Bounded Rationality And Public Policy
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Bounded Rationality And Public Policy
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Author : Alistair Munro
language : en
Publisher: Springer
Release Date : 2009-06-23
Bounded Rationality And Public Policy written by Alistair Munro and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-23 with Business & Economics categories.
This book is about bounded rationality and public policy. It is written from the p- spective of someone trained in public economics who has encountered the enormous literature on experiments in decision-making and wonders what implications it has for the normative aspects of public policy. Though there are a few new results or models, to a large degree the book is synthetic in tone, bringing together disparate literatures and seeking some accommodation between them. It has had a long genesis. It began with a draft of a few chapters in 2000, but has expanded in scope and size as the literature on behavioural economics has grown. At some point I realised that the geometric growth of behavioural - search and the arithmetic growth of my writing were inconsistent with an am- tion to be exhaustive. As such therefore I have concentrated on particular areas of behavioural economics and bounded rationality. The resulting book is laid out as follows: Chapter 1 provides an overview of the rest of the book, goes through some basic de?nitions and identi?es themes.
Bounded Rationality And Public Policy
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Author : Alistair Munro
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-06-10
Bounded Rationality And Public Policy written by Alistair Munro and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-10 with Business & Economics categories.
This book is about bounded rationality and public policy. It is written from the p- spective of someone trained in public economics who has encountered the enormous literature on experiments in decision-making and wonders what implications it has for the normative aspects of public policy. Though there are a few new results or models, to a large degree the book is synthetic in tone, bringing together disparate literatures and seeking some accommodation between them. It has had a long genesis. It began with a draft of a few chapters in 2000, but has expanded in scope and size as the literature on behavioural economics has grown. At some point I realised that the geometric growth of behavioural - search and the arithmetic growth of my writing were inconsistent with an am- tion to be exhaustive. As such therefore I have concentrated on particular areas of behavioural economics and bounded rationality. The resulting book is laid out as follows: Chapter 1 provides an overview of the rest ofthe book, goes through some basic de?nitions and identi?es themes.
Bounded Rationality And Policy Diffusion
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Author : Kurt Weyland
language : en
Publisher: Princeton University Press
Release Date : 2009-02-09
Bounded Rationality And Policy Diffusion written by Kurt Weyland and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-02-09 with Political Science categories.
Why do very different countries often emulate the same policy model? Two years after Ronald Reagan's income-tax simplification of 1986, Brazil adopted a similar reform even though it threatened to exacerbate income disparity and jeopardize state revenues. And Chile's pension privatization of the early 1980s has spread throughout Latin America and beyond even though many poor countries that have privatized their social security systems, including Bolivia and El Salvador, lack some of the preconditions necessary to do so successfully. In a major step beyond conventional rational-choice accounts of policy decision-making, this book demonstrates that bounded--not full--rationality drives the spread of innovations across countries. When seeking solutions to domestic problems, decision-makers often consider foreign models, sometimes promoted by development institutions like the World Bank. But, as Kurt Weyland argues, policymakers apply inferential shortcuts at the risk of distortions and biases. Through an in-depth analysis of pension and health reform in Bolivia, Brazil, Costa Rica, El Salvador, and Peru, Weyland demonstrates that decision-makers are captivated by neat, bold, cognitively available models. And rather than thoroughly assessing the costs and benefits of external models, they draw excessively firm conclusions from limited data and overextrapolate from spurts of success or failure. Indications of initial success can thus trigger an upsurge of policy diffusion.
The Social Construction Of Rationality
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Author : Onno Bouwmeester
language : en
Publisher: Routledge
Release Date : 2017-03-16
The Social Construction Of Rationality written by Onno Bouwmeester and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-16 with Business & Economics categories.
There are many different forms of rationality. In current economic discourse the main focus is on instrumental rationality and optimizing, while organization scholars, behavioural economists and policy scientists focus more on bounded rationality and satisficing. The interplay with value rationality or expressive rationality is mainly discussed in philosophy and sociology, but never in an empirical way. This book shows that not one, but three different forms of rationality (subjective, social and instrumental) determine the final outcomes of strategic decisions executed by major organizations. Based on an argumentation analysis of six high-profile public debates, this book adds nuance to the concept of bounded rationality. The chapters show how it is socially constructed, and thus dependent on shared beliefs or knowledge, institutional context and personal interests. Three double case studies investigating the three rationalities illustrate how decision makers and stakeholders discuss the appropriateness of these rationalities for making decisions in different practice contexts. The first touches more on personal concerns, like wearing a niqab or looking at obscene art exposed in a public environment; the second investigates debates on improving the rights and position of specific minorities; and the third is based on the agreement on instrumental reasons for two kinds of investments, but the cost arguments are regarded less relevant when social norms or personal interests are violated. The Social Construction of Rationality is for those who study political economy, economic psychology and public policy, as well as economic theory and philosophy.
Bounded Rationality
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Author : Gerd Gigerenzer
language : en
Publisher: MIT Press
Release Date : 2002-07-26
Bounded Rationality written by Gerd Gigerenzer and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-07-26 with Business & Economics categories.
