Current Search: Boudreaux, Christopher (x)
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Title
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HABIT, EMULATION, AND SURVIVAL IN THE SUPERMARKET.
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Creator
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Brundage, Brendan, Boudreaux, Christopher, Florida Atlantic University, Department of Economics, College of Business
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Abstract/Description
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Substantivism helps us appreciate two views on the meaning of the economy: the institutional view and the neoclassical view. This study analyzes the behaviors of producers and consumers in the supermarket industry and finds that the neoclassical school lacks a realistic behavioral theory. We observe that institutional behavioral theory is closer to reality because it recognizes that consumers are affected by their social environment through habit and emulation, and producers are survival...
Show moreSubstantivism helps us appreciate two views on the meaning of the economy: the institutional view and the neoclassical view. This study analyzes the behaviors of producers and consumers in the supermarket industry and finds that the neoclassical school lacks a realistic behavioral theory. We observe that institutional behavioral theory is closer to reality because it recognizes that consumers are affected by their social environment through habit and emulation, and producers are survival maximizers. These social obstacles prevent humans from acting like homoeconomicus. We focus only on the supermarket industry, but this conclusion can be applied to all industries.
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Date Issued
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2020
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PURL
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http://purl.flvc.org/fau/fd/FA00013536
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Subject Headings
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Economics, Supermarkets, Consumer behavior, Economy
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Format
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Document (PDF)
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Title
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The Effects of Individual-level Knowledge on Firm Performance: An Evolutionary Perspective.
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Creator
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Collard, Lotta, Boudreaux, Christopher, Florida Atlantic University, Department of Economics, College of Business
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Abstract/Description
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Human knowledge is acknowledged as critically important to economic growth and prosperity. Economists focus on the past few decades’ emergence of a knowledge-based economy greatly dependent on individual-level knowledge. Knowledge is a key resource of many organizations, and the need for an educated workforce is believed to facilitate the creation, share, and use of firm-level knowledge going forward. An economy where knowledge is the main asset is very different from traditional production...
Show moreHuman knowledge is acknowledged as critically important to economic growth and prosperity. Economists focus on the past few decades’ emergence of a knowledge-based economy greatly dependent on individual-level knowledge. Knowledge is a key resource of many organizations, and the need for an educated workforce is believed to facilitate the creation, share, and use of firm-level knowledge going forward. An economy where knowledge is the main asset is very different from traditional production systems that depend on tangible assets. These tangible assets often rely upon scarce resources such as minerals, thereby forcing price fluctuations and potential disruptions in inventory and sales. Logistics and supply chain issues can dwindle as we have experienced during the recent pandemic. However, when knowledge is the firm’s main asset, the firm’s intangible asset will not decrease as sales increase. Knowledge also does not spoil or dwindle over time. Instead, knowledge will grow and evolve, and as the philosopher Aristotle once stated, “the whole is greater than the sum of its parts”. The fact that knowledge as the main asset does not decrease as a result of production makes the knowledge economy an interesting phenomenon to study and to understand.
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Date Issued
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2022
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PURL
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http://purl.flvc.org/fau/fd/FA00013984
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Subject Headings
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Knowledge economy, Knowledge, Evolutionary economics
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Format
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Document (PDF)
