A common criticism of economics is that economic theory often fails to predict real world events, spectacularly so in some cases. More recently, however, a more empirical approach to economics has emerged that combines economic theory, psychology, and laboratory experimentation, in order to better understand decision making in real life situations.
7 min read Continue reading Managing the expectations trade-off: Why flexible agreements often prove counter-productive →
For centuries, philosophers and scientists have been interested in how people relate to power. Now a new study has revealed that the testosterone levels of leaders can influence their behavior and induce them to make decisions to solely increasing their personal payouts.
Video: 14 min Continue reading Leader corruption depends on power and testosterone →
When chemists do drug development they tend not to rely on hunches. Fortunately for the unwell, they prefer the more scientific approach of clinical trials. Yet, when managers tackle business related dilemmas they seem happy to trust to gut feelings and intuition.
4 min read Continue reading The management detectives: an evidence based approach to investigating management problems →