scholarly journals Behavioral Bias Within The Decision Making Process

2011 ◽  
Vol 6 (8) ◽  
Author(s):  
Inga Chira ◽  
Michael Adams ◽  
Barry Thornton
Keyword(s):  
Decision Making ◽  
Behavioral Finance ◽  
Cognitive Biases ◽  
Business Students ◽  
Decision Making Process ◽  
Font Size ◽  
Human Decision ◽  
The Individual ◽  
Graduate Business Students ◽  
Biases And Heuristics

<p class="MsoNormal" style="text-align: justify; line-height: normal; margin: 0in 0.5in 0pt; mso-layout-grid-align: none;"><span style="font-family: &quot;Times New Roman&quot;,&quot;serif&quot;; font-size: 10pt; mso-bidi-font-weight: bold;">Behavioral finance studies how subjective behavioral elements introduce distortions in the individual&rsquo;s decision-making process. <span style="mso-spacerun: yes;">&nbsp;</span></span><span style="font-family: &quot;Times New Roman&quot;,&quot;serif&quot;; font-size: 10pt;">The empirical study of systematic errors in cognitive reasoning and perception, and ultimately what these errors reveal about the individual&rsquo;s underlying thought processes, is often referred to as investor heuristics and biases.<span style="mso-spacerun: yes;">&nbsp; </span>This paper investigates the cognitive biases and heuristics to which business students are subject. This was achieved by administering a questionnaire and collecting empirical evidence about both undergraduate and graduate business students&rsquo; own perceptions of bias.<span style="mso-spacerun: yes;">&nbsp; </span>The psychological phenomenon known as bias and its presence in human decision making, both financial and non-financial, will provide additional insight on the subject of investor irrationality and broaden the ideals of rationality assumed in classical financial theory. <span style="mso-spacerun: yes;">&nbsp;</span></span></p>

The Role of Cognitive Bias in Breast Radiology Diagnostic and Judgment Errors

2020 ◽  
Vol 2 (4) ◽  
pp. 382-389
Author(s):  
Vilert A Loving ◽  
Elizabeth M Valencia ◽  
Bhavika Patel ◽  
Brian S Johnston
Keyword(s):  
Decision Making ◽  
Cognitive Bias ◽  
Cognitive Biases ◽  
Organizational Level ◽  
Individual Level ◽  
Gambler’S Fallacy ◽  
Satisfaction Of Search ◽  
Human Decision ◽  
The Individual

Abstract Cognitive bias is an unavoidable aspect of human decision-making. In breast radiology, these biases contribute to missed or erroneous diagnoses and mistaken judgments. This article introduces breast radiologists to eight cognitive biases commonly encountered in breast radiology: anchoring, availability, commission, confirmation, gambler’s fallacy, omission, satisfaction of search, and outcome. In addition to illustrative cases, this article offers suggestions for radiologists to better recognize and counteract these biases at the individual level and at the organizational level.

Social Cognitive Bias

2018 ◽  
pp. 110-132
Keyword(s):  
Decision Making ◽  
Social Group ◽  
Social Cognitive ◽  
Cognitive Biases ◽  
Social Groups ◽  
Ingroup Bias ◽  
Decision Making Process ◽  
The Social ◽  
The Individual ◽  
Social Decision Making

Within social psychology and sociology there is a field of study in charge of studying how the social group affects the individual in all areas. In fact, several studies have found that the social decision-making process can be influenced by cognitive biases. This fields establishes two large categories of social groups called ingroup and outgroup depending on whether individuals are part of this group or not. Therefore, an ingroup is a social group to which a person psychologically identifies as being a member. By contrast, an outgroup is a social group with which an individual does not identify. Moreover, the psychological membership of social groups and categories can be related with different aspects such as race, profession, religion, among others, so that individuals can categorize themselves and others in different ways, usually dependent on the context. This categorization that individuals do based in the pertinence to a group and the influence of the group on the person reproduce in the person social cognitive biases that can lead to erroneous decisions. Within these biases the best known is the ingroup bias. This chapter explores some of these social biases and how they influence the decision-making process.