In a complex and uncertain world, humans and animals make decisions under the constraints of limited knowledge, resources, and time. Yet models of rational decision making in economics, cognitive science, biology, and other fields largely ignore these real constraints and instead assume agents with perfect information and unlimited time. About forty years ago, Herbert Simon challenged this view with his notion of "bounded rationality." Today, bounded rationality has become a fashionable term used for disparate views of reasoning. This book promotes bounded rationality as the key to understanding how real people make decisions. Using the concept of an "adaptive toolbox," a repertoire of fast and frugal rules for decision making under uncertainty, it attempts to impose more order and coherence on the idea of bounded rationality. The contributors view bounded rationality neither as optimization under constraints nor as the study of people's reasoning fallacies. The strategies in the adaptive toolbox dispense with optimization and, for the most part, with calculations of probabilities and utilities. The book extends the concept of bounded rationality from cognitive tools to emotions; it analyzes social norms, imitation, and other cultural tools as rational strategies; and it shows how smart heuristics can exploit the structure of environments.
Understanding Public Policy
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Author : Paul Cairney
language : en
Publisher: Bloomsbury Publishing
Release Date : 2019-11-08
Understanding Public Policy written by Paul Cairney and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-11-08 with Political Science categories.
The fully revised second edition of this textbook offers a comprehensive introduction to theories of public policy and policymaking. The policy process is complex: it contains hundreds of people and organisations from various levels and types of government, from agencies, quasi- and non-governmental organisations, interest groups and the private and voluntary sectors. This book sets out the major concepts and theories that are vital for making sense of the complexity of public policy, and explores how to combine their insights when seeking to explain the policy process. While a wide range of topics are covered – from multi-level governance and punctuated equilibrium theory to 'Multiple Streams' analysis and feminist institutionalism – this engaging text draws out the common themes among the variety of studies considered and tackles three key questions: what is the story of each theory (or multiple theories); what does policy theory tell us about issues like 'evidence based policymaking'; and how 'universal' are policy theories designed in the Global North? This book is the perfect companion for undergraduate and postgraduate students studying public policy, whether focussed on theory, analysis or the policy process, and it is essential reading for all those on MPP or MPM programmes. New to this Edition: - New sections on power, feminist institutionalism, the institutional analysis and development framework, the narrative policy framework, social construction and policy design - A consideration of policy studies in relation to the Global South in an updated concluding chapter - More coverage of policy formulation and tools, the psychology of policymaking and complexity theory - Engaging discussions of punctuated equilibrium, the advocacy coalition framework and multiple streams analysis
Models Of Bounded Rationality
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Author : Univ Of Chicago
language : en
Publisher: Mit Press
Release Date : 1997-07
Models Of Bounded Rationality written by Univ Of Chicago and has been published by Mit Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-07 with Business & Economics categories.
Offering alternative models based on such concepts as satisficing(acceptance of viable choices that may not be the undiscoverableoptimum) and bounded rationality (the limited extent to which rationalcalculation can direct human behavior), Simon shows concretely whymore empirical research based on experiments and direct observation, rather than just statistical analysis of economic aggregates, isneeded.
Contemporary Approaches To Public Policy
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Author : B. Guy Peters
language : en
Publisher: Springer
Release Date : 2016-05-25
Contemporary Approaches To Public Policy written by B. Guy Peters and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-25 with Political Science categories.
This book considers a range of contemporary approaches to public policy studies. These approaches are based on a number of theoretical perspectives on decision-making, as well as alternative perspectives on policy instruments and implementation. The range of approaches covered in the volume includes punctuated equilibrium models, the advocacy-coalition framework, multiple streams approaches, institutional analyses, constructivist approaches, behavioural models, and the use of instruments as an approach to public policy. The volume concludes with a discussion of fundamental issues of democracy in public policy.
Bounded Rationality And Politics
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Author : Jonathan Bendor
language : en
Publisher: Univ of California Press
Release Date : 2010-06-02
Bounded Rationality And Politics written by Jonathan Bendor and has been published by Univ of California Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-06-02 with Political Science categories.
In Bounded Rationality and Politics, Jonathan Bendor considers two schools of behavioral economics—the first guided by Tversky and Kahneman’s work on heuristics and biases, which focuses on the mistakes people make in judgment and choice; the second as described by Gerd Gigerenzer’s program on fast and frugal heuristics, which emphasizes the effectiveness of simple rules of thumb. Finding each of these radically incomplete, Bendor’s illuminating analysis proposes Herbert Simon’s pathbreaking work on bounded rationality as a way to reconcile the inconsistencies between the two camps. Bendor shows that Simon’s theory turns on the interplay between the cognitive constraints of decision makers and the complexity of their tasks.
Politics And The Architecture Of Choice
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Author : Bryan D. Jones
language : en
Publisher: University of Chicago Press
Release Date : 2001-05
Politics And The Architecture Of Choice written by Bryan D. Jones and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-05 with Business & Economics categories.
Politics and the Architecture of Choice draws on work in political science, economics, cognitive science, and psychology to offer an innovative theory of how people and organizations adapt to change and why these adaptations don't always work. Our decision-making capabilities, Jones argues, are both rational and adaptive. But because our rationality is bounded and our adaptability limited, our actions are not based simply on objective information from our environments. Instead, we overemphasize some factors and neglect others, and our inherited limitations—such as short-term memory capacity—all act to affect our judgment. Jones shows how we compensate for and replicate these limitations in groups by linking the behavioral foundations of human nature to the operation of large-scale organizations in modern society. Situating his argument within the current debate over the rational choice model of human behavior, Jones argues that we should begin with rationality as a standard and then study the uniquely human ways in which we deviate from it.