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ingredients: (a) decision rights can be transferred ex ante through ownership, (b) managers (and possibly workers) enjoy private …
Persistent link: https://www.econbiz.de/10012765370
organization; and relationships with limited partners. In selecting investments, VCs see the management team as more important than …
Persistent link: https://www.econbiz.de/10012983682
In line with the fallacy of riskification of uncertainty by which decision makers believe that the effects of … markets, such as natural disasters, terrorist attacks, and financial crises—as a problem of risk management. This is … business continuity. Taken together, this article offers the foundation for a behaviorally plausible, decision …
Persistent link: https://www.econbiz.de/10012912518
Due primarily to the difficulty of obtaining ideal data, much remains unknown about how college majors are determined. We take advantage of longitudinal expectations data from the Berea Panel Study to provide new evidence about this issue, paying particular attention to the choice of whether to...
Persistent link: https://www.econbiz.de/10013128602
In this paper, we assess the degree to which four of the most commonly used models of risky decision making can explain … explain the decision-making behavior of the majority of our subjects. Surprisingly, we find that the choice behavior of the … of risky decision making …
Persistent link: https://www.econbiz.de/10013135363
Medical practitioners typically utilize the following protocol when advising pregnant women about testing for the possibility of genetic disorders: Pregnant women over the age of 35 should be tested for Down syndrome and other genetic disorders; for younger women, such tests are discouraged...
Persistent link: https://www.econbiz.de/10013138773
Outcome bias occurs when an evaluator considers ex-post outcomes when judging whether a choice was correct, ex-ante. We formalize this cognitive bias in a simple model of distorted Bayesian updating. We then examine strategy changes made by professional football coaches. We find they are more...
Persistent link: https://www.econbiz.de/10013119785
Studies examining pension distribution choices have found that the tendency of private-sector workers is to select lump sum distributions instead of life annuities. In the public sector, defined benefit pensions usually offer lump sum distributions equal to employee contributions, not the...
Persistent link: https://www.econbiz.de/10013098815
Using a high-stakes field experiment conducted with a financial brokerage, we implement a novel design to separately identify two channels of social influence in financial decisions, both widely studied theoretically. When someone purchases an asset, his peers may also want to purchase it, both...
Persistent link: https://www.econbiz.de/10013103518
: Procedural decision making and skill performing procedures. Higher procedural skill increases the use of intensive procedures … across the board, while better decision making results in fewer intensive procedures for the low risk, but more for the high … can be identified using administrative data and that improving decision making would reduce C-section rates by 15.5% in …
Persistent link: https://www.econbiz.de/10013082292