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Decision makers strive to be rational. Traditionally, rational decisions maximize an appropriate return. The contributors to this book challenge the common assumption that good decisions must be rational in this economic sense. They emphasize that the decision-making process is influenced by social, organizational, and psychological considerations as well as by economic concerns. Relationships, time pressure, external demands for specific types of performance, contractual expectations, human biases, and reactions to unfair treatment alter the decision-making context and the resulting decision outcomes.
Decision makers strive to be rational. Traditionally, rational decisions maximize an appropriate return. The contributors to this book challenge the common assu
Are humans rational? Various experiments performed over the last several decades have been interpreted as showing that humans are irrational—we make significa
There are many different forms of rationality. In current economic discourse the main focus is on instrumental rationality and optimizing, while organization sc
Prevailing economic theory presumes that agents act rationally when they make decisions, striving to maximize the efficient use of their resources. Psychology h
Matthias Vogel challenges the belief, dominant in contemporary philosophy, that reason is determined solely by our discursive, linguistic abilities as communica
