Re-engaging with rationality in economic geography: behavioural approaches and the importance of context in decision-making

Strauss, Kendra

doi:10.1093/jeg/lbm048

Cited by 106 publications

(87 citation statements)

References 60 publications

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“…Individuals adopt new modes of self-governance and reflexivity in monitoring their investments and consumption habits, in an environment of dwindling state-welfare benefits that normalises risks and risk-taking behaviour (Martin, 2002). Related studies on behavioural geographies have also mapped the ways in which the wider financial environment shapes understandings of 'rationality' in investments and retirement strategies made by British households and individuals (Clark, 2010(Clark, , 2011Strauss, 2008Strauss, , 2009. Wider processes of financialisation are thus underpinned by the promotion of new subjects though calculative and competitive forms of economic behaviour in the contemporary neoliberal era (Larner, 2012).…”

Section: Financialisation and State-subject Relationsmentioning

confidence: 99%

“Neighbours First, Bankers Second”: Mobilising financial citizenship in Singapore

Lai

Tan

2015

Geoforum

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Section: Financialisation and State-subject Relationsmentioning

confidence: 99%

“Neighbours First, Bankers Second”: Mobilising financial citizenship in Singapore

Lai

Tan

2015

Geoforum

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“…Bounded rationality is an alternative that recognises, based on real-world observations and studies, that decisionmaking occurs in response to the social context, limits of human knowledge and processing, and multiple motives and values (Zsambok and Klein 1997;Kelly and Karau 1999;Hastie 2001;Ortiz 2005;Strauss 2008). …”

Section: An Alternative Viewmentioning

confidence: 99%

Breaking the Bounds of Rationality: Values, Relationships, and Decision-making in Mexican Fishing Communities

Peterson

2014

Conservat Soc

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In fishing communities in Baja California Sur, Mexico, fisheries management is heavily influenced by models of individual economic rationality held by biologists and others involved in management, in which fishermen 'choose' to overfish because they are motivated by selfish individual rationality. Yet there is much that is neglected by these models, including the pressures of economic markets, family and community expectations, and cultural and personal value systems. Actual decisions about fishing and resource management rarely match the expectations of classical or neoliberal economic models of individual behaviour. I argue here that rational choice theory is a historically and culturally constructed discourse that becomes a taken-for-granted lens for viewing behaviour around the world. The effects of this discourse can be seen in the policies that are derived from them, as shown through this case study. [Downloaded free from http://www.conservationandsociety.org on Wednesday, May 13, 2015, IP: 94.73.62.168]

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“…In practice human rationality is bounded which means that individuals may utilise heuristics (mental short cuts) rather than engage in 'exhaustive optimisation strategies' (Strauss, 2008, 141). This opens up the role that intuition and imitation may play within complex situations and time constraints (Strauss, 2008).…”

Section: The Role Of Context and Practicementioning

confidence: 98%

Managing communities and managing knowledge: strategic decision making and store network investment within retail multinationals

Wood

Reynolds

2011

Journal of Economic Geography

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The manner in which knowledge is spatially generated, reproduced and diffused is of interest to students of economic geography and business management alike. This paper seeks to contribute to these debates by drawing on the results of a year-long study with analysts working in location-planning departments of multinational retailers to determine: a) how different types of knowledge are mediated within organisational contexts to inform store development; and b) the extent to which analysis can be successfully formalised into "best practice". We find that while quantitative models of sales forecasting have become established, analysis on a dayto-day basis sees judgements made by analyst "communities" without perfect data, as experience and intuitive insights contribute to corporate decision-making. Furthermore, a number of communities-of-practice across the retail firm, consisting of actors with different backgrounds and agendas, contribute to outcomes. Understanding the power relations embedded within (and across) these communities is essential to conceptualise the store expansion process.

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Re-engaging with rationality in economic geography: behavioural approaches and the importance of context in decision-making

Cited by 106 publications

References 60 publications

“Neighbours First, Bankers Second”: Mobilising financial citizenship in Singapore

“Neighbours First, Bankers Second”: Mobilising financial citizenship in Singapore

Breaking the Bounds of Rationality: Values, Relationships, and Decision-making in Mexican Fishing Communities

Managing communities and managing knowledge: strategic decision making and store network investment within retail multinationals

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