The DOI matches its Crossref record; 92 of the 92 references it cites were found in a registry or an index.
Decision making and uncertainty: The role of heuristics and experience in assessing a politically hazardous environment
Open accessAbstract
Heuristics have long been associated with problems of bias and framing error, often on the basis of simulation and laboratory studies. In this field study of a high‐stakes strategic decision, we explore an alternative view that heuristics may serve as powerful cognitive tools that enable, rather than limit, decision making in dynamic and uncertain environments. We examine the cognitive efforts of senior decision makers of an inexperienced multinational, as they assessed a potential acquisition in a politically hazardous African country. They applied a diversity of heuristics, some with clear building block rules, to build small world representations of this very uncertain strategic context. More expert individuals drew on experiential learning to build richer representations of the political hazard environment . Copyright © 2014 John Wiley & Sons, Ltd.
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Cited by
Heuristics as adaptive decision strategies in management: HEURISTICS IN MANAGEMENT
Artinger, F., Petersen, M., Gigerenzer, G., & Weibler, J. (2015) · Journal of Organizational Behavior · doi:10.1002/job.1950 · Cited by 255
N. Lane, J., Friis, S., Cai, T., Menietti, M., Weber, G., & Guinan, E. (2024) · doi:10.2139/ssrn.4769282 · Cited by 3
Metadata
- Authors
- Maitland, E., & Sammartino, A.
- Venue
- Strategic Management Journal
- Publisher
- Wiley
- Published
- 2014-07-18
- Volume
- 36
- Issue
- 10
- Pages
- 1554-1578
- ISSN
- 0143-2095 (ISSN-L)
- 1097-0266
- OpenAlex
- W1891847548
- Cited by
- 276
- References
- 92
- FWCI
- 10.58
- Type
- journal article
- Language
- en
- Open access
- green
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