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Behavioral Economics and Healthy Behaviors: Key Concepts and Current Research
by Andrew Barnes Thomas Rice Yaniv HanochThe field of behavioural economics can tell us a great deal about cognitive bias and unconscious decision-making, challenging the orthodox economic model whereby consumers make rational and informed choices. But it is in the arena of health that it perhaps offers individuals and governments the most value. In this important new book, the most pernicious health issues we face today are examined through a behavioral economic lens. It provides an essential and timely overview of how this growing field of study can reframe and offer solutions to some of the biggest health issues of our age. The book opens with an overview of the core theoretical concepts, after which each chapter assesses how behavioral economic research and practice can inform public policy across a range of health issues. Including chapters on tobacco, alcohol and drug use, physical activity, dietary intake, cancer screening and sexual health, the book integrates the key insights from the field to both developed and developing nations. Also asking important ethical questions around paternalism and informed choice, this book will be essential reading for students and researchers across psychology, economics and business and management, as well as public health professionals wishing for a concise overview of the role behavioral economics can potentially play in allowing people to live healthier lives.
Behavioral Economics and Its Applications
by Peter Diamond Hannu VartiainenIn the last decade, behavioral economics, borrowing from psychology and sociology to explain decisions inconsistent with traditional economics, has revolutionized the way economists view the world. But despite this general success, behavioral thinking has fundamentally transformed only one field of applied economics-finance. Peter Diamond and Hannu Vartiainen's Behavioral Economics and Its Applications argues that behavioral economics can have a similar impact in other fields of economics. In this volume, some of the world's leading thinkers in behavioral economics and general economic theory make the case for a much greater use of behavioral ideas in six fields where these ideas have already proved useful but have not yet been fully incorporated--public economics, development, law and economics, health, wage determination, and organizational economics. The result is an attempt to set the agenda of an important development in economics--an agenda that will interest policymakers, sociologists, and psychologists as well as economists. Contributors include Ian Ayres, B. Douglas Bernheim, Truman F. Bewley, Colin F. Camerer, Anne Case, Michael D. Cohen, Peter Diamond, Christoph Engel, Richard G. Frank, Jacob Glazer, Seppo Honkapohja, Christine Jolls, Botond Koszegi, Ulrike Malmendier, Sendhil Mullainathan, Antonio Rangel, Emmanuel Saez, Eldar Shafir, Sir Nicholas Stern, Jean Tirole, Hannu Vartiainen, and Timothy D. Wilson.
A Behavioral Economics Approach to Interactive Information Retrieval: Understanding and Supporting Boundedly Rational Users (The Information Retrieval Series #48)
by Jiqun LiuThis book brings together the insights from three different areas, Information Seeking and Retrieval, Cognitive Psychology, and Behavioral Economics, and shows how this new interdisciplinary approach can advance our knowledge about users interacting with diverse search systems, especially their seemingly irrational decisions and anomalies that could not be predicted by most normative models.The first part “Foundation” of this book introduces the general notions and fundamentals of this new approach, as well as the main concepts, terminology and theories. The second part “Beyond Rational Agents” describes the systematic biases and cognitive limits confirmed by behavioral experiments of varying types and explains in detail how they contradict the assumptions and predictions of formal models in information retrieval (IR). The third part “Toward A Behavioral Economics Approach” first synthesizes the findings from existing preliminary research on bounded rationality and behavioral economics modeling in information seeking, retrieval, and recommender system communities. Then, it discusses the implications, open questions and methodological challenges of applying the behavioral economics framework to different sub-areas of IR research and practices, such as modeling users and search sessions, developing unbiased learning to rank and adaptive recommendations algorithms, implementing bias-aware intelligent task support, as well as extending the conceptualization and evaluation on IR fairness, accountability, transparency and ethics (FATE) with the knowledge regarding both human biases and algorithmic biases.This book introduces a behavioral economics framework to IR scientists seeking a new perspective on both fundamental and new emerging problems of IR as well as the development and evaluation of bias-aware intelligent information systems. It is especially intended for researchers working on IR and human-information interaction who want to learn about the potential offered by behavioral economics in their own research areas.
