Bounded Rationality And Public Policy

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Bounded Rationality and Public Policy

Author : Alistair Munro
Publisher : Springer Science & Business Media
ISBN 13 : 1402094736
Total Pages : 330 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Bounded Rationality and Public Policy by : Alistair Munro

Download or read book Bounded Rationality and Public Policy written by Alistair Munro and published by Springer Science & Business Media. This book was released on 2009-06-10 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about bounded rationality and public policy. It is written from the p- spective of someone trained in public economics who has encountered the enormous literature on experiments in decision-making and wonders what implications it has for the normative aspects of public policy. Though there are a few new results or models, to a large degree the book is synthetic in tone, bringing together disparate literatures and seeking some accommodation between them. It has had a long genesis. It began with a draft of a few chapters in 2000, but has expanded in scope and size as the literature on behavioural economics has grown. At some point I realised that the geometric growth of behavioural - search and the arithmetic growth of my writing were inconsistent with an am- tion to be exhaustive. As such therefore I have concentrated on particular areas of behavioural economics and bounded rationality. The resulting book is laid out as follows: Chapter 1 provides an overview of the rest of the book, goes through some basic de?nitions and identi?es themes.

Bounded Rationality

Author : Sanjit Dhami
Publisher : MIT Press
ISBN 13 : 0262369656
Total Pages : 553 pages
Book Rating : 4.2/5 (623 download)

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Book Synopsis Bounded Rationality by : Sanjit Dhami

Download or read book Bounded Rationality written by Sanjit Dhami and published by MIT Press. This book was released on 2022-07-12 with total page 553 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two leaders in the field explore the foundations of bounded rationality and its effects on choices by individuals, firms, and the government. Bounded rationality recognizes that human behavior departs from the perfect rationality assumed by neoclassical economics. In this book, Sanjit Dhami and Cass R. Sunstein explore the foundations of bounded rationality and consider the implications of this approach for public policy and law, in particular for questions about choice, welfare, and freedom. The authors, both recognized as experts in the field, cover a wide range of empirical findings and assess theoretical work that attempts to explain those findings. Their presentation is comprehensive, coherent, and lucid, with even the most technical material explained accessibly. They not only offer observations and commentary on the existing literature but also explore new insights, ideas, and connections. After examining the traditional neoclassical framework, which they refer to as the Bayesian rationality approach (BRA), and its empirical issues, Dhami and Sunstein offer a detailed account of bounded rationality and how it can be incorporated into the social and behavioral sciences. They also discuss a set of models of heuristics-based choice and the philosophical foundations of behavioral economics. Finally, they examine libertarian paternalism and its strategies of “nudges.”

Bounded Rationality and Policy Diffusion

Author : Kurt Weyland
Publisher : Princeton University Press
ISBN 13 : 1400828066
Total Pages : 313 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Bounded Rationality and Policy Diffusion by : Kurt Weyland

Download or read book Bounded Rationality and Policy Diffusion written by Kurt Weyland and published by Princeton University Press. This book was released on 2009-02-09 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do very different countries often emulate the same policy model? Two years after Ronald Reagan's income-tax simplification of 1986, Brazil adopted a similar reform even though it threatened to exacerbate income disparity and jeopardize state revenues. And Chile's pension privatization of the early 1980s has spread throughout Latin America and beyond even though many poor countries that have privatized their social security systems, including Bolivia and El Salvador, lack some of the preconditions necessary to do so successfully. In a major step beyond conventional rational-choice accounts of policy decision-making, this book demonstrates that bounded--not full--rationality drives the spread of innovations across countries. When seeking solutions to domestic problems, decision-makers often consider foreign models, sometimes promoted by development institutions like the World Bank. But, as Kurt Weyland argues, policymakers apply inferential shortcuts at the risk of distortions and biases. Through an in-depth analysis of pension and health reform in Bolivia, Brazil, Costa Rica, El Salvador, and Peru, Weyland demonstrates that decision-makers are captivated by neat, bold, cognitively available models. And rather than thoroughly assessing the costs and benefits of external models, they draw excessively firm conclusions from limited data and overextrapolate from spurts of success or failure. Indications of initial success can thus trigger an upsurge of policy diffusion.

