How Behavioral Economics Influences Management Decision-Making - 1st Edition - ISBN: 9780128135310

How Behavioral Economics Influences Management Decision-Making

1st Edition

A New Paradigm

Authors: Kelly Monahan
Paperback ISBN: 9780128135310
Imprint: Academic Press
Published Date: 1st August 2018
Page Count: 300
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Table of Contents

1. The changing nature of work
2. Reexamining management assumption in a knowledge economy
3. Intellectual Capital
4. Universal employee needs linked to knowledge creation and sharing
5. Managerial Mindset shift is needed to generate intellectual capital
6. Biases get in the way


Anchored in empirical evidence from field and laboratory behavioral experimentation, Managerial Decision-Making with Behavioral Economics critically reexamines the management function in 21st century workplaces. Developing productive decisions with staff in the talent-driven global economy increasingly requires the development of ‘intrinsic’ meaning in work, a human-centered workplace culture, and human-focused working practices. Often these are in opposition to the ‘command and control’ approach recommended by classical management theory. Implementing a change to the latter requires new management skills, particularly as they address the motivation, coaching and development of staff. Informed by new advances in behavioral economics, this book seeks to examine and explain the real-world behaviors of employees, and re-train decision-makers in the creation and development of intellectual capital within the organization, thereby helping them develop these skills. It explores well-observed but rarely understood features of employee cognition and irrationality, recommending when heuristics and similar behavioral shortcuts are to be deployed, and when avoided. It also provides an effective framework on how to develop skills as they pertain to hiring, performance management, change management, employee engagement and goal setting.

Key Features

  • Provides a framework to apply behavioral principles simply and effectively to organizations of any size
  • Focuses on agent motivations and behavior and how they directly impact talent management in the knowledge economy
  • Highlights empirical studies detailing the impact of heuristics on hiring, performance management, change management, employee engagement and goal setting decisions


Management at all levels, senior managers, HR directors, investment managers, financial controllers and treasurers are a core audience. Graduate management, business, finance, accounting or economics students


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© Academic Press 2018
Academic Press
Paperback ISBN:

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About the Authors

Kelly Monahan Author

Kelly Monahan (Deloitte Consulting) completed her doctoral studies in organizational leadership, focusing her primary research efforts on human resource development. She is currently a senior consultant within Deloitte’s Center for Integrated Research on the intersection of behavioral economics and talent issues. She has published within academic journals (Journal of Strategic Management) as well as extensively within the Deloitte Review. Prior to her research career, Monahan served as an HR Business Partner to the CFO of Hartford Funds, gaining firsthand experience regarding the challenges facing practitioners seeking to create organizational value through its intellectual capital.

Affiliations and Expertise

Deloitte Services, Conshohocken, PA, USA