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Preface 
INTRODUCTION 
1 Introduction
1.1 What is this book?
1.2 The origins of behavioral economics 
1.3 Methods
1.4 Looking ahead 
I CHOICE UNDER CERTAINTY 
2 Rational Choice Under Certainty 
2.1 Introduction 
2.2 Preferences 
2.3 Rational preferences
Box: Logical symbols
2.4 Indifference and strict preference
Box: How to do proofs 
2.5 Preference orderings
2.6 Choice under certainty
2.7 Utility 
Box: A final word about proofs 
2.8 Discussion 
3 Decision-making Under Certainty 
3.1 Introduction 
3.2 Opportunity costs 
3.3 Sunk costs 
3.4 Menu dependence and the decoy effect
3.5 Loss aversion and the endowment effect 
3.6 Anchoring and adjustment
3.7 Discussion
II JUDGMENT UNDER RISK AND UNCERTAINTY
4 Probability Judgment
4.1 Introduction 
4.2 Fundamentals of probability theory
4.3 Unconditional probability
Box: Odds
4.4 Conditional probability
4.5 Total probability and Bayes's rule 
4.6 Bayesian updating 
4.7 Discussion 
5 Judgment Under Risk And Uncertainty 
5.1 Introduction
5.2 The gambler's fallacy
5.3 Conjunction and disjunction fallacies 
5.4 Base-rate neglect 
5.5 Confirmation bias 
5.6 Availability 
5.7 Discussion
III CHOICE UNDER RISK AND UNCERTAINTY 
6 Rational Choice Under Risk and Uncertainty 
6.1 Introduction 
6.2 Uncertainty
6.3 Expected value
6.4 Expected utility
6.5 Attitudes toward risk
6.6 Discussion 
7 Decision-Making under Risk and Uncertainty 
7.1 Introduction 
7.2 Framing effects in decision-making under risk
7.3 Bundling and mental accounting
7.4 The Allais problem and the sure-thing principle
7.5 The Ellsberg problem and ambiguity aversion 
7.6 Probability weighting
7.7 Discussion
IV INTERTEMPORAL CHOICE
8 The Discounted Utility Model
8.1 Introduction 
8.2 Interest rates 
8.3 Exponential discounting 
Box: Discount rates 
8.4 Discussion
9 Intertemporal Choice
9.1 Introduction 
9.2 Hyperbolic discounting 
9.3 Choosing not to choose 
9.4 Preferences over profiles
9.5 Discussion
V STRATEGIC INTERACTION
10 Analytical Game Theory
10.1 Introduction 
10.2 Nash equilibrium in pure strategies 
10.3 Nash equilibrium in mixed strategies 
10.4 Equilibrium refinements 
10.5 Discussion 
11 Behavioral Game Theory
11.1 Introduction 
11.2 Social preferences: altruism, envy, fairness, and justice
11.3 Intentions, reciprocity, and trust 
11.4 Limited strategic thinking
11.5 Discussion
VI CONCLUDING REMARKS
12 General Discussion
12.1 Introduction
12.2 Behavioral welfare economics 
12.3 Assessing behavioral economics 
12.4 Conclusion 
Answer Key 
Bibliography 
Index

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