About Division 9
Economic psychology involves the study of a specific category of behavior, namely economic behavior. It comprises such activities as: running a business (entrepreneurship), investing (behavioral finance), buying (consumer behavior), paying taxes (fiscal psychology), saving, etc. Psychologists who study such activities use the term economic psychology, however, it is worth noticing that economists dealing with similar issues prefer the term behavioral economics. Economic psychology uses psychological theories and methods and, in this sense, it is a branch of a broader field of applied psychology. Researchers dealing with these problems founded in 1982 International Association for Research in Economic Psychology (IAREP). Its main activity includes organizing annual colloquium, which is typically held somewhere in Europe, although there are exceptions, and, for example, in 2003 it was held in Christchurch (New Zealand). It also sponsors the Journal of Economic Psychology (its editors are Gerrit Antonides & Daniel Read), which covers all the main topics of economic psychology.
Several books on economic psychology have been published recently.
The Cambridge Handbook on Psychology an Economic Behaviour edited by Alan Lewis in 2007. The book covers such topics as methods in economic psychology, behavioral finance, saving, consumer behavior, tax evasion, corporate social responsibility, neuroeconomics, etc.
In 2006 Morris Altman edited the Handbook of Contemporary Behavioral Economics which introduces several themes from both behavioral economics and economic psychology.
An interesting and inspiring sample of papers in economic psychology can be found in the book Social Psychology and Economics edited by David de Cremer, Marcel Zeelenberg and J. Keith Murningham, published in 2006.
An exciting example of how the knowledge from behavioral finance can be used in practice is the monograph by James Montier, published in 2007. The title of this book is Behavioural investing: A practitioner’s guide to applying behavioural finance.
More systematic book on behavioral finance was published earlier (2001) by Karl-Erik Warneryd. Its title is Stock-market psychology: How people value and trade stocks.