Suchergebnisse

Front Cover -- The Beginnings of Behavioral Economics: Katona, Simon, and Leibenstein's X-Efficiency Theory -- Copyright -- Dedication -- Contents -- Acknowledgments -- 1 Introduction -- I What this book is about and what it is not about -- II Two beginnings, one door -- III Leibenstein's writings, 1950-66 -- Bandwagon, Snob, and Veblen Effects in the Theory of Consumer Demand (1950) -- A Theory of Economic Demographic Development (1954) -- Economic Backwardness and Economic Growth (1957), and -- Investment Criteria, Productivity, and Economic Development (1955) -- Economic Theory and Organizational Analysis (1960) -- IV Empirical studies on X-efficiency -- 2 Two beginnings -- I The door -- Two beginnings -- The door -- The (sophisticated) anthropomorphic sin -- 1994. A momentous year in the history of behavioral economics? -- Even the best of us have been rejected -- II Homo economicus -- The pre-eminence of homo-economicus in economics -- III Behavioral economics. What is it? -- Behavioral economics is what behavioral economists do -- Rexford Tugwell. Forerunner of behavioral economics -- IV Final comments on this chapter and looking ahead to Chapter 3 -- 3 The "Big 3." Simon, Katona, Leibenstein -- I Herbert A. Simon -- Simplicity is often the best approach -- The parable of the ant -- Bounded rationality and satisficing -- II George Katona -- Katona's beginnings -- Why economics and psychology drifted apart -- ECONS vs HUMANS -- Characteristics of behavioral economics/psychological economics -- Katona takes on homo economicus, and discusses framing -- Rationality -- Framing -- Katona's behavioral macro -- Consumer behavior -- The law of large numbers -- Intervening variables. Motives, attitudes, and expectations -- Prediction and understanding -- III Harvey Leibenstein -- Atoms and molecules. Individuals vs firms and households.

The article considers the "behavioral" modification of the standard DSGE model proposed by X. Gabaix. In his model, agents behave in a boundedly rational manner, showing incomplete attention to macroeconomic statistics. Moreover, unlike other attempts to abandon the hypothesis of rational expectations in favor of a model of adaptive and/or static expectations, the Gabaix model is initially constructed taking into account the inattention of economic agents to macro variables. The consequence of bounded rationality is that monetary policy is less effective (compared to the model of rational expectations) and, conversely, fiscal policy is effective due to the fact that Ricardo equivalence is not fulfilled. If the inertia of inflation expectations is taken into account in the Gabaix model, it demonstrates that the interest rate has a positive effect on inflation in the long run. Bayesian estimates for the rationality coefficient in the Russian economy are presented. Moreover, attention to inflation is much lower than attention to the variable of economic activity.

Abstract
We investigate the usefulness of the dice game paradigm to public administration as a standardized way of measuring (dis)honesty among individuals, groups, and societies. Measures of dishonesty are key for the field's progress in understanding individual, organizational, and societal differences in unethical behavior and corruption. We first describe the dice game paradigm and its advantages and then discuss a range of considerations for how to implement it. Next, we highlight the potential of the dice game paradigm across two diverse studies: prospective public employees in Denmark (n = 441) and prospective public employees in 10 different countries with very different levels of corruption (n = 1,091). In the first study, we show how individual-level behavioral dishonesty is very strongly negatively correlated with public service motivation. In the second study, we find that widely used country-level indicators of corruption are strongly correlated with the average behavioral dishonesty among prospective public employees. The results illustrate the importance of the validated dice game paradigm to shed light on core questions that link micro- and macro-level dynamics of dishonesty and corruption in the public sector.

This article addresses the emergence of "lowest-low" fertility in some countries, primarily in Southern Europe and East Asia, and poses the question of why we find such large differences in birth rates across postindustrial societies. A set of macro–micro mechanisms are identified, which are examined empirically using comparative data for seven countries from the Gender and Generations Survey. Social norms, and in particular social norms related to gender roles, are at the center of the analysis as a mechanism that conditions the translation of intentions into behavior. Societies that discourage gender equity in the private sphere of the household tend to be characterized by a strong breadwinner ideology. In these societies, the valorization of women's role as household manager and mother is mirrored by the valorization of men's role as breadwinner for the household. In these societies, there is a strong norm that a young man should be able to support a family prior to getting married and becoming a parent, that is, that males should prove themselves to be adequate breadwinners. When combined with changing structural conditions, such as high unemployment rates, prolonged periods of education, and increasingly insecure terms of employment in flexible labor markets, this norm will lead to declining birth rates. Hence, norms work as a mechanism that filters the effect of structural conditions so that structural constraints on fertility, such as limited labor market opportunities for young men, will affect fertility outcomes via the mechanism of gender-role norms.

