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Managerial Decision Making
Managerial Decision Making is an essential and insightful volume that brings together classic articles on the subject of behavioral decision research. Professor Don Moore has selected the seminal articles that are the cornerstone of a discipline that has exploded in both productivity and influence. It covers Herbert Simon’s groundbreaking work on bounded rationality, as well as important papers on anchoring, the bias of framing, the problem of overconfidence, the preference for fairness, emotional influences and the strengths and weaknesses of human intuitive judgement. This volume will appeal to a wide readership as decision research plays an important role in such diverse areas as business, marketing, law, finance, medicine and public policy.
More Information
Contributors
Contents
More Information
Managerial Decision Making is an essential and insightful volume that brings together classic articles on the subject of behavioral decision research. Professor Don Moore has selected the seminal articles that are the cornerstone of a discipline that has exploded in both productivity and influence. It covers Herbert Simon’s groundbreaking work on bounded rationality, as well as important papers on anchoring, the bias of framing, the problem of overconfidence, the preference for fairness, emotional influences and the strengths and weaknesses of human intuitive judgement. This volume will appeal to a wide readership as decision research plays an important role in such diverse areas as business, marketing, law, finance, medicine and public policy.
Contributors
33 articles, dating from 1955 to 2008
Contributors include: D. Ariely, C. Camerer, R. Dawes, D. Kahneman, G. Loewenstein, H. Simon, R. Thaler, A. Tversky
Contributors include: D. Ariely, C. Camerer, R. Dawes, D. Kahneman, G. Loewenstein, H. Simon, R. Thaler, A. Tversky
Contents
Contents:
Acknowledgements
Introduction Don A. Moore
PART I BOUNDED RATIONALITY
1. Herbert A. Simon (1955), ‘A Behavioral Model of Rational Choice’
2. Herbert A. Simon (1959), ‘Theories of Decision-Making in Economics and Behavioral Science’
3. Dan Ariely, George Loewenstein and Drazen Prelec (2003), ‘“Coherent Arbitrariness”: Stable Demand Curves Without Stable Preferences’
4. Daniel Kahneman (2003), ‘Maps of Bounded Rationality: Psychology for Behavioral Economics’
PART II ANCHORING
5. Amos Tversky and Daniel Kahneman (1974), ‘Judgment Under Uncertainty: Heuristics and Biases’
6. Thomas Mussweiler, Fritz Strack and Tim Pfeiffer (2000), ‘Overcoming the Inevitable Anchoring Effect: Considering the Opposite Compensates for Selective Accessibility’
7. Nicholas Epley and Thomas Gilovich (2001), ‘Putting Adjustment Back in the Anchoring and Adjustment Heuristic: Differential Processing of Self-Generated and Experimenter-Provided Anchors’
PART III FRAMING
8. Daniel Kahneman and Amos Tversky (1979), ‘Prospect Theory: An Analysis of Decision Under Risk’
9. Daniel Kahneman, Jack L. Knetsch and Richard H. Thaler (1990), ‘Experimental Tests of the Endowment Effect and the Coase Theorem’
