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How Behavioral Economics Influences Management Decision Making

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How Behavioral Economics Influences Management Decision Making

How Behavioral Economics Influences Management Decision Making Book
Author : Kelly Monahan
Publisher : Academic Press
Release : 2018-08-02
ISBN : 0128135689
Language : En, Es, Fr & De

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Book Description :

How Behavioral Economics Influences Management Decision-Making: A New Paradigm critically reexamines the management function in 21st century workplaces. The book seeks to examine and explain the real-world behaviors of employees and acknowledge the human nature that binds us all together and how to appeal to these characteristics in order to help organizations prosper. It explores well-observed but rarely understood features of employee cognition and irrationality, challenging the dominant discourse and offering an alternative to gain greater competitive advantage in today's complex markets. It also provides an effective new framework on the best ways to develop relevant management skills as they pertain to hiring, performance management, change management, employee engagement, and goal setting. As the knowledge economy continues to grow, the social bonds within companies will prove to be a key differentiation to deliver on the next big idea. Developing productive decisions with staff in the talent-driven global economy increasingly requires the development of "intrinsic" meaning in work, a human-centered work-place culture, and human-focused working practices. This book tackles these topics in comprehensive and efficient detail. Provides a framework to simply and effectively apply behavioral principles in organizations of any size Focuses on agent motivations and behavior and how they directly impact talent management in the knowledge economy Highlights empirical studies, detailing the impact of heuristics on hiring, performance management, change management, employee engagement, and goal-setting decisions

Handbook of Behavioral Economics Foundations and Applications 1

Handbook of Behavioral Economics   Foundations and Applications 1 Book
Author : N.A
Publisher : Elsevier
Release : 2018-09-27
ISBN : 0444633898
Language : En, Es, Fr & De

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Book Description :

Handbook of Behavioral Economics: Foundations and Applications presents the concepts and tools of behavioral economics. Its authors are all economists who share a belief that the objective of behavioral economics is to enrich, rather than to destroy or replace, standard economics. They provide authoritative perspectives on the value to economic inquiry of insights gained from psychology. Specific chapters in this first volume cover reference-dependent preferences, asset markets, household finance, corporate finance, public economics, industrial organization, and structural behavioural economics. This Handbook provides authoritative summaries by experts in respective subfields regarding where behavioral economics has been; what it has so far accomplished; and its promise for the future. This taking-stock is just what Behavioral Economics needs at this stage of its so-far successful career. Helps academic and non-academic economists understand recent, rapid changes in theoretical and empirical advances within behavioral economics Designed for economists already convinced of the benefits of behavioral economics and mainstream economists who feel threatened by new developments in behavioral economics Written for those who wish to become quickly acquainted with behavioral economics

Belief Systems Religion and Behavioral Economics

Belief Systems  Religion  and Behavioral Economics Book
Author : Elizabeth A. Minton,Lynn R. Kahle
Publisher :
Release : 2013-12
ISBN : 9781606497043
Language : En, Es, Fr & De

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Book Description :

Religion is a topic that businesses often ignore, in spite of 70% of the world being religious. Whether the silence results from the taboo nature of the topic or the thought that religion is a separate domain from consumption and business, the scant attention cannot be denied. Many do not realize or simply resist the idea that religion is a key contributor to a consumer's core values, which then contribute to consumption decisions, voting practices, reaction to pro-social messages and public policy, as well as donating behavior. The field of behavioral economics discusses how various social and cognitive factors influence economic decision making, which encompasses consumer decision making in business and public policy. This field needs to incorporate religion as an influencer to economic decision making. To be able to manage a business effectively, or carry out public policy decisions, the influence of believe systems and religion must be taken into account. Thus, this book provides one of the first comprehensive investigations into the relation between religion and behavioral economics. It is relevant to current managers, anyone involved in the marketing, MBA students, and also upper-division undergraduate students. Each of these groups will benefit from a clear understanding of religious groups and how religion influences consumer decision making.

