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.
Tag Archives: Christian Zehnder
Christian Zehnder is a professor of Organizational Behavior. His work focuses on behavioral economics, a line of research that combines insights from economics and psychology.
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Leader corruption depends on power and testosterone
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
The management detectives: an evidence based approach to investigating management problems
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.