Decision Making and Economics

Decision-making and Valuation

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Bhuvana Sunil

Decision Making and Economics

What is the link between traditional economics and decision making sciences?

  GS RADJOU
CEO, France
 

Link Between Economy and Decision Making Sciences

There are lots of ways to decide. Some of us drop dices...
1 - Positive economics: For example take smoking cigarettes. During an economical crisis citizens smoke more because of the stress of the situation: there is a clear statistical link between unemployment and added tobacco consumption of users.
2 - Normative economics: It is about judgement. A policy to put a tax on tobacco may not be efficient for certain segments of societies.

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Decision-making and Valuation



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