2 New York City Taxicab Drivers19.3 Credit Card Debt19.4 Paying Not to Go to the Gym19.5 The Housing Price Bubble (1)19.6 The Housing Price Bubble (2) Behavioral Economics (2 of 2)What if consumers and firms do not always follow “rational” models of economic behavior? In this chapter we delve into the psychological aspects of how people make decisions.Preferences are not always clear or might vary depending on the context in which choices are made, and consumer choices are not always utility-maximizing. Some aspects of consumer behavior cannot be easily explained with the basic utility-maximizing assumptions.Adjustments to the standard model of consumer preferences and demand can be grouped into three categories: A tendency to value goods and services in part based on the setting one is in, a concern about the fairness of an economic transaction, and the use of simple rules of thumb as a way to cut through complex economic decisions. 19.1 Reference Points and Consumer Preferences (1 of 4)Psychologists and market research studies have found that perceived value depends in part on the setting in which the purchasing decision occurs. That setting creates a reference point.reference point The point from which an individual makes a consumption decision.Reference points can develop for many reasons: our past consumption of a good, our experience in a market, our expectation about how prices should behave, and even the context in which we consume a good. Reference points can strongly affect the way people approach economic decisions. 19.1 Reference Points and Consumer Preferences (2 of 4