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Managing Behavior: Psychology, Economics, and Experiments - Part 2: Coordinating Behavior in the Organization

Do we act rationally? And how can we motivate others to do things we want to be done? In this course, you will learn important insights about the behaviour of others, but also how you act – in business situations as well as in everyday life:
Kurs ID
Art des Kurses
BSc Kurs
FS 2024
Prof. Dr. Peter-J. Jost
Bitte beachten Sie, dass AustauschstudentInnen im BSc-Programm der WHU eine höhere Anzahl an Credits erwerben als hier aufgeführt. Für weitere Informationen wenden Sie sich bitte direkt an das [International Relations Office].
This course focuses on systems in which several individuals have to interact with one another in order to achieve certain common goals. Because those decision-makers are somehow connected, ensuring coordination of their individual behavior toward the common goal becomes essential. Following the conceptual framework of institutional economics, we will discuss three different forms of coordination:
  • First, we consider market coordination, where individual activities are coordinated via the price mechanism. We follow basic microeconomic theory and examine the functioning of markets and the implications of market failures.
  • Second, we look at inter-organizational coordination, where long-term contracts between autonomous partners coordinate individual activities. Through the lens of transaction cost theory, we elaborate on several factors determining the usefulness of long-term contracts for coordination purposes.
  • Finally, we examine hierarchical coordination, where a central unit coordinates individual activities via commands. Following managerial economic theories, we integrate the various coordination instruments used within firms into our analysis.
Date Time
Wednesday, 13.03.2024 08:00 - 11:15
Wednesday, 13.03.2024 08:00 - 11:15
Tuesday, 02.04.2024 11:30 - 15:15
Tuesday, 02.04.2024 11:30 - 15:15
Thursday, 04.04.2024 11:30 - 15:15
Thursday, 04.04.2024 11:30 - 15:15
Friday, 05.04.2024 11:30 - 15:15
Friday, 05.04.2024 11:30 - 15:15
Tuesday, 09.04.2024 11:30 - 15:15
Tuesday, 09.04.2024 11:30 - 15:15
Friday, 12.04.2024 11:30 - 15:15
Friday, 12.04.2024 11:30 - 15:15
By the end of the course, you will advance your knowledge in different ways:
  • Learning the influences of psychology and sociology will help you understand why and how people make decisions
  • Answering questions regarding the respective last lecture will help you to reconsider the contents discussed in class
  • Learning to write a research paper will help you to deal with a new topic and be useful for your BSc-thesis
  • Learning to analyse an experimental paper will help you to critically analyse the underlying theories
  • Learning how to design an experiment will be useful for identifying differences between theory and practice
  • Learning to speak in front of others will be useful for your university and business career

Jost, P.-J.: The Economics of Motivation and Organization: An Introduction. Edward Elgar, Cheltenham, 2014.
  • Experiment & Presentation: 45%
  • Paper: 35%
  • In-class assignments: 20%
  • Participation: Tiebreaker
Your willingness to solve puzzles!
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