Distinguished Scholar Invited Essay Behavioral Decision Making

Autor: Ramon J. Aldag
Rok vydání: 2012
Předmět:
Zdroj: Journal of Leadership & Organizational Studies. 19:133-141
ISSN: 1939-7089
1548-0518
DOI: 10.1177/1548051812442745
Popis: The past few decades have witnessed greatly enhanced interest in behavioral decision theory. Unlike traditional decision theory, which is normative or prescriptive and seeks an optimal solution, behavioral decision theory (although it yields important practical implications) is inherently descriptive, seeking to understand how people actually make decisions. This article discusses rationality and its limits, approaches to examination of decision processes, and consequences of limits on rationality. Issues relating to the clinical-actuarial controversy and automatic decision making are then addressed. Two approaches to improving decision making–by use of statistical groups and prediction markets as well as by implementation of forms of paternalistic intervention–are examined. Implications for leadership and organizations are then offered.
Databáze: OpenAIRE