• Behavioural economics
      December 2015

      Behavioural Corporate Finance

      by Author(s): Júlio Lobão

      Orthodox financial theory often ignores the role played by managers’ personal characteristics in their decision-making processes. However, as anyone with experience in the business world knows, managers’ personalities are crucial in the choices they make. Indeed, it should be noted that firms do not make decisions, rather it is the managers who decide – either as a group or individually.This book explores the impact of managers’ psychological profiles and life experiences on their financial decisions, taking the following key questions as starting points: Why do they commit mistakes? Why do they contract debt and issue shares? How do they choose the right amount of dividends to distribute? Why do they acquire other firms? Why do they sometimes choose to manipulate information and to commit fraud?As the book highlights, having insights into managers’ psychology is essential to understanding their choices and predicting decisions made by competing firms.

    • Behavioural economics
      March 2017

      Economic Behaviour

      Economy, Business and People

      by Editor(s): Alexandra Zbuchea, Constantin Brătianu, Florina Pînzaru

      The current economy is more complex and surprising than ever before: global and local factors combine to shape a very diverse framework, where organizations and management practices are challenged. This book presents a selection of studies that deal with economic behavior, both at the macro and micro level. It presents some well-defined aspects and builds on a new understanding of decision-making and economic development based on ethics and knowledge. It also emphasizes the human factor in shaping business and economic strategies as part of the international competition and interdependencies.

    • Business, Economics & Law
      December 2018

      The Mature Corporation

      A Model of Responsible Capitalism

      by Author(s): Paul Kearns, Stuart Woollard

      This volume represents the first textbook of the Maturity Institute, a new, not-for-profit, multi-disciplinary professional development institution established in 2012 to address the developmental needs of corporations. It explains the institution’s brief history, philosophy, goals, principles, strategic framework and measurement of mature, management practice. It offers a critique of earlier attempts to temper and moderate the worst excesses of late 20th century capitalism including concepts of ‘balanced scorecards’, ‘triple bottom lines’ and ‘corporate social responsibilities’. It tackles the root causes of capitalism’s present malaise, tracing them back to the mantra of ‘shareholder value’. In its analysis, the text describes a mutually inclusive, whole system, value paradigm where every societal stakeholder can benefit from corporate activity, where true wealth creation, resource utilisation and sustainability go hand-in-hand. This book provides a sophisticated, yet practical, navigation chart for all organisations needing to address the immense social and economic changes of the unfolding millennium.

    • Behavioural economics
      May 2017

      Ethnic Diversity and Solidarity

      A Study of their Complex Relationship

      by Editor(s): Paul de Beer, Ferry Koster

      Ethnic diversity and solidarity are often thought to be at odds with each other. In an increasingly diverse society, individuals find it more difficult to identify with other citizens and, therefore, are less willing to show solidarity. Empirical tests of the relationship between diversity and solidarity are, however, inconclusive.This book tests the hypothesis that diversity undermines solidarity in various ways. It discusses the meaning of social solidarity and the different motives that people can have to act solidary, and it examines the relationship between ethnic diversity and solidarity at the national, regional and local levels. These empirical tests use multiple methods, such as an international survey, a vignette study among the Dutch population, and a field experiment involving visitors to a popular market in Amsterdam. The role of the mass media is examined by studying the images of different ethnic groups that are presented in some popular newspapers, TV programmes and a news provider on the Internet. The collection concludes that, although ethnicity is certainly an important factor in understanding patterns of solidarity, there is not a simple linear relationship between ethnic diversity and solidarity. Even though ethnic difference in itself may be a source of discrimination, one cannot conclude from this that increasing ethnic diversity will necessarily result in less solidarity.

    • Behavioural economics
      December 2015

      Behavioural Corporate Finance

      by Author(s): Júlio Lobão

      Orthodox financial theory often ignores the role played by managers’ personal characteristics in their decision-making processes. However, as anyone with experience in the business world knows, managers’ personalities are crucial in the choices they make. Indeed, it should be noted that firms do not make decisions, rather it is the managers who decide – either as a group or individually.This book explores the impact of managers’ psychological profiles and life experiences on their financial decisions, taking the following key questions as starting points: Why do they commit mistakes? Why do they contract debt and issue shares? How do they choose the right amount of dividends to distribute? Why do they acquire other firms? Why do they sometimes choose to manipulate information and to commit fraud?As the book highlights, having insights into managers’ psychology is essential to understanding their choices and predicting decisions made by competing firms.

