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Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account of behavior toward those choices might not be the ones we were all taught, and still teach, and that subjective risk perceptions might not accord with expert assessments of probabilities. In addition to these challenges, we are faced with the need to jettison naive notions of revealed preferences, according to which every choice by a subject expresses her objective function, as behavioral evidence forces us to confront pervasive inconsistencies and noise in a typical individual’s choice data. A principled account of errant choice must be built into models used for identification and estimation. These challenges demand close attention to the methodological claims often used to justify policy interventions. They also require, we argue, closer attention by economists to relevant contributions from cognitive science. We propose that a quantitative application of the “intentional stance” of Dennett provides a coherent, attractive and general approach to behavioral welfare economics.

Industrial tourism not only strives to preserve industrial heritage, but can also be a strategy for being familiar with the history of industry and attracting tourists to new destinations. This paper examines the issue of promoting petroleum industrial tourism in the case of Khuzestan, Iran. The research aims at determining appropriate strategies for promoting petroleum industrial tourism.

The data were analysed through a strengths, weaknesses, opportunities, and threats (SWOT) model.

The results revealed the competitive strategy as the best. Lastly, strategies such as: concentric diversification, joint venture strategy, conglomerate diversification and horizontal diversification were proposed as key solutions. The results support the view that establishing an exploratory ecomuseum in the territory of Khuzestan Province can be a suitable concentric diversification strategy towards petroleum industrial sustainable tourism in the future.

The main originality of this paper includes linking tourism with the petroleum (oil and natural gas) industry and its natural landscapes for the first time in a case study. Therefore, the results of this research can extend the literature in this regards. Moreover, this paper attracts tourists to visit natural landscapes of petroleum heritage.

In this chapter, the author explores the principles of responsible management education through the lens of Taoism. This chapter begins by introducing the concepts of knowledge-inquiry and wisdom-inquiry and highlights the differences between the two in the context of management education. The author emphasizes the importance of wisdom-inquiry in management education, arguing that it allows individuals to not only understand and analyze information but also to apply ethical considerations when making decisions. This chapter delves into how to synthesize knowledge and wisdom in education, highlighting the need for a balance between technical skills and ethical awareness in management education. This chapter concludes with an examination of the principles of managing talent by balancing competence and character. The author discusses how to hire for character and train for competence in human resources management and development. This approach involves focusing on developing individuals' character traits, such as integrity, compassion and empathy, in addition to their technical skills. This chapter demonstrates the value of incorporating Taoist principles into management education. When the importance of wisdom-inquiry, balancing competence and character, and developing ethical leaders is emphasized, management education can prepare individuals to navigate the complexities of the modern business landscape while promoting responsible business practices.

The authors explore the under-researched area of post-decision evaluation in PPPs (public–private partnerships), focusing upon how and whether Post-decision Project Evaluation (PdPE) is considered and provided for in United Kingdom (UK) public infrastructure projects.

The authors’ research design sought insights from overviewing UK PPP planning and more focused exploration of PPP operational practice. The authors combine the extensive analysis of planning documents for operational UK PPP projects with interviews of different stakeholders in PPP projects in one city. Mobilising an open critical perspective, documents were analysed using ethnographic content analysis (ECA) and interviews were analysed using thematic analysis consistent therewith. The authors theorise the absence and ambiguities of PdPE drawing on the sociology of ignorance.

The authors find a long-standing absence and lack of PdPE in PPP projects throughout planning and operational practice, reflecting a dynamic, multi-faceted ignorance. Concerning planning practice, the authors’ documentary analysis evidences a trend in PdPE from its absence in the early years (which may indicate some natural or genuine ignorance) to different levels or forms of weak inclusion later. Regarding this inclusion, the authors find strategic ignorance played a substantive role, involving “deliberate engineering” by both public sector and private partners. Interview findings indicate lack of clarity over PdPE and its under-development in PPP practice, deficiencies again suggestive of natural and strategic ignorance.

The authors draw from the sociology of ignorance vis-à-vis accounting's absence and ambiguity in the context of PPP, contributing to an under-researched area.

The aim of this paper is to offer insight into procrastination over the past decade using bibliometric analysis to gauge the evolving journey of this concept. Thus, the concept of procrastination is examined in terms of authors, affiliating institutions, countries, citation patterns, bibliometric coupling and co-occurrence analysis.

For exploring the research work on procrastination, the bibliometric analysis was conducted for co-authorship, co-occurrence of keywords, citation network analysis, most influential authors, document and country wise bibliometric coupling by taking 630 publications between the years 2010–2020 into consideration. Software like VOSviewer and Tableau was used for result analysis. In addition, the content analysis was used for the top research papers amongst the eleven different clusters.

The study reveals the nature and direction of research over the past decade on procrastination. The most prominent journals, authors, articles, institutions, countries and keywords have been identified. The topic shows an upward trend of research as no consolidation or maturity in the pattern is observed. Frontiers In Psychology had the highest number of publications followed by Personality And Individual Differences. The top three contributors are Sirosis, F.M., Feng, T. and Ferrari, J.R. The country-wise analysis shows the USA leading followed by Germany, China and Canada. UiT The Arctic University of Norway was having the most significant contribution followed by The Ohio State University, DePaul University and Tel Hai Academic College. The most prominent themes and documents are reported. In addition, the content analysis depicted the need to conduct the research work on the certain themes which may usher the researchers towards more conceptual clarity and strategizing.

Sufficient discourse and relevant literature are available about procrastination, bedtime procrastination and academic procrastination and related areas. However, procrastination is becoming a universal issue, especially in the field of human resources and workforce development. This paper attempts to facilitate the policy-makers, regulators, researchers and practitioners to explore allied and less explored areas of procrastination that need future investigation.

