Search results

1

Rynki finansowe w warunkach ograniczonej racjonalności

100%

Ambroziak Ł.

Ekonomia XXI Wieku

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2014

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issue 3(3)

76-93

EN

In this paper an attempt was made to clarify the reasons of price movements on financial markets in the conditions of decision-makers bounded rationality. The emphasis of rationality of individuals, which is limited by information they have and the cognitive limitations of their minds, allowed to discuss the hypothesis of efficient markets and an assumption of their rational expectations. As a results of these considerations a model of financial markets was formulated in which an investor could choose different investment strategies and decide to change originally chosen ones as a consequence of their bounded rationality.

2

Overcoming Leadership Limitations: A Theoretical Study of Leadership Behaviors and Methods

100%

Korzynski P.

Management and Business Administration. Central Europe

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2014

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vol. 22

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issue 4

26-38

EN

Purpose: The main purpose of this study is to present leadership limitations that influence leadership effectiveness and examine if it is possible to overcome these limitations. Methodology: The study presents the results of literature analyses and the findings of the recent research studies on leadership. It also refers to literature items that might be helpful in analyzing the leadership limitations. Conclusions: The study indicates that some leadership behaviors that fall into a particular category are useful in understanding and reflecting on their limitations, while other leaders’ actions enable them to overcome those limitations or use them to support leadership effectiveness. Research limitations: This is a theoretical and conceptual study. It formulates propositions to further empirical research studies. Originality: The study analyzes a number of behaviors from different leadership theories. These behaviors fall into four meta-categories: situational, transformational, authentic and boundary spanning. The study also provides information about leadership styles that are useful in understanding and overcoming leadership limitations.

3

The impact of mathematical competences and cognitive effort on the appearance of the framing effect

100%

Kaczmarek A., Przybyszewski K., Rutkowska D., Sosnowska H.

Economics and Business Review

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2018

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vol. 4(18)

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issue 2

64-79

EN

The aim of this paper is to check whether mathematical competences influence some manifestations of bounded rationality. A special example of bounded rationality called “framing effect” is dealt with to analyze empirically the thesis that mathematical competences and cognitive effort may reduce the framing effect. Two kinds of cognitive effort: probabilistic and deductive are analysed. Experiments were conducted using samples of Polish students, both mathematically and business oriented. As an example of a framing situation an example called “Asian disease”, (the first analyzed and the most popular example of the framing effect), is considered. The thesis that a mathematical background may diminish the occurrence of the framing effect was partly confirmed.

4

Institutions and Modernity

88%

Morawski W.

Management and Business Administration. Central Europe

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2013

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vol. 21

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issue 3(122)

30-49

EN

Purpose: Modernity consists of many confl icting aspects: It brings many empty promises, yet has resulted in new institutions that create bridges between the values and interests of millions of people who seek freedom, prosperity, quality of life, strengthened democracy and social justice. In this paper I attempt to a gain and loss account against modernity, because institutional rules are not only conducive to cooperative interactions, but to hostile interactions as well. People are not always guided by moral commitment, but rather more often driven by cold calculation or coercion. Methodology: Modernity has at least three defi nitions. The fi rst defi nition is based on ideas that took over the imagination of the era. The second defi nition is based on an analysis of the behavior of people who respond to reason as well as emotion and believe that they act more rationally than their ancestors or the traditional “others”. The third defi nition is the one closest to my heart, consisting of the use of institutional categories. Institutions offer practical ways of connecting ideas and people. The challenge for them is the result of deepening local and national interdependencies, but increasingly often also regional (e.g. European) and global. Interdependencies are the result of the scientifi c and technological revolution, global markets, global governance mechanisms, the emergence of new social forces and cultural confl icts (against the background of reconciling identity and differences). Conclusions: The most important task is to identify the mechanisms of complex systems so that people know how to act under conditions of uncertainty, risk and crisis. Hence, the expectations toward institutions often exceed their abilities. Even though new institutions are being created and old ones are being fixed, we are witnessing and participating in, institutional paralysis and the decay (e.g. corruption). In this situation, it is imperative not only to improve control methods (e.g. legal), but also to resort to normative systems (values and identity) and knowledge (competence and skills). The source of this paralysis is often man himself, convinced of his own maturity and equipped with all sorts of rights, but manipulated on a scale not yet seen in the past. We are experiencing our own struggle as to what roles are closest to us, e.g. consumer, investor, or citizen? Research Implications: Modernity is an emblematic, but confusing term. Therefore, the most important task is to identify the activities of complex systems, so that people know how to act under conditions of uncertainty, risk and crisis. People – agencies must operate in structures that defi ne the boundaries of their actions. The main task of social sciences is to identify the conditions for the construction of successful confi gurations of agencies and structures. Originality: Sometimes the “old” is better than the “new”, but to adopt this as a principle of life would be a mistake. It is better to think that the “new” is a metamorphosis of the “old”, sometimes expected, sometimes not. Based on the example of capitalism – fi rst commercial capitalism, then industrial capitalism, and today fi nancial capitalism – I demonstrate how the mechanisms of institutional morphogenesis work, with emphasis on structured cooperation and organized confl ict.