    • Behavioural economics
      March 2017

      Economic Behaviour

      Economy, Business and People

      by Editor(s): Alexandra Zbuchea, Constantin Brătianu, Florina Pînzaru

      The current economy is more complex and surprising than ever before: global and local factors combine to shape a very diverse framework, where organizations and management practices are challenged. This book presents a selection of studies that deal with economic behavior, both at the macro and micro level. It presents some well-defined aspects and builds on a new understanding of decision-making and economic development based on ethics and knowledge. It also emphasizes the human factor in shaping business and economic strategies as part of the international competition and interdependencies.

    • Behavioural economics
      May 2017

      Ethnic Diversity and Solidarity

      A Study of their Complex Relationship

      by Editor(s): Paul de Beer, Ferry Koster

      Ethnic diversity and solidarity are often thought to be at odds with each other. In an increasingly diverse society, individuals find it more difficult to identify with other citizens and, therefore, are less willing to show solidarity. Empirical tests of the relationship between diversity and solidarity are, however, inconclusive.This book tests the hypothesis that diversity undermines solidarity in various ways. It discusses the meaning of social solidarity and the different motives that people can have to act solidary, and it examines the relationship between ethnic diversity and solidarity at the national, regional and local levels. These empirical tests use multiple methods, such as an international survey, a vignette study among the Dutch population, and a field experiment involving visitors to a popular market in Amsterdam. The role of the mass media is examined by studying the images of different ethnic groups that are presented in some popular newspapers, TV programmes and a news provider on the Internet. The collection concludes that, although ethnicity is certainly an important factor in understanding patterns of solidarity, there is not a simple linear relationship between ethnic diversity and solidarity. Even though ethnic difference in itself may be a source of discrimination, one cannot conclude from this that increasing ethnic diversity will necessarily result in less solidarity.

    • Business, Economics & Law
      December 2018

      The Mature Corporation

      A Model of Responsible Capitalism

      by Author(s): Paul Kearns, Stuart Woollard

      This volume represents the first textbook of the Maturity Institute, a new, not-for-profit, multi-disciplinary professional development institution established in 2012 to address the developmental needs of corporations. It explains the institution’s brief history, philosophy, goals, principles, strategic framework and measurement of mature, management practice. It offers a critique of earlier attempts to temper and moderate the worst excesses of late 20th century capitalism including concepts of ‘balanced scorecards’, ‘triple bottom lines’ and ‘corporate social responsibilities’. It tackles the root causes of capitalism’s present malaise, tracing them back to the mantra of ‘shareholder value’. In its analysis, the text describes a mutually inclusive, whole system, value paradigm where every societal stakeholder can benefit from corporate activity, where true wealth creation, resource utilisation and sustainability go hand-in-hand. This book provides a sophisticated, yet practical, navigation chart for all organisations needing to address the immense social and economic changes of the unfolding millennium.

    • Humanities & Social Sciences
      July 2019

      Nudge, nudge, think, think

      Experimenting with ways to change citizen behaviour, second edition

      by Peter John, Sarah Cotterill, Alice Moseley, Liz Richardson, Graham Smith, Gerry Stoker, Corinne Wales

      How can governments persuade their citizens to act in socially beneficial ways? This ground-breaking book builds on the idea of 'light touch interventions' or 'nudges' proposed in Richard Thaler and Cass Sunstein's highly influential Nudge (2008). While recognising the power of this approach, it argues that an alternative also needs to be considered: a 'think' strategy that calls on citizens to decide their own priorities as part of a process of civic and democratic renewal. As well as setting out these divergent approaches in theory, the book provides evidence from a number of experiments to show how using 'nudge' or 'think' techniques works in practice. This second edition includes a substantial new introduction that explores recent changes in policy and politics and reviews the continuing academic debate about nudge and think. It also features a foreword by David Halpern, Director of the Behavioural Insights Team (a.k.a. the 'Nudge Unit'), and an afterword by Peter John, introducing his radical new version of nudge, 'nudge plus'.

