Real-World Decision Making: an Encyclopedia of Behavioral Economics. Edited by Morris Altman. Santa Barbara, CA: Greenwood, 2015. 499 pages. Acid-free $100 (ISBN 978-1-4408-2815-7). Ebook available (978-1-4408-2816-4) call for pricing.

Altman is the Dean and Head of School of the Newcastle Business School, University of Newcastle in Callaghan, Australia. His areas of research include behavioral economics, x-inefficiency theory, institutional change, economics of cooperatives, economic history, methodology, and empirical macroeconomics. He has previously edited the Handbook of Contemporary Behavioral Economics (Routledge, 2006) and authored Behavioral Economics for Dummies (Wiley, 2012) and Economic Growth and the High Wage Economy (Routledge, 2012).

In this encyclopedia Altman states the main point of the encyclopedia is “to provide a comprehensive set of definitions and explanations of key concepts in behavioral economics” (xiii). The title work was conceived to be “easily understandable to scholars from across the disciplinary divide, students at different stages of their education, as well to public policy experts, journalists, politicians, and members of the general public” (xiii).

The encyclopedia starts with a table of contents that lists each entry alphabetically and the page number. After the table of contents comes the preface and introduction, the list of contributors and their affiliations is at the end of the last entry, along with an index. The index provides page numbers and bolds those numbers for the main entry of the term. The introduction is written by Altman and aims to give the lay reader an overview of behavioral economics. This reviewer did not find the information in the introduction to be easily approachable. Certainly a background in economics would be beneficial in using this reference work.

The entries are all about two pages long and contain “see also” referrals as well as references for further reading. One can read about calendar effect, dictator game, neuroeconomics, prisoner’s dilemma, trust game and more. It was interesting to read about “Buffet: All-You-Can-Eat Behavior.” Understanding this behavior can help public policy makers combat obesity. There are entries that discuss historical and contemporary people such as; Herbert Simon, a major contributor to the field of behavioral economics; John Maynard Keynes; and James March, an original proponent of behavioral theory. The entries are clearly written although some entries are quite technical for someone who may not know economics.

This is a traditional reference work that contains a list of terms and their definitions. It would useful for those just starting out in the field for background information. There is an alternative online encyclopedia at www.behavioraleconomics.com. The site was founded by Alain Samson, a scholar in the field of behavioral economics as well as a business consultant. The mini-encyclopedia included on this site contains a selection of terms related to the topic but is not nearly as comprehensive as the resource being reviewed here. However, it is a good resource for those libraries that may not be able to afford to purchase the print.—Stacey Marien, Acquisitions Librarian, American University, Washington, DC