Decision making styles and the use of heuristics in decision making

Autor(en)
Cristina del Campo, Sandra Pauser, Elisabeth Steiner, Rudolf Vetschera
Abstrakt

Simple heuristics can be efficient ways of decision making and literature has shown that they are widely used in actual decision situations. Although many types of heuristics have been found and analyzed, there is only scarce research on factors that lead to the use of a particular heuristic. In the present paper, we describe an experiment to analyze whether the usage of a particular heuristic like recognition or take-the-best depends on individual decision making styles as identified by Scott and Bruce (Educ Psychol Meas 55(5):818–831, 1995). The experiment is based on a choice problem, in which different heuristics are likely to lead to different choices. Analyzing experimental data from two replications of the experiment in two different countries, we find some evidence that decision making styles influence the use of heuristics. However, considerable differences between the two experiments indicate that other, perhaps cultural, factors might also be important.

Organisation(en)
Institut für Rechnungswesen, Innovation und Strategie
Externe Organisation(en)
Universidad Complutense De Madrid
Journal
Journal of Business Economics
Band
86
Seiten
389-412
Anzahl der Seiten
24
ISSN
0044-2372
DOI
https://doi.org/10.1007/s11573-016-0811-y
Publikationsdatum
2016
Peer-reviewed
Ja
ÖFOS 2012
502052 Betriebswirtschaftslehre
Schlagwörter
ASJC Scopus Sachgebiete
Economics and Econometrics, Business and International Management
Link zum Portal
https://ucris.univie.ac.at/portal/de/publications/decision-making-styles-and-the-use-of-heuristics-in-decision-making(fe66e99b-c1d8-4e62-ac8d-4b2c5b1a5c8f).html