The ubiquity of habits and rules

Article Abstract:

The use of habits and rules is beneficial for people since it helps them decide, learn and act during decision situations. The seven decision situations which lead to the use of habits or rules include optimization, extensiveness, complexity, uncertainty, cognition, learning and communication. Rules are used in cases such as solving calculus problems, whereas, habits arise in cases such as learning to play a musical instrument. Both the neoclassical economic discipline and the behavioural approach have not been able to offer explanations as to the origin of rules and habits.

Beliefs, opinions and attitudes, Neoclassical economics

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Safety in numbers: a model of managerial herd behavior

Article Abstract:

Alternative explanation for the herd behavior of managers is offered. Previous studies conclude that such behavior results when actions of managers convey information that other managers find useful. However, it is proposed that managerial herd behavior is based on the principle of 'safety in numbers.' It is assumed that executives dislike taking risks and that their compensation is determined in part by their performance.

Executives

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The complex evolution of a simple traffic convention: the functions and implications of habit

Article Abstract:

The evolution of a simple traffic convention concerning the side of the road on which to drive is explored. It is shown that the habit formation is a part of a possible mechanism of 'reconstitutive downward causation' among agents.

Automobile driving, Motor vehicle driving

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