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Decision Making and Economics
Bhuvana Sunil, India
What is the link between traditional economics and decision making sciences?
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Link Between Economy and Decision Making SciencesGS RADJOU, CEO, France 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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