Judgment in managerial decision making
Cognitive and experimental in design, it explains decision making by having the reader respond to many decision items. Early chapters offer the opportunity to examine individual judgment and later ones provide a variety of interpersonal contexts that can affect judgment. This edition features a new chapter on fairness, ethics and social comparison processes in decision making. Quiz items and examples have been updated.
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Biases Emanating from the Availability Heuristic
Biases Emanating from Anchoring and Adjustment
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50 percent accept action adjustment agreement alternative anchor anchoring and adjustment argue asked assessment assumptions availability heuristic bank teller Bazerman behavior bias biases cards chapter choice coalition cognitive conjunction fallacy Consider the following context creativity decision maker decision-making processes developed effect employee escalation escalation of commitment estimate evaluate example expected value fairness firm Fischhoff framing gain identify individuals initial integrative intertemporal choices intuitive judgment Kahneman and Tversky lead Lichtenstein likelihood Linda logic loss managerial MD produces million months multiparty negotiation occur offer organization outcomes overconfidence parties percent chance player potential predict probability problem profit prospect theory pseudocertainty pseudocertainty effect question representativeness heuristic respond result risk risk averse risk-seeking risky risky shift scenario sellers situations Slovic solution specific strategies subjects suggests systematic tend Thaler tion tive Tversky and Kahneman ultimatum game winner's curse