smart economic decision making in a complex world

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Smart Economic Decision-Making in a Complex World
Author : Morris Altman
Publisher : Academic Press
Release Date : 2020-06-05
ISBN 10 : 0128131780
Pages : 302 pages
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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

Smart Economic Decision-Making in a Complex World
Author : Morris Altman
Publisher : Academic Press
Release Date : 2020-06-19
ISBN 10 : 0128114614
Pages : 302 pages
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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

Complex Decision-Making in Economy and Finance
Author : Pierre Massotte,Patrick Corsi
Publisher : John Wiley & Sons
Release Date : 2020-02-05
ISBN 10 : 178630502X
Pages : 372 pages
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Pertinent to modern industry, administration, finance and society, the most pressing issue for firms today is how to reapproach the way we think and work in business. With topics ranging from improving productivity and coaxing economic growth after periods of market inactivity, Complex Decision-Making in Economy and Finance offers pragmatic solutions for dealing with the critical levels of disorder and chaos that have developed throughout the modern age. This book examines how to design complex products and systems, the benefits of collective intelligence and self-organization, and the best methods for handling risks in problematic environments. It also analyzes crises and how to manage them. This book is of benefit to companies and public bodies with regards to saving assets, reviving fortunes and laying the groundwork for robust, sustainable societal dividends. Examples, case studies, practical hints and guidelines illustrate the topics, particularly in finance.

Smart Decisions in Complex Systems
Author : Pierre Massotte,Patrick Corsi
Publisher : John Wiley & Sons
Release Date : 2017-06-29
ISBN 10 : 1119368731
Pages : 376 pages
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Faced with ever-increasing complexity on a daily basis, the decision-makers of today are struggling to find the appropriate models, methods and tools to face the issues arising in complex systems across all levels of global operations. Having, in the past, resorted to outdated approaches which limit problem-solving to linear world views, we must now capitalize on complexities in order to succeed and progress in our society. This book provides a guide to harnessing the wealth inherent to complex systems. It organizes the transition to complex decision-making in all business spheres while providing many examples in various application domains. The authors offer fresh developments for understanding and mastering the global “uberization” of the economy, the post-modern management of computer-assisted production and the rise of cognitive robotics science applications.

The Role of `Experts' in International and European Decision-Making Processes
Author : Monika Ambrus,Karin Arts,Ellen Hey,Helena Raulus
Publisher : Cambridge University Press
Release Date : 2014-08-28
ISBN 10 : 1107074789
Pages : 426 pages
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A broad-gauged analysis of the issues raised by experts' involvement in international and European decision-making processes.

Eyes Wide Open
Author : Noreena Hertz
Publisher : Harper Collins
Release Date : 2013-09-24
ISBN 10 : 0062268635
Pages : 352 pages
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Eyes Wide Open: How to Make Smart Decisions in a Confusing World is Noreena Hertz’s practical, cutting-edge guide to help you cut through the data deluge and make smarter and better choices, based on her highly popular TED talk. In this eye-opening handbook, the internationally noted speaker, economics expert, and bestselling author of IOU: The Debt Threat and Silent Takeover reveals the extent to which the biggest decisions in our lives are often made on the basis of flawed information, weak assumptions, corrupted data, insufficient scrutiny of others, and a lack of self-knowledge. To avert such disasters, Hertz persuasively argues, we need to become empowered decision-makers, capable of making high-stakes choices and holding accountable those who advise us. In Eyes Wide Open, she weaves together scientific research with real-world examples from Hollywood to Harry Potter, NASA to World War Two spies, to construct a path to more astute and empowered decision-making in ten clear steps. With a razor-sharp intellect and an instinct for popular storytelling, she offers counter-intuitive, actionable guidance for making better choices—whether you are a business-person, a professional, a patient, or a parent.

