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This chapter, originally written as a consequence of the terrorist attacks of September 11, 2001, provides an elementary, everyday introduction to the concepts of risk and insurance. Conceptually, risk has two dimensions: a potential loss, and the chance of that loss being realized. People can,...
Persistent link: https://www.econbiz.de/10005772000
Recent research has highlighted the notion that people can make judgments and choices by means of two systems that are labeled here tacit (or intuitive) and deliberate (or analytic). Whereas most decisions typically involve both systems, this chapter examines the conditions under which each...
Persistent link: https://www.econbiz.de/10005772107
-reason” decision making can be more effective than analyses that use more information. We thus provide analytical backing to intriguing …
Persistent link: https://www.econbiz.de/10005772123
An important problem in descriptive and prescriptive research in decision making is to identify “regions of rationality … regions (e.g., if there is low inter-correlation among attributes/cues). Since our work assumes a “hit or miss” decision …
Persistent link: https://www.econbiz.de/10005772221
Research on judgment and decision making presents a confusing picture of human abilities. For example, much research … premise that understanding human performance requires specifying how characteristics of the decision rules people use interact …
Persistent link: https://www.econbiz.de/10005772356
Confidence in decision making is an important dimension of managerial behavior. However, what is the relation between … explore this and related issues in the context of everyday decision making, use was made of the ESM (Experience Sampling … their current decision making activities. Issues considered here include differences between the types of decisions faced by …
Persistent link: https://www.econbiz.de/10005772371
The effectiveness of decision rules depends on characteristics of both rules and environments. A theoretical analysis …
Persistent link: https://www.econbiz.de/10005772523
Working Paper no longer available. Please contact the author.
Persistent link: https://www.econbiz.de/10005772544
judgment and decision making by describing four case studies. These concern findings that “clinical” judgment is less …
Persistent link: https://www.econbiz.de/10005772583
place as well as modifications that should be incorporated into descriptive models of decision making. …
Persistent link: https://www.econbiz.de/10005704847