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Decision Equity by Piyush Kumar

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The Case for Managerial Intuition

In the absence of a formal or an informal system that outlines the relationships among the choices made and the series of interrelated possible outcomes that might result, managers tend to rely on their belief systems or commonly accepted models of how actions relate to effect. As they apply these models repeatedly and are even partially successful, their initial beliefs become self-fulfilling, and managers become even more confident in the applicability of these models. Ultimately, the models entrench themselves in the decision-making process, and managers become risk averse to deviating from the principles they initially believed in and found some evidence for.

Therefore, one can make a case for sticking to ...

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