5,474 research outputs found
Obesity, Wellbeing, Freedom of Choice, and Institutional Change
No full textBuilding on Tomer’s insights on the determinants of unhealthy eating and obesity, we extend the important price-based model of “rational” consumer choice with healthy living determinants such as food and exercise. We argue that variables such as the quality of information, information literacy, access to healthy foods, and safe and affordable space for exercise, the quality of exercise provision are key determinants of healthy living and, therefore, of the extent to which individuals are obese or overweight. Empirically, critical to reducing the extent of obesity to reducing consumption and/or adequate physical activity. We argue, contrary to Tomer, that as opposed to nudging consumers into behaving in particular a fashion to reduce obesity, it is best to improve individuals’ decision-making environments and capabilities
Community Embeddedness, Consumer Voice, Corporate Social Responsibility
No full textI model how community embeddedness and consumer voice can incentivize firms to be more ethical and socially responsible. Building on x-efficiency theory, I also make the case that being more ethical and socially responsible does not imply higher average costs and lower profits as assumed by conventional economic theory. Moreover, being more ethical or socially responsible need not improve profits or reduce average costs. There is no theoretical reason for self-interested firm decision-makers to be more ethical or socially responsible. Therefore, firms that are embedded in their community and where consumers have effective voice should be more ethical and socially responsible. In this environment, such behaviour makes the firm more competitive. Fear of government intervention is another reason for changes in firm behaviour
Behavioural labour economics
No full textThis chapter presents complementary methodologies to contemporary economic theory which focuses on price and income as determinants of labour supply. An alternative model is presented based on the realistic assumption that labour supply is affected by target income and, relatedly, to target non-market time (child care, other family responsibilities), as well as the utility that individuals gain from market work unlike in conventional economics where leisure is a superior good. Attention is also paid to information asymmetries, limited information processing capabilities as well and job search constraints and social norms as core determinants of labour supply. These have significant implications for analysis and policy
Moneyball and decision-making heuristics
No full textThe book and movie Moneyball makes the case that baseball statistics are a better heuristic than the traditional instinct of professional scouts and managers in determining which players to draft and where to position them in a team. On the other hand, in the film Trouble with the Curve, we get another perspective where it is the experience of an ageing scout whose wisdom (accumulated human capital) generates superior results to that produced by young university diploma stats gurus. We argue that both these heuristics advantage decision-making in sports teams. Statistical analysis represents additional time savings in the process of player engagement and positioning. The important role statistics and statistical software and hardware can play in decision-making is not new. It was long ago emphasized by Herbert Simon as he argued that in the real world of bounded rationality the brain is a scarce computational resource and these new technologies are valuable. But he also makes the point that the context within which these decisions are made is critically important. Using the Moneyball narrative, we make the case that when used together, statistics and nuanced experience generate optimal or best possible outcomes for sports teams in terms of success on the field. This conclusion sits well with Kahneman’s recent arguments on the importance of both slow and fast thinking (different types of heuristics) and of Gigerenzer’s fast and frugal heuristics to the decision-making process. We argue that integrating both approaches serves to improve our understanding of how better decisions can be made in general and within the realm of sports specifically
Bounded rationality, imperfect and costly information and sub-optimal outcomes in the sports and health and fitness industries
No full textWe exemplify behavioural economics methodological approaches to decision-making and policy using the example of the health and fitness industry, choices made that affect the level of obesity, and athletes’, trainers’ and coaches’ choices with regard to realising targeted levels of performance. We go beyond a discourse on price and income and beyond a focus on systemic cognitive-based errors in decision-making. It is critically important to take into consideration individuals’ decision-making capabilities and the decision-making environment, which has critical social and institutional determinants, to better understand why sub-optimal choices are made by rational agents and the conditions under which better choices can be achieved
Introduction
No full textThe life and times of John Tomer is discussed with a particular focus on his organizational contributions and his pluralistic methodological approach to economic analysis. The chapters of this book are also summarized and mentioned is made of John’s close colleagues who are unable to contribute to this volume. The Appendix to this chapter contains selected photos of John and colleagues and John’s curriculum vitae
Behavioural theories of the firm with a focus on x-efficiency and effort discretion:Implications for analysis
No full textA behavioural model of the firm is presented in this chapter that is derived from and extends both x-efficiency and efficiency wage theory. In this model, which is referred to as the x-efficiency plus model, a key differentiating assumption from conventional economics models is that effort is variable in the production function and that technical change can be induced by changing cost variables inside of the firm. This approach helps identify key factors that contribute to increasing or decreasing the extent of firm x-efficiency and induced technological change, including fairness in firm organisation and the quality and quantity of quality management
Minnesota Author Gives Book to UMM Students and Library
Full text linkAgnes Louise Hovde, former English instructor and Minnesota author, has recently made a gift of one of her books to the library of the University of Minnesota, Morris, and others as awards to outstanding English students of the freshman class
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