    • Business, Economics & Law
      October 2011

      Inequality of Opportunity

      Theory and Measurement

      by Juan Gabriel Rodriguez, John A. Bishop

      This volume contains both theoretical and applied on the concept of equality of opportunity which says that a society should guarantee its members equal access to advantage regardless of their circumstances, while holding them responsible for turning that access into actual advantage by the application of effort. Theoretical papers discuss to what extent some of the measures of inequality of opportunity meet the reward and the compensation principles, a new methodology for evaluating long-term income distributions, the implications of partial observability of individuals' circumstances on the measurement of inequality of opportunity and the advantages of applying segregation indices to study inequality in life chances. The applied work investigates how governments affect inequality of opportunity through the design of their tax and transfer schemes in 15 European countries, the changing role of circumstances for measuring inequality of opportunity in Chile, the existence of a poverty trap in Haiti and its consequences for equality of opportunity, and the correlation between circumstances and effort in the measurement of inequality of opportunity in U.S. during the period 1969-2007.

    • Business, Economics & Law
      May 2009

      Quantifying Consumer Preferences

      by Daniel Slottje

      This volume presents straightforward, innovative research on the estimation of demand systems and the measurement of consumer preferences. Demand studies and understanding consumer behavior remain two of the most important areas of analysis by practicing applied economists and econometricians. This volume also offers state of the art research in demand analysis, using modern econometric tools to analyze consumer behavior and estimate demand relationships for well known demand systems. This book will be aimed at a broad audience of economists and other social scientists; including generalists, graduate students, private sector economists and others.

    • Humanities & Social Sciences
      July 2019

      Nudge, nudge, think, think

      Experimenting with ways to change citizen behaviour, second edition

      by Peter John, Sarah Cotterill, Alice Moseley, Liz Richardson, Graham Smith, Gerry Stoker, Corinne Wales

      How can governments persuade their citizens to act in socially beneficial ways? This ground-breaking book builds on the idea of 'light touch interventions' or 'nudges' proposed in Richard Thaler and Cass Sunstein's highly influential Nudge (2008). While recognising the power of this approach, it argues that an alternative also needs to be considered: a 'think' strategy that calls on citizens to decide their own priorities as part of a process of civic and democratic renewal. As well as setting out these divergent approaches in theory, the book provides evidence from a number of experiments to show how using 'nudge' or 'think' techniques works in practice. This second edition includes a substantial new introduction that explores recent changes in policy and politics and reviews the continuing academic debate about nudge and think. It also features a foreword by David Halpern, Director of the Behavioural Insights Team (a.k.a. the 'Nudge Unit'), and an afterword by Peter John, introducing his radical new version of nudge, 'nudge plus'.

    • Humanities & Social Sciences
      July 2019

      Nudge, nudge, think, think

      Experimenting with ways to change citizen behaviour, second edition

      by Peter John, Sarah Cotterill, Alice Moseley, Liz Richardson, Graham Smith, Gerry Stoker, Corinne Wales

      How can governments persuade their citizens to act in socially beneficial ways? This ground-breaking book builds on the idea of 'light touch interventions' or 'nudges' proposed in Richard Thaler and Cass Sunstein's highly influential Nudge (2008). While recognising the power of this approach, it argues that an alternative also needs to be considered: a 'think' strategy that calls on citizens to decide their own priorities as part of a process of civic and democratic renewal. As well as setting out these divergent approaches in theory, the book provides evidence from a number of experiments to show how using 'nudge' or 'think' techniques works in practice. This second edition includes a substantial new introduction that explores recent changes in policy and politics and reviews the continuing academic debate about nudge and think. It also features a foreword by David Halpern, Director of the Behavioural Insights Team (a.k.a. the 'Nudge Unit'), and an afterword by Peter John, introducing his radical new version of nudge, 'nudge plus'.

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