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Judgment in Managerial Decision Making, 7th Edition

by: Max H. Bazerman (Harvard University); Don A. Moore (Carnegie Mellon University)

Judgment in Managerial Decision Making, 7th Edition

by: Max H. Bazerman (Harvard University); Don A. Moore (Carnegie Mellon University)

ISBN 13:
9780470049457
ISBN 10:
0470049456
Edition: 7th
Format: Hardcover
Copyright: 08/01/2008
Publisher: WILEY
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Summary

Behavioral decision research has developed considerably over the past 25 years, and now provides important insights into managerial behavior. Bazerman & Moore's Judgment in Managerial Decision Making, 7 th edition embeds behavioral decision research into the organizational realm by examining judgment in a variety of managerial contexts.This book includes information that is useful for anyone seeking further information on improving his or her judgment and decision making. Throughout, you'll find numerous hands-on decision exercises and examples from the author's extensive executive training experience that will help you improve the quality of your managerial judgment.

Introduction to Managerial Decision Making	p. 1
The Anatomy of Decisions	p. 1
System 1 and System 2 Thinking	p. 3
The Bounds of Human Rationality	p. 4
Introduction to Judgmental Heuristics	p. 6
An Outline of Things to Come	p. 10
Common Biases	p. 13
Biases Emanating from the Availability Heuristic	p. 18
Biases Emanating from the Representativeness Heuristic	p. 21
Biases Emanating from the Confirmation Heuristic	p. 28
Integration and Commentary	p. 40
Bounded Awareness	p. 42
Inattentional Blindness	p. 46
Change Blindness	p. 47
Focalism and the Focusing Illusion	p. 48
Bounded Awareness in Groups	p. 50
Bounded Awareness in Strategic Settings	p. 51
Bounded Awareness in Auctions	p. 59
Discussion	p. 61
Framing and the Reversal of Preferences	p. 62
Framing and the Irrationality of the Sum of Our Choices	p. 65
We Like Certainty, Even Pseudocertainty	p. 67
The Framing and the Overselling of Insurance	p. 70
What's It Worth to You?	p. 71
The Value We Place on What We Own	p. 72
Mental Accounting	p. 74
Do No Harm, the Omission Bias, and the Status Quo	p. 76
Rebate/Bonus Framing	p. 78
Joint Versus Separate Preference Reversals	p. 79
Conclusion and Integration	p. 82
Motivational and Emotional Influences on Decision Making	p. 84
When Emotion and Cognition Collide	p. 84
Positive Illusions	p. 90
Self-Serving Reasoning	p. 94
Emotional Influences on Decision Making	p. 96
Summary	p. 99
The Escalation of Commitment	p. 101
The Unilateral Escalation Paradigm	p. 103
The Competitive Escalation Paradigm	p. 105
Why Does Escalation Occur?	p. 108
Integration	p. 112
Fairness and Ethics in Decision Making	p. 113
Perceptions of Fairness	p. 113
Bounded Ethicality	p. 122
Conclusion	p. 134
Common Investment Mistakes	p. 136
The Psychology of Poor Investment Decisions	p. 138
Active Trading	p. 145
Action Steps	p. 147
Making Rational Decisions in Negotiations	p. 151
A Decision-Analytic Approach to Negotiations	p. 152
Claiming Value in Negotiation	p. 155
Creating Value in Negotiation	p. 156
The Tools of Value Creation	p. 161
Summary and Critique	p. 166
Negotiator Cognition	p. 168
The Mythical Fixed Pie of Negotiation	p. 168
The Framing of Negotiator Judgment	p. 169
Escalation of Conflict	p. 171
Overestimating Your Value in Negotiation	p. 172
Self-Serving Biases in Negotiation	p. 174
Anchoring in Negotiations	p. 176
Conclusions	p. 178
Improving Decision Making	p. 179
Use Decision-Analysis Tools	p. 181
Acquire Expertise	p. 186
Debias Your Judgment	p. 189
Reason Analogically	p. 191
Take an Outsider's View	p. 193
Understand Biases in Others	p. 195
Conclusion	p. 198
References	p. 200
Index	p. 223
Table of Contents provided by Ingram. All Rights Reserved.

Amazon no longer offers textbook rentals. We do!

Judgment in Managerial Decision Making, 7th Edition

Judgment in Managerial Decision Making, 7th Edition

9780470049457

0470049456

Summary

Author Biography

Table of Contents

Supplemental Materials

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Amazon no longer offers textbook rentals. We do!

Judgment in Managerial Decision Making, 7th Edition

Judgment in Managerial Decision Making, 7th Edition

9780470049457

0470049456

Summary

Author Biography

Table of Contents

Supplemental Materials

Write a Review

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