Smart Economic Decision-Making in a Complex World

Erscheinungsjahr 2020
ISBN: 978-0-12-811461-2
Verlag: Elsevier Inc

Buch, Englisch, 302 Seiten, Format (B × H): 152 mm x 229 mm, Gewicht: 406 g

Smart Economic Decision-Making in a Complex World is a fresh and reality-based perspective on decision-making with significant implications for analysis, self-understanding and policy. The book examines the conditions under which smart people generate outcomes that improve their place of work, their household and society. Within this work, the curious reader will find interesting open questions on many fascinating areas of current economic debate, including, the role of realistic assumptions robust model building, understanding how and when non-neoclassical behavior is best practice, why the assumption of smart decision-makers is best to understand and explain our economies and societies, and under what conditions individuals can make the best possible choices for themselves and society at large.

Additional sections cover when and how efficiency is achieved, why inefficiencies can persist, when and how consumer welfare is maximized, and what benchmarks should be used to determine efficiency and rationality.

Zielgruppe

<p>Under(graduate) students in economics and beyond who are interested in decision-making, the process of decision-making, decision making environments, and how real people act in the real world should be interested in this book.</p>

Autoren/Hrsg.

Altman, Morris

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Wirtschaftstheorie, Wirtschaftsphilosophie
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Verhaltensökonomik
• Wirtschaftswissenschaften Betriebswirtschaft Management Entscheidungsfindung

Inhaltsverzeichnis

1. Introduction: Smart thinking in the real world of complexity2. The evolution of decision-making: Why institutions and capabilities matters3. How complexity affects decision-making4. Freedom of choice in a complex world5. Understanding rational inefficiency: A scientific basis for economic failure and success6. How consumers can achieve freedom of choice: When consumers are truly sovereign7. Inside the black box of the firm: Why choice, power and preferences matter for productivity and efficiency8. How smart people can be involuntarily employment when misguided policy dominates decision-making9. Why financial literacy matters for socio-economic wellbeing10. How labour markets really work

Über Autor(innen)

Altman, Morris
Morris Altman is Chair Professor of Behavioural and Institutional Economics and Co-operatives at the University of Dundee, United Kingdom, and former Inaugural Dean of Dundee University Business School. He has previously served as Dean at the University of Newcastle, Australia, Head of School at Victoria University of Wellington, New Zealand, and Head of Department at the University of Saskatchewan, Canada. Morris was a former visiting scholar at Cambridge, Canterbury, New Zealand, Cornell, Duke, Harvard, Hebrew, Stirling, and Stanford University. He has published more than 130 refereed articles and 20 books in behavioural economics, institutional economics, cooperative studies, governance, and sustainable development. Professor Altman is co-founder and Editor-in-Chief of the Review of Behavioural Economics and has held leadership roles in numerous international academic and professional organizations, including Association for Social Economics the Society for the Advancement of Behavioral Economics. He also served on research committees of the International Co-operative Alliance.