Models Of Bounded Rationality Empirically Grounded Economic Reason
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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.
Models Of Bounded Rationality Empirically Grounded Economic Reason
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Author : Herbert Alexander Simon
language : en
Publisher: MIT Press
Release Date : 1997
Models Of Bounded Rationality Empirically Grounded Economic Reason written by Herbert Alexander Simon 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 with Decision making categories.
Offering alternative models based on such concepts as satisficing (acceptance of viable choices that may not be the undiscoverable optimum) and bouded rationality (the limited extent to which rational calculation can direct human behaviour), Simon shows why more empirical research based on experiments and direct observation, rather than just statistical analysis of economic aggregates, is needed.
Models Of Bounded Rationality
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Author : Herbert Alexander Simon
language : en
Publisher:
Release Date : 1983
Models Of Bounded Rationality written by Herbert Alexander Simon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with Decision making categories.
Models Of Bounded Rationality
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Author : Herbert A. Simon
language : en
Publisher:
Release Date : 1982
Models Of Bounded Rationality written by Herbert A. Simon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with categories.
Models Of Bounded Rationality And Mechanism Design
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Author : Jacob Glazer
language : en
Publisher: World Scientific Publishing Company
Release Date : 2016-08-22
Models Of Bounded Rationality And Mechanism Design written by Jacob Glazer and has been published by World Scientific Publishing Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-08-22 with Business & Economics categories.
This book brings together the authors' joint papers from over a period of more than twenty years. The collection includes seven papers, each of which presents a novel and rigorous model in Economic Theory. All of the models are within the domain of implementation and mechanism design theories. These theories attempt to explain how incentive schemes and organizations can be designed with the goal of inducing agents to behave according to the designer's (principal's) objectives. Most of the literature assumes that agents are fully rational. In contrast, the authors inject into each model an element which conflicts with the standard notion of full rationality, demonstrating how such elements can dramatically change the mechanism design problem. Although all of the models presented in this volume touch on mechanism design issues, it is the formal modeling of bounded rationality that the authors are most interested in. A model of bounded rationality signifies a model that contains a procedural element of reasoning that is not consistent with full rationality. Rather than looking for a canonical model of bounded rationality, the articles introduce a variety of modeling devices that will capture procedural elements not previously considered, and which alter the analysis of the model. The book is a journey into the modeling of bounded rationality. It is a collection of modeling ideas rather than a general alternative theory of implementation.
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 of the book, goes through some basic de?nitions and identi?es themes.
Irrationally Rational
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Author : Viswanathan Raghunathan
language : en
Publisher: Penguin Random House India Private Limited
Release Date : 2022-04-30
Irrationally Rational written by Viswanathan Raghunathan and has been published by Penguin Random House India Private Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-04-30 with Business & Economics categories.
You and your friend each have flights to catch at 8 p.m. and your destination cities are different. You decide to share a cab, but get caught in a rare traffic jam lasting several hours. You end up at the airport around midnight, and surely enough, both of you miss your flights. All quantifiable consequences of missing the flights-cost of tickets cancellation, paying for a new ticket, taking a cab back to the city, overnight stay, taking a cab back to the airport next morning, etc.-are expectedly identical for both. Now suppose the airline assistant tells you, 'Sorry, your flight left as scheduled at 8 p.m. sharp.' But your friend is told, 'Oh, how very unfortunate. Your flight was almost four hours late and only just departed!' Who feels the greater disappointment? You or your friend? Neoclassical economics tells us that because both individuals are assumed rational, their regret levels ought to be identical since their economic consequences are identical. Behavioural economists, however, combine psychology with economics, and focus on how real people, with their cognitive biases, actually behave. The friend who just missed the flight does indeed experience greater disappointment than the one who missed the flight by a margin of four hours. Does that make one or the other irrational? Irrationally Rational takes you through the journey of such rationality-irrationality arguments, showing why economics shorn of psychology may be incomplete. It is the first book of its kind, collating the works of ten Nobel Laureates largely responsible for the rise of behavioural economics, that makes understanding behavioural economics more fun and accessible.
Bounded Rationality
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Author : Sanjit Dhami
language : en
Publisher: MIT Press
Release Date : 2022-07-12
Bounded Rationality written by Sanjit Dhami and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-12 with Business & Economics categories.
