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ABSTRACTIn this tutorial the author shows how graph theory can be used to model the structural relationships in a behavioral theory. The baśic elements of a graph and its related matrices are defined and illustrated. A survey of applications of graph theory in behavioral science is followed by an extensive bibliography.

Behavioral decision theory draws on experimental research in cognitive psychology to provide a descriptively accurate model of human behavior. It shows that people systematically violate the normative assumptions of economic rationality by miscalculating probabilities and making choices based on one-economic criteria. Behavioral decision theory's ability to capture the complexity of human judgments and choices makes it a useful foundation for improving public policy analysis, design, and implementation. Originally published in 2001, this volume showcases the research of leading scholars who are working on applications of behavioral decision theory in diverse policy settings. It is designed to give policy analysts and practitioners who are non-psychologists a clearer understanding of the complexities of human judgment and choice, and suggest how to integrate behavioral decision theoretic insights into the policy sciences. This interdisciplinary volume should be insightful and useful wherever people's judgments and choices matter for policy formulation, acceptance, and effectiveness

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

The book presents an integrative viewpoint of behavioral economics as an approach to analyze the behavior of decision-makers in economic situations. Special attention is paid to the significance of experimental methods, enabling for example the collection of information for a decision-maker in a dynamic decision situation, to reduce uncertainty.

Intro -- ACKNOWLEDGMENTS -- 1 - INTRODUCTION -- 2 - ANTECEDENTS OF THE BEHAVIORAL THEORY OF THE FIRM -- 2.1 The Theory of the Firm -- 2.2 Organization Theory -- 2.3 Research Questions in a Revised Theory of Firm Decision Making -- 2.4 Summary -- Appendix. Mathematical Theory of the Firm -- 3 - ORGANIZATIONAL GOALS -- 3.1 The Problem of Collective Goals -- 3.2 The Goal Formation Process -- 3.3 Business Goals and Price and Output Decisions -- 3.4 Summary -- 4 - ORGANIZATIONAL EXPECTATIONS -- 4.1 Expectations in Theories of Business Decision Making -- 4.2 Four Case Studies in the Use of Expectations -- 4.3 Communications in Theories of Business Decision Making -- 4.4 Two Experiments on Organizational Communication -- 4.5 Implications for a Theory of Organizational Expectations -- 5 - ORGANIZATIONAL CHOICE -- 5.1 A Partial Model of Organizational Choice -- 5.2 The Firm as an Adaptive Institution -- 5.3 Standard Operating Procedures -- 5.4 Summary -- 6 - A SUMMARY OF BASIC CONCEPTS IN THE BEHAVIORAL THEORY OF THE FIRM -- 6.1 Goals, Expectations, and Choice -- 6.2 Four Major Relational Concepts -- 6.3 The Basic Structure of the Organizational Decision-Making Process -- 7 - A SPECIFIC PRICE AND OUTPUT MODEL -- 7.1 General View of Price and Output Determination in a Retail Department Store -- 7.2 Details of Output Determination -- 7.3 Details of Price Determination -- 7.4 Tests of the Detailed Models -- 7.5 Summary -- 8 - A GENERAL MODEL OF PRICE AND OUTPUT DETERMINATION -- 8.1 A General Model -- 8.2 An Exploration of Some Properties of the Model -- 8.3 Summary -- 9 - A MODEL OF RATIONAL MANAGERIAL BEHAVIOR -- 9.1 Managerial Rationality and Profit Maximization -- 9.2 Motivating the Model -- 9.3 The Model -- 9.4 A Particular Application of the Analysis -- 9.5 Conclusion -- 10 - A MODEL OF TRUST INVESTMENT BEHAVIOR -- 10.1 General Considerations.