Smart Economic Decision Making In A Complex World
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Smart Economic Decision Making In A Complex World
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Author : Morris Altman
language : en
Publisher: Academic Press
Release Date : 2020-05-22
Smart Economic Decision Making In A Complex World written by Morris Altman and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-22 with Business & Economics categories.
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. - Makes the case for 'smart and rational' decision-making as a context-dependent rational process that is framed by socio-cultural environment and conditioned by institutional capacities - Explains how incorporation of the 'smart' decision-maker concept into economic thought improves our understanding of how, why and when people generate certain outcomes - Explores how economic efficiency can be achieved, individual preferences realized, and social welfare maximized through the use of 'smart and rational' approaches
The Paradox Of Choice
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Author : Barry Schwartz
language : en
Publisher: Harper Collins
Release Date : 2009-10-13
The Paradox Of Choice written by Barry Schwartz and has been published by Harper Collins this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-13 with Psychology categories.
Whether we're buying a pair of jeans, ordering a cup of coffee, selecting a long-distance carrier, applying to college, choosing a doctor, or setting up a 401(k), everyday decisions—both big and small—have become increasingly complex due to the overwhelming abundance of choice with which we are presented. As Americans, we assume that more choice means better options and greater satisfaction. But beware of excessive choice: choice overload can make you question the decisions you make before you even make them, it can set you up for unrealistically high expectations, and it can make you blame yourself for any and all failures. In the long run, this can lead to decision-making paralysis, anxiety, and perpetual stress. And, in a culture that tells us that there is no excuse for falling short of perfection when your options are limitless, too much choice can lead to clinical depression. In The Paradox of Choice, Barry Schwartz explains at what point choice—the hallmark of individual freedom and self-determination that we so cherish—becomes detrimental to our psychological and emotional well-being. In accessible, engaging, and anecdotal prose, Schwartz shows how the dramatic explosion in choice—from the mundane to the profound challenges of balancing career, family, and individual needs—has paradoxically become a problem instead of a solution. Schwartz also shows how our obsession with choice encourages us to seek that which makes us feel worse. By synthesizing current research in the social sciences, Schwartz makes the counter intuitive case that eliminating choices can greatly reduce the stress, anxiety, and busyness of our lives. He offers eleven practical steps on how to limit choices to a manageable number, have the discipline to focus on those that are important and ignore the rest, and ultimately derive greater satisfaction from the choices you have to make.
Elgar Encyclopedia Of Behavioural And Experimental Economics
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Author : Swee-Hoon Chuah
language : en
Publisher: Edward Elgar Publishing
Release Date : 2025-02-12
Elgar Encyclopedia Of Behavioural And Experimental Economics written by Swee-Hoon Chuah 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 2025-02-12 with Business & Economics categories.
This Encyclopedia presents a comprehensive account of the complementary forces of behavioural economics, a novel field combining psychological insights with analytical economic thinking and experimental economics.
Handbook Of Research Methods In Behavioural Economics
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Author : Morris Altman
language : en
Publisher: Edward Elgar Publishing
Release Date : 2023-03-02
Handbook Of Research Methods In Behavioural Economics written by Morris Altman 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 2023-03-02 with Business & Economics categories.
This comprehensive Handbook addresses a wide variety of methodological approaches adopted and developed by behavioural economists, exploring the implications of such innovations for analysis and policy.
Robots Automation And The Innovation Economy
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Author : Jon-Arild Johannessen
language : en
Publisher: Taylor & Francis
Release Date : 2024-12-30
Robots Automation And The Innovation Economy written by Jon-Arild Johannessen and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-12-30 with Business & Economics categories.
Cascades of new technologies and innovations are entering our lives so fast that it is difficult for us to adapt to one innovation before the next becomes embedded into our everyday lives. What happens when the changes brought by technology are so profound that they affect all aspects of our lives? This book explores the potential impact of artificial intelligence (AI) and intelligent robots on individuals, organizations and society, specifically examining the impact on jobs and workplaces in the future. It provides an understanding of how we can adapt to changes that appear like flocks of black swans. Five key areas are unpacked in the book: automation, AI, (the significance of AI technology), innovation, competence transformation, and the fact that the pace of change is so rapid that it outstrips our ability to adapt to consecutive changes. The main objective is to show how AI will change society and how we as individuals and society must adapt in order to survive what the author terms ‘robot shock’, together with its consequences and after-effects. It offers a greater understanding of resistance to change and how we need to adopt strategies for adapting to major changes. Each of the book’s six chapters also contains policy inputs, framed as propositions, that are intended specifically for decision-makers. The book concludes by offering possible strategies for overcoming the negative effects of ‘robot shock’. The book intends to send a message to leaders of institutions, decision-makers and anyone attempting to understand and explain how we – as a social system – can succeed in tackling the many major challenges and crises faced by humanity.
The Little Black Book Of Decision Making
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Author : Michael Nicholas
language : en
Publisher: John Wiley & Sons
Release Date : 2017-08-28
The Little Black Book Of Decision Making written by Michael Nicholas and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-28 with Business & Economics categories.