Models of Bounded Rationality

Author : Univ Of Chicago
Publisher : Mit Press
ISBN 13 : 9780262519434
Total Pages : 336 pages
Book Rating : 4.5/5 (194 download)

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Book Synopsis Models of Bounded Rationality by : Univ Of Chicago

Download or read book Models of Bounded Rationality written by Univ Of Chicago and published by Mit Press. This book was released on 1997-07 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offering alternative models based on such concepts as satisficing(acceptance of viable choices that may not be the undiscoverableoptimum) and bounded rationality (the limited extent to which rationalcalculation can direct human behavior), Simon shows concretely whymore empirical research based on experiments and direct observation, rather than just statistical analysis of economic aggregates, isneeded.

Understanding Public Policy

Author : Paul Cairney
Publisher : Bloomsbury Publishing
ISBN 13 : 1350311979
Total Pages : 376 pages
Book Rating : 4.3/5 (53 download)

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Book Synopsis Understanding Public Policy by : Paul Cairney

Download or read book Understanding Public Policy written by Paul Cairney and published by Bloomsbury Publishing. This book was released on 2019-11-08 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fully revised second edition of this textbook offers a comprehensive introduction to theories of public policy and policymaking. The policy process is complex: it contains hundreds of people and organisations from various levels and types of government, from agencies, quasi- and non-governmental organisations, interest groups and the private and voluntary sectors. This book sets out the major concepts and theories that are vital for making sense of the complexity of public policy, and explores how to combine their insights when seeking to explain the policy process. While a wide range of topics are covered – from multi-level governance and punctuated equilibrium theory to 'Multiple Streams' analysis and feminist institutionalism – this engaging text draws out the common themes among the variety of studies considered and tackles three key questions: what is the story of each theory (or multiple theories); what does policy theory tell us about issues like 'evidence based policymaking'; and how 'universal' are policy theories designed in the Global North? This book is the perfect companion for undergraduate and postgraduate students studying public policy, whether focussed on theory, analysis or the policy process, and it is essential reading for all those on MPP or MPM programmes. New to this Edition: - New sections on power, feminist institutionalism, the institutional analysis and development framework, the narrative policy framework, social construction and policy design - A consideration of policy studies in relation to the Global South in an updated concluding chapter - More coverage of policy formulation and tools, the psychology of policymaking and complexity theory - Engaging discussions of punctuated equilibrium, the advocacy coalition framework and multiple streams analysis

Politics and the Architecture of Choice

Author : Bryan D. Jones
Publisher : University of Chicago Press
ISBN 13 : 9780226406374
Total Pages : 256 pages
Book Rating : 4.4/5 (63 download)

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Book Synopsis Politics and the Architecture of Choice by : Bryan D. Jones

Download or read book Politics and the Architecture of Choice written by Bryan D. Jones and published by University of Chicago Press. This book was released on 2001-05 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Politics and the Architecture of Choice draws on work in political science, economics, cognitive science, and psychology to offer an innovative theory of how people and organizations adapt to change and why these adaptations don't always work. Our decision-making capabilities, Jones argues, are both rational and adaptive. But because our rationality is bounded and our adaptability limited, our actions are not based simply on objective information from our environments. Instead, we overemphasize some factors and neglect others, and our inherited limitations—such as short-term memory capacity—all act to affect our judgment. Jones shows how we compensate for and replicate these limitations in groups by linking the behavioral foundations of human nature to the operation of large-scale organizations in modern society. Situating his argument within the current debate over the rational choice model of human behavior, Jones argues that we should begin with rationality as a standard and then study the uniquely human ways in which we deviate from it.