Real World Decision Making An Encyclopedia of Behavioral Economics

Real World Decision Making  An Encyclopedia of Behavioral Economics Book
Author : Morris Altman
Publisher : ABC-CLIO
Release : 2015-06-23
ISBN : 1440828164
Language : En, Es, Fr & De

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Book Description :

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. • Contains an informative introductory essay that familiarizes students with the various aspects of behavioral economics • Provides a list of additional readings for those interested in learning more about the topic • Includes cross-references in each entry to help readers make connections between related topics • Defines key terms that are likely to be unfamiliar to those without advance knowledge of the subject • Helps readers identify and study particular entry categories through accompanying Topic Finders

Production Management and Business Development

Production Management and Business Development Book
Author : Bohuslava Mihalčová,Petra Szaryszová,Lenka Štofová,Michal Pružinský,Barbora Gontkovičová
Publisher : CRC Press
Release : 2018-12-07
ISBN : 0429888368
Language : En, Es, Fr & De

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Book Description :

Trends in economic development rely on increasing human knowledge, which stimulate the development of new, sophisticated technologies. With their utilization production is raised and the intent is to decrease natural resources consumption and protect and save our life environment as much as we can. At the same time, increasing pressure is observed both from competition and customers. The way to be competitive is by improving manufacturing and services offered to the customer. These are the major challenges of contemporary enterprises. Organizations are improving their activities and management processes. This is necessary to manage the seemingly intensifying competitive markets successfully. Enterprises apply business-optimizing solutions to meet new challenges and conditions. This way ensuring effective development for long-term competitiveness in a global environment. This is necessary for the implementation of qualitative changes in the industrial policy. "Process Control and Production Management" (MTS 2018) is a collection of research papers from an international authorship. The authors present case studies and empirical research, which illustrates the progressive trends in business process management and the drive to increase enterprise sustainability development.

Applied Behavioral Economics Research and Trends

Applied Behavioral Economics Research and Trends Book
Author : Ianole, Rodica
Publisher : IGI Global
Release : 2016-12-12
ISBN : 1522518274
Language : En, Es, Fr & De

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Book Description :

Interdisciplinary factors in the modern business realm have significant impacts on economic agents within organizations. These behavioral influences affect multiple decision-making processes on both the individual and organizational levels. Applied Behavioral Economics Research and Trends provides a comprehensive examination of the social, psychological, and emotional factors in organizational behavior and economic decision-making and how these issues provide a deeper understanding of various economic behaviors. Highlighting relevant coverage across a range of topics, such as consumer behavior, inter-temporal choices, and self-employment, this book is ideally designed for managers, researchers, professionals, graduate students, and practitioners seeking scholarly material on the implications of behavioral economics across numerous industries.

Neuroeconomics and the Decision Making Process

Neuroeconomics and the Decision Making Process Book
Author : Christiansen, Bryan
Publisher : IGI Global
Release : 2016-03-17
ISBN : 1466699906
Language : En, Es, Fr & De

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Book Description :

Neuroeconomics has emerged as a field of study with the goal of understanding the human decision-making process and the mental consideration of multiple outcomes based on a selected action. In particular, neuroeconomics emphasizes how economic conditions can impact and influence the decision-making process and alternately, how human actions have the power to impact economic conditions. Neuroeconomics and the Decision-Making Process presents the latest research on the relationship between neuroscience, economics, and human decision-making, including theoretical foundations, real-world applications, and models for implementation. Taking a cross-disciplinary approach to neuroeconomic theory and study, this publication is an essential reference source for economists, psychologists, business professionals, and graduate-level students across disciplines.

Behavioral Operations Management

Behavioral Operations Management Book
Author : Christoph H. Loch,Yaozhong Wu
Publisher : Now Publishers Inc
Release : 2007
ISBN : 1601980949
Language : En, Es, Fr & De

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Book Description :

Behavioral Operations Management introduces the understanding of human behavior to the practice of operations management. It provides a set of methods and a structured area of study to analyze behavioral issues within the OM paradigm.

