Le decisioni manageriali e la rivoluzione comportamentale (Managerial decisions and behavioral revolution)

  • Maria Laura Frigotto
  • Alessandro Rossi
  • Sandro Trento
  • Enrico Zaninotto
Keywords: managerial decision-making, behavioural decision-making, problem-solving, bias and heuristics

Abstract

Purpose of the paper: This paper describes how experimental economics and cognitive psychology have affected the managerial literature on behavioural decision-making; criticizes the widely adopted approach in the managerial literature which rely exclusively on topics and methods of modern behavioural economics; proposes a different approach, that integrates the “Carnegie tradition” as a key element for a complete behavioural revolution in managerial decision-making.

Methodology: A comparative and interdisciplinary perspective is adopted to discuss behavioural decision-making applications to management studies and practices.

Findings: To accomplish a “behavioural revolution” in management, the paper advocates the need to integrate the “decision bias correction” approach within a larger frame encompassing behavioural results in an evolutionary, ecological and constructive problem solving setting.

Research Limitations: This paper does not address the whole literature on managerial decision making, but compares recent experimental studies with the behavioural approach of the Carnegie School, aiming at highlighting shortcoming and potentiality for managerial decision making research and practice.

Practical Implications: The paper suggests that a stronger consideration of the behavioural approach to the study of decision-making would imply a revision of managerial practice.

Originality of the paper: The work provides guidelines for the development of an original behavioural research agenda integrating the study of corrections to rational choice models with the analysis of actual decision-making. This implies taking into account phenomena such as learning and selection, including the ecological side of behaviour, and to deepen the relationship between adopted decision-making models and the contingent nature of choice problems faced by decision makers.

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Published
2014-12-30