Book description
How do people process different inputs and make complicated decisions? Researchers have long sought to shed increased light on the inner workings of the human brain and how people process different inputs and make complicated decisions. The topic is of particular interest to managers. This article reviews a selection of recent articles from academic journals. The researchers examined the following topics related to decision making: •How “psychological distancing” can mitigate the negative effects of information overload; •How greater ambidexterity -- the ability to switch between practices supporting “exploitation” of familiar options and “exploration” of new ones -- can lead to better decision-making performance; •How well-designed decision default rules can lead to desirable outcomes; •How allowing one’s mind to wander can lead to as much satisfaction with one’s choices as controlled methods; •How seeking advice affects perceptions about competence; •And how people tend to overemphasize past performance in creating expectations for the future.Table of contents
Product information
- Title: Why You Decide the Way You Do
- Author(s):
- Release date: January 2015
- Publisher(s): MIT Sloan Management Review
- ISBN: 53863MIT56216
You might also like
article
Why Managers Still Matter
The Industrial Revolution brought the decline of small-scale, cottage production and the rise of large, integrated …
article
Perfecting Your Thinking Skills
Critical thinking — meaning the ability to transcend bias and partial information to draw from objective …
article
Why Customer Participation Matters
Most managers know that listening to customers makes good business sense. Businesses have much to gain …
article
Bringing Fun and Creativity to Work
How do you inspire employees to become more motivated and perform better? By challenging them to …