Managerial economics

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

Experimental Economics: Economic and Game Theoretic Principles in Experimental Research in the Social Sciences

Abstract: Understanding individual and social decisions and how they are affected by the environment and institutional constraints is at the heart of the the social sciences. With the exception of psychology, traditionally in the social sciences empirical evidence is gathered via happenstance data. Such data are plagued with endogeneity problems and unobserved variables which make it difficult to draw causal inferences and reliably test theories. In the last thirty years laboratory experiments are increasingly adopted, especially in economics. Experimental economics research is often based on formal economic or game theoretical models with clear-cut rules which allow unambiguous inferences from changes in environmental variables. This model-based approach is tightly linked to two principles of experimental economics: the use of task related (monetary) incentives and the proscription of deception. Experimental economics plays an important role in theory and model falsification as well as in digging up behavioral regularities in individual and interactive decision making. Research in experimental economics was instrumental in the development of new models of other-regarding preferences, boundedly rational reasoning, adaptive learning, and ‘noisy’ equilibrium models. The toolbox of economics experiments informs research in decision neuroscience and is also applied in many other fields of the social sciences. Undoubtedly, experimental economics will continue to challenge newly emerging models and suggest new theories of human behavior and keep on to significantly contribute to knowledge in the social sciences.

Price-based versus standards-based approaches to reducing car addiction and other environmentally destructive activities

Abstract: It is argued that mainstream economics, with its present methodological approach, is limited in its ability to analyze and develop adequate public policy to deal with current environmental problems and sustainable development. This book provides an alternative approach. Building on the strengths and insights of Post Keynesian and ecological economics and incorporating cutting edge work in such areas as economic complexity, bounded rationality and socio-economic dynamics, the contributors to this book provide a trans-disciplinary approach to deal with a broad range of environmental concerns.

The impact of timing and firm capabilities on the amount of capital raised in an initial public offering: evidence from the biotechnology industry.

Abstract: This paper develops a model of the total level of capital raised by biotech IPOs based on the timing of the offering and the scientific capabilities of the firm. The results indicate a positive rel...