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When nudges promote neutral behavior: an experimental study of managerial decisions under risk and uncertainty
Renz, Erich
, Müller, Marvin M. und Böhm, Kim Leonardo
(2023)
When nudges promote neutral behavior: an experimental study of managerial decisions under risk and uncertainty.
Journal of Business Economics 93, S. 1309-1354.
Veröffentlichungsdatum dieses Volltextes: 06 Apr 2023 06:35
Artikel
DOI zum Zitieren dieses Dokuments: 10.5283/epub.54018
Zusammenfassung
Managers often make decisions in situations involving risk and uncertainty. To ensure the prosperity of the company, neutral behavior is desirable in such situations. However, when evaluating future-oriented managerial actions, cognitive biases can arise that are manifested as aversions towards risky and uncertain situations, leading to non-optimal decisions. In an online experiment with a ...
Managers often make decisions in situations involving risk and uncertainty. To ensure the prosperity of the company, neutral behavior is desirable in such situations. However, when evaluating future-oriented managerial actions, cognitive biases can arise that are manifested as aversions towards risky and uncertain situations, leading to non-optimal decisions. In an online experiment with a convenience sample of 298 US participants, we investigate deviations from risk- and uncertainty-neutral managerial decisions and apply neutrality-promoting behavioral interventions in a business venture setting. We find that using a recommendation nudge before as well as after making an initial decision improves individual performance to achieve higher neutrality levels. In sum, we show that in managerial decision-making processes, where experience, time, and information are often lacking, simple decision-making aids lead to better decisions.
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Details
| Dokumentenart | Artikel | ||||
| Titel eines Journals oder einer Zeitschrift | Journal of Business Economics | ||||
| Verlag: | Springer | ||||
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| Band: | 93 | ||||
| Seitenbereich: | S. 1309-1354 | ||||
| Datum | 13 März 2023 | ||||
| Institutionen | Wirtschaftswissenschaften > Institut für Betriebswirtschaftslehre > Lehrstuhl für Innovations- und Technologiemanagement (Prof. Dr. Michael Dowling) | ||||
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| Klassifikation |
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| Stichwörter / Keywords | Behavioral experiment · Managerial decisions · Nudging · Risk aversion · Uncertainty aversion | ||||
| Dewey-Dezimal-Klassifikation | 300 Sozialwissenschaften > 330 Wirtschaft | ||||
| Status | Veröffentlicht | ||||
| Begutachtet | Ja, diese Version wurde begutachtet | ||||
| An der Universität Regensburg entstanden | Zum Teil | ||||
| URN der UB Regensburg | urn:nbn:de:bvb:355-epub-540189 | ||||
| Dokumenten-ID | 54018 |
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