In this paper, we propose that researchers might analyze key questions in entrepreneurship as problems of decision making. We believe that this allows for new insights. Experiments are especially suited to empirically test hypotheses derived within such a framework. In this paper, we thus...

In a series of recent publications, Gigerenzer and his collaborators have attempted to derive new norms of rationality from their psychological research in the Centre for Adaptive Behaviour and Cognition (ABC). Specifically, they have claimed that there are good reasons to replace the norms...

This article introduces the emergency purchasing situation (EPS) as a distinct buying context. EPSs stem from an unexpected event (unanticipated need or timing of a need), as well as high product importance, which are associated with a short time frame for consumer decision-making. Our...

Judgments about simple gambles, such as those used in utility assessment, can generate sizable and systematic bias. After Hershey and Schoemaker (Hershey, J. C., P. J. H. Schoemaker. 1985. Probability vs. certainty equivalence methods in utility measurement: Are they equivalent? Management Sci....

Operational Research uses a set of tools based on scientific research principles to achieve rational and meaningful management decisions. This article tries to give solution to a highly complex Linear Programming problem by using Simplex method, Solver and a hybrid prototype which combines the...

In making pricing decisions, managers can chose from several pricing strategies. To ensure long-term business success, pricing choices need to balance numerous requirements, from revenue streams to keeping customers happy. The complexity of pricing decisions and time pressures that often...

In this paper we investigated how many causes girls, young women, and mothers could generate in two scenarios involving a hypothetical crying baby. We wanted to test whether girls were as good as young women and mothers in generating the a priori most likely causes.

“Never change a winning team” is a well-known heuristic that recommends not altering the composition of successful teams. Using game-level observations of the highest German soccer league over a period of seven seasons, we find that the number of changes in the starting line-up is...