Economic Choice Theory: An Experimental Analysis of Animal Behavior
Cambridge University Press, 7/13/1995
EAN 9780521454889, ISBN10: 0521454883
Hardcover, 248 pages, 22.9 x 15.2 x 1.8 cm
Language: English
This book details the results of the authors' research using laboratory animals to investigate individual choice theory in economics-consumer-demand and labour supply behaviour and choice under uncertainty. The use of laboratory animals provides the opportunity to conduct controlled experiments involving precise and demanding tests of economic theory with rewards and punishments of real consequence. Economic models are compared to psychological and biological choice models along with the results of experiments testing between these competing explanations. Results of animal experiments are used to address questions of social policy importance.
Preface
1. Introduction
2. Commodity-choice behaviour I
some initial tests of the theory
3. Commodity-choice behaviour II
tests of competing motivational processes and the representative consumer hypothesis
4. Labour-supply behaviour I
initial tests of the theory with some public policy implications
5. Labour-supply behaviour II
tests of competing motivational processes and earnings distributions for animal workers
6. Choices over uncertain outcomes
7. Intertemporal choice
8. Summing up
Bibliography
Index.