Behavioral Finance Psychology Decision Making and Markets

Behavioral Finance  Psychology  Decision Making  and Markets Book
Author : Lucy Ackert,Richard Deaves
Publisher : Cengage Learning
Release : 2009-09-23
ISBN : 1111781672
Language : En, Es, Fr & De

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Book Description :

Now you can offer your students a structured, applied approach to behavioral finance with the first academic text of its kind--Ackert/Deaves' BEHAVIORAL FINANCE: PSYCHOLOGY, DECISION MAKING, AND MARKETS. This comprehensive text--ideal for your behavioral finance elective-- links finance theory and practice to human behavior. The book begins by building upon the established, conventional principles of finance that students have already learned in their principles course. The authors then move into psychological principles of behavioral finance, including heuristics and biases, overconfidence, emotion and social forces. Students learn how human behavior influences the decisions of individual investors and professional finance practitioners, managers, and markets. Your students gain a strong understanding of how social forces impact people's choices. The book clearly explains what behavioral finance indicates about observed market outcomes as well as how psychological biases potentially impact the behavior of managers. Students learn the implications of behavioral finance on retirement, pensions, education, debiasing, and client management. This book is unique as it spends a significant amount of time examining how behavioral finance can be used effectively by practitioners today. The book's solid academic approach provides opportunities for students to utilize theory and complete applications in every chapter. A wide variety of end-of-chapter exercises, discussion questions, simulations and experiments reinforce the book's applied approach, while useful instructor supplements ensure you have the resources to clearly present theories of behavioral finance and their applications. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.

The Smarter Screen

The Smarter Screen Book
Author : Shlomo Benartzi
Publisher : Penguin
Release : 2015-10-06
ISBN : 0698194306
Language : En, Es, Fr & De

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Book Description :

A leading behavioral economist reveals the tools that will improve our decision making on screens Office workers spend the majority of their waking hours staring at screens. Unfortunately, few of us are aware of the visual biases and behavioral patterns that influence our thinking when we’re on our laptops, iPads, smartphones, or smartwatches. The sheer volume of information and choices available online, combined with the ease of tapping "buy," often make for poor decision making on screens. In The Smarter Screen, behavioral economist Shlomo Benartzi reveals a tool kit of interventions for the digital age. Using engaging reader exercises and provocative case studies, Benartzi shows how digital designs can influence our decision making on screens in all sorts of surprising ways. For example: • You’re more likely to add bacon to your pizza if you order online. • If you read this book on a screen, you’re less likely to remember its content. • You might buy an item just because it’s located in a screen hot spot, even if better options are available. • If you shop using a touch screen, you’ll probably overvalue the product you’re considering. • You’re more likely to remember a factoid like this one if it’s displayed in an ugly, difficult-to-read font. Drawing on the latest research on digital nudging, Benartzi reveals how we can create an online world that helps us think better, not worse. From the Hardcover edition.

Decision Making for the Environment

Decision Making for the Environment Book
Author : National Research Council,Division of Behavioral and Social Sciences and Education,Center for Economic, Governance, and International Studies,Committee on the Human Dimensions of Global Change,Panel on Social and Behavioral Science Research Priorities for Environmental Decision Making
Publisher : National Academies Press
Release : 2005-05-31
ISBN : 9780309165396
Language : En, Es, Fr & De

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Book Description :

With the growing number, complexity, and importance of environmental problems come demands to include a full range of intellectual disciplines and scholarly traditions to help define and eventually manage such problems more effectively. Decision Making for the Environment: Social and Behavioral Science Research Priorities is the result of a 2-year effort by 12 social and behavioral scientists, scholars, and practitioners. The report sets research priorities for the social and behavioral sciences as they relate to several different kinds of environmental problems.

