Title: 3. Behavioral Economics and Nonrational Organizational Decision Making
Abstract: My chapter focuses on behavioral economics, and some of its potential contributions
to understanding behavior in organizations. First I define what
makes economic analysis behavioral, and then turn to two sorts of ideas
about systematic departures from the conventional rationality assumptions in
economics-experimental studies of game-playing behavior, and unorthodox
assumptions about incentives and labor economics. (The game theory studies
are a small part of a broad research program that will result. I think, in a very
different sort of theory which is more descriptive than that of current theorizing.)
The two strands are then loosely tied together in an alternative account of
why LBO (leveraged buyout) restructuring of firms in the 1980s appears to
have worked.
Publication Year: 2018
Publication Date: 2018-12-31
Language: en
Type: book-chapter
Indexed In: ['crossref']
Access and Citation
Cited By Count: 19
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