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Bounded Rationality in Decision-Making: How Cognitive Shortcuts and Professional Values May Interfere with Market-Based Regulati

Hardback

Main Details

Title Bounded Rationality in Decision-Making: How Cognitive Shortcuts and Professional Values May Interfere with Market-Based Regulati
Authors and Contributors      By (author) Helle Nielsen
SeriesIssues in Environmental Politics
Physical Properties
Format:Hardback
Pages:256
Dimensions(mm): Height 216,Width 138
Category/GenreEconomic systems and structures
ISBN/Barcode 9780719079924
ClassificationsDewey:330.122
Audience
Tertiary Education (US: College)
Undergraduate
Postgraduate, Research & Scholarly
Professional & Vocational
Illustrations Illustrations, black & white

Publishing Details

Publisher Manchester University Press
Imprint Manchester University Press
Publication Date 19 April 2010
Publication Country United Kingdom

Description

Challenging standard economic models, this book shows how farmers tend to use cognitive shortcuts in their decision-making and how their professional pride frequently outweighs profit considerations. This indicates that environmental regulation based on economic incentives may not be as effective as economic theorists and ex ante policy analysts maintain. Rather than assuming that regulations respond to incentive-based policies, this book examines the ways in which they do. Bounded rationality in decision-making has typically been studied in a laboratory setting, but this book uses original empirical research to demonstrate how bounded rationality plays out in the real world, examining the responses of Danish farmers to fertiliser regulation and their decision-making processes. The book will be of interest to a broad range of scholars within the fields of public policy, public administration, political science, behavioural economics and sociology. -- .

Author Biography

Helle Nielsen is a Social Scientist in policy analysis at the National Environmental Research Institute, Aarhus University -- .