Smart Economic Decision Making In A Complex World

Author : Morris Altman
Publisher : Academic Press
Page : 300 pages
File Size : 41,7 Mb
Release : 2020-06-09
Category : Business & Economics
ISBN : 9780128114612

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Smart Economic Decision-Making in a Complex World by Morris Altman Pdf

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

Author : Anonim
Publisher : Unknown
Page : 8 pages
File Size : 50,7 Mb
Release : 2018
Category : Decision making
ISBN : OCLC:1078366397

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Economics for Business by Anonim Pdf

Author : William F. Samuelson,Stephen G. Marks
Publisher : Wiley
Page : 0 pages
File Size : 48,9 Mb
Release : 2005-12-16
Category : Business & Economics
ISBN : 047166362X

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Managerial Economics by William F. Samuelson,Stephen G. Marks Pdf

The right tools to guide real decisions When you're climbing a mountain, you have to carefully consider every step if you want to reach your goal. You need to know how your tools will actually perform on the mountain. It also helps to have a trusted guide who knows the way. The same holds true in today's highly competitive, global business environments. The decisions managers make are more complex and critical than ever before. You need to understand how to use economic analysis techniques to make real business decisions. When it comes to making real-life decisions based on sound economic analysis, there is no better guide than Samuelson and & Marks's Managerial Economics, 5th Edition. Featuring many detailed, real-world examples, as well as strong coverage of decision making under uncertainty, game theory, and international topics, this practical text equips you with the right tools you need to make smart decisions. New in the Fifth Edition * Updated and revised chapters on making decisions under uncertainty (Chapters 8 and 9). * New discussions of behavioral economics, including such issues as bounded rationality, sunk-cost fallacies, decision-making heuristics and biases, and the winner's curse. * Updated and expanded coverage of corporate incentives and governance. * Incorporates new developments in the areas of technological change, network economies, and internet economics. * Updated applications and revised end-of-chapter problems.

Author : Ivan K. Cohen
Publisher : Kogan Page Publishers
Page : 360 pages
File Size : 51,8 Mb
Release : 2015-11-03
Category : Business & Economics
ISBN : 9780749470203

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Economics for Business by Ivan K. Cohen Pdf

Economics for Business enables the reader to develop a clear understanding of the economic environment in which business takes place. This comprehensive book covers: the process of globalization and its implications for business; the role of the market and supply and demand; the impact of demand on branding and brand loyalty; and pricing strategies under various market structures. With specific business content integrated throughout and a global perspective on the current world of business, taking into account the financial crisis and its aftermath, Economics for Business is a useful introduction to economics for business students, a streamlined and comprehensive alternative to large undergraduate economics textbooks, and a valuable resource for managers and executives who need to understand the basics of economic concepts to grow their business. Online supporting resources for this book include bonus chapters on shareholders, trading blocs and skills groupings, a glossary, history of economics and an instructor's manual.

Author : Morris Altman
Publisher : Edward Elgar Publishing
Page : 616 pages
File Size : 41,7 Mb
Release : 2017-05-26
Category : Electronic
ISBN : 9781782549598

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Handbook of Behavioural Economics and Smart Decision-Making by Morris Altman Pdf

This Handbook is a unique and original contribution of over thirty chapters on behavioural economics, examining and addressing an important stream of research where the starting assumption is that decision-makers are for the most part relatively smart or rational. This particular approach is in contrast to a theme running through much contemporary work where individuals’ behaviour is deemed irrational, biased, and error-prone, often due to how people are hardwired. In the smart people approach, where errors or biases occur and when social dilemmas arise, more often than not, improving the decision-making environment can repair these problems without hijacking or manipulating the preferences of decision-makers. This book covers a wide-range of themes from micro to macro, including various sub-disciplines within economics such as economic psychology, heuristics, fast and slow-thinking, neuroeconomics, experiments, the capabilities approach, institutional economics, methodology, nudging, ethics, and public policy.