Behavioral Economics for Cost-Benefit Analysis Benefit Validity: Benefit Validity When Sovereign Consumers Seem to Make Mistakes
by David L. WeimerHow should policy analysts assess 'benefit validity' when behavioral anomalies appear relevant? David L. Weimer provides thoughtful answers through practical guidelines. Behavioral economists have identified a number of situations in which people appear not to behave according to the neoclassical assumptions underpinning welfare economics and its application to the assessment of the efficiency of proposed public policies through cost-benefit analysis. This book introduces the concept of benefit validity as a criterion for estimating benefits from observed or stated preference studies, and provides practical guidelines to help analysts accommodate behavioral findings. It considers benefit validity in four areas: violations of expected utility theory, unexpectedly large differences between willingness to pay and willingness to accept, non-exponential discounting, and harmful addiction. In addition to its immediate value to practicing policy analysts, it helps behavioral economists identify issues where their research programs can make practical contributions to better policy analysis. Provides an accessible overview of neoclassical welfare economics Reviews progress toward developing a behaviorally-informed welfare economics Provides practical guidelines for dealing with behavioral challenges to CBA
Behavioral Economics For Dummies
by Morris AltmanA guide to the study of how and why you really make financial decisionsWhile classical economics is based on the notion that people act with rational self-interest, many key money decisions--like splurging on an expensive watch--can seem far from rational. The field of behavioral economics sheds light on the many subtle and not-so-subtle factors that contribute to our financial and purchasing choices. And in Behavioral Economics For Dummies, readers will learn how social and psychological factors, such as instinctual behavior patterns, social pressure, and mental framing, can dramatically affect our day-to-day decision-making and financial choices.Based on psychology and rooted in real-world examples, Behavioral Economics For Dummies offers the sort of insights designed to help investors avoid impulsive mistakes, companies understand the mechanisms behind individual choices, and governments and nonprofits make public decisions.A friendly introduction to the study of how and why people really make financial decisionsThe author is a professor of behavioral and institutional economics at Victoria UniversityAn essential component to improving your financial decision-making (and even to understanding current events), Behavioral Economics For Dummies is important for just about anyone who has a bank account and is interested in why--and when--they spend money.
Behavioral Economics for Leaders: Research-Based Insights on the Weird, Irrational, and Wonderful Ways Humans Navigate the Workplace
by Matthias SutterEvery leader should know the surprising research and strange conclusions of behavioral economics--for fairness, teamwork and productivity You and your colleagues don’t always make rational decisions. Sometimes that's a problem that leaders must address, and and sometimes that can be a good thing--when employees put their colleagues interests ahead of their own. Dr. Matthias Sutter, a leading economist from Germany's world-renowned Max Planck Institute explains the latest surprising insights based on behavioral economics research. The book explains how people tick, how they react to incentives (monetary or non-monetary in nature) and what that means for working together—or against each other—at work. Dr. Sutter summarizes new and classic behavorial science research that applies the everyday business world, so leaders can improve teams and organizations, the research-based way. Find out which factors are important for professional success, from career entry to senior management. Start your career on the right footing, advance quicker, and strategize how to meet your goals Understand what’s holding your colleagues back from productivity and implement evidence-based changes Identify hidden biases in yourself and others to overcome inequalities and inefficiencies Become a better leader and decision-maker by learning to interpret people’s actions Individuals, organizations, and teams will benefit from the often-counterintuitive wisdom in this book. Based on the author’s 20 years of research—plus the findings of the world’s top behavioral economists—Behavioral Economics for Leaders can help you get your team and your organization where you want to lead it.
The Behavioral Economics of Inflation Expectations: Macroeconomics Meets Psychology
by Tobias F. RötheliAs one of the first texts to take a behavioral approach to macroeconomic expectations, this book introduces a new way of doing economics. Rötheli uses cognitive psychology in a bottom-up method of modeling macroeconomic expectations. His research is based on laboratory experiments and historical data, which he extends to real-world situations. Pattern extrapolation is shown to be the key to understanding expectations of inflation and income. The quantitative model of expectations is used to analyze the course of inflation and nominal interest rates in a range of countries and historical periods. The model of expected income is applied to the analysis of business cycle phenomena such as the great recession in the United States. Data and spreadsheets are provided for readers to do their own computations of macroeconomic expectations. This book offers new perspectives in many areas of macro and financial economics.
Behavioral Economics of Preferences, Choices, and Happiness
by Shinsuke Ikeda Hideaki Kiyoshi Kato Fumio Ohtake Yoshiro TsutsuiThis book is a collection of important contributions by Japanese researchers and their coauthors to present current advances in behavioral economics and finance, particularly in relation to decision making and human well-being. The topics covered in this volume include decision making under the conditions of inter-temporal choices, risk and social relations, happiness and the neuro-scientific/biological basis of behavior. The book includes works of research, both theoretical and empirical, on time discounting, time preferences, risk aversion, altruism, social status, happiness, addiction, limited attention and health and financial investments. The authors of the chapters add supplementary discussions to survey more recent advances on related topics or to provide detailed information that were abbreviated in the original publications. The addenda will enable readers to deepen their understanding of decision making and human well-being.
