Deception in markets : an economic analysis

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Title:

Author:

Gerschlager, Caroline.

ISBN:

9781403943453

Publication Information:

Houndmills, Basingstoke, Hampshire ; New York, N.Y. : Palgrave Macmillan, 2005.

Physical Description:

xii, 367 p. : ill. ; 23 cm.

Contents:

1. Deception and game theory / S. Abu Turab Rizvi -- 2. Rational deception / Paul Dumouchel -- 3. A deceptive journey from rational expectations to bounded rationality / Esther-Mirjam Sent -- 4. Deception in markets : the Enron case / Caroline Gerschlager -- 5. Deception in economics experiments / Rachel T. A. Croson -- 6. Self-deception and deception in capital markets / Joshua Coval, David Hirshleifer and Siew Hong Teoh -- 7. Price theory and the study of deception in the exchange process / Laurence S. Moss -- 8. Deception, regulation and politics / Alan Hamlin -- 9. Deception, self-deception and new institutional economics / Gisela Kubon-Gilke -- 10. Deception and its preconditions : issues raised by financial markets / Vincent-Antonin Lepinay and Ellen Hertz -- 11. Deception in economic anthropology / Paul van der Grijp -- 12. Gift exchange, play and deception / Marcel Henaff.

Abstract:

"This book presents a discussion of modern economic analyses of deception in markets. On the one hand, contributors emphasize conceptual strengths and limits of the concept of rationality when applied to deception, and, on the other hand, they focus on human behavior. Incentives to deceive as well as experimental and empirical evidence of deceptive behavior are highlighted and discussed in the context of economic theory and policy issues."--BOOK JACKET.

Subject Term:

Information theory in economics.

Fraud.

Business ethics.

Institutional economics.

Economics.

Added Author:

Gerschlager, Caroline.

Electronic Access:

Table of contents only http://www.loc.gov/catdir/toc/fy053/2004058335.html
Contributor biographical information http://www.loc.gov/catdir/enhancements/fy0618/2004058335-b.html
Publisher description http://www.loc.gov/catdir/enhancements/fy0618/2004058335-d.html

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Summary

This volume focuses on modern economic analyses of deception in markets. The contributors offer a systematic account of how different approaches to modern economics deal with dishonesty and cheating in the marketplace. The particular focus is on economic concepts such as rationality and behaviour in relation to deception. Analyses are presented from the perspective of standard economic frameworks (i.e. game theory, new institutional economics, new classical macroeconomics) while behavioural developments (i.e. behavioural economics and finance) are referred to, challenging the basic economic concepts of rationality and self-interest. Finally, anthropological findings are used to contrast these economic conceptions of deception.