Bounded decision making
Subtitle: from description to improvement
By: Dolly Chugh, Katherine L. Milkman, Max H. Bazerman
Contributors: Milkman, Katherine L.; Bazerman, Max H.; Harvard Business School
Series: Working paper / Harvard Business School -- 08-102; Working paper (Harvard Business School) -- 08-102
Publisher: Harvard Business School
Published: 2008
Place of publication: Boston
Language: eng
Number of pages: 27
Description: The optimal moment to address the question of how to improve human decision making has arrived. Thanks to fifty years of research by judgment and decision making scholars, psychologists have developed a detailed picture of the ways in which human judgment is bounded. This paper argues that the time has come to focus attention on the search for strategies that will improve bounded judgment because decision making errors are costly and are growing more costly, decision makers are receptive, and academic insights are sure to follow from research on improvement. In addition to calling for research on improvement strategies, this paper organizes the existing literature pertaining to improvement strategies, highlighting promising directions for future research.
Notes: "June 2008"--Publisher's web site.

Includes bibliographical references.