Base-rate neglect is a robust experimental finding that individuals do not update their prior beliefs according to the Bayes' rule and, typically, underestimate their posterior probabilities. Another empirical finding is that individuals often do not acquire information even when there are no...

Since the conceptualization of bounded rationality, management scholars started investigating how people - managers and entrepreneurs - really make decisions within (and for) organizations. The aim of this eBook is to deeply investigate trends that have flourished within this pivotal research...

Since the conceptualization of bounded rationality, management scholars started investigating how people-managers and entrepreneurs-really make decisions within (and for) organizations. The aim of this eBook is to deeply investigate trends that have flourished within this pivotal research area...

One of the core challenges of decision research is to identify individuals' decision strategies without influencing decision behavior by the method used. Br\"oder and Schiffer (2003) suggested a method to classify decision strategies based on a maximum likelihood estimation, comparing the...