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Judgment in Managerial Decision Making
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How do you improve your decision-making abilities in order to make sound judgments? Combining behavioral decision research into the organizational realm, this book examines judgment in a variety of managerial contexts. It provides readers with a systematic framework for using psychological findings to improve judgment. It also offers a critique of the classic economic model of decision-making and explains how to create opportunities to make better decisions.
Judgment in Managerial Decision Making provides that training to students by creating an awareness of the decision-making process, by allowing students to change their decision-making processes, and by offering strategies for improving these processes so that they become part of the reader's permanent behavior. Re-written as a result of feedback from both colleagues and students, the fourth edition of this classic book provides even more interesting and contemporary examples of real-world decisions. This edition includes a new chapter on motivational biases (chapter 6), which examines how our motivations affect the rationality of our thoughts, and examines managerial decision-making from both individual and multi-party perspectives. By making use of these chapters, the individual can make permanent improvements to future decisions.