Controlling Uncertainty
Author : Magda Osman
Publisher : John Wiley & Sons
Release Date : 2011-07-18
ISBN 10 : 144435180X
Pages : 360 pages
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Controlling Uncertainty: Decision Making and Learning in Complex Worlds reviews and discusses the most current research relating to the ways we can control the uncertain world around us. Features reviews and discussions of the most current research in a number of fields relevant to controlling uncertainty, such as psychology, neuroscience, computer science and engineering Presents a new framework that is designed to integrate a variety of disparate fields of research Represents the first book of its kind to provide a general overview of work related to understanding control

Decision Making
Author : Fausto Pedro García Márquez,Alberto Pliego Marugán,Mayorkinos Papaelias
Publisher : BoD – Books on Demand
Release Date : 2018-09-19
ISBN 10 : 1789237955
Pages : 64 pages
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Decision Making is a book where each chapter has been contributed to by a different author(s). The book synthesizes the analytical principles with business practice of Decision Making. Specifically, the book provides an interface between the main disciplines of engineering/technology and the organizational, administrative, and planning abilities of decision making. It is complementary to other sub-disciplines such as economics, finance, marketing, decision and risk analysis, etc. The chapters introduce and demonstrate decision making theory in practical case studies. It demonstrates key results for each sector with diverse real-world case studies. The theory is accompanied by relevant analysis techniques, with a progressional approach building from simple theory to complex and dynamic decisions with multiple data points, including big data, etc. Computational techniques, dynamic analysis, probabilistic methods, and mathematical optimization techniques are expertly blended to support analysis of multi-criteria decision-making problems with defined constraints and requirements.

Smart Decisions in Complex Systems
Author : Pierre Massotte,Patrick Corsi
Publisher : John Wiley & Sons
Release Date : 2017-07-06
ISBN 10 : 1119368693
Pages : 376 pages
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Faced with ever-increasing complexity on a daily basis, the decision-makers of today are struggling to find the appropriate models, methods and tools to face the issues arising in complex systems across all levels of global operations. Having, in the past, resorted to outdated approaches which limit problem-solving to linear world views, we must now capitalize on complexities in order to succeed and progress in our society. This book provides a guide to harnessing the wealth inherent to complex systems. It organizes the transition to complex decision-making in all business spheres while providing many examples in various application domains. The authors offer fresh developments for understanding and mastering the global “uberization” of the economy, the post-modern management of computer-assisted production and the rise of cognitive robotics science applications.

Hayek and Behavioral Economics
Author : R. Frantz,R. Leeson
Publisher : Springer
Release Date : 2013-01-31
ISBN 10 : 1137278153
Pages : 349 pages
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An exploration of Friedrich Hayek's contribution to the foundation of behavioural economics, and how his work interacted with and complemented that of his contemporaries. Chapters include detailed discussions of the concept of rationality, psychology and Hayek's philosophical theories as well as the historical context in which he lived and worked.

Managerial Economics
Author : Lila J. Truett,Dale B. Truett
Publisher : Wiley
Release Date : 2003-07-16
ISBN 10 : 9780471444664
Pages : 768 pages
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Truett and Truett's Eighth Edition shows how to use economic analysis to solve problems and make effective decisions in the complex world of business. The highly successful problem-solving approach, clear and accurate presentation of economic theory, and outstanding cases combine to make the best presentation of managerial economics yet. * Walks readers step by step through specific types of problems, including elasticity calculations, cost minimization, and profit maximization. * Shows how real-world firms have addressed issues discussed in the book. * Emphasizes the global aspects of managerial economics and its application in the international marketplace.

