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Decision Context (decision + context)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	80%

Selected Abstracts

The Relationship Among Biases, Misperceptions, and the Introduction of Pioneering Products: Examining Differences in Venture Decision Contexts

ENTREPRENEURSHIP THEORY AND PRACTICE, Issue 2 2002
Mark Simon
Although biases influence the decision to take entrepreneurial actions, studies have not differentiated among entrepreneurial decision environments. These environments vary greatly and affect which biases arise and their context-specific consequences. Focusing on the role of firm size, age, and type of product introduction, we propose that entrepreneurs in smaller, younger, firms, who are considering pioneering, are more likely to exhibit illusion of control, law of small numbers, and reasoning by analogy. These biases contribute to underestimating competition, overestimating demand, and overlooking requisite assets. We hope to spur researchers to examine information processing across different types of entrepreneurial firms and actions. [source]

A fuzzy goal programming procedure for solving quadratic bilevel programming problems

INTERNATIONAL JOURNAL OF INTELLIGENT SYSTEMS, Issue 5 2003
Bijay Baran Pal
This article presents a fuzzy goal programming (FGP) procedure for solving quadratic bilevel programming problems (QBLPP). In the proposed approach, the membership functions for the defined fuzzy objective goals of the decision makers (DM) at both the levels are developed first. Then, a quadratic programming model is formulated by using the notion of distance function minimizing the degree of regret to satisfaction of both DMs. At the first phase of the solution process, the quadratic programming model is transformed into an equivalent nonlinear goal programming (NLGP) model to maximize the membership value of each of the fuzzy objective goals on the extent possible on the basis of their priorities in the decision context. Then, at the second phase, the concept of linear approximation technique in goal programming is introduced for measuring the degree of satisfaction of the DMs at both the levels by arriving at a compromised decision regarding the optimality of two different sets of decision variables controlled separately by each of them. A numerical example is provided to illustrate the proposed approach. © 2003 Wiley Periodicals, Inc. [source]

New product decision making: How chance and size of loss influence what marketing managers see and do

PSYCHOLOGY & MARKETING, Issue 11 2002
David Forlani
This article empirically examines, in a new-product decision context, the relationships among risk propensity, perceived risk, and risky choice decisions, when risk is operationalized as the chance of loss and the size of loss. The results indicate that perceptions of chance of loss directly influence choice among alternatives possessing different chances of loss and gain, whereas risk propensity directly influences choice among alternatives that differ in their size of loss and gain. The findings extend previous research by identifying dimension-specific effects (a) between who the decision maker is and the size of an investment's potential loss, and (b) between what the decision maker sees and the chance that an investment will experience a loss. These results not only contribute to theory, but also provide marketing managers with guidance for their risky choice decisions. The composition of a new product's risk has implications for the decisions marketing managers make, for the placement of managers in risk-sensitive positions, and for the presentation of information to individuals with oversight responsibility for the firm's product strategy decisions. © 2002 Wiley Periodicals, Inc. [source]

Explaining Focal Points: Cognitive Hierarchy Theory versus Team Reasoning,

THE ECONOMIC JOURNAL, Issue 543 2010
Nicholas Bardsley
This article reports experimental tests of two alternative explanations of how players use focal points to select equilibria in one-shot coordination games. Cognitive hierarchy theory explains coordination as the result of common beliefs about players' pre-reflective inclinations towards the relevant strategies; the theory of team reasoning explains it as the result of the players' using a non-standard form of reasoning. We report two experiments. One finds strong support for team reasoning; the other supports cognitive hierarchy theory. In the light of additional questionnaire evidence, we conclude that players' reasoning is sensitive to the decision context. [source]

Comparison study of multi-attribute decision analytic software,

JOURNAL OF MULTI CRITERIA DECISION ANALYSIS, Issue 2-3 2005
Simon French
Abstract In this paper, we discuss the functionality and interfaces of five MCDM software packages. We recognize that no single package is appropriate for all decision contexts and processes. Thus our emphasis is not so much to compare the functionality of the packages per se, but to consider their fit with different decision making processes. In doing so, we hope to provide potential users with guidance on selecting a package that is more compatible with their needs. Moreover, we reflect on the further functionality which we would believe should be developed and included in MCDM packages. Copyright © 2006 John Wiley & Sons, Ltd. [source]