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Persistent link: https://www.econbiz.de/10009724622
Scholars have called for the Carnegie School to revisit fundamental ideas such as decision, behavioral plausibility (Gavetti, Levinthal, & Ocasio, 2007, p. 531), and the individual (Cohen, 2007). In essence, these calls urge greater realism, beyond the School’s founding concepts such as...
Persistent link: https://www.econbiz.de/10011039734
In this interview with Professor James G. March, we focused on the key insights stemming from his work, with a special emphasis on the lessons for organization science and organization design. We discussed the major ideas and theories that he and his coauthors generated over the several decades...
Persistent link: https://www.econbiz.de/10011859864
In this interview with Professor James G. March, we focused on the key insights stemming from his work, with a special emphasis on the lessons for organization science and organization design. We discussed the major ideas and theories that he and his coauthors generated over the several decades...
Persistent link: https://www.econbiz.de/10012217687
Persistent link: https://www.econbiz.de/10010402619
We use an experiment to study whether market competition can reduce anomalous behaviour in games. In different treatments, we employ two alternative mechanisms, the random mechanism and the auction mechanism, to allocate the participation rights to the red hat puzzle game, a well-known logical...
Persistent link: https://www.econbiz.de/10012119336
Savings behaviour seems to exhibit heterogeneity across nations, and within nations, too. Large changes in saving rates have been observed in the last decades that can be viewed as signs of the arbitrariness of saving. There is a long tradition in the savings literature that separates people...
Persistent link: https://www.econbiz.de/10010468315
Building on Blinder and Wyplosz (2005) this paper presents a formal mechanism which potentially explains how autocratically collegiate, genuinely collegiate and individualistic monetary policy committees (MPCs) are able to reach a consensus. Drawing on the theory of Markov chains, I adopt a...
Persistent link: https://www.econbiz.de/10005748064
The concept of bounded rationality has been at the forefront of a recent empiricist program in economics which under the heading of ‘behavioral economics ‘ seeks to broaden the rational choice paradigm in the direction of psychology, to the neglect of a similar broadening in the direction of...
Persistent link: https://www.econbiz.de/10005418889
It is well known that the standard search and matching model with Rational Expectations (RE) is unable to generate amplification in unemployment and vacancies. We show that relaxing the RE assumption has the potential to provide a solution to this well known unemployment volatility puzzle. A...
Persistent link: https://www.econbiz.de/10010894330