More than 80 central banks use a committee to take monetary policy decisions. The composition of the committee and the structure of the meeting can affect the quality of the decision making. In this paper we review economic, experimental, sociological and psychological studies to identify...

This paper experimentally studies the disposition effects of teams and individuals. The disposition effect describes the phenomenon that investors are reluctant to realize losses, whereas winners are sold too early. Our experiments compare the investments of two-person teams to a setting where...

The accepted approach to capital budgeting leaves decision makers without appropriate guidance because it ignores the cognitive, organizational, and institutional dimensions of their decision-making process. This approach is based upon the unrealistic assumptions of neoclassical finance, where...

This paper examines optimal decision making under three different organizational forms: committees, hierarchies and polyarchies. Our focus is on the trade-off between errors of rejecting good projects versus errors of accepting bad projects, and on the trade-off between gains from more extensive...

This paper proposes a prescriptive model for the strategic decision-making from the Romanian enterprises. Within the paper there will be described the phases implied in solving a strategic problem. Finally, it will be presented a strategic decision from a Romanian enterprise, elaborated on the...

Before a group can take a decision, its members must agree on a mechanism to aggregate individual preferences. In this paper we present the results of an experiment on the influence of private payoff information and the role of the available alternatives on individuals' mechanism choices in such...

This study explains aspects and strategies of critical decision in crisis management. Critical decisions enable organizations to cope with consequential environmental threats or take advantage of important opportunities in the presence of highly restricted time. In particular, critical decisions...

Whether, and if so, how exactly gender differences are manifested in moral judgment has recently been at the center of much research on moral decision making. Previous research suggests that women are more deontological than men in personal, but not impersonal, moral dilemmas. However, typical...

Existing research on corporate divestitures focuses on the antecedents and outcomes of divestiture events. The impact of the divestiture decision-making process is still largely under-investigated. This paper uses an in-depth qualitative research approach based on multiple case studies to...

In this paper we integrate the literature on decision quality with considerations specific to boards of directors. In order to maximize the value of their decisions, boards of directors must look beyond their legal obligations and incorporate business ethics and the latest developments in...