Authors
Lorraine Chen Idson, Dolly Chugh, Yoella Bereby‐Meyer, Simone Moran, Brit Grosskopf, Max Bazerman
Publication date
2004/7
Journal
Journal of Behavioral Decision Making
Volume
17
Issue
3
Pages
159-172
Publisher
John Wiley & Sons, Ltd.
Description
This paper attacks one of the chief limitations of the field of behavioral decision research—the past inability to use this literature to improve decision making. Building on the work of Thompson, Gentner, Loewenstein and colleagues (Loewenstein, Thompson, & Gentner, 1999; Thompson, Gentner, & Loewenstein, 2000; Gentner & Markman, 1997), the current paper finds that it is possible to reduce bias in one of the most robust problems in the decision literature, the Acquiring a Company Problem (Samuelson & Bazerman, 1985). Past research has shown that individuals make suboptimal offers as a result of the failure to think about the decisions of others and to incorporate a clear understanding of the rules of the game. In the current study, we find that by allowing study participants to see and understand differences in seemingly unrelated decision problems—versions of the Monty Hall Game (Nalebuff, 1987 …
Total citations
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Scholar articles
LC Idson, D Chugh, Y Bereby‐Meyer, S Moran… - Journal of Behavioral Decision Making, 2004