The Behavioral Economics of Translation (Routledge Advances in Translation and Interpreting Studies)
by Douglas RobinsonThis book applies frameworks from behavioral economics to Western thinking about translation, mapping four approaches to eight keywords in translation studies to bring together divergent perspectives on the study of translation and interpreting. The volume takes its points of departure from the tensions between the concerns of behavioral and neoclassical economists. The book considers on one side behavioral economists’ interest in the predictable irrationality of “Humans” and its nuances as they unfold in terms of gender, here organized around Masculine Human, Feminine Human, and Queer perspectives, and on the other side neoclassical economists’ chief concerns with the unfailing rationality of the “Econs.” Robinson applies these four approaches across eight chapters, each representing a keyword in the study of translation—agency; difference; Eurocentrism; hermeneutics; language; norms; rhetoric; and world literature—with case studies that problematize the different categories. Taken together, the book offers a comprehensive treatment of the behavioral economics of translation and promotes new ways of thinking in the study of translation and interpreting, making it of interest to scholars in the discipline as well as those working along interdisciplinary lines in related fields such as philosophy, literature, and political science.
Behavioral Emergencies for Healthcare Providers
by Leslie S. Zun Kimberly Nordstrom Michael P. WilsonThis fully updated second edition focuses on mental illness, both globally and in terms of specific mental-health-related visits encountered in emergency department settings, and provides practical input from physicians experienced with adult emergency psychiatric patients. It covers the pre-hospital setting and advising on evidence-based practice; from collaborating with psychiatric colleagues to establishing a psychiatric service in your emergency department. Potential dilemmas when treating pregnant, geriatric or homeless patients with mental illness are discussed in detail, along with the more challenging behavioral diagnoses such as substance abuse, factitious and personality disorders, delirium, dementia, and PTSD. The new edition of Behavioral Emergencies for Healthcare Providers will be an invaluable resource for psychiatrists, psychologists, psychiatric and emergency department nurses, trainee and experienced emergency physicians, and other mental health workers.
Behavioral Emergencies for the Emergency Physician
by Mary Nan S. Mallory Lara G. Chepenik Leslie S. ZunEmergency physicians, in all practice settings, care for patients with both undifferentiated psycho-behavioral presentations and established psychiatric illness. This reference-based text goes beyond diagnostics, providing practical input from physicians experienced with adult emergency psychiatric patients. Physicians will increase their understanding and gain confidence working with these patients, even when specialized psychiatric back-up is lacking. Behavioral Emergencies for the Emergency Physician is comprehensive, covering the pre-hospital setting and advising on evidence-based practice; from collaborating with psychiatric colleagues to establishing a psychiatric service in your ED. Sedation, restraint and seclusion are outlined. Potential dilemmas when treating pregnant, geriatric or homeless patients with mental illness are discussed in detail, along with the more challenging behavioral diagnoses such as malingering, factitious and personality disorders. This go-to, comprehensive volume is invaluable for trainee and experienced emergency physicians, as well as psychiatrists, psychologists, psychiatric and emergency department nurses and other mental health workers.
Behavioral Endocrinology (2nd edition)
by Jill B. Becker S. Marc Breedlove David Crews Margaret M. MccarthyThis popular behavioral endocrinology text provides detailed information on what hormones are, how they affect cells, and how such effects can alter the behavior of animals, including humans. Presenting a broad continuum of levels of analysis, from molecular to evolutionary, the book discusses how genes work, the structure of cells, the interactions of endocrine organs, the behavior of individuals, the structure of social hierarchies, and the evolution of mating systems. The second edition, while maintaining the strengths of the first edition, has been thoroughly revised to reflect recent developments in genetics and molecular biology and related social concerns. It contains four new chapters: on the use of molecular biology techniques in behavioral endocrinology, on psychoneuroimmunology, on hormonal influences on sensorimotor function, and on cognitive function in nonhuman animals.