The Oxford Handbook of Behavioral Economics and the Law

The Oxford Handbook of Behavioral Economics and the Law Book
Author : Eyal Zamir,Doron Teichman
Publisher : Oxford University Press
Release : 2014-09-16
ISBN : 0199397953
Language : En, Es, Fr & De

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Book Description :

The past twenty years have witnessed a surge in behavioral studies of law and law-related issues. These studies have challenged the application of the rational-choice model to legal analysis and introduced a more accurate and empirically grounded model of human behavior. This integration of economics, psychology, and law is breaking exciting new ground in legal theory and the social sciences, shedding a new light on age-old legal questions as well as cutting edge policy issues. The Oxford Handbook of Behavioral Economics and Law brings together leading scholars of law, psychology, and economics to provide an up-to-date and comprehensive analysis of this field of research, including its strengths and limitations as well as a forecast of its future development. Its 29 chapters organized in four parts. The first part provides a general overview of behavioral economics. The second part comprises four chapters introducing and criticizing the contribution of behavioral economics to legal theory. The third part discusses specific behavioral phenomena, their ramifications for legal policymaking, and their reflection in extant law. Finally, the fourth part analyzes the contribution of behavioral economics to fifteen legal spheres ranging from core doctrinal areas such as contracts, torts and property to areas such as taxation and antitrust policy.

Social Psychology and Economics

Social Psychology and Economics Book
Author : John Keith Murnighan
Publisher : Psychology Press
Release : 2006
ISBN : 0805857540
Language : En, Es, Fr & De

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Book Description :

This book combines chapters written by leading social psychologists and economists, illuminating the developing trends in explaining and understanding economic behavior in a social world. It provides insights from both fields, communicated by eloquent scholars, and demonstrates through recent research and theory how economic behaviors may be more effectively examined using a combination of both fields. Social Psychology and Economics comes at a particularly fitting time, as a psychological approach to economics has begun to flourish, and papers exploring the intersection of these two disciplines have appeared in peer-reviewed journals, opening a dynamic dialogue between previously separated fields. It addresses a variety of economic phenomena within a social context, such as scarcity and materialism, emphasizing the importance of integrating social psychology and economics. Social Psychology and Economics is arranged in seven parts that discuss: *an introduction to the topic; *preferences, utility, and choice; *emotions; *reciprocity, cooperation, and fairness; *social distance; *challenges to social psychology and economics; and *collaborative reflections and projections. The market for this book is students, researchers, and professionals in the disciplines of economics, psychology, business, and behavioral decision making. Graduate students and upper-level undergraduate students will consider it a useful supplemental text.

Handbook of Economic Psychology

Handbook of Economic Psychology Book
Author : W.F. Van Raaij,G.M. van Veldhoven,K.E. Wärneryd
Publisher : Springer Science & Business Media
Release : 2013-03-09
ISBN : 9401577919
Language : En, Es, Fr & De

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Book Description :

The idea to publish a Handbook of Economic Psychology came up as a natural consequence of a discussion concerning appropriate reading material for courses in economic psychology. The discussion took place a few years ago in the Department of Economic Psychology at Tilburg University, The Netherlands. It was noted that there was a surprising lack of collections of pertinent readings, to say nothing about the lack of textbooks in the English language. So the present editors, who had been involved in the discussion, decided to start working on a Handbook. The situation has changed quite a lot since then. There are now a number of books, internationally available in the English language, in economic psy chology or behavioral economics. The interest in this field of study is expanding quite impressively. The Journal of Economic Psychology is now (1988) in its ninth volume and many other journals are publishing articles in the field. The application of psychological theories and methods to economic prob lems or the study of economic experiences and behavior is variously referred to as economic psychology or behavioral economics. While in principle we do not want to overdo the differences between the two, we have a feeling that economic psychology has a slightly stronger flavor of psychology than behavioral economics which in its turn seems to be closer to economics. Psychologists tend to feel more at home in economic psychology, while economists seem to favor behavioral economics.

