Tag: Decisions
Rational decision making (FT Summer School)
The classical theory of rational decision-making under uncertainty has been evolving for over 200 years, since Daniel Bernoulli and Rev. Thomas Bayes laid down...
In search of self-interest
He is self interested, materialistic, and obsessed with calculating his worth. But who is the rational economic man?
Of ants and omelettes
David Beckham would find it hard to explain the physics behind his free-kicks. It can be equally difficult to analyse the reasons why some firms are more successful than others
Citizen Keynes
Looking for a lesson in economic behaviour? Put down your textbooks, and head off to the cinema or video store.
Thinking in sevens
Categories and lists help us to make better sense of a complex world. But they must be chosen carefully.
Meeting of closed minds
It sat for 340 days, heard evidence from 195 witnesses and received over 4000 letters of objection. The public inquiry into Sizewell B was the second biggest ever - but it came to the wrong conclusion.
Makings of a boss
In his latest book Jack Welch claims to tells us ,"Straight from the Gut",how to be a successful CEO. But do business autobiographies really offer any useful advice for managers?
A valuable lesson from fish and forests
Some economists argue that establishing clear property rights to resources is a key to economic success. But the Indonesian state’s attempt to reform ownership of the country’s forests has led to environmental catastrophe.
Relativism rules
Seemingly conflicting theories about economics and business may in fact just illustrate different aspects of an issue. It is often pointless to look for a single explanation of a successful business operation or economic behaviour in general. The post-modernist idea that scientific truths are not objective facts captures something very important about the nature of social science
