Eliminating A Framing Bias by Using Simple Instructions to 'Think Harder' and Respondents With Managerial Experience : Comment on 'Breaking The Frame'  

Oleh:

Wright, George ; Goodwin, Paul

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 23 no. 11 (2002), page 1059-1068.
Topik: Managerial; framing; cognition; heuristics and biases; risk taking; risk aversion

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.10 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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This paper shows that in terms of experimental design and ecological validity, the recent study by hodgkinson et al. (1999) does not "indicate that the framing bias is likely to be an important factor in strategic decision making". Not does it suggest that "congnitive mapping provides an effective means of limiting the damage accruing form this bias" We show that the framing bias demonstrated by hodgkinson et al. can be removed by a simpler "think - harder" manipulation with undergraduate respondents and further show that the bias is not present in the decisions of experienced respondents. We also demonstrate that, for experienced respondents, factors such as avoidance of risk and the creation of new strategies also characterize strategic decision making. Such components were not captured by hodgkinson et al's experimental tasks.

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