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What are Applied Doughnut Economics? Prof. Torben Larsen Explains

By Cheyenne Heckermann on Jul 2, 2021

Most people are familiar with economics, but not doughnut economics, which focuses on sustainability. Prof. Torben Larsen, from DEALs Online Collaborative Platform and the University of Southern Denmark, goes in depth with its applications in his recently published book, Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics. Prof. Larsen graduated from the University of Aarhus, Denmark. During his student years, he tried transcendental meditation, which became decisive for his career as a health economist. He has studied neurophysiology and has led multidisciplinary projects with physicians, psychologists, nurses, and therapists. This produced a series of academic awards, of which the most distinguished is a financial award from `The Lundbeck Foundation` in a national competition that later resulted in his position as a health economic consultant at University of Southern Denmark.

Applied Doughnut Economics and Neuroeconomic
Psychology for Business and Politics
Prof. Torben Larsen (DEALs Online Collaborative
Platform, Denmark)
©2021 | 257 pgs. | EISBN: 9781799864264
  • Editor Alumni of University of Aarhus, Denmark
  • Hear from the Expert
  • Covers Behavioral Economics, Cognitive Training,
    & Politics
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There, Prof. Larsen formed and led an international research project financed by the European Union on `Integrated Homecare`. This allowed his initial approaches to a neuroeconomic model for Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics. Prof. Larsen discusses more of this unique subject area below.

Could you give a brief introduction for doughnut economics and neuroeconomic psychology?

Prof. Larsen: Point four in Doughnut Economics (Raworth, 2017) calls for cybernetics which presupposes neuroeconomics to predict economic behavior in Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics that is a novel cybernetic approach to economics.

What inspired you to write Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics?

Prof. Larsen: After publication of of my open access journal article “Homo Neuroeconomicus” sourced from International Journal of User-Driven Healthcare (IJUDH) 7(1), I was invited to give a guest lecture for behavioral economists at University of Aarhus, Denmark. The lecture went very well, however, my ex-post evaluation was that the 2017 article is basic research that needed a user link to become comprehensible to university economists. Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics intends to fulfill this gap.

What is your mission for Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics?

Prof. Larsen: The mission of Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics is to present economics as a broad scientific alternative to religion following the Principles of Economics (8th ed.) (Marshall, 1890). University economics has been in crisis since the 70s and Neuroeconomics roots behavioral economics in positivist science. As a pensioner, I do have the time, freedom of thought and broad scientific experiences to develop the lacking link from basic to applied science.

Applied
Econometric
Analysis
Impact of Disruptive Technologies on the Sharing Economy
International Collaboration, Economic Development, and Sustainability in
the Arctic
Emerging Economic Models for Global Sustainability and Social Development
Sharing Economy
and the Impact
of Collaborative Consumption
What are some of the benefits of your research to its community?

Prof. Larsen: The theory of human capital states that human know-how on production is a productivity factor which is confirmed by econometric research. So, Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics is structured with a view on dissemination of human capital. Originally, economics was termed the dismal science, focusing the root of negativity rather than utopia. Today, economics is well-established as a tool for decision-makers. Now, economics has become the faith of ordinary laymen. To fulfill such a role, it must guide ordinary people solidly on general societal challenges as well as helping individuals in their ordinary business life.

How is your publication different from others within your field?

Prof. Larsen: Doughnut Economics is marketed as a comprehensive economic framework to believe in and follow for radical societal change. Neuroeconomics buries the option of radical social reforms as human solidarity is evidenced as real but also limited (to max. 40% sharing). Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics moderates the doughnut economics-framework by Neuroeconomic Psychology and a cybernetic methodology. However, this requires that it be disseminated to the general public by economists with a special course in Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics. Other related books are books debating special economic issues such as:

  • Inequality
  • Ecology
  • Management
  • Stress
  • Human Resources Development
All of these issues are covered by Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics in the way that the scientific research is reviewed in a condensed way without a statement of my subjective position.

What are some future directions for your research?

Prof. Larsen: A market position of Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics as the only realistic implementation of doughnut economics seems promising! However, Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics integrates doughnut economics with:

  • Market Economy
  • Behavioral Psychology (Big Five)
  • Political Science
  • Cybernetics (with a stringent mathematical structure)
This requires a special course for economists to disseminate it to the general public.

How have you seen your field evolve over the past five years, and how does your publication continue the evolution?

Prof. Larsen: The basic experimental neuroeconomics have not really improved the last ten years wherefore the review based model from 2017 is still valid.

What are other areas that your readership would find of interest?

Prof. Larsen: Students of political science are more open-minded than students of economics that are more extraverted (Vedel, 2016). Further, the inclusion of meditation in part three of Doughnut Economics gives a link to the new age culture that counts millions of people whereof a minority is supposed to have benefitted markedly from regular meditation (Raworth, 2017).

Hear from the Expert: Prof. Torben Larsen
Explains Doughnut Economics
What has your experience been like publishing with IGI Global?

Prof. Larsen: I`m very satisfied with the collaborative relations with IGI Global and do believe in a good final outcome.

Prof. Larsen’s Applied Doughnut Economics and Neuroeconomic Psychology for Business and Politics is available in print and electronic format with free shipping on orders over US$ 395.* Additionally, it is featured in the IGI Global e-Book Collections (6,600+ eBooks). Recommend this title to your library and colleagues or acquire it today to
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References

Marshall, A. (1890). Principles of Economics (8th ed.). The Online Library of Liberty.

Raworth, K. (2017).Doughnut Economics. Chelsea Green Publishing.

Vedel, Anna. (2016). Big Five personality group differences across academic majors: A systematic review. Personality and Individual Differences, 92, 1-10. https://www.sciencedirect.com/science/article/abs/pii/S0191886915300921.


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