The advent of artificial intelligence has changed many disciplines such as engineering, social science and economics. Artificial intelligence is a computational technique which is inspired by natural intelligence such as the swarming of birds, the working of the brain and the pathfinding of the ants. These techniques have impact on economic theories. This book studies the impact of artificial i...

Managerial decision-making and rationality are impacted and influenced by perceptual processes. This essay seeks to critically analyse and discuss perceptual processes as pivotal in any decision-making endeavour. Its importance is briefly discussed with particular emphasis placed on ways in which certain differences or biases in perception may have on individuals’ understanding of reality as we...

Subjectivity has always been a part of philosophical speculations. However, Immanuel 7 Kant is mentioned as the main figure to bring in subjectivity in modern philosophy by comparing 8 the Critique of Pure Reason with the Copernican revolution. We might include Descartes as well, and 9 not least the followers of Kant, like Fichte and Hegel. Yet none of these end up with subjectivity as 10 the o...

The field of modern financial economics assumes that people behave with extreme rationality, but they do not. Furthermore, people’s deviations from rationality are often systematic. Behavioral finance relaxes the traditional assumptions of financial economics by incorporating these observable, systematic, and very human departures from rationality into standard models of financial markets. We h...

The fundamental challenge of C2 agility is to increase the rationality of operations. An important vehicle for doing so is by increasing the rationality of assessment, from seeing rationality as a mere matter of “facts” and “objective analysis”, to seeing rationality as a function of human cognition in relation to the structures of the environment. At the heart of C2 lies the problem of dealing...