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Renz, Erich ; Müller, Marvin M. ; Böhm, Kim Leonardo

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

DokumentenartArtikel
Titel eines Journals oder einer ZeitschriftJournal of Business Economics
Verlag:Springer
Band:93
Seitenbereich:S. 1309-1354
Datum13 März 2023
InstitutionenWirtschaftswissenschaften > Institut für Betriebswirtschaftslehre > Lehrstuhl für Innovations- und Technologiemanagement (Prof. Dr. Michael Dowling)
Identifikationsnummer
WertTyp
10.1007/s11573-023-01139-7DOI
Klassifikation
NotationArt
C91 - D81 - D91 - M21 - O33Journal of Economics Literature Classification
Stichwörter / KeywordsBehavioral experiment · Managerial decisions · Nudging · Risk aversion · Uncertainty aversion
Dewey-Dezimal-Klassifikation300 Sozialwissenschaften > 330 Wirtschaft
StatusVeröffentlicht
BegutachtetJa, diese Version wurde begutachtet
An der Universität Regensburg entstandenZum Teil
URN der UB Regensburgurn:nbn:de:bvb:355-epub-540189
Dokumenten-ID54018

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