This paper aims to outline how certain lessons from ethical systems can be relevant and applicable to tackling unethical behavior, including financial crime, within the finance profession.

This paper adopts a pragmatic perspective while acknowledging that there is a myriad of reasons managers act unethically, including the reality that many do so knowingly and deliberately. The matter is further complicated by human nature, given an individual’s behavior (ethical or unethical) is not easily discernable from their psychological, sociological, theological or cultural attributes.

Although such systems may not solve the problem of corrupt behavior, research suggests that industry professionals can learn to act in a more responsible and ethical manner. Given the wounded reputation of the financial sector, owing to their role in committing financial crimes such as money laundering, advances in ethical conduct would elevate both the effectiveness of the sector, as well as its reputation.

It is impractical to think we can completely resolve the problem of unethical behavior. Improvement, however, seems possible through promoting virtuous character traits and ethical behavior in individuals and organizations. Virtue ethics can play a significant role in combating financial crime and supporting anti-money laundering initiatives.

The objectives of this research are to analyze the sociodemographic and personality profiles most related to good academic time management among 845 students from different faculties at the University de Barcelona (UB) and to identify the explanatory factors of effective academic time management.

Poor time management is a common behavior among university students and an explanatory factor for academic failure. A sociodemographic questionnaire, the Procrastination Assessment Scale-Student (PASS), the Academic Time Management (ATM), the Brief Symptom Inventory (BSI-18) and the Big Five Inventory-10 (BFI-10) were administered.

The results reveal that female students, education majors and those with high academic performance show better time management than the rest of the student body. Additionally, students who have better academic time management are also more neurotic, more open to experience, more responsible and less prone to procrastination. The factors established as explanatory of good academic time management are neuroticism, openness to experience and low procrastination.

The implications of the results for promoting academic time management in university studies through specific actions are discussed.

This study aims to investigate the concept of “practical wisdom” which may be defined as the ability to effectively manage one’s rational knowledge and to read and respond appropriately to the interplay of other people's emotions and one's own and their values. The aims of this study also are (1) to investigate the relationship between the spiritual, emotional and rational capacities which underpin practical wisdom and (2) to analyse the relationship between the practical wisdom co-created in and between individuals through these three capacities.

This study adopts a case study methodology by considering the experience provided by a group of hikers who organized a trip to cross the island of Gran Canarias and its natural parks.

This study proposes that the presence of spiritual, emotional or rational capacities can boost individual self-awareness, self-control and empathy, which can help workers in general and knowledge workers, in particular, more effectively tackle difficult situations, remain calm and collectively develop and enact appropriate responses to these situations. Therefore, results show that the concept of practical wisdom allows for the identification of both the nature of the capacities that contribute to the effective handling of difficult situations and them and the balance that needs to be developed between them.

For knowledge workers, the study provides a framework and an explanatory framework to help them understand how rational, spiritual and emotional capacities both interact and are operationalized to tackle difficult problems. Furthermore, it enables them to identify situations where success to consider such interactions, leads to develop and implement appropriate responses to such situations.

A proper balance of emotional, rational and spiritual capacities may enable people to have a more holistic vision of difficult situations, allowing the finding of appropriate solutions to complex problems (i.e. practical wisdom). This study contributes to strengthening knowledge workers' perception and understanding of the links between the knowledge stocks and knowledge flows that relate to a practical perspective of wisdom.

This paper aims to determine whether there is a relationship between intellectual capital and social capital and internal control weaknesses and assess the relationship between the variables of intellectual capital and social capital and internal control weaknesses.

The statistical population consists of 1,309 firm-year observations from 2014 to 2020. The research hypothesis is tested using statistical methods, including multivariate, least-squares and fixed-effects regression.

The results demonstrate a negative and significant relationship between intellectual capital, social capital and internal control weaknesses. The study also finds that increased intellectual and social capital quality improves human resource utilization, control mechanism, creativity and firm performance. The results also show that intellectual capital and social capital enhancement will reduce internal control weaknesses in the upcoming years.

This paper is the pioneer study on the relationship between intellectual capital and social capital and internal control weaknesses in Iran, carried out separately and in exploratory factor analysis. This paper considers intellectual capital components for theoretical factor analysis, including human capital, structural capital and customer capital. Internal control weakness is assessed based on financial, non-financial and information technology (IT) weaknesses.

This paper aims to systematically analyze the weaknesses of public procurement in Malaysia as reported in the Auditor General’s Reports from 2011 until 2018. Specifically, the study examines the types of weaknesses, the modes of public procurement involved with the weaknesses, the procurement categories involved with the weaknesses and the key recommendations to mitigate the weaknesses in public procurement.

A document analysis was adopted in achieving the objective. The Auditor General’s reports and the reports of activities of federal ministries/departments published by the National Audit Department, Malaysia from the year 2011 until 2018 are the main documents used in this study. The data gathered were analyzed using frequency distribution and displayed with descriptive statistics and relevant graphs.

The findings of the study revealed that the top five reported are non-compliance to scope, specifications and terms of contracts; delayed completion/non-completion of project; poor documentation; low quality of products, service and work; and little or no prior planning. It is also found that direct negotiation mode was reported with the highest issues of public procurement, while the procurement mode with the least public procurement weaknesses is direct purchase. Moreover, it was found that work category is the highest with public procurement issues reported compared to supplies and services. The top recommendations given by the Auditor General were to improve internal control, to enhance monitoring, to establish planning in details, to improve assets management and to take appropriate actions toward contractors and procurement officers when needed.

This is among a few studies that attempted to systematically examine the main issues regarding the public procurement activities in Malaysia. This study highlighted pertinent aspects of the public procurement activities, which need close attention by the relevant authorities to ensure efficient and effective public procurement.