The Social Construction of Rationality

Author : Onno Bouwmeester
Publisher : Taylor & Francis
ISBN 13 : 1317530764
Total Pages : 217 pages
Book Rating : 4.3/5 (175 download)

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Book Synopsis The Social Construction of Rationality by : Onno Bouwmeester

Download or read book The Social Construction of Rationality written by Onno Bouwmeester and published by Taylor & Francis. This book was released on 2017-03-16 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are many different forms of rationality. In current economic discourse the main focus is on instrumental rationality and optimizing, while organization scholars, behavioural economists and policy scientists focus more on bounded rationality and satisficing. The interplay with value rationality or expressive rationality is mainly discussed in philosophy and sociology, but never in an empirical way. This book shows that not one, but three different forms of rationality (subjective, social and instrumental) determine the final outcomes of strategic decisions executed by major organizations. Based on an argumentation analysis of six high-profile public debates, this book adds nuance to the concept of bounded rationality. The chapters show how it is socially constructed, and thus dependent on shared beliefs or knowledge, institutional context and personal interests. Three double case studies investigating the three rationalities illustrate how decision makers and stakeholders discuss the appropriateness of these rationalities for making decisions in different practice contexts. The first touches more on personal concerns, like wearing a niqab or looking at obscene art exposed in a public environment; the second investigates debates on improving the rights and position of specific minorities; and the third is based on the agreement on instrumental reasons for two kinds of investments, but the cost arguments are regarded less relevant when social norms or personal interests are violated. The Social Construction of Rationality is for those who study political economy, economic psychology and public policy, as well as economic theory and philosophy.

Bounded Rationality

Author : Gerd Gigerenzer
Publisher : MIT Press
ISBN 13 : 9780262571647
Total Pages : 404 pages
Book Rating : 4.5/5 (716 download)

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Book Synopsis Bounded Rationality by : Gerd Gigerenzer

Download or read book Bounded Rationality written by Gerd Gigerenzer and published by MIT Press. This book was released on 2002-07-26 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a complex and uncertain world, humans and animals make decisions under the constraints of limited knowledge, resources, and time. Yet models of rational decision making in economics, cognitive science, biology, and other fields largely ignore these real constraints and instead assume agents with perfect information and unlimited time. About forty years ago, Herbert Simon challenged this view with his notion of "bounded rationality." Today, bounded rationality has become a fashionable term used for disparate views of reasoning. This book promotes bounded rationality as the key to understanding how real people make decisions. Using the concept of an "adaptive toolbox," a repertoire of fast and frugal rules for decision making under uncertainty, it attempts to impose more order and coherence on the idea of bounded rationality. The contributors view bounded rationality neither as optimization under constraints nor as the study of people's reasoning fallacies. The strategies in the adaptive toolbox dispense with optimization and, for the most part, with calculations of probabilities and utilities. The book extends the concept of bounded rationality from cognitive tools to emotions; it analyzes social norms, imitation, and other cultural tools as rational strategies; and it shows how smart heuristics can exploit the structure of environments.

Routledge Handbook of Bounded Rationality

Author : Riccardo Viale
Publisher : Routledge
ISBN 13 : 1317330803
Total Pages : 681 pages
Book Rating : 4.3/5 (173 download)

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Book Synopsis Routledge Handbook of Bounded Rationality by : Riccardo Viale

Download or read book Routledge Handbook of Bounded Rationality written by Riccardo Viale and published by Routledge. This book was released on 2020-12-02 with total page 681 pages. Available in PDF, EPUB and Kindle. Book excerpt: Herbert Simon’s renowned theory of bounded rationality is principally interested in cognitive constraints and environmental factors and influences which prevent people from thinking or behaving according to formal rationality. Simon’s theory has been expanded in numerous directions and taken up by various disciplines with an interest in how humans think and behave. This includes philosophy, psychology, neurocognitive sciences, economics, political science, sociology, management, and organization studies. The Routledge Handbook of Bounded Rationality draws together an international team of leading experts to survey the recent literature and the latest developments in these related fields. The chapters feature entries on key behavioural phenomena, including reasoning, judgement, decision making, uncertainty, risk, heuristics and biases, and fast and frugal heuristics. The text also examines current ideas such as fast and slow thinking, nudge, ecological rationality, evolutionary psychology, embodied cognition, and neurophilosophy. Overall, the volume serves to provide the most complete state-of-the-art collection on bounded rationality available. This book is essential reading for students and scholars of economics, psychology, neurocognitive sciences, political sciences, and philosophy.

