Bruno S. Frey

Burno S. Frey is Professor of Economics at the University of Zurich, Distinguished Professor of Behavioural Science at Warwick Business School, University of Warwick, and Research Director of CREMA (the Center for Research in Economics, Management, and the Arts).

  • Happiness

    Happiness

    A Revolution in Economics

    Bruno S. Frey

    A leading economist discusses the potential of happiness research (the quantification of well-being) to answer important questions that standard economics methods are unable to analyze.

    Revolutionary developments in economics are rare. The conservative bias of the field and its enshrined knowledge make it difficult to introduce new ideas not in line with received theory. Happiness research, however, has the potential to change economics substantially in the future. Its findings, which are gradually being taken into account in standard economics, can be considered revolutionary in three respects: the measurement of experienced utility using psychologists' tools for measuring subjective well-being; new insights into how human beings value goods and services and social conditions that include consideration of such non-material values as autonomy and social relations; and policy consequences of these new insights that suggest different ways for government to affect individual well-being. In Happiness, emphasizing empirical evidence rather than theoretical conjectures, Bruno Frey substantiates these three revolutionary claims for happiness research. After tracing the major developments of happiness research in economics and demonstrating that we have gained important new insights into how income, unemployment, inflation, and income demonstration affect well-being, Frey examines such wide-ranging topics as democracy and federalism, self-employment and volunteer work, marriage, terrorism, and watching television from the new perspective of happiness research. Turning to policy implications, Frey describes how government can provide the conditions for people to achieve well-being, arguing that a crucial role is played by adequate political institutions and decentralized decision making. Happiness demonstrates the achievements of the economic happiness revolution and points the way to future research.

    • Hardcover $38.00 £32.00
    • Paperback $25.00 £20.00
  • Economics and Psychology

    Economics and Psychology

    A Promising New Cross-Disciplinary Field

    Bruno S. Frey and Alois Stutzer

    Leading economics scholars consider the influence of psychology on economics, discussing topics including pro-social behavior, conditional trust, neuroeconomics, procedural utility, and happiness research.

    The integration of economics and psychology has created a vibrant and fruitful emerging field of study. The essays in Economics and Psychology take a broad view of the interface between these two disciplines, going beyond the usual focus on "behavioral economics." As documented in this volume, the influence of psychology on economics has been responsible for a view of human behavior that calls into question the assumption of complete rationality (and raises the possibility of altruistic acts), the acceptance of experiments as a valid method of economic research, and the idea that utility or well-being can be measured.

    The contributors, all leading researchers in the field, offer state-of-the-art discussions of such topics as pro-social behavior and the role of conditional cooperation and trust, happiness research as an empirical tool, the potential of neuroeconomics as a way to deepen understanding of individual decision making, and procedural utility as a concept that captures the well-being people derive directly from the processes and conditions leading to outcomes. Taken together, the essays in Economics and Psychology offer an assessment of where this new interdisciplinary field stands and what directions are most promising for future research, providing a useful guide for economists, psychologists, and social scientists.

    • Hardcover $34.00 £28.00
    • Paperback $25.00 £20.00

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  • Reflexive Governance for Global Public Goods

    Reflexive Governance for Global Public Goods

    Eric Brousseau, Tom Dedeurwaerdere, and Bernd Siebenhüner

    Governance challenges and solutions for the provision of global public goods in such areas as the environment, food security, and development.

    Global public goods (GPGs)—the economic term for a broad range of goods and services that benefit everyone, including stable climate, public health, and economic security—pose notable governance challenges. At the national level, public goods are often provided by government, but at the global level there is no established state-like entity to take charge of their provision. The complex nature of many GPGs poses additional problems of coordination, knowledge generation and the formation of citizen preferences. This book considers traditional public economy theory of public goods provision as oversimplified, because it is state centered and fiscally focused. It develops a multidisciplinary look at the challenges of understanding and designing appropriate governance regimes for different types of goods in such areas as the environment, food security, and development assistance.

    The chapter authors, all leading scholars in the field, explore the misalignment between existing GPG policies and actors' incentives and understandings. They analyze the complex impact of incentives, the involvement of stakeholders in collective decision making, and the specific coordination needed for the generation of knowledge. The book shows that governance of GPGs must be democratic, reflexive—emphasizing collective learning processes—and knowledge based in order to be effective.

    • Hardcover $11.75 £9.99
    • Paperback $9.75 £7.99