Framing Decisions Decision Making That Accounts for Irrationality, People and Constraints

ISBN-10: 1118014898
ISBN-13: 9781118014899
Edition: 2013
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Description: Framing Decisions offers executives an understanding of what decision–making entails, what the traditional paradigm has preached, and how a new decision–making paradigm can remedy the deficiencies of the old. While no longer sufficient for today′s  More...

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Book details

Copyright year: 2013
Publisher: John Wiley & Sons, Limited
Publication date: 12/11/2012
Binding: Hardcover
Pages: 304
Size: 7.25" wide x 9.25" long x 1.25" tall
Weight: 1.650
Language: English

Framing Decisions offers executives an understanding of what decision–making entails, what the traditional paradigm has preached, and how a new decision–making paradigm can remedy the deficiencies of the old. While no longer sufficient for today′s complex decision–making environment, there is much to be learned from the mechanical techniques that have been developed over the past fifty years. Consequently, in addition to providing insights into the new decision–making environment, this book addresses proven decision–making techniques that can help executives improve their decision–making skills.

List of Figures
Preface
An Evolving Decision-Making Paradigm
The Traditional Paradigm
The Real World
Rethinking Decision Making
The Cognitive Challenge
Adjusting to the New Paradigm
Conclusion: It Isn't Easy Getting It Right
Decisions and Decision Making
Different Perspectives on Decision Making
Rational, Irrational, Nonrational Decisions
Dealing with Unknowns
The Social Context of Decision Making
The Social Context
The Social Space of Decision Making
Allison's Multiple Perspectives on Decision Making
The Link Between Stakeholder and Decision-Maker
The Implementation Challenge
Accommodating External Forces
Conclusion
The Organizational Dimension
Organizational Structure
Organizational Process
People in Organizations
Organizational Culture
Conclusion
The Moral Dimension
Broad Categories of Moral Failings
Moral Hazard
Principal-Agent Dilemma
Morality, Ethics, and Legality: They Are Different
Last Word
People as Decision-Makers
Factors That Affect How Individuals Make Decisions
A Unique Perspective on Personality and Decision Making: Elliott Jaques, Human Capability, and Time Span of Discretion
Conclusion
The Wisdom-and Foolishness-of Crowds
Individual Versus Group Decision-Participation Spectrum
Making Decisions in Groups
Degrees of Consensus
Defining Consensus
Reaching a Decision
The Wisdom and Foolishness of Crowds
Honeybee Decision Making
The Biology of Decision Making
Brain Basics
The Lazy Brain
Visual Illusions: What You See Isn't What You Get
Examples of Visual Illusions
Brain Deception Beyond Visual Illusions
The Maturing Brain
Conclusion
Toward an Empirically Rooted Understanding of Decision Making
In the Beginning: Toward an Empirical View
Evidence of Unconscious Deliberation in Decision Making: Three Empirical Approaches
The Contribution of Empirical Research: Where Do We Stand?
Empirical Research on Decision Making in the Neurosciences
The Contribution of Neuropsychology Research: Where Do We Stand?
The Need for Research on Decisions of Consequence
Seven Lessons
Seven Lessons for Highly Effective Decision-Makers
Last Word
References
Acknowledgments
The Author
Index

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