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Widely recognized by practitioners and academics in fields ranging from behavioral finance to public policy, psychology, and economics, this Seventh Edition of the classic text: Discusses the motivational and emotional influences that affect decision making, Delves into the fairness and ethics involved in the decision-making process, Integrates numerous hands-on decision exercises and examples that will help readers enhance the quality of their managerial judgment, Provides tips and techniques on how to make rational decisions during negotiations, Presents seven critical strategies for improving decision making.
For psychologists, the book outlines a systematic framework for using psychological findings to improve judgment. For the economist, the book suggests a critique of the classic economic model of decision making. Most of all, however, for every manager or financial decision maker, this book offers a clear path to better decisions.
About the Author:
Max H. Bazerman is the Jesse Isidor Straus Professor of Business Administration at the Harvard Business School. In addition, Max is also formally affiliated with the Kennedy School of Government, thePsychology Department, and the Program on Negotiation at Harvard. He is the author or co-author of over 150 research articles and chapters, and the author of numerous other books
About the Author:
Don Moore is an Associate Professor of Organizational Behavior at Carnegie Mellon University's Tepper School of Business, and holder of the Carnegie Bosch Faculty Development chair. Don is also formally affiliated with CMU's Department of Social and Decision Sciences, and he is the founding director of the Center for Behavioral Decision Research
Ch. 1 Introduction to managerial decision making 1
Ch. 2 Common biases 13
Ch. 3 Bounded awareness 42
Ch. 4 Framing and the reversal of preferences 62
Ch. 5 Motivational and emotional influences on decision making 84
Ch. 6 The escalation of commitment 101
Ch. 7 Fairness and ethics in decision making 113
Ch. 8 Common investment mistakes 136
Ch. 9 Making rational decisions in negotiations 151
Ch. 10 Negotiator cognition 168
Ch. 11 Improving decision making 179
Posted February 19, 2009
Consider this scenario: Two groups are playing basketball. One group wears black, the other white. Researchers film each group separately passing a basketball back and forth, and superimpose the two films on a television monitor. They ask research participants to add up the number of passes the players make. Because the separate images of basketballs flying here and there overlap, the counters must pay close attention. Under such circumstances, how many of the observers would fail to see a man dressed as a gorilla stroll through the basketball court while dramatically thumping his chest? Believe it or not, eight out of ten. Scientists call this ¿inattentional blindness.¿ Distinguished Harvard professor Max H. Bazerman refers to such tests as he explains the concept of ¿bounded awareness.¿ When people fail to notice information, their lack of perception may preclude them from making sound decisions. Bazerman fills his book with learned insights, fascinating research and intriguing tests. He exposes the mental biases, skewed logic, false premises and misleading emotions that interfere with good decision making. getAbstract recommends this tantalizing book to those who want to understand the nuts-and-bolts of the thinking process, and to enhance their decision-making prowess.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.