Neuroeconomics and the Firm
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Neuroeconomics and the Firm

Neuroeconomics and the Firm

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About the Book

The ideal firm has been studied over several centuries, yet little is known about what makes one successful and another fail. This pioneering book brings together leading researchers investigating the concept of the firm from a neuroscientific perspective. From the viewpoint of economics, the firm's purpose is to maximize shareholders' wealth; resources are commodities, each with its particular supply and demand curve that can be manipulated by the firm to its own benefit. Traditionally, the firm is focused on the strategic, operational and resource management objectives. The editors instead suggest that the objective of the firm is equal to the objectives of its workers. The definition and function of risk in decision-making, ethics, trust and the global financial crisis are all discussed. They are analyzed from the perspective of human bio-physiology, using scanning and hormonal analysis tools, with a focus on the implications for the bottom line of the firm. With experimental as well as theoretical and applied contributions, this book will benefit scholars and students of economics, business management, finance, organizational behavior, entrepreneurship, psychology, neuroscience and law. Practitioners of management, entrepreneurship and law firms will also find this book to be a captivating read.

Table of Contents:
Contents: Foreword David B. Audretsch Introduction Angela A. Stanton, Mellani Day and Isabell M. Welpe PART I: THE BLACK BOX 1. Neuroeconomics of Environmental Uncertainty and the Theory of the Firm Helen Pushkarskaya, Michael Smithson, Xun Liu and Jane E. Joseph 2. Risk and Ambiguity: Entrepreneurial Research from the Perspective of Economics Angela A. Stanton and Isabell M. Welpe 3. What You Think Is Not What You Think: Unconsciousness and Entrepreneurial Behavior Eden S. Blair PART II: TRUST, GREED AND THE BLACK BOX 4. Using Brains to Create Trust: A Manager’s Toolbox Paul J. Zak and Amos Nadler 5. The New Millennium’s First Global Financial Crisis: The Neuroeconomics of Greed, Self-interest, Deception, False Trust, Overconfidence and Risk Perception Donald T. Wargo, Norman A. Baglini and Katherine A. Nelson PART III: INSIDE THE BLACK BOX: DECISIONS BY HORMONES 6. In the Words of Larry Summers: Gender Stereotypes and Implicit Beliefs in Negotiations Laura J. Kray, Connson C. Locke and Michael P. Haselhuhn 7. Ovulatory Shifts in Women’s Social Motives and Behaviors: Implications for Corporate Organizations Kristina M. Durante and Gad Saad 8. Hormonal Influence on Male Decision-making: Implications for Organizational Management Angela A. Stanton 9. Dopamine, Expected Utility and Decision-making in the Firm Donald T. Wargo, Norman A. Baglini and Katherine A. Nelson PART VI: ENTREPRENEURIAL PROPENSITY 10. An Economic and Neuroscientific Comparison of Strategic Decision-making Theresa Michl and Stefan Taing 11. Mapping Neurological Drivers to Entrepreneurial Proclivity Robert Smith 12. Embodied Entrepreneurship: A Sensory Theory of Value Frédéric Basso, Laurent Guillou and Olivier Oullier PART V: ORGANIZATIONAL CULTURE AND ETHICS 13. What Neuroeconomics Informs Us About Making Real-World Ethical Decisions in Organizations Donald T. Wargo, Norman A. Baglini and Katherine A. Nelson 14. Culture, Cognition and Conflict: How Neuroscience Can Help to Explain Cultural Differences in Negotiation and Conflict Management John F. McCarthy, Carl A. Scheraga and Donald E. Gibson 15. Brain and Human Behavior in Organizations: A Field of Neuro-Organizational Behavior Constant D. Beugré Index


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Product Details
  • ISBN-13: 9781848444409
  • Publisher: Edward Elgar Publishing Ltd
  • Publisher Imprint: Edward Elgar Publishing Ltd
  • Height: 234 mm
  • No of Pages: 352
  • ISBN-10: 1848444400
  • Publisher Date: 31 Mar 2010
  • Binding: Hardback
  • Language: English
  • Width: 156 mm


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