Smart Economic Decision-Making in a Complex World

Intro -- Smart Economic Decision-Making in a Complex World -- Copyright -- Dedication -- Endorsements -- Contents -- Acknowledgements -- Chapter 1 Introduction: Smart thinking in the real world of complexity -- What this book is all about -- Appendix: Background sources for, smart economic decision-making in a complex world -- References -- Chapter 2 The evolution of decision-making: Why institutions and capabilities matters -- Introduction -- Assumptions matter and behavioural economics -- The conventional wisdom and the different faces of behavioural economics -- The bounded rationality approach in context -- Satisficing and procedural rationality in context -- X-efficiency theory and external benchmarks for optimal behaviour -- Nudging versus constraints change and redesign -- Conclusion -- References -- Chapter 3 How complexity affects decision-making -- Introduction -- Key points of overlap: Hayek and behavioural economics -- Assumptions matter -- Revisiting complexity and the expert -- Contemporary views on bottom-up decision making and individualized norms for rationality -- Ecological rationality and the spontaneous order -- Opening the door to intelligent design -- Opening the door to multiple equilibria: Casting shadows on the spontaneous order and ecological rationality -- Conclusion: Hayek's Golden nugget in decision-making theory -- References -- Chapter 4 Freedom of choice in a complex world -- Introduction -- Multiple equilibria in consumption -- Multiple equilibria in production: An introduction -- Multiple equilibria in production: X-inefficiency and managerial slack -- Multiple equilibria in production: X-inefficiency and agency -- Multiple equilibria in production: Some related scenarios -- Historical and logical time -- Rent seeking and x-efficiency -- Conclusion -- References.