Dynamic Inconsistency and Incentive Design: Insights from Behavioural Economics for HR Managers

2021 ◽  
pp. 263145412098734
Author(s):  
Sarthak Gaurav
Keyword(s):  
Decision Making ◽  
Behavioural Economics ◽  
Time Inconsistency ◽  
Design Strategies ◽  
Incentive Design ◽  
Dynamic Inconsistency ◽  
The Standard Model ◽  
Human Decision ◽  
Hr Managers ◽  
Descriptive Models

Behavioural economics is a thriving field that offers descriptive models of human decision-making that deviate from the standard model of decision-making in economics. This article presents insights from behavioural economics that can help address dynamic inconsistency, that is, time-inconsistency problems of employees and inform incentive design strategies. The author argues that lessons from behavioural economics can be applied to design solutions that can transform HR practices. HR managers and leaders stand to benefit from the emerging evidence from the lab and field in behavioural economics that calls for a rethinking of the conventional understanding of human behaviour.

Behavioural economics and health

2021 ◽  
pp. 381-390
Author(s):  
Alison Buttenheim ◽  
Harsha Thirumurthy
Keyword(s):  
Decision Making ◽  
Global Health ◽  
Health Outcomes ◽  
Behavioural Economics ◽  
Policy Implications ◽  
Rational Decision ◽  
Behaviour Change Interventions ◽  
The World ◽  
Health Related ◽  
Human Decision

Human behaviour is an important determinant of health outcomes around the world. Understanding how people make health-related decisions is therefore essential for explaining health outcomes globally and for developing solutions to leading challenges in global health. Behavioural economics blends theories from economics and psychology to uncover key insights about human decision-making. This chapter describes several prominent theories from behavioural economics and reviews examples of how these theories can be useful in efforts to improve global health outcomes. We begin by reviewing the theory of rational decision-making that features prominently in economics and discuss important policy implications that follow from this theory. We then turn to theories and principles from behavioural economics and draw upon empirical evidence from around the world to highlight actionable behaviour change interventions that can be useful for students of global health and practitioners alike.

Evaluating Human Decision-Making Theories With Monkey Data

2013 ◽  
Author(s):  
Scott D. Brown ◽  
Pete Cassey ◽  
Andrew Heathcote ◽  
Roger Ratcliff
Keyword(s):  
Decision Making ◽  
Human Decision

History among the Junipers: Hosea 14:2–10 as Metahistoriography

2019 ◽  
Vol 63 (1) ◽  
pp. 105-116
Author(s):  
Mark W. Hamilton
Keyword(s):  
Decision Making ◽  
Moral Formation ◽  
Divine Agency ◽  
Human Decision

Abstract The dual endings of Hosea promoted reflection on Israel’s history as the movement from destruction to restoration based on Yhwh’s gracious decision for Israel. It thus clarifies the endings of the prior sections of the book (chs. 3 and 11) by locating Israel’s future in the realm of Yhwh’s activities. The final ending (14:10) balances the theme of divine agency in 14:2–9 with the recognition of human decision-making and moral formation as aspects of history as well. The endings of Hosea thus offer a good example of metahistoriography, a text that uses non-historiographic techniques to speak of the movements of history.

Network Theory of Human Decision Making

2012 ◽  
Author(s):  
Paolo Grigolini ◽  
Bruce J. West
Keyword(s):  
Decision Making ◽  
Network Theory ◽  
Human Decision

scholarly journals HR Managers’ Emotions in Strategic Decision-Making Events: Evidence from Croatia

2021 ◽  
Vol 13 (2) ◽  
pp. 845
Author(s):  
Marli Gonan Božac ◽  
Katarina Kostelić
Keyword(s):  
Decision Making ◽  
Problem Solving ◽  
Strategic Planning ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Personal Perspective ◽  
Human Resource Managers ◽  
Organizational Perspective ◽  
Hr Managers ◽  
Experienced Emotion

The inclusion of emotions in the strategic decision-making research is long overdue. This paper deals with the emotions that human resource managers experience when they participate in a strategic problem-solving event or a strategic planning event. We examine the patterns in the intensity of experienced emotions with regard to event appraisal (from a personal perspective and the organization’s perspective), job satisfaction, and coexistence of emotions. The results reveal that enthusiasm is the most intensely experienced emotion for positively appraised strategic decision-making events, while frustration is the most intensely experienced emotion for negatively appraised problem-solving events, as is disappointment for strategic planning. The distinction between a personal and organizational perspective of the event appraisal reveals differences in experienced emotions, and the intensity of experienced anger is the best indicator of the difference in the event appraisals from the personal and organizational perspective. Both events reveal the variety of involved emotions and the coexistence of—not just various emotions, but also emotions of different dominant valence. The findings indicate that a strategic problem-solving event triggers greater emotional turmoil than a strategic planning event. The paper also discusses theoretical and practical implications.

CHOICE ARCHITECTURE IN SHAKESPEARE’S PUBLIC MEETINGS: NUDGE THEORY AND RICHARD III, CORIOLANUS, AND JULIUS CAESAR

2020 ◽  
Author(s):  
Ceri Sullivan
Keyword(s):  
Decision Making ◽  
Early Modern ◽  
Behavioural Economics ◽  
The Political ◽  
Julius Caesar ◽  
Choice Architecture ◽  
Group Norms ◽  
Richard Iii ◽  
Public Meetings

Abstract The political and dramatic intentions behind the use of appeals to the early modern public (on and off stage) have already been examined by Shakespeareans. This article points out the technical workings of such appeals by using two new areas of research on decision-making: the ethnography of public meetings and behavioural economics on how to influence choosers. These theories can illuminate the strategies used by the tribunes in handling the citizens of Coriolanus, by Antony in dealing with the plebeians in Julius Caesar, and by Buckingham and Richard when gathering support from the Londoners in Richard III. Using six common psychological biases (anchor-and-adjust, availability, representativeness, priming, arousal, and group norms), Shakespeare’s politicians prompt their hearers to change their minds: a celebrity warrior is recast as a wily tyrant, an execution as a murder, and a regent as the legitimate king.

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