Author : Pierre Massotte,Patrick Corsi
Publisher : John Wiley & Sons
Page : 376 pages
File Size : 51,6 Mb
Release : 2017-07-06
Category : Business & Economics
ISBN : 9781119368694

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Smart Decisions in Complex Systems by Pierre Massotte,Patrick Corsi Pdf

Faced with ever-increasing complexity on a daily basis, the decision-makers of today are struggling to find the appropriate models, methods and tools to face the issues arising in complex systems across all levels of global operations. Having, in the past, resorted to outdated approaches which limit problem-solving to linear world views, we must now capitalize on complexities in order to succeed and progress in our society. This book provides a guide to harnessing the wealth inherent to complex systems. It organizes the transition to complex decision-making in all business spheres while providing many examples in various application domains. The authors offer fresh developments for understanding and mastering the global “uberization” of the economy, the post-modern management of computer-assisted production and the rise of cognitive robotics science applications.

Author : Thomas N. Martin
Publisher : Palgrave Macmillan
Page : 185 pages
File Size : 49,7 Mb
Release : 2017-01-19
Category : Business & Economics
ISBN : 1349572535

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Smart Decisions by Thomas N. Martin Pdf

Today's world is complex and getting more so each day. Huge multinational corporations, international crisis and fast breaking events require most people to make decisions on a daily basis without the tools to understand the long term impact that today's decision might create. Because most people have never really been trained in how to make important complex decisions most people rely on experience, and 'gut reaction' which is okay for many decisions, but not okay for decision that will have meaningful impact on organizations and individual. Decision makers need to develop the art and science of strategic decision making. Here, Professor Thomas Martin explains the need for decision makers to modify their thinking about how they deal with acquiring and analyzing information in each of the decision-making process steps. This approach requiring thinking modification will lengthen the process, make it more complex, and to some more arduous, but the comprehensiveness of the new thinking approach should lead to improved and more effective decision making. In this book, Dr. Martin presents a thinking modification framework that asserts that in the decision-making process, there are three situational states — a current state, future state, and a transitional state that one must deliberate in finding a solution. For each of these situational states, Martin develops an identical five-step process to determine the best decision to make. The steps of this process include: • Change-Needing Situational Analysis • Challenge Framing & Causal Analysis • Generating Solution Ideas • Choosing a Solution Set • Implementation and Aftermath Planning This book will appeal to decision makers, leaders, and students of management who want a specific framework that details the process behind making strategic, well-informed decisions.

Author : Donald Sull,Kathleen M. Eisenhardt
Publisher : Houghton Mifflin Harcourt
Page : 293 pages
File Size : 41,7 Mb
Release : 2015
Category : Business & Economics
ISBN : 9780544409903

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Simple Rules by Donald Sull,Kathleen M. Eisenhardt Pdf

Outlines an approach to high-performance problem-solving and decision-making that draws on insights from survival guides, pop culture and other sources. Co-written by the award-winning author of The Upside of Turbulence. 75,000 first printing.

Author : Morris Altman
Publisher : Bloomsbury Publishing USA
Page : 532 pages
File Size : 47,8 Mb
Release : 2015-06-23
Category : Business & Economics
ISBN : 9781440828164

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Real-World Decision Making by Morris Altman Pdf

The first and only encyclopedia to focus on the economic and financial behaviors of consumers, investors, and organizations, including an exploration of how people make good—and bad—economic decisions. Traditional economic theories speculate how and when people should spend money. But consumers don't always behave as expected and often adopt strategies that might appear unorthodox yet are, at times, more effective than the rule prescribed by conventional wisdom. This groundbreaking text examines the ways in which people make financial decisions, whether it is because they are smart but atypical in their choices ... or just irrational decision makers. A leading authority on behavioral economics, Morris Altman and more than 150 expert contributors delve into key concepts in behavioral economics, economic psychology, behavioral finance, neuroeconomics, experimental economics, and institutional economics to help inform economic models based on reality, not theory. Through 250 informative entries, the book explores various aspects of the subject including decision making, economic analysis, and public policy. In addition to introducing concepts to readers new to the subject, the book sheds light on more advanced financial topics in a manner that is objective, comprehensive, and accessible.

