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Titlebook: Socialism with a Human Face; Using Behavioural Ec Gary B. Magee,Wayne Geerling Book 2022 The Editor(s) (if applicable) and The Author(s), u

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Conclusion,s approach to East German economic history can alter some of the common perceptions and beliefs about how Soviet-style economic systems operated. The new outlooks it generates, of course, do not change the basic facts, but they offer readers and future researchers a way of escaping the vestiges and
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Learning from the Soviet Union Means Learning to Win: Group Technology and the Mitrofanov Method,r state-wide campaign promoting its adoption and, deploying concepts from behavioural economics, discusses how the system was able, seemingly effectively, to mobilise itself in some arenas, regions or activities, but not others.
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Perceptions,at some tolerable, if rarely optimal, level. By peeling away the layers of rhetoric and assumptions and exploring this ability to function with new techniques drawn from behavioural economics, a richer understanding of East German economic history becomes possible.
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Making Decisions: Lessons from Behavioural Economics, mental accounting, and information cascades. These concepts are contrasted with those generated by expected utility theory, the approach more traditionally applied to decision making in economics and economic history. The implications of these differences for our understanding of behaviour within a command economy are considered.
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Establishing the Socialist Workplace: Labour, Norms and the Introduction of Piecework,ion of the workplace met with considerable resistance. Utilising concepts from behavioural economics, the chapter focuses its attention on the introduction of piece rates, work norms and performance pay—pivotal parts of the attempted transformation—to understand better why this process played out in the way it did.
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Choosing Bankruptcy: The Onset of Debt and Financial Crisis,rs to pursue the course they did is evaluated from the perspective of prospect theory. In addition to shedding new light on the thinking that underpinned such a calamitous course of action, this approach also offers a new periodisation of the history of debt accumulation in the GDR.
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