10. Shlomo Benartzi and Richard H. Thaler (1995), ‘Myopic Loss Aversion and the Equity Premium Puzzle’
11. Eric J. Johnson and Daniel Goldstein (2003), ‘Do Defaults Save Lives?’
PART IV OVERCONFIDENCE
12. Sarah Lichtenstein and Baruch Fischhoff (1977), ‘Do Those Who Know More Also Know More About How Much They Know’
13. Colin Camerer and Dan Lovallo (1999), ‘Overconfidence and Excess Entry: An Experimental Approach’
14. Richard A. Block and David R. Harper (1991), ‘Overconfidence in Estimation: Testing the Anchoring-and-Adjustment Hypothesis’
15. Don A. Moore (2007), ‘Not So Above Average After All: When People Believe They are Worse Than Average and its Implications for Theories of Bias in Social Comparison’
PART V FAIRNESS
16. Daniel Kahneman, Jack L. Knetsch and Richard H. Thaler (1986), ‘Fairness as a Constraint on Profit Seeking: Entitlements in the Market’
17. Matthew Rabin (1993), ‘Incorporating Fairness into Game Theory and Economics’
18. David M. Messick and Keith P. Sentis (1979), ‘Fairness and Preference’
19. Linda Babcock, George Loewenstein, Samuel Issacharoff and Colin Camerer (1995), ‘Biased Judgements of Fairness in Bargaining’
20. Ernst Fehr and Urs Fischbacher (2004), ‘Social Norms and Human Cooperation’
PART VI EMOTIONAL INFLUENCES ON DECISION MAKING
21. George Loewenstein (1996), ‘Out of Control: Visceral Influences on Behavior’
22. Jennifer S. Lerner and Dacher Keltner (2000), ‘Beyond Valence: Toward a Model of Emotion-specific Influences on Judgement and Choice’
23. Jonathan Haidt (2007), ‘The New Synthesis in Moral Psychology’
24. Shane Frederick, George Loewenstein and Ted O’Donoghue (2002), ‘Time Discounting and Time Preference: A Critical Review’
25. Jennifer S. Lerner, Deborah A. Small and George Loewenstein (2004), ‘Heart Strings and Purse Strings: Carryover Effects of Emotions on Economic Decisions’
PART VII INTUITIVE JUDGEMENT
26. Timothy D. Wilson (1994), ‘The Proper Protocol: Validity and Completeness of Verbal Reports’
27. Barry M. Staw (1976), ‘Knee-Deep in the Big Muddy: A Study of Escalating Commitment to a Chosen Course of Action’
28. Robyn M. Dawes, David Faust and Paul E. Meehl (1989), ‘Clinical Versus Actuarial Judgement’
29. Timothy D. Wilson, Douglas J. Lisle, Jonathan W. Schooler, Sara D. Hodges, Kristen J. Klaaren and Suzanne J. LaFleur (1993), ‘Introspecting About Reasons Can Reduce Post-Choice Satisfaction’
30. Brian A. Nosek, Frederick L. Smyth, Jeffrey J. Hansen, Thierry Devos, Nicole M. Lindner, Kate A. Ranganath, Colin Tucker Smith, Kristina R. Olson, Dolly Chugh, Anthony G. Greenwald and Mahzarin R. Banaji (2007), ‘Pervasiveness and Correlates of Implicit Attitudes and Stereotypes’
31. Ap Dijksterhuis, Maarten W. Bos, Loran F. Nordgren and Rick B. van Baaren (2006), ‘On Making the Right Choice: The Deliberation-Without-Attention Effect’
32. John W. Payne, Adriana Samper, James R. Bettman and Mary Frances Luce (2008), ‘Boundary Conditions on Unconscious Thought in Complex Decision Making’
33. Jennifer A. Whitson and Adam D. Galinsky (2008), ‘Lacking Control Increases Illusory Pattern Perception’
Acknowledgements
Introduction Don A. Moore
PART I BOUNDED RATIONALITY
1. Herbert A. Simon (1955), ‘A Behavioral Model of Rational Choice’
2. Herbert A. Simon (1959), ‘Theories of Decision-Making in Economics and Behavioral Science’
3. Dan Ariely, George Loewenstein and Drazen Prelec (2003), ‘“Coherent Arbitrariness”: Stable Demand Curves Without Stable Preferences’
4. Daniel Kahneman (2003), ‘Maps of Bounded Rationality: Psychology for Behavioral Economics’
PART II ANCHORING
5. Amos Tversky and Daniel Kahneman (1974), ‘Judgment Under Uncertainty: Heuristics and Biases’
6. Thomas Mussweiler, Fritz Strack and Tim Pfeiffer (2000), ‘Overcoming the Inevitable Anchoring Effect: Considering the Opposite Compensates for Selective Accessibility’
7. Nicholas Epley and Thomas Gilovich (2001), ‘Putting Adjustment Back in the Anchoring and Adjustment Heuristic: Differential Processing of Self-Generated and Experimenter-Provided Anchors’
PART III FRAMING
8. Daniel Kahneman and Amos Tversky (1979), ‘Prospect Theory: An Analysis of Decision Under Risk’
9. Daniel Kahneman, Jack L. Knetsch and Richard H. Thaler (1990), ‘Experimental Tests of the Endowment Effect and the Coase Theorem’