Behavioral Finance

Behavioral Finance Book
Author : H. Kent Baker,John R. Nofsinger
Publisher : John Wiley & Sons
Release : 2010-10-01
ISBN : 9780470769683
Language : En, Es, Fr & De

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Book Description :

A definitive guide to the growing field of behavioral finance This reliable resource provides a comprehensive view of behavioral finance and its psychological foundations, as well as its applications to finance. Comprising contributed chapters written by distinguished authors from some of the most influential firms and universities in the world, Behavioral Finance provides a synthesis of the most essential elements of this discipline, including psychological concepts and behavioral biases, the behavioral aspects of asset pricing, asset allocation, and market prices, as well as investor behavior, corporate managerial behavior, and social influences. Uses a structured approach to put behavioral finance in perspective Relies on recent research findings to provide guidance through the maze of theories and concepts Discusses the impact of sub-optimal financial decisions on the efficiency of capital markets, personal wealth, and the performance of corporations Behavioral finance has quickly become part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.

The Selten School of Behavioral Economics

The Selten School of Behavioral Economics Book
Author : Axel Ockenfels,Abdolkarim Sadrieh
Publisher : Springer Science & Business Media
Release : 2010-09-09
ISBN : 9783642139833
Language : En, Es, Fr & De

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Book Description :

Reinhard Selten, to date the only German Nobel Prize laureate in economics, celebrates his 80th birthday in 2010. While his contributions to game theory are well-known, the behavioral side of his scientific work has received less public exposure, even though he has been committed to experimental research during his entire career, publishing more experimental than theoretical papers in top-tier journals. This Festschrift is dedicated to Reinhard Selten’s exceptional influence on behavioral and experimental economics. In this collection of academic highlight papers, a number of his students are joined by leading scholars in experimental research to document the historical role of the “Meister” in the development of the research methodology and of several sub-fields of behavioral economics. Next to the academic insight in these highly active fields of experimental research, the papers also provide a glance at Reinhard Selten’s academic and personal interaction with his students and peers.

Personal Finance An Encyclopedia of Modern Money Management

Personal Finance  An Encyclopedia of Modern Money Management Book
Author : Barbara Friedberg
Publisher : ABC-CLIO
Release : 2015-04-14
ISBN : 1440830320
Language : En, Es, Fr & De

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Book Description :

This jargon-free resource explains the who, what, why, and where of contemporary personal finance in simple, easy-to-grasp language, covering the key people, events, terms, tools, policies, and products that make up modern money management. • Supplies accessible, comprehensive financial information that explains complex topics in simple language • Shows the relationship between personal finance and everyday life, from renting an apartment to saving for retirement • Answers a wide variety of personal finance questions • Provides a resource suitable for both personal and scholarly use

Organizational Behavior

Organizational Behavior Book
Author : Fred Luthans
Publisher :
Release : 1973
ISBN :
Language : En, Es, Fr & De

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Book Description :

Organisational Behavior by Fred Luthans was one of the first mainstream organisational behavior texts on the market and continues the tradition of being the most current and up-to-date researched text today. Well-known author Fred Luthans is the 5th most prolific Publisher in Academy of Management Journals and a senior research scientist with the Gallup Organization, who continues to do research in the organisational behavior area. The Twelfth Edition of Organisational Behavior is ideal for instructors who take a research-based and conceptual approach to their OB course.

Managerial Economics Markets and the Firm

Managerial Economics  Markets and the Firm Book
Author : William Boyes
Publisher : Cengage Learning
Release : 2011-01-01
ISBN : 0618988629
Language : En, Es, Fr & De

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Book Description :

Boyes introduces non-majors to the power of economics in business decision making. The text's intuitive approach clearly highlights how economics influences marketing, management, and other business-related decisions. In addition to traditional principles of price theory MANAGERIAL ECONOMICS examines organizational behavior, strategic management, human resource management, and emerging issues such as game theory, TQM, and information economics. MANAGERIAL ECONOMICS departs from convention to illustrate the role of economic intuition in making sound business decisions. While other texts focus on quantitative analysis, this book enphasizes logic and conceptual modeling -- reinforced by real-life examples -- to highlight the pivotal link between economics and key business concerns such as costs, prices, markets, and personnel. Students learn to weigh the strategic costs and benefits of each business choice, instead of relying on popular quick-fix solutions. Ideal for students in MBA programs and less quantitative courses, MANAGERIAL ECONOMICS demonstrates the power of economic insight on business decision making. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.