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Organizational Decision Making Behavior Under Varying Conditions of Uncertainty

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  • David W. Conrath

    (Department of Industry, Wharton School of Finance and Commerce, University of Pennsylvania)

Abstract

The problem of decision making under uncertainty generally has been treated in a rather constrained fashion. Most writers assume that the decision is to be made by an entity (the problem of utility function amalgamation is ignored), that the process whereby it is reached is of no consequence, and that an adequate definition of uncertainty is that traditionally provided in game theory. We contend, on the other hand, that these assumptions are un-realistically restrictive, and that it would do well to look at the problem in its broader aspects. A general framework is provided for this purpose, and it is used in a relatively simple example to demonstrate a possible application.

Suggested Citation

  • David W. Conrath, 1967. "Organizational Decision Making Behavior Under Varying Conditions of Uncertainty," Management Science, INFORMS, vol. 13(8), pages 487-500, April.
    • Handle: RePEc:inm:ormnsc:v:13:y:1967:i:8:p:b487-b500
    DOI: 10.1287/mnsc.13.8.B487
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    Cited by:

    1. Alberto Asquer & Inna Krachkovskaya, 2021. "Uncertainty, institutions and regulatory responses to emerging technologies: CRISPR Gene editing in the US and the EU (2012–2019)," Regulation & Governance, John Wiley & Sons, vol. 15(4), pages 1111-1127, October.
    2. Giovanna Magnani & Antonella Zucchella, 2018. "Uncertainty in Entrepreneurship and Management Studies: A Systematic Literature Review," International Journal of Business and Management, Canadian Center of Science and Education, vol. 13(3), pages 1-98, February.
    3. Williams, John & McSweeney, Peter & Salmon, Robert, 2014. "Australian Farm Investment: Domestic and Overseas Issues," Papers 234408, University of Melbourne, Melbourne School of Land and Environment.
    4. Lipshitz, Raanan & Strauss, Orna, 1997. "Coping with Uncertainty: A Naturalistic Decision-Making Analysis," Organizational Behavior and Human Decision Processes, Elsevier, vol. 69(2), pages 149-163, February.

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