Bounded decision making
from description to improvement
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Author
Contributions
- Milkman, Katherine L. - Contributor
- Bazerman, Max H. - Contributor
- Harvard Business School - Contributor
Publication
2008 - Harvard Business School, Boston, Massachusetts
Language
English
Word Count
6,750 words, Guess
Page Count
27 pages
Identifiers
- OCLC Control Number416387783
- Open LibraryOL49959658M
Description
The optimal moment to address the question of how to improve human decision making has arrived. Thanks to fifty years of research by judgment and decision making scholars, psychologists have developed a detailed picture of the ways in which human judgment is bounded. This paper argues that the time has come to focus attention on the search for strategies that will improve bounded judgment because decision making errors are costly and are growing more costly, decision makers are receptive, and academic insights are sure to follow from research on improvement. In addition to calling for research on improvement strategies, this paper organizes the existing literature pertaining to improvement strategies, highlighting promising directions for future research.
Subjects
Series Statement
- Working paper / Harvard Business School -- 08-102
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