Improving Managerial Decision-Making: Molecules about Decision Biases and First Application
Type
conference paper
Date Issued
2016-07-17
Author(s)
Abstract
Our intention is to provide a canonical model (i.e., molecule) to enhance common decision making formulation in system dynamics models. In others words, we contribute to standardize decision making formulations in mathematical models. Our intention is to describe a few biases in mathematical terms in order to overcome the issue of de-scribing biases with different terms. We specifically concentrate on the Kahneman's reference point theory as a basis for several decision making biases.
Language
English
Book title
Proceedings of the 34th International System Dynamics Conference
Publisher
System Dynamics Society
Event Title
34th International Conference of the System Dynamics Society
Event Location
Delft, The Netherlands
Event Date
17.-21.07.2016
Subject(s)
Division(s)
Eprints ID
250307