The transformation of the decision-making process on the part of economic agents influenced by social constraints

2020 ◽  
Vol 16 (7) ◽  
pp. 1202-1222
Author(s):  
M.V. Grechko ◽  
L.A. Kobina ◽  
S.A. Goncharenko
Keyword(s):  
Decision Making ◽  
Consumer Choice ◽  
Social Constraints ◽  
Decision Making Process ◽  
Economic Knowledge ◽  
Economic Agents ◽  
The Individual ◽  
Contextual Environment ◽  
Economic Constraints ◽  
External Signals

Subject. The article focuses on the decision-making mechanism used by economic agents given the existing social constraints. Objectives. We devise applied toolkit to study how socio-economic constraints transform the decision-making mechanism used by economic agents. Methods. The study involves means of the expert survey, the method that streamlines economic knowledge. Results. Social constraints are illustrated to influence the decision-making mechanism used by economic agents, assuming that the individual mind relies on specific mechanisms to make judgments and decisions. Generally, the mechanisms are very useful, however they may generate serious errors during the decision-making process. Given the social constraints, economic agents were found to follow four mental models to make their decisions in case of the full or partial uncertainty, i.e. the representative relevance, accessibility, relations, heuristics (modeling). Conclusions and Relevance. The scientific ideas herein show that the inner architecture of a choice an individual makes determines his or her decisions. The decisions often depend on the contextual environment that gives external signals perceived by the individual while evaluating alternative ways. The findings can possibly be used as a mechanism to manage the consumer choice.

The Impact of Conflict- Generating Techniques on Student Reactions and Decision Quality

1995 ◽  
Vol 58 (4) ◽  
pp. 39-45
Author(s):  
Granger Macy ◽  
Joan C. Neal
Keyword(s):  
Decision Making ◽  
Business Students ◽  
Decision Quality ◽  
Structured Decision Making ◽  
Constructive Conflict ◽  
Significant Difference ◽  
Student Reactions ◽  
Graduate Business Students ◽  
The Impact

This study examined the effectiveness of conflict-generating decision-making techniques in the college classroom. Utiliz ing constructive conflict in classroom exercises may affect decision-making quality and student reactions. This study of undergraduate and graduate business students found significant difference in both the quality of the decisions and in student reactions to the techniques. The findings and discussion indicate the potential for appropriate use of structured decision-making techniques in the classroom.

scholarly journals Studi tentang Motivasi ARMY Jakarta dalam Membeli Merchandise Idola (Studi Kasus Kaos Uniqlo X BT21)

Prologia ◽  
2020 ◽  
Vol 4 (1) ◽  
pp. 128
Author(s):  
Johanna Ruthllianie ◽  
Diah Ayu Candraningrum
Keyword(s):  
Decision Making ◽  
Parasocial Interaction ◽  
Decision Making Process ◽  
Consumer Decision Making ◽  
Consumer Decision ◽  
Consumer Motivation ◽  
Individual Motivation ◽  
Public Figures ◽  
The Individual

This research attempts to adopt the individual motivation behind the decision in purchasing an idol merchandise. In addition the resources focused on the concept of consumer motivation and the consumer decision making process. The concept of motivation includes sources of motivation, divided into motivational intrinsic and motivation extrinsic. While the consumer decision-making process is divided into five steps which are recognized the need, looking for information, evaluation of decision, buying decision, and the consumer behavior after purchasing. The researcher uses a case study of the shirt Uniqlo X BT21 with qualitative method. The results of the research which is the consumer motivation lead to purchasing a Uniqlo X BT21 shirt. Parasocial interaction in fact can influence consumers to purchase merchandise. The more closely the relation between society can lead to higher motivation to purchase the needs. The collaboration between Uniqlo and BTS succeeds in attracting the fans. The results of collaboration between brand and public figures now is a strategy for creating promotional products. Entrepreneurs, who also use this strategy need to see the opportunity by using this phenomenon. Penelitian ini mengangkat tentang motivasi individu dalam keputusan pembelian merchandise idola. Konsep yang digunakan yaitu motivasi dan keputusan pembelian. Konsep motivasi meliputi sumber motivasi, yaitu melalui motivasi intrinsik dan motivasi ekstrinsik. Sedangkan untuk keputusan pembelian melalui lima tahapan yaitu, mengenali kebutuhan, pencarian informasi, evaluasi alternatif, keputusan pembelian dan perilaku pasca pembelian. Penelitian ini menggunakan studi kasus terhadap kaos Uniqlo X BT21 dengan metodologi kualitatif. Hasil penelitian ini yaitu motivasi yang menyebabkan pembelian kaos Uniqlo X BT21. Interaksi parasosial terbukti mampu untuk mempengaruhi pembelian merchandise. Semakin lekat sebuah hubungan parasosial, maka akan semakin tinggi motivasi minat beli. Kolaborasi yang diadakan Uniqlo dengan BTS dapat dikatakan berhasil menarik minat penggemar. Sehingga kolaborasi merek dan public figure kini merupakan sebuah strategi yang dapat dilakukan untuk mempromosikan produk. Pebisnis perlu melihat peluang yang hadir dalam fenomena tersebut.

