组织的经济学与管理学（英文）ch13_Biases_in_decision_making教材教学课件.ppt

Chapter 13 Biases in decision making George Hendrikse;Figure 13.2: Tendencies in decision making ;Organisational measures;Short term focus;1. Procrastination;Organisational responses;Make results visible;2. Obedience;Shortsightedness;Law of small numbers;Striking information gets too much weight in the decision process of people.;Prospect theory;Framing;Reference point;Two empirical observations;How do you depict these observations in a figure?;Value;Three properties;Implication for behaviour from;1. Loss aversion;Organisational change;Costs ‘at once’ because U(-1)+U(-1)+U(-1) = 3U(-1) U(-3) Benefits ‘little by little’ because U(3) U(1) + U(1) + U(1) ;Salary structure;Response to uncertainty;Figure 13.6: Gains and risk averse behaviour;Figure 13.7: Losses and risk seeking behaviour;2. Decreasing sensitivity;Framing;Application: Money illusion;Figure 13.8: Gains far away from the reference point are less attractive;Governance implication of loss aversion;This may be due to reference point situation dependent allocation of limited cognitive units;Implication;Institutions mould, and are moulded by, human behaviour.;Institutions determine human behaviour;Human behaviour determines institutions;Criticism on incomplete contracting theory