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This article investigates whether decision makers intuitively optimize close to the normative prediction in entrepreneurial decision situations where their time must be allocated between a wage job and a newly formed venture. We offer an analytical model based on maximizing expected utility, and...
Persistent link: https://www.econbiz.de/10010310190
This article investigates whether decision makers intuitively optimize close to the normative prediction in entrepreneurial decision situations where their time must be allocated between a wage job and a newly formed venture. We offer an analytical model based on maximizing expected utility, and...
Persistent link: https://www.econbiz.de/10010983482
The human mind is not a general problem solving machine. Instead of deliberately, consciously and serially processing the available information, men can rely on routines, rules, roles or affect for the purpose. They can bring in technology, experts or groups. For all of these reasons, men have a...
Persistent link: https://www.econbiz.de/10005772782
This paper argues that the informational requirements for good decision making in small and medium sized enterprises (SMEs) are complex and adaptive. It identifies the basic information needs of the SME, and considers how information is used to guide decisions. It argues that accounting...
Persistent link: https://www.econbiz.de/10005673148