Utility and Probability

Author : John Eatwell
Publisher : Springer
ISBN 13 : 1349205680
Total Pages : 330 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis Utility and Probability by : John Eatwell

Download or read book Utility and Probability written by John Eatwell and published by Springer. This book was released on 1990-02-23 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an excerpt from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This extract concentrates on utility and probability.

The rationality of public policies

Author : Ani Matei
Publisher : GRIN Verlag
ISBN 13 : 3656141207
Total Pages : 213 pages
Book Rating : 4.6/5 (561 download)

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Book Synopsis The rationality of public policies by : Ani Matei

Download or read book The rationality of public policies written by Ani Matei and published by GRIN Verlag. This book was released on 2012-02-27 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (postgraduate) from the year 2012 in the subject Politics - Political Theory and the History of Ideas Journal, , language: English, abstract: Nowadays, public policies represent the most adequate instrument of action in view to achieve the public interest, no matter we talk about European, national or local level. The rational approach of public policies, representing the topic of the current publication, is or should be a steady feature of public policy making and implementing. We find the origins of this approach both in key papers of political and administrative sciences, as well as in those concerning the theory of rational choice. In the current book, a direct, causal relationship is established between public administration, public policies and the theory of rational choice. The context of that relationship holds a great structural and functional complexity, demonstrating that the juxtaposition of the three mentioned fields is not enough. The mechanisms for their connection highlight links of various, non-linear intensities, in view of a finality which should be related every time to the public interest. The public interest is also defined further a process of public choice, more or less a rational one. It is quantified in terms of efficiency and effectiveness, thus supporting the need to introduce the cost-benefit or cost-effectiveness analyses as instruments for assessing the impact of public policies in our research. The book is structured in five chapters, attempting to analyse, in an integrating vision, a joint, interdisciplinary issue, which is boosted by public policies process on public administration in the context of incorporating the theory of rational choice. The first three chapters have a theoretical character, generally a descriptive one, the fourth and fifth chapters aim to identify the influences or “prints” of the theory of rational choice on public policy making at European and national level. The publication represents the outcome of researches achieved by authors in the framework of the Doctoral School in Administrative Sciences of the Faculty of Public Administration, National School of Political Studies and Public Administration, Bucharest.

Contemporary Approaches to Public Policy

Author : B. Guy Peters
Publisher : Springer
ISBN 13 : 1137504943
Total Pages : 220 pages
Book Rating : 4.1/5 (375 download)

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Book Synopsis Contemporary Approaches to Public Policy by : B. Guy Peters

Download or read book Contemporary Approaches to Public Policy written by B. Guy Peters and published by Springer. This book was released on 2016-05-25 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers a range of contemporary approaches to public policy studies. These approaches are based on a number of theoretical perspectives on decision-making, as well as alternative perspectives on policy instruments and implementation. The range of approaches covered in the volume includes punctuated equilibrium models, the advocacy-coalition framework, multiple streams approaches, institutional analyses, constructivist approaches, behavioural models, and the use of instruments as an approach to public policy. The volume concludes with a discussion of fundamental issues of democracy in public policy.

Bounded Rationality and Politics

Author : Jonathan Bendor
Publisher : Univ of California Press
ISBN 13 : 0520945514
Total Pages : 248 pages
Book Rating : 4.5/5 (29 download)

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Book Synopsis Bounded Rationality and Politics by : Jonathan Bendor

Download or read book Bounded Rationality and Politics written by Jonathan Bendor and published by Univ of California Press. This book was released on 2010-06-02 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Bounded Rationality and Politics, Jonathan Bendor considers two schools of behavioral economics—the first guided by Tversky and Kahneman’s work on heuristics and biases, which focuses on the mistakes people make in judgment and choice; the second as described by Gerd Gigerenzer’s program on fast and frugal heuristics, which emphasizes the effectiveness of simple rules of thumb. Finding each of these radically incomplete, Bendor’s illuminating analysis proposes Herbert Simon’s pathbreaking work on bounded rationality as a way to reconcile the inconsistencies between the two camps. Bendor shows that Simon’s theory turns on the interplay between the cognitive constraints of decision makers and the complexity of their tasks.

