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Publisher Description
The seemingly irrational, puzzling aspects of human behaviour are not bugs, but features. Improving our navigation of the real world.
The modern market-based economy generates wealth, but it lags on well-being; it has mastered efficiency, but struggles with equity; it boasts size, but falls short on sustainability. In other words, our economy delivers performance but neglects progress (i.e., well-being, equity, and sustainability). Many rightly call for tighter regulation, higher (“true”) prices, and longer-term incentives. Others appeal to corporate purpose, shared value, and stakeholder-centricity. Beyond regulation and the practice of business, we must attend as well to education and the theory of business. In particular, we must look at business theory's core assumptions, whose weaknesses are long known. In an appl...
Interviews with nine economists working at the forefront of the profession show how it is changing
How can economists define social preferences and interactions? Culture, familial beliefs, religion, and other sources contain the origins of social preferences. Those preferences--the desire for social status, for instance, or the disinclination to receive financial support--often accompany predictable economic outcomes. Through the use of new economic data and tools, our contributors survey an array of social interactions and decisions that typify homo economicus. Their work brings order to the sometimes conflicting claims that countries, environments, beliefs, and other influences make on our economic decisions. - Describes recent scholarship on social choice and introduces new evidence about social preferences - Advances our understanding about quantifying social interactions and the effects of culture - Summarizes research on theoretical and applied economic analyses of social preferences
How can economists define and measure social preferences and interactions? Through the use of new economic data and tools, our contributors survey an array of social interactions and decisions that typify homo economicus. Identifying economic strains in activities such as learning, group formation, discrimination, and the creation of peer dynamics, they demonstrate how they tease out social preferences from the influences of culture, familial beliefs, religion, and other forces. Advances our understanding about quantifying social interactions and the effects of culture Summarizes research on theoretical and applied economic analyses of social preferences Explores the recent willingness among economists to consider new arguments in the utility function
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Vols. for 1969/71-1983/85 include publications index.