Smart Energy Strategies
Author : N.A
Publisher : vdf Hochschulverlag AG
Release Date : 2008
ISBN 10 : 3728132187
Pages : 149 pages
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The enormous challenge of creating a longterm sustainable energy system calls for the participation of engineers, natural and social scientists. They can contribute both through their research and by helping to craft strategies that steer the future development of the system. A sustainable energy system cannot be developed by technical fixes alone; action is required on a broad front, including institutional and regulatory changes. There is an abundance of scientific evidence on which to base decisions on how to proceed. Still, research has a crucial role to play as well.Smart Energy Strategies highlights smart solutions: advances in technical and social-science energy research, particularly advances related to new information technology (e.g. control and communication); and experience with targeted applications of information technology in the supply and consumption of energy. The conference has focused on smart strategies taking into account current technical and institutional systems, with their inertia and shortcomings; future energy-related challenges: energy security; the growing energy needs of the disadvantaged; and unintended consequences of energy systems, particularly climate change but also uncontrolled money flows; smart technical, institutional, and regulatory mechanisms for meeting these challenges.

Decision-Making in the New Reality
Author : David Bennet,Alex Bennet
Publisher : Mqipress
Release Date : 2019-03-22
ISBN 10 : 9781949829259
Pages : 178 pages
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We live in a world that offers many possible futures. The ever-expanding complexity of information and knowledge provide many choices for decision-makers, and we are all making decisions every single day! As the problems and messes of the world become more complex, our decision consequences are more and more difficult to anticipate, and our decision-making processes must change to keep up with this world complexification. This book takes a consilience approach to explore decision-making in The New Reality, fully engaging systems and complexity theory, knowledge research, and recent neuroscience findings. It also presents methodologies for decision-makers to tap into their unconscious, accessing tacit knowledge resources and increasingly relying on the sense of knowing that is available to each of us. Almost every day new energies are erupting around the world: new thoughts, new feelings, new knowing, all contributing to new situations that require new decisions and actions from each and every one of us. Indeed, with the rise of the Net Generation and social media, a global consciousness may well be emerging. As individuals and organizations we are realizing that there are larger resources available to us, and that, as complex adaptive systems linked to a flowing fount of knowing, we can bring these resources to bear to achieve our ever-expanding vision of the future. Are we up to the challenge?

Simple Heuristics that Make Us Smart
Author : Gerd Gigerenzer,Peter M. Todd,ABC Research Group
Publisher : Oxford University Press
Release Date : 2000-10-12
ISBN 10 : 0190286768
Pages : 432 pages
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Simple Heuristics That Make Us Smart invites readers to embark on a new journey into a land of rationality that differs from the familiar territory of cognitive science and economics. Traditional views of rationality tend to see decision makers as possessing superhuman powers of reason, limitless knowledge, and all of eternity in which to ponder choices. To understand decisions in the real world, we need a different, more psychologically plausible notion of rationality, and this book provides it. It is about fast and frugal heuristics--simple rules for making decisions when time is pressing and deep thought an unaffordable luxury. These heuristics can enable both living organisms and artificial systems to make smart choices, classifications, and predictions by employing bounded rationality. But when and how can such fast and frugal heuristics work? Can judgments based simply on one good reason be as accurate as those based on many reasons? Could less knowledge even lead to systematically better predictions than more knowledge? Simple Heuristics explores these questions, developing computational models of heuristics and testing them through experiments and analyses. It shows how fast and frugal heuristics can produce adaptive decisions in situations as varied as choosing a mate, dividing resources among offspring, predicting high school drop out rates, and playing the stock market. As an interdisciplinary work that is both useful and engaging, this book will appeal to a wide audience. It is ideal for researchers in cognitive psychology, evolutionary psychology, and cognitive science, as well as in economics and artificial intelligence. It will also inspire anyone interested in simply making good decisions.

The Making of a World City
Author : Greg Clark
Publisher : John Wiley & Sons
Release Date : 2014-10-16
ISBN 10 : 1118609727
Pages : 248 pages
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After two decades of evolution and transformation, London hadbecome one of the most open and cosmopolitan cities in the world.The success of the 2012 Olympics set a high water-mark in thevisible success of the city, while its influence and soft powerincreased in the global systems of trade, capital, culture,knowledge, and communications. The Making of a World City: London 1991 - 2021 sets out in cleardetail both the catalysts that have enabled London to succeed andalso the qualities and underlying values that are at play:London’s openness and self-confidence, its inventiveness,influence, and its entrepreneurial zeal. London’s organic,unplanned, incremental character, without a ruling design code orguiding master plan, proves to be more flexible than any plannedcity can be. Cities are high on national and regional agendas as we all tryto understand the impact of global urbanisation and there-urbanisation of the developed world. If we can explainLondon’s successes and her remaining challenges, we canunlock a better understanding of how cities succeed.