5

Planner-Doer - Self-control and Regular Study

88%

Bentkowska K.

e-mentor

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2019

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issue 5 (82)

36-42

EN

The systematic acquisition of knowledge is an important skill. Nevertheless, students seem to have problems with proper planning of their education and preparing their tasks on time. Referring to behavioral economics, this can be explained with the planner and doer model. This draws attention to the problems with self-control and describes the dilemma caused by internal tension between favorable long-term plans and short-term actions distracting attention from implementation of the former. The aim of the article was to analyze student activity in e-learning classes. The analysis concerned a group of students regularly performing assigned tasks and the spread of their activities within the given period. It also allowed investigations into whether the time of submitting the task affected its quality and whether systematic work during the semester affected the exam result. The analysis of student activity in the e-learning classes shows that: • There was a large group of students regularly submitting tasks, but there was also a group who never prepared any of them. • The spread of activity over particular days showed that most posts were published on the last two days of the given period. • There was a relationship between the time of submitting the task and its evaluation – the posts from the final two days received a lower average number of points than those from previous days. • There was a positive relationship between the ongoing performance of the tasks and the exam results. The analysis presented here is a preliminary study but shows some trends among the students.

6

Making decisions in an ever-changing environment - A research agenda

88%

Pataki B., Padar K.

Perspectives of Innovations, Economics and Business

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2013

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vol. 13

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issue 1

33-42

EN

Simon recognized the limitations of the classical normative decision theory and established descriptive theory. His concept of bounded rationality and administrative behavior was a big step ahead, but the world has changed dramatically since then. Multiple, continuous changes have become normal, which brings up new problems on the decision maker’s and on the organization’s level as well. It became usual that the decision maker is not able to define preferences for lack of knowledge and have to learn or delegate much more frequently than before. In the same time the organization should be more resilient or nimble in this ever-changing environment. The authors outline a research agenda on both levels: some about the continuous learning and frequent delegating, and some about the HRM and IT-management issues of organizational nimbleness.

7

The Use of Behavioral Finance in the Wealth Management Process

88%

Opolski K., Potock T.

Finansowy Kwartalnik Internetowy e-Finanse

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2011

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vol. 7

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issue 4

55-65

EN

The economic theories taking into consideration human behavior and based on the achievements of psychology, sociology, anthropology have been evolving at a blistering pace over the last decade. Owing to that, the behavioral finance has become one of the fastest developing academic areas focused on the analysis of financial markets’ behavior. The following presentation of the most common mistakes made by investors will allow the readers of this publication to develop more effective investment strategies and establish control of the customer service in the cooperation between advisors and clients of the Wealth Management services.

8

Students’ perceived risk and investment intention: the effect of brand equity

88%

Washington M., Shirley E., Lisset G., Regina R.

Management & Marketing

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2015

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vol. 10

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issue 3

208-225

EN

Emerging markets bring out the question of motivation to include of new investors in the market for financial securities often arises. The purpose of this study is to analyze how brands influence the investment intention of young potential investors. Specifically, the relationship between consumer based brand equity - according to Aaker’s multidimensional conceptualization - and investment intention, mediated by perceived risk, is analyzed. The study contributes to the literature in two ways: (1) based on the revision made, no study has analyzed Aaker’s brand equity construct in investment decisions; (2) studies linking brand aspects to investment decisions have not examined the mediating role of perceived risk. Through an experiment, where perceived risk and investment intention in a famous brand were measured as differences from fictitious brands, the following results were found: (1) the investment intention in a famous brand is higher than in a non-famous one, once controlled for risk and return; (2) the higher the brand equity, the lesser the perceived risk of investing in the famous brand, and the higher the investment intention; (3) the perceived quality of a brand’s products was the dimension by which the effect of brand equity is transmitted. Involvement with the investment task and cognitive ability, at an individual level, the relative size of comparable firms, and the risk and return of investment alternatives were introduced as control variables.

