Debiasing Management Decisions: Overcoming the practice/theory gap within the managerial decision process

Item Type Conference or Workshop Item (Paper)
Abstract The impact of cognitive biases on (managerial) decisions has been recognized over the last decades with a recent surge due to the COVID-19 based policy making. This article analyzes existing debiasing techniques to mitigate the influence of cognitive biases on (managerial) decisions and links the theoretical perspective with the practice. As debiasing techniques have a surprisingly little awareness among managers a card-sort experiment was applied to search for a more practice-oriented understanding and structure of debiasing techniques with the goal of developing a framework that helps practitioners to integrate debiasing techniques more easily in their decision processes. The result of the experiment shows 9 clusters of debiasing techniques (checklists, preparation, what if?, group debiasing, reason analogically, in-process debiasing, starting viewpoints, involvement, and calibration) which can be implemented in different phases of a decision process and thus may help to improve (managerial) decisions in times of uncertainty.
Authors Muntwiler, Christian
Language English
Subjects business studies
HSG Classification contribution to scientific community
Date 2021
Event Title TAKE 2021 Theory and Applications in the Knowledge Economy
Event Location Porto
Event Dates July 7th - 9th
Depositing User Christian Muntwiler
Date Deposited 07 May 2021 13:20
Last Modified 20 Jul 2022 17:45
URI: https://www.alexandria.unisg.ch/publications/263136

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Muntwiler, Christian: Debiasing Management Decisions: Overcoming the practice/theory gap within the managerial decision process. 2021. - TAKE 2021 Theory and Applications in the Knowledge Economy. - Porto.

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https://www.alexandria.unisg.ch/id/eprint/263136
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