Judgment in Managerial Decision Making / Edition 7

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Overview

When faced with a decision, we all believe we're weighing the facts objectively and making rational, thoughtful decisions. In fact, science tells us that in situations requiring careful judgment, every individual is influenced by his or her own biases to some extent. Drawing on the very latest behavioral decision research, Judgment in Managerial Decision Making, Seventh Edition examines judgment in a variety of managerial contexts and provides important insights that can help you make better managerial decisions.

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

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Editorial Reviews

Booknews
Provides training in decision making by creating awareness of the decision-making process and by offering strategies for improving these processes. For use in undergraduate economics, psychology, and organizational behavior courses. This fourth edition provides more contemporary examples of real-world decisions, a new chapter on motivational biases, and expanded material on decision-making from individual and multi-party perspectives. Annotation c. by Book News, Inc., Portland, Or.
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Product Details

  • ISBN-13: 9780470049457
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 8/18/2008
  • Edition description: Older Edition
  • Edition number: 7
  • Pages: 230
  • Product dimensions: 6.10 (w) x 9.10 (h) x 0.60 (d)

Meet 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, the Psychology 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. Professor Bazerman was named one of the top 30 authors, speakers, and teachers of management by Executive Excellence in each of their two most recent rankings.

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.  He received his Ph.D. in Organization Behavior from Northwestern University.

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Table of Contents

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

References 200

Index 223

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