Research shows that individuals are ambiguity averse: they choose unambiguous over equivalent ambiguous prospects and price them higher (either as buyers or sellers). Moreover, it is often assumed that ambiguity averse individuals are willing to pay an ambiguity premium for information that...

Several factors affect attitudes toward ambiguity. What happens, however, when people are asked to exchange an ambiguous alternative in their possession for an unambiguous one? We present three experiments in which individuals preferred to retain the former. This status quo bias emerged both...

Strategy workshops, the practice of taking time out from day-to-day routines to deliberate on the longer-term direction of the organisation, are a common practice, yet surprisingly little is known about them. This article presents the first substantial exploration of the role of workshops in...

Strategy workshops, the practice of taking time out from day-to-day routines to deliberate on the longer-term direction of the organisation, are a common practice, yet surprisingly little is known about them. This article presents the first substantial exploration of the role of workshops in...

Twenty years ago strategy was synonymous with formalised strategic planning. Nowadays, although strategic planning systems still exist in organisations, they are not seen as the main or only vehicle through which strategies actually develop. It is recognised that other managerial processes play...