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Thousands of funding projects from diverse fields have been launched every year, and the approval decisions highly depend on reviewers’ evaluation results. The purpose of this paper is to test how the cognitive proximity and evaluation experience influence decision quality. By using the Negative Binomial Model to test 1,261 observations of the 2017 Beijing Innofund data, the study finds that cognitive proximity has an inverted “U-shape” relation to decision quality. Moreover, experience in evaluation cannot only exert a positive influence on decision quality but also a positive influence on the inverted U shape between cognitive proximity and decision quality. These findings fill the gaps in the current research on cognition-based perspective by specifying the mechanism of cognitive proximity in decision making in the evaluation field and further advance management research by elucidating the evaluating experience on evaluation.
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