9

Potoki w sieciach transportowych. Rozkład przestrzenny i jego własności dynamiczne

75%

Dorosiewicz S.

Przegląd Statystyczny

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2012

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vol. 59

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issue 2

138-148

PL

Praca dotyczy zagadnienia przydziału ruchu. Sformułowano dynamiczny model opisujący prze-strzenny rozkład potoków w sieci transportowej. Zbadane zostały własności dynamiczne tego modelu w kilku przypadkach szczególnych.

EN

This paper refers to Dynamic Traffic Assignment Problem. A consecutive dynamic model of traf-fic flows is formulated. Some of its dynamical properties (including existence of chaotic solutions and bifurcations) are examined in special cases.

10

Locating Financial Capability Within Capability Approach – Theoretical Survey

63%

Potocki T.

Gospodarka Narodowa. The Polish Journal of Economics

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2022

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vol. 309

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issue 1

96-106

PL

Integracja teorii możliwości wyboru z koncepcją możliwości wyborów finansowych pozostaje otwartym problemem badawczym. Celem artykułu jest interdyscyplinarna analiza teoretyczna możliwości wyborów finansowych oparta na pierwotnej wersji teorii możliwości wyboru zaproponowanej przez A. Sena. W artykule podjęto próbę wykorzystania kluczowych komponentów teorii możliwości wyboru do stworzenia teoretycznych założeń koncepcji możliwości wyborów finansowych. Ponadto w artykule wykorzystano dorobek racjonalności ograniczonej H. Simona i dalszych jej rozszerzeń w ramach racjonalności adaptacyjnej. Do osiągnięcia celów wykorzystano analizę koncepcyjną. Pozwoliła ona na lepsze zrozumienie samego pojęcia możliwości wyborów finansowych i zaadresowanie trzech głównych wyzwań w jej zdefiniowaniu. W ten sposób zaproponowano bardziej transparentne i spójne podejście wykorzystujące dorobek teoretyczny w pracach nad możliwościami wyborów finansowych. Dodatkowo uzupełniono literaturę w tym zakresie o klasyczne prace A. Sena i ich dalsze rozwinięcia oferowane szczególnie w pracach I. Robeyns. Z tego powodu najważniejszym wnioskiem niniejszego artykułu jest rekomendacja wykorzystania prac A. Sena nad teorią możliwości wyboru jako warunków ramowych do definiowania możliwości wyborów finansowych.

EN

The integration of financial capability with the capability approach remains an open and challenging issue. This paper offers a theoretical exploration of the financial capability framed within Sen’s capability approach in an interdisciplinary way. It focuses on the fundamental conceptual aspects of the capability approach, and on how we may use that framework for the development of financial capability theory. Moreover, the presented theoretical study addresses the issue of the critical role of constrained choice using Simon’s bounded rationality and ecological rationality approach. We used one type of research and it is conceptual analysis. It helped us to better understand and explain the concept of financial capability and address three important issues related to that concept. In this paper, we offer a more transparent and consistent approach that takes into account theoretical evidence on financial capability. We complemented the financial capability literature by highlighting the critical role of the classic works of A. Sen and more recently the influential work of I. Robeyns. Thus, our headline finding is that using A. Sen’s approach as a general framework for the financial capability may offer a more transparent and consistent approach to define financial capability.

11

Racjonalne przedsiębiorstwo jako racjonalne założenie prawodawcy w obszarze prawa konkurencji — zarys problemu

63%

Kociubiński J.

Przegląd Prawa i Administracji

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2020

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vol. 120

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issue Tom 2

393 - 403

PL

Niniejszy artykuł poświęcony jest zagadnieniom związanym z zakresem i ograniczeniami stosowania założenia o racjonalności profesjonalnych uczestników rynku przez prawodawców i regulatorów w obszarze prawa konkurencji. Analizie poddane zostały kwestie interpretacji pojęcia racjonalności ekonomicznej w naukach prawnych, możliwości prognozowania racjonalnego kursu przedsiębiorstw i ocena, czy wykorzystanie dorobku nauk ekonomicznych może przełożyć się na racjonalność prawodawcy.

EN

The paper is dedicated to issues related to the extent and limits of the rational undertaking assumption by lawmakers and regulators in the sphere of competition law. The analysis covers the issue of interpretation of economic rationality, the ability of forecasting undertakings’ rational behaviour and how drawing from economic acquis could translate into rational lawmaking.

