Smart Economic Decision Making in a Complex World
  • Release Date : 19 June 2020
  • Publisher : Academic Press
  • Categories : Business & Economics
  • Pages : 302 pages
  • ISBN 13 : 9780128114612
  • ISBN 10 : 0128114614
Score: 4
From 245 Ratings

Synopsis : Smart Economic Decision Making in a Complex World written by Morris Altman, published by Academic Press which was released on 19 June 2020. Download Smart Economic Decision Making in a Complex World Books now! Available in PDF, EPUB, Mobi Format. 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

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