scholarly journals INFLUENCE OF THE REPLANTING AGE ON YIELD AND GROWTH OF EUCALYPT CLONAL STANDS

2020 ◽  
Vol 44 ◽  
Author(s):  
Geraldo Magela Pereira Filho ◽  
Laércio Antônio Gonçalves Jacovine ◽  
Bruno Leão Said Schettini ◽  
Haroldo Nogueira de Paiva ◽  
Paulo Henrique Villanova ◽  
...  
Keyword(s):  
Decision Making ◽  
Eucalyptus Grandis ◽  
T Test ◽  
Decision Making Process ◽  
Eucalyptus Urophylla ◽  
Productivity Losses ◽  
Individual Volume ◽  
Npk Fertilizer ◽  
The Individual ◽  
Ant Control

ABSTRACT The growth of an eucalypt plantation should be monitored to identify factors that influence its development, helping in the decision-making process, aiming to reduce productivity losses. Thus, the objective of the present study was to evaluate the influence of the age of replanting on the yield and growth of eucalypt stands. The experiment was conducted in an area of CENIBRA S.A. Company, and established in a commercial plantation in August 2011. The application of herbicide and the ant control were performed in total area before planting. Seedlings of Eucalyptus urophylla × Eucalyptus grandis clones in 3.0 × 2.5 m spacing were used. Limestone (1,500 kg ha-1) was applied in total area before planting and 100 g plant-1 of NPK fertilizer (06-30-06) was applied immediately after planting. Four months after the installation of the experiment, 300 kg ha-1 of NPK (06-10-29) was applied. Treatments consisted of four dates of seedling replanting (0, 20, 40 and 80 days after planting) without complementary fertilization, and two treatments (replanting 40 and 80 days after planting) with supplementary fertilization (100g plant-1 NPK 06-30-06). The individual volume of replanting trees was 46.6% lower than of non-replanted ones. Treatments with complementary planting fertilization did not differ (p > 0.05) by the T-test. It is concluded that the longer the time between planting and replanting, the smaller the individual volume of the replanting trees and that the complementary fertilization in seedlings replanted does not favor their growth.

The Limitations of Financial Reporting on Innovation and Its Value-Relevance for the Investor's Decision-Making Process

2019 ◽  
pp. 390-418
Author(s):  
Francisco Leote ◽  
Ana Damião
Keyword(s):  
Decision Making ◽  
Financial Reporting ◽  
Value Relevance ◽  
Financial Statements ◽  
Individual Characteristics ◽  
Decision Making Process ◽  
Accounting Systems ◽  
Financial Factors ◽  
The Individual ◽  
Industry Sectors

This chapter aims to present some limitations of financial reporting on innovation with an impact on the investor's decision-making process. In order to do so, the authors show how accounting recognizes and measures innovation factors: the intangibles. Based on the literature, the authors discuss how the value relevance of financial reporting on innovation is conditioned by non-financial factors. The impacts of the adoption of IFRSs, the effect of the industry sectors and the effect of the individual characteristics of the different countries on the value relevance of the intangible assets are analyzed. The literature suggests a decrease in the value relevance of financial statements due to the manner in which intangibles are recognized and measured in accounting. However, financial reporting on innovation is value relevant to the investor's decision-making and is conditioned by non-financial factors. Value relevance differs among different industry sectors, between different countries and is conditioned by the accounting systems used in the preparation of the financial information.

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