Behavioral Ethics in Practice: Why We Sometimes Make the Wrong Decisions
by Cara Biasucci Robert PrenticeThis book is an accessible, research-based introduction to behavioral ethics. Often ethics education is incomplete because it ignores how and why people make moral decisions. But using exciting new research from fields such as behavioural psychology, cognitive science, and evolutionary biology, the study of behavioural ethics uncovers the common reasons why good people often screw up. Scientists have long studied the ways human beings make decisions, but only recently have researchers begun to focus specifically on ethical decision making. Unlike philosophy and religion, which aim to tell people how to think and act about various moral issues, behavioral ethics research reveals the factors that influence how people really make moral decisions. Most people get into ethical trouble for doing obviously wrong things. Aristotle cannot help, but learning about behavioral ethics can. By supplementing traditional approaches to teaching ethics with a clear, detailed, research-based introduction to behavioral ethics, beginners can quickly become familiar with the important elements of this new field. This book includes the bonus of being coordinated with Ethics Unwrapped – a free, online, educational resource featuring award-winning videos and teaching materials on a variety of behavioral ethics (and general ethics) topics. This book is a useful supplement for virtually every ethics course, and important in any course where incorporating practical ethics in an engaging manner is paramount. The content applies to every discipline –business ethics, journalism, medicine, legal ethics, and others – because its chief subject is the nature of moral decision making. The book is also highly relevant to practitioners across all sectors.
Behavioral Evolution and Integrative Levels: The T.c. Schneirla Conferences Series, Volume 1 (T.C. Schneirla Conferences Series)
by Gary Greenberg and Ethel TobachFirst published in 1984. Routledge is an imprint of Taylor & Francis, an informa company.
Behavioral Finance
by Baker H. Kent Nofsinger John R.A definitive guide to the growing field of behavioral finance This reliable resource provides a comprehensive view of behavioral finance and its psychological foundations, as well as its applications to finance. Comprising contributed chapters written by distinguished authors from some of the most influential firms and universities in the world, Behavioral Finance provides a synthesis of the most essential elements of this discipline, including psychological concepts and behavioral biases, the behavioral aspects of asset pricing, asset allocation, and market prices, as well as investor behavior, corporate managerial behavior, and social influences. Uses a structured approach to put behavioral finance in perspective Relies on recent research findings to provide guidance through the maze of theories and concepts Discusses the impact of sub-optimal financial decisions on the efficiency of capital markets, personal wealth, and the performance of corporations Behavioral finance has quickly become part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.
Behavioral Finance
by Edwin T. Burton Sunit N. ShahAn in-depth look into the various aspects of behavioral finance Behavioral finance applies systematic analysis to ideas that have long floated around the world of trading and investing. Yet it is important to realize that we are still at a very early stage of research into this discipline and have much to learn. That is why Edwin Burton has written Behavioral Finance: Understanding the Social, Cognitive, and Economic Debates. Engaging and informative, this timely guide contains valuable insights into various issues surrounding behavioral finance. Topics addressed include noise trader theory and models, research into psychological behavior pioneered by Daniel Kahneman and Amos Tversky, and serial correlation patterns in stock price data. Along the way, Burton shares his own views on behavioral finance in order to shed some much-needed light on the subject. Discusses the Efficient Market Hypothesis (EMH) and its history, and presents the background of the emergence of behavioral finance Examines Shleifer's model of noise trading and explores other literature on the topic of noise trading Covers issues associated with anomalies and details serial correlation from the perspective of experts such as DeBondt and Thaler A companion Website contains supplementary material that allows you to learn in a hands-on fashion long after closing the book In order to achieve better investment results, we must first overcome our behavioral finance biases. This book will put you in a better position to do so.
Behavioral Finance and Asset Prices: The Influence of Investor's Emotions (Contributions to Finance and Accounting)
by David Bourghelle Pascal Grandin Fredj Jawadi Philippe RozinIn recent decades, the financial markets have experienced various crises, shocks and disruptive events, driving high levels of volatility. This volatility is too strong to be fully justified simply by changes in fundamentals. This volume discusses these highly relevant issues with special focus on asset pricing and behavioral finance. Financial price assets of the 2020s appear to be driven by various attractors in addition to fundamentals, and there is no doubt that investor emotions, market sentiment, the news, and external factors such as uncertainty all play a key role. This has been clearly observed in recent years, especially during the ongoing coronavirus pandemic that has changed the common perception of the way financial markets work.
