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Advances in Psychological Science    2019, Vol. 27 Issue (3) : 406-417     DOI: 10.3724/SP.J.1042.2019.00406
Special Section in Honor of the 2017 Nobel Laureate in Economics Richard H. Thaler |
Disclosing behavioral anomalies in economic management: Implications for mental accounting theory
LIU Pei,FENG Yidan,LI Aimei(),LIU Wei,XIE Jianfei
Management School, Jinan University, Guangzhou 510632, China
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Abstract  

In 2017, Richard H. Thaler was awarded the Nobel Prize in Economics. A key contribution towards this was his work on progressing his theory of mental accounting. Of late this theory has been used to explain some behavioral anomalies contrary to the “rational economic man” hypothesis in two major areas including consumer decision-making and financial and management decision-making. This article takes the applied research in the two fields as the external logic, and the three major process of mental accounting as the internal logic, mainly exploring ten behavioral phenomenon anomalous, including the “label effect”, “budget effect”, “price illusions”, “decoupling effect” and “utility bias” in consumer decision-making; “fly-paper effect”, the “puzzle of remuneration perception”, “puzzle of taxes and investments”, the “puzzle of accounting information disclosure” and “disposition effect” in financial and management decision making. We hope to demonstrate the latest developments in mental accounting theory. Additionally, we also discuss two possible applications for the future. Firstly, further research might also be interested in the possible internal processes and mechanisms of mental accounting and its impact on human decision-making through eye-motion tracking technology and the technology of cognitive neuroscience. Secondly, future research may be concerned with the applications of mental accounting towards nudge theory; particularly in the context of government and organizational management.

Keywords mental accounting      consumer decision-making      financial and management decision-making      behavioral anomalies      nudge     
ZTFLH:  B849: F08  
Corresponding Authors: Aimei LI     E-mail: tliaim@jnu.edu.cn
Issue Date: 22 January 2019
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Pei LIU
Yidan FENG
Aimei LI
Wei LIU
Jianfei XIE
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Pei LIU,Yidan FENG,Aimei LI, et al. Disclosing behavioral anomalies in economic management: Implications for mental accounting theory[J]. Advances in Psychological Science, 2019, 27(3): 406-417.
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http://journal.psych.ac.cn/xlkxjz/EN/10.3724/SP.J.1042.2019.00406     OR     http://journal.psych.ac.cn/xlkxjz/EN/Y2019/V27/I3/406
心理账户的过程 消费决策 金融管理决策
1. 心理账户的设立 标签效应
预算效应
粘蝇纸效应
薪酬感知之谜
2. 心理账户的运算 价格幻觉
解耦效应
税收-投资之谜
会计信息披露之谜
3. 心理账户的关闭 效用偏差 处置效应
  
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