The secret to making the right call in an increasingly complex world The decisions we make every day – frequently automatic and incredibly fast – impact every area of our lives. The Little Black Book of Decision Making delves into the cognition behind decision making, guiding you through the different ways your mind approaches various scenarios. You'll learn to notice that decision making is a matter of balance between your rational side and your intuition – the trick is in honing your intuition to steer you down the right path. Pure reasoning cannot provide all of the answers, and relying solely on intuition could prove catastrophic in business. There must be a balance between the two, and the proportions may change with each situation. This book helps you quickly pinpoint the right mix of logic and 'gut feeling,' and use it to find the best possible solution. Balance logic and intuition in your decision making approach Avoid traps set by the mind's inherent bias Understand the cognitive process of decision making Sharpen your professional judgement in any situation Decision making is the primary difference between organisations that lead and those that struggle. The Little Black Book of Decision Making helps you uncover errors in thinking before they become errors in judgement.
A Fast And Frugal Finance
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Author : William P. Forbes
language : en
Publisher: Academic Press
Release Date : 2019-11-15
A Fast And Frugal Finance written by William P. Forbes and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-11-15 with Business & Economics categories.
A Fast and Frugal Finance: Bridging Contemporary Behavioural Finance and Ecological Rationality adds psychological reality to classical financial reasoning. It shows how financial professionals can reach better and quicker decisions using the 'fast and frugal' framework for decision-making, adding dramatically to time and outcome efficiency, while also retaining accuracy. The book provides the reader with an adaptive toolbox of heuristic tools and classification systems to aid real-world decisions. Throughout, financial applications are presented alongside real-world examples to help readers solve established problems in finance, including stock buying and selling decisions, when faced with not only risk but fundamental uncertainty. The book concludes by describing potential solutions to financial problems in the forefront of contemporary debates, and calls for taking psychological insights seriously. - Demonstrates how well-constructed 'fast and frugal' models can outperform standard models in time and outcome efficiency - Focuses on how financial decisions are made in reality, using heuristics, rather than how such decisions should be made - Discusses how cognition and the decision-making context interact in producing 'fast and frugal' choices that follow ecological rationality - Explores the development of decision-making trees in finance to aid in decision-making
Constructing A More Scientific Economics
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Author : Morris Altman
language : en
Publisher: Springer Nature
Release Date : 2022-05-17
Constructing A More Scientific Economics written by Morris Altman and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-05-17 with Business & Economics categories.
John Tomer was a leading intellectual figure in behavioural economics, making distinct contributions to the theory of the firm, social economy, choice theory, and government policy. His underlying methodology as an economist was to incorporate different disciplinary approaches to the subject at hand, whilst maintaining an underlying respect and understanding of how and why humans behave the way they do. This book brings together a collection of scholars celebrating John Tomer’s contributions to the field of economics. Covering key areas of his research, contributing authors discuss the latest research in behavioral economics, the human firm, climate change policy, sustainability, well-being, human capital, and human development. This volume, extending John Tomer’s more scientific perspective rooted in behavioural and institutional economics, should find an audience among both scholars and policy advocates. It can also enrich course delivery, providing students with alternative perspectives and approach to economic and socio-economic analysis.
Exploring Agentic Ai Pioneering The Next Frontier In Autonomous Decisionmaking And Machine Learning Applications
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Author : Kishore Challa
language : en
Publisher: SADGURU PUBLICATIONS
Release Date :
Exploring Agentic Ai Pioneering The Next Frontier In Autonomous Decisionmaking And Machine Learning Applications written by Kishore Challa and has been published by SADGURU PUBLICATIONS this book supported file pdf, txt, epub, kindle and other format this book has been release on with Computers categories.
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Foundations Of Microeconomics
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Author : Himadri Deshpande
language : en
Publisher: Educohack Press
Release Date : 2025-02-20
Foundations Of Microeconomics written by Himadri Deshpande and has been published by Educohack Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-02-20 with Business & Economics categories.
"Foundations of Microeconomics" is a comprehensive textbook designed to introduce readers to the foundational concepts, theories, and applications of microeconomic analysis. We cover a wide range of topics, starting with an introduction to microeconomics and its relevance in understanding individual economic decision-making. The book progresses to explore key concepts such as supply and demand, consumer behavior, production and costs, market structures like perfect competition, monopoly, and monopolistic competition, market failures, externalities, income distribution, inequality, international trade, and globalization. Each chapter provides a clear and accessible explanation using real-world examples, case studies, and practical applications. For instance, we delve into price elasticity, market equilibrium, and the effects of shifts in supply and demand. We explore utility theory, budget constraints, and consumer choice theory, demonstrating decision-making based on preferences and constraints. The book also covers advanced topics such as production functions, cost analysis, economies of scale, market power, and the role of government intervention. We discuss globalization's impact on economies, industries, and individuals, highlighting the benefits and challenges of international trade. Emphasizing critical thinking and analytical skills, each chapter includes review questions, exercises, and problem sets to reinforce learning and facilitate self-assessment. "Foundations of Microeconomics" equips students, educators, and anyone interested in economics with the knowledge and tools to analyze economic phenomena in today’s dynamic global economy.