Front Cover -- How Behavioral Economics Influences Management Decision-Making -- Copyright Page -- Contents -- Preface -- Acknowledgments -- 1 The Changing Nature of Work: Macro-Level Considerations for Managers -- 1.1 Complexity and Irrationality Influence Markets, Firms, and Individual Behavior -- 1.2 Changing Market Conditions: Growth and Productivity Concerns -- 1.3 Declining Technology Costs Are Driving a Skills-Biased Workforce -- 1.4 The Value of Intangible Assets: The Rise of Information and Data in a Knowledge Economy -- 1.4.1 People Create Intellectual Capital -- 1.4.2 What is Intellectual Capital? -- 1.4.2.1 Talent -- 1.4.2.2 Organizational Capital -- 1.4.2.3 External Relationships -- 1.4.3 Intellectual Capital Drives Firm Performance and Innovation -- 1.5 Blurring Industry Lines: Creating New Rules of Competition -- 1.6 New Forms of Employment: A Continuum of Labor Redefines Social Contracts -- 1.7 Reorganizing the Firm Around Divisions of Labor -- 1.7.1 Reduced Hierarchy -- 1.7.2 Coordinated Expertise: Team Structures -- 1.8 Conclusion -- References -- Further Reading -- 2 Rational Economics and the Administrative Theory of Management -- 2.1 Do We Still Need Managers? -- 2.2 The Self-Fulfilling Nature of Social Science Theories in Management -- 2.3 Rational Economic Theory -- 2.3.1 Individuals Pursue Their Own Interests -- 2.3.2 The Purpose of the Firm is to Seek Shareholder Wealth Maximization -- 2.3.3 Managers Needed to Mitigate Agency Costs of Self-Seeking Individuals and Maximize Shareholder Wealth -- 2.4 An Unintentional Tunneling on a Time and Place in Management Narratives -- 2.5 Many Historical Management Theorists Expressed Skepticism, Yet Remained in the Shadows -- 2.5.1 Historical Perspectives Before the Industrial Revolution -- 2.5.2 The Response to Scientific Management: Turnover, Low Morale and Even Outlaw

Our uses of digital technologies like social media platforms or email leave massive amounts of behavioral traces that are most interesting for social research. Other digital technologies like cell phones allow harnessing behavioral traces for research purposes. Such Digital Behavioral Data consists of genuinely relational records which can be thought of in terms of networks. However, this kind of data requires a shift of perspective from individuals to micro events (e.g., a post on social media) as units of observation and brings established techniques like Social Network Analysis to the center stage. We argue that, using this approach, obtaining individual attributes and attitudes as well as uncovering the micro-macro dynamics of behavior by mining patterns are potentially fruitful applications. We discuss methodological challenges and conclude that social theory is a constitutive pillar for the consolidation of Computational Social Science.

I. Introduction -- I. Introduction -- II. On Theory -- 1. Aggregation without side conditions -- 2. Aggregation of production functions under optimum conditions -- 3. Aggregation and individual preferences -- 4. Aggregation and the distribution of individual characteristics -- 5. Linear aggregation and estimation -- 6. Aggregation over arguments of a function -- III. Some Applications -- 7. Aggregation and consumer behaviour -- 8. Collective choice and macro-economic policy -- IV. Epilogue: Optimal aggregation -- IV. Epilogue: Optimal aggregation -- References -- Author Index.

The most critical long-term trend affecting the East Asian security environment is the emergence of a more politically and militarily assertive China, driven by its economic growth and its sense of entitlement as a leading power in the region. To a certain extent, this emergence will conflict with a similarly rising India, but mostly it will clash with U.S. security interests in maintaining the (U.S.–predominant) status quo in the region. The region may stay reasonably stable for the next decade, but if trends continue, instability could grow in the western Pacific, particularly the South China Sea.

"Recognising that the economy is a complex system with boundedly rational interacting agents, the book presents a theory of behavioral rationality and heterogeneous expectations in complex economic systems and confronts the nonlinear dynamic models with empirical stylized facts and laboratory experiments. The complexity modeling paradigm has been strongly advocated since the late 1980s by some economists and by multidisciplinary scientists from various fields, such as physics, computer science and biology. More recently the complexity view has also drawn the attention of policy makers, who are faced with complex phenomena, irregular fluctuations and sudden, unpredictable market transitions. The complexity tools - bifurcations, chaos, multiple equilibria - discussed in this book will help students, researchers and policy makers to build more realistic behavioral models with heterogeneous expectations to describe financial market movements and macro-economic fluctuations, in order to better manage crises in a complex global economy"--

Capitalism is characterized by booms and busts. Periods of strong growth in output alternate with periods of declines in economic growth. Every macro-economic theory should attempt to explain these endemic business cycle movements. In this paper I present two paradigms that attempt to explain these booms and busts. One is the DSGE-paradigm in which agents have unlimited cognitive abilities. The other paradigm is a behavioural one in which agents are assumed to have limited cognitive abilities. These two types of models produce a radically different macroeconomic dynamics. I analyze these differences. I also study the different policy implications of these two paradigms

The connection of economic theory and behavior is one of the central topics of this book - and also a central issue in economic thinking of Horst Todt to whom this book is dedicated. The contributions deal with topics of normative and descriptive decision-making: They investigate, for instance, the emergence of decisions or the role of imitation as a competitive principle. A number of contributions treat special decision-making problems on a micro or on a macro level, whereas others concentrate on the principle questions of decision-making or on the conceptualization of important but fuzzy notions like power or solidarity