Decision dilemmas facing managers: recognizing the value of learning while making sequential decisions
AbstractThe paper brings attention to an often neglected factor that can have a significant impact on whether a multi-stage project is worth continuing--the potential for learning in its development process. After explicating the economics of a project's learning potential, the paper explores its implications for the practice of project management and for the design of future experimental studies on managerial behavior in funding multi-stage projects.
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Bibliographic InfoArticle provided by Elsevier in its journal Omega.
Volume (Year): 23 (1995)
Issue (Month): 3 (June)
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Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/375/description#description
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