Management Decision: Volume 59 Issue 7

Guest editorialNew challenges for business actors and positive heuristics

Simone Guercini, Christian Lechner

The purpose of this guest editorial is to present an overview of the contributions in this special issue and proposes a positive approach to heuristics deriving from the growing…

On the hard problem of selecting bundles of rules: a conceptual exploration of heuristic emergence processes

Fabrice L. Cavarretta

So far, the simplicity of heuristics has been mostly studied at the rule level. However, actors' bounded rationality implies that small bundles of rules drive behavior. This study…

The lifecycle of heuristics as managerial proverbs

Radu Atanasiu

This paper proposes a theory-based process model for the generation, articulation, sharing and application of managerial heuristics, from their origin as unspoken insight, to…

Do personal values explain variation in satisficing measures of risk?

Kavitha Ranganathan

The role of personal value systems as antecedents to risk has been largely ignored. Following Gigerenzer's view of ecological rationality, the authors argue an individual's…

The representativeness heuristic at work in decision-making: building blocks and individual-level cognitive and behavioral factors

Ilaria Galavotti, Andrea Lippi, Daniele Cerrato

This paper aims to develop a conceptual framework on how the representativeness heuristic operates in the decision-making process. Specifically, the authors unbundle…

Identity reflexivity: a framework of heuristics for strategy change in hybrid organizations

Angela Greco, Thomas Long, Gjalt de Jong

The aim of this research is to investigate the relationship between (dual) organizational identity and individual heuristics – simple rules and biases – in the process of strategy…

Inexperienced decision-makers' use of positive heuristics for marketing decisions

Antoine Gilbert-Saad, Rod B. McNaughton, Frank Siedlok

Research has reliably demonstrated that decision-makers, especially expert ones, use heuristics to make decisions under uncertainty. However, whether decision-makers with little…

Heuristics in financial decision-making: the selection of SME financing by advisers in an increasingly diverse market

Kirsten Rauwerda, Frank Jan De Graaf

In order to better understand how heuristics are used in practice, the authors explore what type of heuristics is used in the managerial domain of financial advisors to small and…

An exploratory study of heuristics for anticipating prices

Timo Ehrig, Konstantinos V. Katsikopoulos, Jürgen Jost, Gerd Gigerenzer

This research explores how investment and central bankers cope with strategic uncertainty when they anticipate prices. The uncertainty originates from others' decisions and their…