Behavioral Economics, Public Policy, and Basic Decision-Making: A Critical Narrative

Hugh Schwartz ()

Chapter Chapter 14 in Constructing a More Scientific Economics, 2022, pp 297-307 from Palgrave Macmillan

Abstract: Abstract Behavioral economics (BE) assumes that what holds for average individuals provides good evidence for all entities. In truth, decision-making is often explained by underlying ideas and is manifested by actual behavior, that of organizations (including non-profits), as well as by that of individuals and enterprises. BE’s guidance should be not only how to avoid poor choices (as at present), but how to make decisions that enable individuals and enterprises to rise to the top, including those who are initial outliers. This chapter summarizes the heuristics and biases uncovered by economists and psychologists in their empirical work on decision-making and offers alternatives for determining the behavior of enterprise outliers and of organizations, including non-profits, that are successful and rise to the top.

Date: 2022
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:paichp:978-3-030-83928-4_14

Ordering information: This item can be ordered from
http://www.palgrave.com/9783030839284

DOI: 10.1007/978-3-030-83928-4_14

Access Statistics for this chapter

More chapters in Palgrave Advances in Behavioral Economics from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().