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Cognitive biases that influence Lean implementation and practices in a multicultural environment

Mahesh Babu, Purushothaman; Seadon, Jeff; Moore, Dave - In: International Journal of Lean Six Sigma 14 (2023) 7, pp. 1655-1714

Purpose The purpose of this paper is to highlight the prominent cognitive biases that influence Lean practices in organisations that have a multi-cultural work environment which will aid the organisational managers and academics in enhancing the understanding of the human thought process and...

Persistent link: https://www.econbiz.de/10014782893

A Comparison of Bias Approximations for the 2SLS Estimator

Bun, Maurice J.G.; Windmeijer, Frank - Tinbergen Instituut - 2011

="http://www.sciencedirect.com/science/article/pii/S0165176511002242">'Economics Letters'</A> 113(1), 76-79.<p> We consider the bias of the 2SLS estimator in the linear instrumental … coefficient estimation bias under various scenarios regarding the number and strength of instruments. …

Persistent link: https://www.econbiz.de/10011256466

Using a Bootstrap Method to choose the Sample Fraction in Tail Index Estimation

Danielsson, J.; Haan, L. de; Peng, L.; Vries, C.G. de - Tinbergen Instituut - 1997

We use a subsample bootstrap method to get a consistent estimate of the asymptotically optimal choice of the samplefraction, in the sense of minimal mean squared error, which is needed for tail index estimation. Unlike previous methodsour procedure is fully self contained. In particular, the...

Persistent link: https://www.econbiz.de/10011257229

Golden Rule of Forecasting: Be conservative

Armstrong, J. Scott; Green, Kesten C.; Graefe, Andreas - Volkswirtschaftliche Fakultät, … - 2014

situation is uncertain and complex, and when bias is likely. Non-experts who know the Golden Rule can identify dubious forecasts … quickly and inexpensively. To date, ignorance of research findings, bias, sophisticated statistical procedures, and the …

Persistent link: https://www.econbiz.de/10011257908

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Biased calculations: Numeric anchors influence answers to math equations

Smith, Andrew R.; Windschitl, Paul D. - In: Judgment and Decision Making 6 (2011) 2, pp. 139-146

People must often perform calculations in order to produce a numeric estimate (e.g., a grocery-store shopper estimating the total price of his or her shopping cart contents). The current studies were designed to test whether estimates based on calculations are influenced by comparisons with...

Persistent link: https://www.econbiz.de/10008855789

Will credit rating agency reforms be effective?

Boylan, Scott J. - In: Journal of Financial Regulation and Compliance 20 (2012) 4, pp. 356-366

identifies unconscious bias as a source of inaccuracy in the credit ratings process. It examines prior behavioral research on … unconscious bias, and uses this research to identify structural issues within the credit ratings industry that give rise to biased … offers additional reforms aimed at combating unconscious bias. Findings – Recent government reforms will be most effective in …

Persistent link: https://www.econbiz.de/10014870222

Modified sales comparison method: valuing under (un)certainty

Jansen van Vuuren, David - In: Journal of Property Investment & Finance 35 (2017) 1, pp. 101-110

second purpose is to address practitioner and end user bias, which if unaddressed can lead to potentially inconsistent …

Persistent link: https://www.econbiz.de/10014899009

Forecasts from biased experts: a “meta‐credibility” problem

Powers, Michael R. - In: The Journal of Risk Finance 6 (2005) 1, pp. 47-59

Purpose – In forecasting unknown quantities, risk and finance decision makers often rely on one or more biased experts, statistical specialists representing parties with an interest in the decision maker's final forecast. This problem arises in a variety of contexts, and the decision maker may...

Persistent link: https://www.econbiz.de/10014901352

Problem-solving abilities of managers: inflated self-efficacy beliefs

Koc, Erdogan; Yurur, Senay; Ozsahin, Mehtap - In: Journal of Hospitality and Tourism Insights 6 (2022) 5, pp. 2273-2297

Purpose This study compared the results of self-report and ability-based tests of problem-solving abilities of 144 hospitality managers working at hotels and restaurants through an online survey. In the first stage of the study, the managers were asked to fill in the self-report problem-solving...

Persistent link: https://www.econbiz.de/10014873816

Biases in risk assessments under EU anti-money laundering law – evidence of the better-than-average effect from Germany

Haffke, Lars - In: Journal of Money Laundering Control 26 (2022) 4, pp. 751-766

Purpose Anti-money laundering (AML) obligations follow a risk-based approach, making their extent subject to the degree of AML risk. Money Laundering Reporting Officers (MLROs) must constantly assess risks, for example, by conducting annual risk assessments of the company. The purpose of this...

Persistent link: https://www.econbiz.de/10014886711