This study investigates the effect on nonprofessional investors' judgements and decisions of discretionary measurement choices. Using a paper-and-pencil experience, we collect and analyze information regarding investment amounts as well as past and future financial performance judgements of...

Making decisions is a key task for leaders and managers. Senior leaders are currently exposed to increasing amounts of data which they must process quickly in our current dynamic world. Complex factors in the business world are not always best approached through an analytical framework. Using...

Creativity is highly valued in all areas of life, and it must be supported in the academic environment for the future prosperity of all organizations. This is the primary source of creativity for practice. The research presented is based on answering the following questions: Are an...

Influential economic approaches as random utility models assume a monotonic relation between choice frequencies and "strength of preference," in line with widespread evidence from the cognitive sciences, which also document an inverse relation to response times. However, for economic decisions...

We examine 70,581 felony court cases filed in Chicago, IL during the period 1990-2007. We exploit case randomization to assess the impact of judge assignment and sentencing decisions on the arrival rates of new charges. Relative to prior research, we document an important source of heterogeneity...

This paper presents an empirical investigation of the relation between decision speed and decision quality for a real-world setting of cognitively-demanding decisions in which the timing of decisions is endogenous: professional chess. Move-by-move data provide exceptionally detailed and precise...

This paper presents an empirical investigation of the relation between decision speed and decision quality for a real-world setting of cognitively-demanding decisions in which the timing of decisions is endogenous: professional chess. Move-by-move data provide exceptionally detailed and precise...

One of the main challenges posed by the healthcare crisis generated by COVID-19 is to avoid hospital collapse. The occupation of hospital beds by patients diagnosed by COVID-19 implies the diversion or suspension of their use for other specialities. Therefore, it is useful to have information...

Background: Faecal microbiota transplantation (FMT) is increasingly being used in the treatment of recurrent Clostridioides difficile infection (rCDI). Health economic evaluations may support decision-making regarding the implementation of FMT in clinical practice. Previous reviews have...

From a simple idea to unite asset owners in their quest for responsible investment (RI) at its launch in April 2006, the United Nations supported Principles for Responsible Investment (PRI) have grown in just one decade into an initiative with more than 1500 fee-paying signatories. Jointly, the...

The existence of small independent retailers is seriously jeopardised by severe competitive pressure, mainly caused by the sharp rise in online trading, rapidly changing consumer behaviours and the effectiveness of large commercial companies. It is claimed that small retailers should respond to...

In economic theory, an agent chooses from available alternatives-modeled as a set. In decisions in the field or in the lab, however, agents do not have access to the set of alternatives at once. Instead, alternatives are represented by the outside world in a structured way. Online search results...

A decision maker tests whether the gradient of the loss function evaluated at a judgmental decision is zero. If the test does not reject, the action is the judgmental decision. If the test rejects, the action sets the gradient equal to the boundary of the rejection region. This statistical...

This paper reports on a preregistered study aimed at testing for executive function differences across individuals who self-reported one of four distinct dietary patterns: No Diet, No Sugar, Vegetarian, and Mediterranean Diet patterns. The incentivized decision task involves Bayesian assessments...

Expected utility theory (EUT) is currently the standard framework which formally defines rational decision-making under risky conditions. EUT uses a theoretical device called von Neumann-Morgenstern utility function, where concepts of function and random variable are employed in their...

The design and development processes are full of decisions. Ranging from simple and straightforward to complex and elaborated. These decisions are taken by individuals that constantly rely on their intuition and heuristics to support their decision-making processes. Although heuristics tend to...

Choosing solutions under risk and uncertainty requires the consideration of several factors. One of the main factors in choosing a solution is modeling the decision maker's attitude to risk. The expected utility theory was the first approach that allowed to correctly model various nuances of the...