Two leaders in the field explore the foundations of bounded rationality and its effects on choices by individuals, firms, and the government. Bounded rationality recognizes that human behavior departs from the perfect rationality assumed by neoclassical economics. In this book, Sanjit Dhami and Cass R. Sunstein explore the foundations of bounded rationality and consider the implications of this approach for public policy and law, in particular for questions about choice, welfare, and freedom. The authors, both recognized as experts in the field, cover a wide range of empirical findings and assess theoretical work that attempts to explain those findings. Their presentation is comprehensive, coherent, and lucid, with even the most technical material explained accessibly. They not only offer observations and commentary on the existing literature but also explore new insights, ideas, and connections. After examining the traditional neoclassical framework, which they refer to as the Bayesian rationality approach (BRA), and its empirical issues, Dhami and Sunstein offer a detailed account of bounded rationality and how it can be incorporated into the social and behavioral sciences. They also discuss a set of models of heuristics-based choice and the philosophical foundations of behavioral economics. Finally, they examine libertarian paternalism and its strategies of “nudges.”
Handbook Of Research On Environmental Taxation
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Author : Janet E. Milne
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-01-01
Handbook Of Research On Environmental Taxation written by Janet E. Milne and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.
ÔIngeniously organized in a life cycle format, the Handbook covers environmental taxation concepts, design, acceptance, implementation, and impact. The universal themes discussed in each area will appeal to a broad range of readers.Õ Ð Larry Kreiser, Cleveland State University, US ÔThis book is a smart and useful readerÕs guide providing analytical tools for a full comprehension of environmental taxes, with an interdisciplinary approach that looks at all the different phases of environmental taxation: from the design to the implementation, the political acceptance and the impact on the economy. The authorsÕ effort is very successful in endowing academicians, policy makers and the general public with an excellent proof of the effectiveness of environmental taxes and green tax reforms.Õ Ð Alberto Majocchi, University of Pavia, Italy ÔPutting the words ÒenvironmentÓ next to ÒtaxationÓ might not always be the flavour of the month, but no modern society can ignore the value of the natural environment and the need to maintain its good quality and no competitive economy can prosper without the necessary tax revenues to function. Environmental taxation offers the prospect of moving towards a more resource-efficient economy, where preference is given to tax more what we burn, less what we earn. I welcome this contribution to the literature.Õ Ð Commissioner Connie Hedegaard, European Commission ÔThe Milne and Andersen volume provides a splendid treatment of environmental taxation that encompasses the basic conceptual issues, problems of tax design and implementation, and several insightful case studies that show how environmental taxes actually work in practice. It is the best overall treatment of environmental taxation available: comprehensive, rigorous, and readable.Õ Ð Wallace Oates, University of Maryland, US The Handbook of Research on Environmental Taxation captures the state of the art of research on environmental taxation. Written by 36 specialists in environmental taxation from 16 countries, it takes an interdisciplinary and international approach, focusing on issues that are universal to using taxation to achieve environmental goals. The Handbook explores the conceptual foundations of environmental taxation, essential elements for designing environmental tax measures, factors that influence the acceptance of environmental taxation, the variety of ways to implement environmental taxes, their environmental and economic impact and, finally, the larger question of the role of taxation among other policy approaches to environmental protection. Intermixing theory with case studies, the Handbook offers readers lessons that can be applied around the world. It identifies key bodies of research for people who are already working in the field or entering the field and highlights issues that call for more research in the future. With systematic analysis of key issues in environmental taxation, this book will appeal to researchers, governments, think tanks, NGOs, and academics in law, economics, political science and public finance, as well as students specializing in environmental taxation and other market-based instruments.
Motivationally Intelligent Leadership Emerging Research And Opportunities
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Author : Brown Sr., Michael A.
language : en
Publisher: IGI Global
Release Date : 2017-08-10
Motivationally Intelligent Leadership Emerging Research And Opportunities written by Brown Sr., Michael A. and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-10 with Business & Economics categories.
Emotional intelligence serves as a valuable tool and knowledge base in the workplace. By creating empathic and trusting relationships, business environments can be not only more productive, but also positive and engaging. Motivationally Intelligent Leadership: Emerging Research and Opportunities is a valuable reference source that examines the necessary leadership traits to create positive partnerships and work ethic in business environments. Highlighting pertinent topics such as engaged interaction, team communication, and work motivation, this book is ideally designed for managers, professionals, researchers, students, and practitioners interested in the role of emotional intelligence in business leadership.