Behavioral Finance And Capital Markets
by Adam SzyszkaBehavioral Finance helps investors understand unusual asset prices and empirical observations originating out of capital markets. At its core, this field of study aids investors in navigating complex psychological trappings in market behavior and making smarter investment decisions. Behavioral Finance and Capital Markets reveals the main foundations underpinning neoclassical capital market and asset pricing theory, as filtered through the lens of behavioral finance. Szyszka presents and classifies many of the dynamic arguments being made in the current literature on the topic through the use of a new, ground-breaking methodology termed: the General Behavioral Asset Pricing Model (GBM). GBM describes how asset prices are influenced by various behavioral heuristics and how these prices deviate from fundamental values due to irrational behavior on the part of investors. The connection between psychological factors responsible for irrational behavior and market pricing anomalies is featured extensively throughout the text. Alternative explanations for various theoretical and empirical market puzzles - such as the 2008 U. S. financial crisis - are also discussed in a convincing and interesting manner. The book also provides interesting insights into behavioral aspects of corporate finance.
Behavioral Finance and Investor Types
by Michael PompianAchieve investing success by understanding your behavior typeThis groundbreaking book shows how to invest wisely by managing your behavior, and not just your money. Step by step, Michael Pompian (a leading authority in the practical application of Behavioral Finance concepts to wealth management) helps you plan a strategy targeted to your personality. The book includes a test for determining your investment type and offers strategies you can put into use when investing. It also includes a brief history of the stock market, and easy-to-comprehend information about stocks and investing to help you lay a solid foundation for your investment decisions.Behavioral Finance and Investor Types is divided into two parts. Test Your Type, gives an overview of Behavioral Finance as well as the elements that come into play when figuring out BIT, like active or passive traits, risk tolerance, and biases. The book includes a quiz to help you discover what category you are in. Plan and Act, contains the traits common to your type; an analysis of the biases associated with your type; and strategies and solutions that compliment and capitalize on your BIT.Offers a practical guide to an investing strategy that fits both your financial situation and your personality typeIncludes a test for determining your tolerance for risk and other traits that will determine your investment typeWritten by the Director of the Private Wealth Practice for Hammond Associates--an investment consulting firm serving institutional and private wealth clientsBehavioral Finance and Investor Types offers investors a better sense of what drives them and what puts on their breaks. By using the information found here, you'll quickly become savvy about the world of investing because you'll come to understand your place in it.
Behavioral Finance and Wealth Management
by Michael Pompian"Pompian is handing you the magic book, the one that reveals your behavioral flaws and shows you how to avoid them. The tricks to success are here. Read and do not stop until you are one of very few magicians."--Arnold S. Wood, President and Chief Executive Officer, Martingale Asset ManagementFear and greed drive markets, as well as good and bad investment decision-making. In Behavioral Finance and Wealth Management, financial expert Michael Pompian shows you, whether you're an investor or a financial advisor, how to make better investment decisions by employing behavioral finance research. Pompian takes a practical approach to the science of behavioral finance and puts it to use in the real world. He reveals 20 of the most prominent individual investor biases and helps you properly modify your asset allocation decisions based on the latest research on behavioral anomalies of individual investors.
Behavioral Finance and Wealth Management
by Michael M. PompianThe book that applies behavioral finance to the real world Understanding how to use behavioral finance theory in investing is a hot topic these days. Nobel laureate Daniel Kahneman has described financial advising as a prescriptive activity whose main objective should be to guide investors to make decisions that serve their best interests. The reality? That's easier said than done. In the Second Edition of Behavioral Finance and Wealth Management, Michael Pompian takes a practical approach to the growing science of behavioral finance, and puts it to use for real investors. He applies knowledge of 20 of the most prominent individual investor biases into "behaviorally-modified" asset allocation decisions. Offering investors and financial advisors a "self-help" book, Pompian shows how to create investment strategies that leverage the latest cutting edge research into behavioral biases of individual investors. This book: Shows investors and financial advisors how to either moderate or adapt to behavioral biases, in order to improve investment results and identifies "the best practical allocation" for investment portfolios. Using these two sound approaches for guiding investment decision-making, behavioral biases are incorporated into the portfolio management process Uses updated cases studies to show investors and financial advisors how an investor's behavior can be modified to improve investment decision-making Provides useable methods for creating behaviorally modified investment portfolios, which may help investors to reach their long term financial goals Heightens awareness of biases so that financial decisions and resulting economic outcomes are improved Offers advice on managing the effects of each bias in order to improve investment results This Second Edition illustrates investors' behavioral biases in detail and offers financial advisors and their clients practical advice about how to apply the science of behavioral finance to improve overall investment decision making.
