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disposition based on self-efficacy, self-esteem, locus of control, and emotional stability-that has been found impacting decision …-leadership are more prone to be victims of some cognitive biases in decision-making processes, such as the internal attribution of … of CSE and self-leadership as not always being desirable for managerial decision-making processes and consequent …
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psychological channels underlying such a bias is scarce. We present a laboratory experiment designed to investigate the sunk cost …
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decision making. This effect is stronger when sellers expect to sell at a loss relative to their purchase price, for high …
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The relevance of sunk costs in decision making is one of the major sources of disagreement between neoclassical …
Persistent link: https://www.econbiz.de/10010226087
This paper reviews the literature that applies behavioral economic models to managerial decisions. It organizes the literature into research that focuses on alternative utility functions and research that focuses on non-equilibrium models. Generally, behavioral models have seen less application...
Persistent link: https://www.econbiz.de/10013110145
to decision making traps, including sunk cost bias, the framing of losses and gains, frame-dependent risk-aversion, and … evidence-informed and impartial decision making. These findings should worry policy professionals and their principals in … governments and large organizations, as well as citizens themselves. A further experiment, in which policy professionals engage in …
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