This paper explores the relation between decision theoretic conceptions of risk and the conceptions held by executives. It considers recent studies of risk attitudes and behavior among managers against the background of conceptions of risk derived from theories of choice. We conclude that...

This study compared the relationships between organizational context and the designs of environmental scanning systems for organizational with effective and ineffective scanning systems. The study analyzed data from over 100 North American business organizations. Results indicate that...

This paper attempts to relate the conditions that require different planning approaches. A theoretical planning framework is presented that considers the confidence of causal linkages coupled with the extent of environmental change. Prior planning research is synthesized to speculate on the...

Research on strategic planning has been handicapped by lack of an appropriate operationalizing scheme for measuring the success of planning systems. In this paper, an operational model for measuring planning system success is developed in terms of two interrelated dimensions---improvements in...

Business Portfolio Planning techniques often suggest that firms should invest in industries with high profitability, high growth, or other attractive characteristics. Critiquing this view, we suggest that the same factors which lead to high profitability in an industry may cause its inefficient...

Personal experience matters. In a field setting with longitudinal data, we disentangle the effects of learning new information from the effects of personal experience. We demonstrate that experience with a fine, controlling for the effect of learning new information, significantly boosts future...

In the aftermath of many natural and man-made disasters, people often wonder why those affected were underprepared, especially when the disaster was the result of known or regularly occurring hazards (e.g., hurricanes). We study one contributing factor: prior near-miss experiences. Near misses...

Despite the central role of arbitrage in finance and economic theory, there is limited evidence of the factors that create and eliminate arbitrage opportunities, how often arbitrage occurs, and how profitable it is. We address these gaps via a transaction-level analysis of spatial arbitrage in...

We investigate whether the gender composition of teams affects their economic performance. We study a large business game, played in groups of three, in which each group takes the role of a general manager. There are two parallel competitions, one involving undergraduates and the other involving...