12

Rola badań poświęconych szczęściu w teorii ekonomii dobrobytu

63%

Potocki T., Wierzbiński B.

Nierówności społeczne a wzrost gospodarczy

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2014

|

issue 37

43-66

PL

Dokonująca się rewolucja psychologiczna w ekonomii ma znaczący wpływ na rozwój i jej przyszłość m.in. w zakresie kształtowania polityki społecznej, nierówności społecznych, teorii wzrostu gospodarczego, społecznego kontekstu racjonalnych wyborów i może pomóc w budowie nowych mierników psychologicznych takich jak tych związanych ze szczęściem. Celem niniejszego artykułu jest podkreślenie rosnącej roli, jaką odgrywa ekonomia szczęścia w teorii ekonomii dobrobytu, jak również analizy zależności pomiędzy postrzeganym poziomem szczęścia, zadowolenia z życia i sytuacji finansowej w krajach rozwijających się i rozwiniętych. Wyniki badań pokazują, że zależność pomiędzy szczęściem a satysfakcją z życia jest ujemnie skorelowana. Dodatkowo zależność ta utrzymuje się przez cały okres badania. Oznacza to, że szczęście nie jest skorelowane tylko i wyłącznie z wolnością polityczną, a zadowolenie z życia z sytuacją ekonomiczną. Wyniki dla Polski i innych krajów postsocjalistycznych są zgodne z wynikami badań dla wybranych krajów rozwiniętych tj. Szwajcarii i Japonii zwanych w literatu-rze pomaterialistycznymi. Tym samym istnieje konieczność bardziej wnikliwej analizy domen szczęścia i satysfakcji z życia i wewnętrznych zależności pomiędzy nimi.

EN

The ongoing development in behavioral economics has significant influence on the economic poli-cy in such areas as shaping social policies, economic inequalities, theory of economic growth, social context of rationality, and may help to introduce socio-psychological ratios such as happiness indicators. The aim of the paper is to present the constantly growing contribution of happiness studies to welfare economics research, as well as to explain the relation between perceived happiness, life satisfaction and financial satisfaction in transition and developed countries. The research proves that the relation between happiness and life-satisfaction is complex and nega-tively correlated. Moreover, this regularity does not change throughout all research period. It means that happiness depends not only on political and social freedom, and at the same time life satisfaction on economic conditions. The obtained results for Poland and post-socialist countries of Central-East coin-cide with the ones obtained for highly-developed countries, like Switzerland and Japan, which are de-scribed in literature as post-materialism countries. The research shows that there are still limitations to the well-being measures and a more insightful analysis of satisfaction domains needs to be carried out.

13

The impacts of cognitive biases and heuristics on Covid-19 preventive behaviors

63%

Sevgin M.

Przegląd Politologiczny

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2021

|

issue 4

143-149

PL

Choroba pandemiczna Covid-19 stała się ostatnio przedmiotem badań wielu dyscyplin naukowych, ponieważ obszar jej oddziaływania jest duży i zagraża milionom istnień ludzkich. Jedną z ważnych dyscyplin jest polityka publiczna, ponieważ jej charakter może łatwo wpływać na rozprzestrzenianie się wirusa Covid-19. Zakłada się, że irracjonalne skłonności jednostki mogą zwiększyć rozprzestrzenianie się choroby, ponieważ są one silnie skorelowane z najważniejszymi działaniami zapobiegającymi rozprzestrzenianiu się choroby, takimi jak izolacja, noszenie maski i mycie rąk. Co więcej, polityka publiczna może być skuteczna w okresie pandemii, jeśli uwzględnia irracjonalne skłonności jednostki. Dlatego też w niniejszym opracowaniu przedstawione zostanie psychologiczne podłoże tego, dlaczego jednostki nie przestrzegają przepisów, które mogą zmniejszyć rozprzestrzenianie się wirusa Covid-19: uprzedzenia poznawcze i heurystyki.

EN

The covid-19 pandemic disease became part of the study of many scientific disciplines recently since its impact area is large and it threatened millions of lives. One of the important disciplines is public policy since the characteristics may easily influence the spread of covid-19. It is assumed that an individual’s irrational tendencies can increase this spread since they are highly correlated with the most important actions of prevention of the spread such as isolation, wearing a mask, and washing hands. Moreover, public policies can be effective in such a pandemic period if they take into consideration of individual’s irrational tendencies. Hence, in this study the psychological background of why individuals do not follow the regulations that can decrease the spread of covid-19 will be presented: cognitive biases and heuristics.

