Articlegreen2017

Decision-making: are managers biased by their characters?

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Decision-Making and Behavioral Economics Leadership, Behavior, and Decision-Making Studies Organizational Management and Leadership

Abstract

Many studies have shown that psychology affects consumers’ economic decisions. Indeed, almost everyone occasionally makes economic choices that don’t quite make logical sense. It’s tempting to think professional managers working for a business aren’t as susceptible to this kind of weakness. \nFaced with technological opportunities, for instance, hyper-logical and highly experienced executives should base all their decisions strictly on the merits of each case.

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