One of the most interesting things about behavioural economics is that it is quite practical. The findings can apply in the public sphere. Such application can often be very direct. Furthermore, many of the ideas generated in behavioural economics are simple tweaks. Tweaks can be very cheap to implement. This, therefore, can make the ideas popular…
Category: Management Theory
Data Without Small T Theory
Standard Deviations Gary Smith’s impressive Standard Deviations book concerns an important point. Statistically inclined people often seem to miss that theory small t matters. Smith is keen to note that data isn’t enough on its own. “Data without theory… is treacherous” (Smith, 2014, page 233). Smith describes a case of a cholera outbreak. This outbreak…
Simpson’s Paradox: Data can be very confusing
One of the strangest things in statistics is Simpson’s paradox. The paradox happens when two sets of data each show the same result. Yet, when you combine the data into a single data set the combined table gives you a different result. Data Can Be Confusing Smith explains this using a click data example. In the data, he shows when you look at…
Nudging: Calm Down It Really Is Not The End Of Freedom
Mark D. White has written an ominously titled book “The Manipulation of Choice: Ethics and Libertarian Paternalism”. He really doesn’t like the sort of Nudging proposed by Thaler and Sunstein in their book, Nudge. I think that he needs to chill out. He gets excited about minor philosophical issues while ignoring big social issues. Nudges…
The Three Stages of Business Analytics
Thomas Davenport is one of the best know voices in the field of business analytics. He has a book with Jinho Kim which discusses how individual business people can best manage their work in a world where analytics are a key part of many business strategies. The aim of the book is to enable managers,…
The Red Queen And Implications For Best Practice
It is hard to spend any time at a business school without hearing the phrase best practice. We teach students best practice. Junior professors seek hints from senior folk on best practice. Even schools regularly go through bouts of benchmarking to see if they are adopting best practice. Best practice essentially is something that gets the most…
A Secret To Being Productive?
Charles Duhigg’s book are always entertaining. The central thesis make me dubious. That isn’t important though as the stories are full of interesting observations. This is true of Smarter, Faster, Better. Duhigg shares a secret to being productive. Great Stories I’m not a fan of some of the literature at the basis of the book. As such, it…
Academics And Political Conclusions
We all have political opinions. (Having no opinion is a stance in itself). What can we say about academics and political conclusions? Academics Have A Role In Political Discourse Academics have an important role to play in political discourse. Yet, we have to try to rid ourselves of bias and use appropriate evidence. It is therefore disappointing…
True But Useless
The Heath brothers, Chip and Dan, have an entertaining style and together they have generated a number of readable, informative popular psychology/business books. I enjoy the books and generally agree with a lot of what they say. A nice addition to the language is True But Useless. The Problem Of Certainty The brothers do run into the problem facing a lot…
You’re An Original
The study of creativity seems worthwhile but challenging. Creativity seems hard to consistently measure. Given it is hard to assess what is actually creative, it must be even harder to work out what drives creativity. Adam Grant tries this in Originals. I doubt his is the last word on the topic but it is worth a read. What is the message: You’re An Original. The…
