Managerial economics

About: Managerial economics is a research topic. Over the lifetime, 1524 publications have been published within this topic receiving 83965 citations.

On the Theoretical and Practical Relevance of the Concept of Gift to the Development of a Non-Imperialist Economics

Abstract: There is growing awareness of the need for interdisciplinary research on complex issues, but also of the obstacles that historical boundaries between social disciplines pose to such dialogue. It is increasingly recognized that the somewhat constitutive autonomy, the progressive autonomization, and finally the “imperialism” of economics have severely reduced the possibility of interdisciplinary discussion. This paper is to be considered as an introduction to a research programme on the foundations of a non-imperialist economics. It investigates gift exchange as a missed opportunity for economics. It aims at showing that, by refusing to tackle the complexity of the gift, economics has not only lost an opportunity to develop a method suitable for the analysis of complex problems, but has voluntarily chosen not to follow a path which would have prevented it from colonizing other disciplines. Reintroducing the concept of gift into the economic discourse may thus represent a required precondition to produce an innovating discourse on economics.

GENERAL & APPLIED ECONOMICS | REVIEW ARTICLE Case teaching in economics: History, practice and evidence

Abstract: 1 * Abstract: Case studies are, normally, real-world problems that might include rel- evant or irrelevant data, correct or incorrect analysis and that require some sort of interpretation or solution. The use of case studies has been a common feature of undergraduate studies in business and law for a long time. In recent years, the so-called "case method" has become quite popular in economics education as well since it is believed to help the development to three key objectives in economics education: the mastering of economics principles, the application of principles to reality and the systematic analysis of policy issues. Coupled with student-centred approaches to learning, the case method can prove a very effective method in help- ing students to achieve a deeper understanding of both economic theory and policy analysis. The article provides an account of how case studies can be effectively used in economics teaching and reviews the empirical evidence on the effectiveness of the approach.

Reflections on the Practical Applicability of Strategic Game Theory to Managerial Incentivation

Abstract: On the one hand, game theory has proven to effectively address a wide range of economic problems. In general, it analyses the impact of incentives of different kinds on human decision making and behaviour. Thereby, it has found mechanisms to effectively induce specific behaviour, like the Groves mechanism. On the other hand, in management accounting the design of effective incentive systems plays a major role. The aim of these incentives is to induce decision makers to act in the interest of their firms. Consequently, the question rises whether and how game theory can inform the design of these incentive systems. The present paper provides an overview over the current findings in game theory regarding such incentive mechanisms and critically evaluates the practical applicability of these findings to the design of incentive systems in the area of management accounting. The paper concludes with an overview of aspects that should be addressed in future research.