Animal Spirits – How Human Psychology Drives the Economy, and Why it Matters for Global Capitalism

By P. Dent. 2010

856 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Political Science and International Relations

View Paper: https://www.semanticscholar.org/paper/b3a1270109e636ccb95b104e1254dcc43e912c9e

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Citations in the corpus

Fair, Transparent, and Accountable Algorithmic Decision-making Processes (2017, background): “Human decision making has often shown signiﬁcant limitations and extreme bias in public policy, resulting in ineﬃcient and/or unjust processes and outcomes [2, 23,57,65].”
Uncertainty, Expectations and Behavioural Aspects of Housing Market Choices (2011, background): “His concept of “animal spirits” and the question of how price expectations are formed in volatile markets has recently come to prominence as economists seek to understand the origins and implications of the current recession (e.g. Akerlof & Shiller 2009).”
The global credit boom: Challenges for macroeconomics and policy (2009, background): “Examples of irrational behaviours include anchoring, persistent biases, overcon dence and herding.17 Recent analysis of nancial cycles that use behavioural models to explain bubbles include Shiller (2000, 2008) and Akerlof and Shiller (2009).”
The Emergence of a Finance Culture in American Households, 1989-2007 (2015, background): “This trend is also apparent in the widespread acquisition and trading of investment assets.”
The Tyranny of Data? The Bright and Dark Sides of Data-Driven Decision-Making for Social Good (2016, background): “The history of human decision-making – particularly when it comes to questions of power in resource allocation, fairness, justice, and other public goods – is wrought with innumerable examples of extreme bias, leading towards corrupt, inefficient or unjust processes and outcomes [2, 34, 70, 87].”
Investing with Prejudice: The Relationship between Women's Presence on Company Boards and Objective and Subjective Measures of Company Performance (2009, background): “Amongst other things, these are shaped by (a) market sentiment (in particular, confidence; Akerlof and Shiller, 2009; Barberis and Thaler, 2003), (b) behaviour and beliefs of other investors (see Keynes, 1936) and (c) analysts’ views about a company’s prospects (Dechow and Sloan, 1997).”
Accounting, decisions and promises (2016, background): “The promise ignites animal spirits (Akerlof & Shiller, 2009; Keynes, 2008 [1936]) such as the ability and energy to act in the face of uncertainty and open horizons.”
Payments for Environmental Services: Evolution Toward Efficient and Fair Incentives for Multifunctional Landscapes (2012, background): “The language of PES refers primarily to the efficiency of quid pro quo (in this case, money for services), but as we discuss in this review, the fairness side deserves at least equal attention, as is gradually rediscovered for the rest of the economy (30).”
Behavioral Economics and Tax Policy (2009, background): “Akerlof and Shiller (2009) provide an overview of the potential role of behavioral economics in macroeconomics and. macroeconomic policy.”
Roepke Lecture in Economic Geography—Crises, Geographic Disruptions and the Uneven Development of Political Responses (2011, background): “More systemic versions focus on expectations and the “animal spirits” that are so vital to drive growth and innovation but inevitably produce speculative waves of creative destruction (Partnoy 2003; Akerlof and Shiller 2009).”