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Romantics, mercenaries and behavioral rationality

Abstract:

Behavioral decision research focuses on cognitive biases and other barriers to economic rationality. However, if cognitive biases are costly to eliminate, the second-best solution to bounded rationality may be less rationality rather than more. I define the concept of behavioral rationality and discuss two extreme forms of strategizing, which I call Romantic and Mercenary. Using 20th century humanitarian Albert Schweitzer as a case study, I discuss the optimization of economic and behavioral...

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Publication status:
Published
Peer review status:
Peer reviewed

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Publisher copy:
10.1108/S0742-332220180000039011

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Institution:
University of Oxford
Division:
Social Sciences Division
Department:
Said Business School
Oxford college:
St Hugh's College
Role:
Author
Publisher:
Emerald Publishing
Journal:
Advances in Strategic Management More from this journal
Volume:
39
Pages:
151 - 165
Publication date:
2018-09-21
Acceptance date:
2018-03-09
DOI:
ISSN:
0742-3322
Pubs id:
pubs:829562
UUID:
uuid:a14556d8-8131-4e4b-bf39-146cb9a12489
Local pid:
pubs:829562
Source identifiers:
829562
Deposit date:
2018-03-14

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