Simple Rules
Author : Donald Sull,Kathleen M. Eisenhardt
Publisher : Houghton Mifflin Harcourt
Release Date : 2015-04-21
ISBN 10 : 0544409906
Pages : 288 pages
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Outlines an approach to high-performance problem-solving and decision-making that draws on insights from survival guides, pop culture and other sources. Co-written by the award-winning author of The Upside of Turbulence. 75,000 first printing.

Annual Report
Author : Macaulay Land Use Research Institute
Publisher : N.A
Release Date : 1998
ISBN 10 :
Pages : 329 pages
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Internet of Things Based on Smart Objects
Author : Giancarlo Fortino,Paolo Trunfio
Publisher : Springer Science & Business Media
Release Date : 2014-04-04
ISBN 10 : 3319004913
Pages : 198 pages
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The Internet of Things (IoT) usually refers to a world-wide network of interconnected heterogeneous objects (sensors, actuators, smart devices, smart objects, RFID, embedded computers, etc) uniquely addressable, based on standard communication protocols. Beyond such a definition, it is emerging a new definition of IoT seen as a loosely coupled, decentralized system of cooperating smart objects (SOs). A SO is an autonomous, physical digital object augmented with sensing/actuating, processing, storing, and networking capabilities. SOs are able to sense/actuate, store, and interpret information created within themselves and around the neighbouring external world where they are situated, act on their own, cooperate with each other, and exchange information with other kinds of electronic devices and human users. However, such SO-oriented IoT raises many in-the-small and in-the-large issues involving SO programming, IoT system architecture/middleware and methods/methodologies for the development of SO-based applications. This Book will specifically focus on exploring recent advances in architectures, algorithms, and applications for an Internet of Things based on Smart Objects. Topics appropriate for this Book include, but are not necessarily limited to: - Methods for SO development - IoT Networking - Middleware for SOs - Data Management for SOs - Service-oriented SOs - Agent-oriented SOs - Applications of SOs in Smart Environments: Smart Cities, Smart Health, Smart Buildings, etc. Advanced IoT Projects.

Harvard Business School Bulletin
Author : N.A
Publisher : N.A
Release Date : 1998
ISBN 10 :
Pages : 329 pages
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Managerial Economics
Author : William F. Samuelson,Stephen G. Marks
Publisher : Wiley
Release Date : 2005-12-16
ISBN 10 : 9780471663621
Pages : 912 pages
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The right tools to guide real decisions When you're climbing a mountain, you have to carefully consider every step if you want to reach your goal. You need to know how your tools will actually perform on the mountain. It also helps to have a trusted guide who knows the way. The same holds true in today's highly competitive, global business environments. The decisions managers make are more complex and critical than ever before. You need to understand how to use economic analysis techniques to make real business decisions. When it comes to making real-life decisions based on sound economic analysis, there is no better guide than Samuelson and & Marks's Managerial Economics, 5th Edition. Featuring many detailed, real-world examples, as well as strong coverage of decision making under uncertainty, game theory, and international topics, this practical text equips you with the right tools you need to make smart decisions. New in the Fifth Edition * Updated and revised chapters on making decisions under uncertainty (Chapters 8 and 9). * New discussions of behavioral economics, including such issues as bounded rationality, sunk-cost fallacies, decision-making heuristics and biases, and the winner's curse. * Updated and expanded coverage of corporate incentives and governance. * Incorporates new developments in the areas of technological change, network economies, and internet economics. * Updated applications and revised end-of-chapter problems.