Behavioral Finance and Your Portfolio: A Navigation Guide for Building Wealth (Wiley Finance)
by Michael M. PompianBecome a more strategic and successful investor by identifying the biases impacting your decision making. In Behavioral Finance and Your Portfolio, acclaimed investment advisor and author Michael M. Pompian delivers an insightful and thorough guide to countering the negative effect of cognitive and behavioral biases on your financial decisions. You’ll learn about the “Big Five” behavioral biases and how they’re reducing your returns and leading to unwanted and unnecessary costs in your portfolio. Designed for investors who are serious about maximizing their gains, in this book you’ll discover how to: ● Take control of your decision-making—even when challenging markets push greed and fear to intolerable levels ● Reflect on how to make investment decisions using data-backed and substantiated information instead of emotion and bias ● Counter deep-seated biases like loss aversion, hindsight and overconfidence with self-awareness and hard facts ● Identify your personal investment psychology profile, which you can use to inform your future financial decision making Behavioral Finance and Your Portfolio was created for individual investors, but will also earn a place in the libraries of financial advisors, planners and portfolio managers who are determined to counteract the less principled and data-driven aspects of their decision making.
Behavioral Finance at JP Morgan
by Aldo Sesia Malcolm P. BakerFollowing a successful model in Europe, JP Morgan has introduced a set of five U.S. retail mutual funds with an investment philosophy and marketing strategy grounded in behavioral finance. The asset management group believes that understanding investor biases like overconfidence, anchoring, and loss aversion is key to generating returns on the investment side and educating clients on the advisory side.
Behavioral Finance for Private Banking: From the Art of Advice to the Science of Advice (Wiley Finance #534)
by Thorsten Hens Enrico G. De Giorgi Kremena K. BachmannAn essential framework for wealth management using behavioral finance Behavioral Finance for Private Banking provides a complete framework for wealth management tailored to the unique needs of each client. Merging behavioral finance with private banking, this framework helps you gain a greater understanding of your client’s wants, needs, and perspectives to streamline the decision making process. Beginning with the theoretical foundations of investment decision making and behavioral biases, the discussion delves into cultural differences in global business and asset allocation over the life cycle of the investment to help you construct a wealth management strategy catered to each individual’s needs. This new second edition has been updated to include coverage of fintech and neurofinance, an extension of behavioral finance that is beginning to gain traction in the private banking space. Working closely with clients entails deep interpersonal give and take. To be successful, private banking professionals must be as well-versed in behavioral psychology as they are in finance; this intersection is the heart of behavioral finance, and this book provides essential knowledge that can help you better serve your clients’ needs. Understand the internal dialogue at work when investment decisions are made Overcome the most common behavioral biases—and watch for your own Learn how fintech and neurofinance impact all aspects of private banking Set up a structured wealth management process that places the client’s needs front and center Private banking clients demand more than just financial expertise. They want an advisor who truly understands their needs, and can develop and execute the kind of strategy that will help them achieve their goals. Behavioral Finance for Private Banking provides a complete framework alongside insightful discussion to help you become the solution your clients seek.
Behavioral Finance in the Digital Era: Saving and Investment Decisions (Routledge International Studies in Money and Banking)
by Elżbieta Kubińska Magdalena Adamczyk-Kowalczuk Anna MackoDue to swift technological changes and the resultant digital revolution, a wide range of new digital financial products and services have emerged in the financial markets, as witnessed in the context of the fintech sector, the economics of blockchain and NFT issuance. This book takes an in-depth look at the challenges faced by individuals who make investment decisions in a rapidly changing financial world and presents a concise and thorough overview of the multifaceted approach to investment and savings behavior. It explores behavioral digital finance, referencing the latest theories in economic psychology and financial markets and provides an analysis of the process of saving and investing in the context of our new digital reality, where an understanding of human–AI interaction and its benefits and threats is extremely important. It combines an accessible overview of classical and new behavioral theories, models of financial decision making as well as an analysis of the new trends in financial decision making. Special attention is given to financial decision support systems and the role of financial advice services, which are of growing importance, due to their increasing complexity and difficulty. The book combines theoretical considerations and wide-reaching empirical analyses from a representative sample of international respondents. It deals with the individual approach to human risk-taking, and human–AI interaction and its benefits and threats. The book explores how people react to algorithms, what drives algorithm aversion and appreciation, and how understanding of those mechanisms can be employed to improve financial advisory systems and also considers the impact of the Covid-19 pandemic on financial behavior. Chapter 4 of this book is freely available as a downloadable Open Access PDF at www.taylorfrancis.com under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 International license.