10. Shlomo Benartzi and Richard H. Thaler (1995), ‘Myopic Loss Aversion and the Equity Premium Puzzle’
11. Eric J. Johnson and Daniel Goldstein (2003), ‘Do Defaults Save Lives?’
PART IV OVERCONFIDENCE
12. Sarah Lichtenstein and Baruch Fischhoff (1977), ‘Do Those Who Know More Also Know More About How Much They Know’
13. Colin Camerer and Dan Lovallo (1999), ‘Overconfidence and Excess Entry: An Experimental Approach’
14. Richard A. Block and David R. Harper (1991), ‘Overconfidence in Estimation: Testing the Anchoring-and-Adjustment Hypothesis’
15. Don A. Moore (2007), ‘Not So Above Average After All: When People Believe They are Worse Than Average and its Implications for Theories of Bias in Social Comparison’
PART V FAIRNESS
16. Daniel Kahneman, Jack L. Knetsch and Richard H. Thaler (1986), ‘Fairness as a Constraint on Profit Seeking: Entitlements in the Market’
17. Matthew Rabin (1993), ‘Incorporating Fairness into Game Theory and Economics’
18. David M. Messick and Keith P. Sentis (1979), ‘Fairness and Preference’
19. Linda Babcock, George Loewenstein, Samuel Issacharoff and Colin Camerer (1995), ‘Biased Judgements of Fairness in Bargaining’
20. Ernst Fehr and Urs Fischbacher (2004), ‘Social Norms and Human Cooperation’
PART VI EMOTIONAL INFLUENCES ON DECISION MAKING
21. George Loewenstein (1996), ‘Out of Control: Visceral Influences on Behavior’
22. Jennifer S. Lerner and Dacher Keltner (2000), ‘Beyond Valence: Toward a Model of Emotion-specific Influences on Judgement and Choice’
23. Jonathan Haidt (2007), ‘The New Synthesis in Moral Psychology’
24. Shane Frederick, George Loewenstein and Ted O’Donoghue (2002), ‘Time Discounting and Time Preference: A Critical Review’
25. Jennifer S. Lerner, Deborah A. Small and George Loewenstein (2004), ‘Heart Strings and Purse Strings: Carryover Effects of Emotions on Economic Decisions’
PART VII INTUITIVE JUDGEMENT
26. Timothy D. Wilson (1994), ‘The Proper Protocol: Validity and Completeness of Verbal Reports’
27. Barry M. Staw (1976), ‘Knee-Deep in the Big Muddy: A Study of Escalating Commitment to a Chosen Course of Action’
28. Robyn M. Dawes, David Faust and Paul E. Meehl (1989), ‘Clinical Versus Actuarial Judgement’
29. Timothy D. Wilson, Douglas J. Lisle, Jonathan W. Schooler, Sara D. Hodges, Kristen J. Klaaren and Suzanne J. LaFleur (1993), ‘Introspecting About Reasons Can Reduce Post-Choice Satisfaction’
30. Brian A. Nosek, Frederick L. Smyth, Jeffrey J. Hansen, Thierry Devos, Nicole M. Lindner, Kate A. Ranganath, Colin Tucker Smith, Kristina R. Olson, Dolly Chugh, Anthony G. Greenwald and Mahzarin R. Banaji (2007), ‘Pervasiveness and Correlates of Implicit Attitudes and Stereotypes’
31. Ap Dijksterhuis, Maarten W. Bos, Loran F. Nordgren and Rick B. van Baaren (2006), ‘On Making the Right Choice: The Deliberation-Without-Attention Effect’
32. John W. Payne, Adriana Samper, James R. Bettman and Mary Frances Luce (2008), ‘Boundary Conditions on Unconscious Thought in Complex Decision Making’
33. Jennifer A. Whitson and Adam D. Galinsky (2008), ‘Lacking Control Increases Illusory Pattern Perception’