14

Rola instytucji w programie ekonomii postwalrasowskiej Davida Colandera stanowiącej fundament nowej ekonomii złożoności (complexity economics)

51%

Kędzierski M.

Zarządzanie Publiczne / Public Governance

|

2013

|

issue 2-3(24-25)

90-101

PL

Głównym celem artykułu jest (1) przedstawienie podstawowych założeń ekonomii postwalrasowskiej, nurtu teoretycznego zapoczątkowanego w latach dziewięćdziesiątych XX w. przez amerykańskiego historyka myśli ekonomicznej Davida Colandera. Podważa on fundamentalne twierdzenia XX-wiecznej ekonomii, które czerpią z koncepcji naukowych Leona Walrasa, zwłaszcza w zakresie teorii ogólnej równowagi ekonomicznej. Jednym z kluczowych elementów programu ekonomii postwalrasowskiej jest uwzględnienie instytucji jako pozacenowego mechanizmu koordynacji procesów gospodarczych. Pozostałymi celami niniejszego tekstu są: (2) wskazanie sposobu, w jaki elementy heterodoksyjnych szkół ekonomii włącza się do głównego nurtu w ramach nowego zjawiska, jakim jest tzw. ekonomia złożoności (complexity economics), oraz (3) przedstawienie propozycji koniecznych zmian w zakresie metodologii ekonomii. W ramach zakończenia przedstawione zostaną (4) rozważania na temat implikacji koncepcji teoretycznych Colandera i innych przedstawicieli nowego nurtu ekonomii dla polityki gospodarczej.

EN

The main aim of the article is to present the basic elements of post-Walrasian economics, an economic school initiated in the 1990s by David Colander, American historian of economic thought. Colander questions the fundaments of mainstream economics, based inter alia on Leon Walras s theory of general equilibrium. One of the key elements of the post-Walrasian economics is the acknowledgement of institutions as non-price coordination mechanism in the economy. The article discusses how elements of heterodox economic schools are introduced into the mainstream economics within the new complexity economics, and suggests essential amendments to the methodology of economics. As a conclusion, the author presents the implication of the economic thought of David Colander and other representatives of complexity economics for the economic policy.

15

Sens wyrażenia ‘teoria spiskowa’, czyli jak odróżnić teorię spiskową od niespiskowej

51%

Łukowski P., Łódzki U.

Internetowy Magazyn Filozoficzny Hybris

|

2016

|

vol. 33 (2)

EN

‘Conspiracy theory’ is especially popular term used by journalists in Poland. Alas, this name is understood in an intuitive and journalistic manner only, and has an eristic use. Janusz Guzowski in his paper tries to establish its definitional sense. Unfortunately, his proposal is useless, because conspiracy mentality is defined by common and fundamental features typical for everyday and even scientific thinking. Such an approach has some undesirable consequence: a theory is called conspiracy because in somebody’s opinion it is conspiracy. That is why, Guzowski’s approach is here called intuitive-content, because such a naming is arbitrary and intuitive and depends on the content of the theory. In our paper there is proposed an opposite context-free approach, which is closely relative to Chomksy’s opinion. Thus a theory is recognizes as conspiracy, if and only if, it is ignored by scientists.

Refine search results

Rynki finansowe w warunkach ograniczonej racjonalności

Overcoming Leadership Limitations: A Theoretical Study of Leadership Behaviors and Methods

The impact of mathematical competences and cognitive effort on the appearance of the framing effect

Institutions and Modernity

Planner-Doer - Self-control and Regular Study

Making decisions in an ever-changing environment - A research agenda

The Use of Behavioral Finance in the Wealth Management Process

Students’ perceived risk and investment intention: the effect of brand equity

Potoki w sieciach transportowych. Rozkład przestrzenny i jego własności dynamiczne

Locating Financial Capability Within Capability Approach – Theoretical Survey

Racjonalne przedsiębiorstwo jako racjonalne założenie prawodawcy w obszarze prawa konkurencji — zarys problemu

Rola badań poświęconych szczęściu w teorii ekonomii dobrobytu

The impacts of cognitive biases and heuristics on Covid-19 preventive behaviors

Rola instytucji w programie ekonomii postwalrasowskiej Davida Colandera stanowiącej fundament nowej ekonomii złożoności (complexity economics)

Sens wyrażenia ‘teoria spiskowa’, czyli jak odróżnić teorię spiskową od niespiskowej