Author : John E. Silvia
Publisher : John Wiley & Sons
Page : 400 pages
File Size : 48,6 Mb
Release : 2011-08-09
Category : Business & Economics
ISBN : 9780470920510

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Dynamic Economic Decision Making by John E. Silvia Pdf

A comprehensive analysis of the macroeconomic and financial forces altering the economic landscape Financial decision-making requires one to anticipate how their decision will not only affect their business, but also the economic environment. Unfortunately, all too often, both private and public sector decision-makers view their decisions as one-off responses and fail to see their decisions within the context of an evolving decision-making framework. In Decision-Making in a Dynamic Economic Setting, John Silvia, Chief Economist of Wells Fargo and one of the top 5 economic forecasters according to Bloomberg News and USA Today, skillfully puts this discipline in perspective. Details realistic, decision-making approaches and applications under a broad set of economic scenarios Analyzes monetary policy and addresses the impact of financial regulations Examines business cycles and how to identify economic trends, how to deal with uncertainty and manage risk, the building blocks of growth, and strategies for innovation Decision-Making in a Dynamic Economic Setting details the real-world application of economic principles and financial strategy in making better business decisions.

Author : Mervyn King,John Kay
Publisher : Hachette UK
Page : 465 pages
File Size : 41,6 Mb
Release : 2020-03-05
Category : Business & Economics
ISBN : 9781408712580

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Radical Uncertainty by Mervyn King,John Kay Pdf

'A brilliant new book' Daily Telegraph 'Well written . . . and often entertaining' The Times 'A sparkling analysis' Prospect When uncertainty is all around us, and the facts are not clear, how can we make good decisions? We do not know what the future will hold, particularly in the midst of a crisis, but we must make decisions anyway. We regularly crave certainties which cannot exist and invent knowledge we cannot have, forgetting that humans are successful because we have adapted to an environment that we understand only imperfectly. Throughout history we have developed a variety of ways of coping with the radical uncertainty that defines our lives. This incisive and eye-opening book draws on biography, history, mathematics, economics and philosophy to highlight the most successful - and most short-sighted - methods of dealing with an unknowable future. Ultimately, the authors argue, the prevalent method of our age falls short, giving us a false understanding of our power to make predictions, leading to many of the problems we experience today. Tightly argued, provocative and written with wit and flair, Radical Uncertainty is at once an exploration of the limits of numbers and a celebration of human instinct and wisdom.

Author : Peter Verhezen
Publisher : World Scientific
Page : 398 pages
File Size : 48,7 Mb
Release : 2023-03-07
Category : Computers
ISBN : 9789811268076

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Making Wise Decisions In A Smart World: Responsible Leadership In An Era Of Artificial Intelligence (Student Edition) by Peter Verhezen Pdf

Good and smart decisions should be distinguished from wise decision-making — especially in the age of artificial intelligence (AI) where algorithms are increasingly used to automate business processes or to augment the accuracy and speed of decisions. This book argues why specific forms of intelligence as well as consciousness and enhanced conscience are crucial to make wise decisions — with consciousness to be clearly distinguished from intelligence. It also addresses why machine learning and smart computers (AI) are plausibly able to make 'smart' (and thus to a certain extent 'intelligent') decisions but definitely unable to help us to become wiser. In essence, optimizing a desired output in a business context will require a balanced approach with cognitive awareness and ethical reflection — synthesizing intuitive and algorithmic thinking — encompassing short-term profit and longer-term envisioning, and aiming to optimize created and captured value for shareholders while taking the concerns of those who have a real stake in the organization seriously. If business is about creating and sharing value in a future that is both 'digital' and 'relational', then innovative technologies like AI will play an increasingly important role. Consequently, mindful executives and their responsible boards therefore need to acknowledge the limitations of AI in business — especially when the uncertain future is estimated to be rather volatile or ambiguous than stable.

Author : Michael G. Rukstad
Publisher : Unknown
Page : 620 pages
File Size : 53,7 Mb
Release : 1986
Category : Decision making
ISBN : UCSD:31822003446465

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Macroeconomic Decision Making in the World Economy by Michael G. Rukstad Pdf

Author : Thomas N. Martin
Publisher : Unknown
Page : 185 pages
File Size : 44,8 Mb
Release : 2016
Category : Decision making
ISBN : 1137536993

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Smart Decisions by Thomas N. Martin Pdf

Author : Sisay Asefa
Publisher : Iowa State Press
Page : 140 pages
File Size : 41,7 Mb
Release : 1985
Category : Economic policy
ISBN : UCAL:B4245567

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Economic Decision Making by Sisay Asefa Pdf