Wharton on Making Decisions

by Hoch, Stephen J.; Kunreuther, Howard C.; Gunther, Robert E.

• ISBN13: 9780471382478
• ISBN10: 0471382477
• Edition: 1st
• Format: Hardcover
• Copyright: 2001-03-28
• Publisher: Wiley

Summary

Perspectives from leaders in decision science at Wharton Organized in part through Wharton's Risk Management and Decision Processes Center, the book assembles leading researchers from Wharton's business faculty who demonstrate how to apply the latest approaches in decision-making from four perspectives: personal, managerial, negotiator, and consumer. Each chapter describes how decisions are actually made, presents the ideal scenario, and then provides practical suggestions for improvement. The subjects range from when consumers will choose variety, integrating intuition into decisions, and applying game theory and strategic decisions, to decision factors in negotiations and how choices are made about insurance and health care.

Author Biography

STEPHEN J. HOCH is the John J. Pomerantz Professor of Marketing at the Wharton School, University of Pennsylvania. He previously taught at the University of Chicago.<BR>

Table of Contents

A Complex Web of Decisions	1	(15)
Stephen J. Hoch
Howard C. Kunreuther
Part I Personal Decision Making	15	(64)
The Emotional Nature of Decision Trade-Offs	17	(20)
Mary Frances Luce
John W. Payne
James R. Bettman
Bumbling Geniuses: The Power of Everyday Reasoning in Multistage Decision Making	37	(26)
Robert J. Meyer
J. Wesley Hutchinson
Choosing Variety	63	(16)
Barbara E. Kahn
Andrea Morales
Part II Managerial Decision Making	79	(78)
Combining Models with Intuition to Improve Decisions	81	(22)
Stephen J. Hoch
Reflective versus Expedient Decision Making: Views from East and West	103	(12)
Karen A. Jehn
Keith Weigelt
Decision Making in Complex Environments: New Tools for a New Age	115	(16)
Paul R. Kleindorfer
Managing Frames to Make Better Decisions	131	(26)
Paul J. H. Schoemaker
J. Edward Russo
Part III Multiparty Decision Making	157	(66)
Strategic Learning and Teaching	159	(18)
Colin F. Camerer
Teck H. Ho
Reputations in Negotiation	177	(10)
Steven Glick
Rachel Croson
Deception in Negotiations	187	(14)
Maurice E. Schweitzer
Electronic Bargaining: The Perils of E-Mail and the Promise of Computer-Assisted Negotiations	201	(22)
G. Richard Shell
Part IV Impact of Decision Making on Society	223	(80)
A Change of Heart: Unexpected Responses to Medical Testing	225	(18)
John Hershey
David A. Asch
Values and Decisions	243	(16)
Julie Irwin
Jonathan Baron
Protective Decisions: Fear or Prudence	259	(14)
Howard C. Kunreuther
Learners or Lemmings: The Nature of Information Cascades	273	(14)
Felix Oberholzer-Gee
Split Presonality: Inconsistencies in Private and Public Decisions	287	(16)
Mark V. Pauly
Notes	303	(28)
Index	331