(Ir)Rationality of decisions in business research and practice: introduction to the special issue

Abstract

With this special issue ''(Ir)Rationality of decisions in business research and practice,'' Business Research embarks on a new strategy to publish special issues on cross-over topics of general interest to a large number of subfields in business research.By doing so Business Research closely supports and complements the activities of the German Academic Association for Business Research (VHB) to reintegrate the many diverging subfields of business research on issues of common interest.The title of this special issue focuses on the implications of (ir)rationality on business research and, hence, is particularly suited to bring together the widely diverging subfields, each of which is affected by the (ir)rationality of its actors.This is why this title has been chosen as the motto of the 2018 Annual Conference in Magdeburg.For the same reason it is the perfect title for the kick-off special issue.Understanding seemingly irrational behavior is an integral part of business research.According to the traditional paradigm, all human decisions are rational and informed, motivated by an accurate assessment of goods and services' utility.Under this set of assumptions, all actors in the marketplace try to maximize their profit or utility.In contrast, at the intersection of standard economics and behavioral sciences (e.g., behavior economics or consumer psychology), researchers realize that &

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