The Politics of Information

Author : Frank R. Baumgartner
Publisher : University of Chicago Press
ISBN 13 : 022619826X
Total Pages : 246 pages
Book Rating : 4.2/5 (261 download)

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Book Synopsis The Politics of Information by : Frank R. Baumgartner

Download or read book The Politics of Information written by Frank R. Baumgartner and published by University of Chicago Press. This book was released on 2015-01-02 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does the government decide what’s a problem and what isn’t? And what are the consequences of that process? Like individuals, Congress is subject to the “paradox of search.” If policy makers don’t look for problems, they won’t find those that need to be addressed. But if they carry out a thorough search, they will almost certainly find new problems—and with the definition of each new problem comes the possibility of creating a government program to address it. With The Politics of Attention, leading policy scholars Frank R. Baumgartner and Bryan D. Jones demonstrated the central role attention plays in how governments prioritize problems. Now, with The Politics of Information, they turn the focus to the problem-detection process itself, showing how the growth or contraction of government is closely related to how it searches for information and how, as an organization, it analyzes its findings. Better search processes that incorporate more diverse viewpoints lead to more intensive policymaking activity. Similarly, limiting search processes leads to declines in policy making. At the same time, the authors find little evidence that the factors usually thought to be responsible for government expansion—partisan control, changes in presidential leadership, and shifts in public opinion—can be systematically related to the patterns they observe. Drawing on data tracing the course of American public policy since World War II, Baumgartner and Jones once again deepen our understanding of the dynamics of American policy making.

The Science of "Muddling Through"

Author : Charles E. Lindblom
Publisher : Irvington Publishers
ISBN 13 : 9780829035049
Total Pages : pages
Book Rating : 4.0/5 (35 download)

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Book Synopsis The Science of "Muddling Through" by : Charles E. Lindblom

Download or read book The Science of "Muddling Through" written by Charles E. Lindblom and published by Irvington Publishers. This book was released on 1989-12-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Politics of Evidence-Based Policy Making

Author : Paul Cairney
Publisher : Springer
ISBN 13 : 1137517816
Total Pages : 152 pages
Book Rating : 4.1/5 (375 download)

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Book Synopsis The Politics of Evidence-Based Policy Making by : Paul Cairney

Download or read book The Politics of Evidence-Based Policy Making written by Paul Cairney and published by Springer. This book was released on 2016-04-11 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Politics of Evidence Based Policymaking identifies how to work with policymakers to maximize the use of scientific evidence. Policymakers cannot consider all evidence relevant to policy problems. They use two shortcuts: ‘rational’ ways to gather enough evidence, and ‘irrational’ decision-making, drawing on emotions, beliefs, and habits. Most scientific studies focus on the former. They identify uncertainty when policymakers have incomplete evidence, and try to solve it by improving the supply of information. They do not respond to ambiguity, or the potential for policymakers to understand problems in very different ways. A good strategy requires advocates to be persuasive: forming coalitions with like-minded actors, and accompanying evidence with simple stories to exploit the emotional or ideological biases of policymakers.

Politics and the Architecture of Choice

Author : Bryan D. Jones
Publisher : University of Chicago Press
ISBN 13 : 9780226406381
Total Pages : 252 pages
Book Rating : 4.4/5 (63 download)

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Book Synopsis Politics and the Architecture of Choice by : Bryan D. Jones

Download or read book Politics and the Architecture of Choice written by Bryan D. Jones and published by University of Chicago Press. This book was released on 2001-05 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Politics and the Architecture of Choice draws on work in political science, economics, cognitive science, and psychology to offer an innovative theory of how people and organizations adapt to change and why these adaptations don't always work. Our decision-making capabilities, Jones argues, are both rational and adaptive. But because our rationality is bounded and our adaptability limited, our actions are not based simply on objective information from our environments. Instead, we overemphasize some factors and neglect others, and our inherited limitations—such as short-term memory capacity—all act to affect our judgment. Jones shows how we compensate for and replicate these limitations in groups by linking the behavioral foundations of human nature to the operation of large-scale organizations in modern society. Situating his argument within the current debate over the rational choice model of human behavior, Jones argues that we should begin with rationality as a standard and then study the uniquely human ways in which we deviate from it.