An Economic Theory of Greed, Love, Groups, and Networks

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Cambridge University Press, Mar 7, 2013 - Business & Economics - 431 pages
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Why are people loyal? How do groups form and how do they create incentives for their members to abide by group norms? Until now, economics has only been able to partially answer these questions. In this groundbreaking work, Paul Frijters presents a new unified theory of human behaviour. To do so, he incorporates comprehensive yet tractable definitions of love and power, and the dynamics of groups and networks, into the traditional mainstream economic view. The result is an enhanced view of human societies that nevertheless retains the pursuit of self-interest at its core. This book provides a digestible but comprehensive theory of our socioeconomic system, which condenses its immense complexity into simplified representations. The result both illuminates humanity's history and suggests ways forward for policies today, in areas as diverse as poverty reduction and tax compliance.
 

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Contents

Introduction and preview
1
Economicus view
51
to the mainstream view
68
The missing building block
74
perspective
113
Figures
130
Groups and power
145
Networks and markets
226
of GDP trajectories in transition regions 19892002
250
The aggregate view
301
Formal models and extensions
349
and economic growth
389
References
397
Index
423
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About the author (2013)

Professor Paul Frijters is a Professor of Economics at the University of Queensland. He was elected 'Best Economist under 40 in Australia' by the Economic Society of Australia for 2009-11, and his work consistently ranks in the top 4% of downloaded and cited economic research in the world. Professor Frijters has undertaken research in a wide variety of fields, including happiness and well-being, migration in China, behavioural economics and health economics. The findings of his research feature regularly in the global media.

Dr Gigi Foster is a senior lecturer in the School of Economics within the Australian School of Business at the University of New South Wales. Her research focuses primarily on decisions related to human capital, with a particular emphasis on social influence and behavioural economics.

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