As reflected in the amount of controversy, few areas in psychology have undergone such dramatic conceptual changes in the past decade as the emerging science of heuristics. Heuristics are efficient cognitive processes, conscious or unconscious, that ignore part of the information. Because using...

Defensive decision making occurs when a manager ranks an option as the best for the organization yet deliberately chooses a second-best option that protects him or herself against negative consequences. We study 950 managers in a public administration to analyze the frequency and causes of...

"Honoring the life and work of Herbert Simon, this illuminating Companion provides an in-depth survey of one of the most prolific social scientists of our age. Mirroring the breadth of Simon's studies, chapters analyze his contributions to artificial intelligence, economics, entrepreneurship,...

Nearly a century ago, Frank Knight famously distinguished between risk and uncertainty with respect to the nature of decisions made in a business enterprise. He associated generating economic profit with making entrepreneurial decisions in the face of fundamental uncertainties. This uncertainty...