This paper introduces a unified model for organizational change that is designed to help change analysts think through the decision-making process. Most organizational leaders do not manage change effectively because they fail to acquire the minimum amount of information necessary to make a...

Experimentally observed deviations of behavior from game theoretic predictions suggest that fairness does influence decision making. Fairness in the sense of equality has become an essential element of economic models aiming at explaining actual behavior (cf. Fehr and Schmidt, 1999; Bolton and...

Positive and negative feelings were central to the development of economics, especially in utility theory in classical economics. While neoclassical utility theory ignored feelings, behavioral economics more recently reintroduced feelings in utility theory. Beyond feelings, economic theorists...

Time preferences drive decisions in many economic situations, such as investment contexts or salary negotiations. These situations are characterized by a very short time frame for decision making. Preferences are potentially susceptible to the confounding effects of time pressure, as proposed by...

This paper provides an overview of the work of Herbert Simon and his ideas about rational decision making. By his own standards, Simon is an economist who works in the tradition of Adam Smith and Alfred Marshall. The central theme in Simon’s research is how human beings organize themselves in...

Research on cognitive style has gathered momentum over the past 40 years, especially with respect to learning, problem-solving, and decision-making. This investigation adapts Tetlock's hedgehog-fox scale for German-speaking respondents through three large-scale studies (n = 17,072) and examines...