On the Failure of Hindsight-Biased Principals to Delegate Optimally

Autor:	Lydia Mechtenberg, David Danz, Dorothea Kübler, Julia Christiane Schmid
Rok vydání:	2015
Předmět:	Delegate Recall Delegation Strategy and Management media_common.quotation_subject Applied psychology Management Science and Operations Research Computer security computer.software_genre Psychology Construct (philosophy) computer Hindsight bias media_common
Zdroj:	Management Science. 61:1938-1958
ISSN:	1526-5501 0025-1909
Popis:	With the help of a simple model, we show that the hindsight bias can lead to inefficient delegation decisions. This prediction is tested experimentally. In an online experiment that was conducted during the FIFA World Cup 2010, participants were asked to predict a number of outcomes of the ongoing World Cup and had to recall their assessments after the outcomes had been realized. Their answers were used to construct individual measures of the hindsight bias. The participants also had to make choices in a delegation game. Our data confirm that hindsight-biased subjects more frequently fail to delegate optimally than subjects whom we have classified as not hindsight biased. Data, as supplemental material, are available at http://dx.doi.org/10.1287/mnsc.2014.2087 . This paper was accepted by Teck-Hua Ho, judgment and decision making.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::26fc8eaea088fe2980243115f755c306 https://doi.org/10.1287/mnsc.2014.2087 Zobrazit plný text záznamu Plný text ve formátu PDF