IDEAS home Printed from https://ideas.repec.org/p/unm/umamet/2003026.html
   My bibliography  Save this paper

Antecedents of effective decision making: a cognitive approach

Author

Listed:
  • van Riel, A.C.R.

    (Marketing & Supply Chain Management)

  • Ouwersloot, J.

    (Marketing & Supply Chain Management)

  • Lemmink, J.G.A.M.

    (Marketing & Supply Chain Management)

Abstract

The effectiviness of decision-making has been associated with how well managers adapt their cognitive style to task requirements. In this paper, theories regarding decision-making under uncertainty, and the use of judgment and intuition are reviewed and integrated. The Cognitive Continuum Theory (CCT), positing a one-dimensional continuum of cognitive styles anchored by intuition and analysis, is extended: Four fundamental decision styles are identified and evaluated for their relative effectiveness under various task conditions. Propositions are developed with respect to the relationships between decision task characteristics and the likelihood of using two cognitive systems, with respect to potential moderators of decision-making effectiveness. The propositions are integrated into a comprehensive theoretical model. The major contributions of the study are a conceptual clarification of the distinctions between intuition, heuristics and bounded rationality, and the assessment of the scope of various cognitive styles as well as the identification of moderators of their effectiveness. Research implications and some suggestions for managerial practice are also provided.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • van Riel, A.C.R. & Ouwersloot, J. & Lemmink, J.G.A.M., 2003. "Antecedents of effective decision making: a cognitive approach," Research Memorandum 026, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    • Handle: RePEc:unm:umamet:2003026
    DOI: 10.26481/umamet.2003026
    as

    Download full text from publisher

    File URL: https://cris.maastrichtuniversity.nl/ws/files/1663497/guid-0037e398-d815-4343-96ca-5ccc0af433fd-ASSET1.0.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.26481/umamet.2003026?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Jackson, Matthew O. & Wolinsky, Asher, 1996. "A Strategic Model of Social and Economic Networks," Journal of Economic Theory, Elsevier, vol. 71(1), pages 44-74, October.
    2. Venkatesh Bala & Sanjeev Goyal, 2000. "original papers : A strategic analysis of network reliability," Review of Economic Design, Springer;Society for Economic Design, vol. 5(3), pages 205-228.
    3. R. M. Thrall & W. F. Lucas, 1963. "N‐person games in partition function form," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 10(1), pages 281-298, March.
    4. Bolger, E M, 1986. "Power Indices for Multicandidate Voting Games," International Journal of Game Theory, Springer;Game Theory Society, vol. 15(3), pages 175-186.
    5. Jackson, Matthew O. & Watts, Alison, 2002. "The Evolution of Social and Economic Networks," Journal of Economic Theory, Elsevier, vol. 106(2), pages 265-295, October.
    6. Calvo, Emilio & Lasaga, Javier & van den Nouweland, Anne, 1999. "Values of games with probabilistic graphs," Mathematical Social Sciences, Elsevier, vol. 37(1), pages 79-95, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Rupali Misra & Sumita Srivastava & D. K. Banwet, 2019. "Are type B investors efficacious? Exploring role of personality in ambidextrous investment decision-making," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 46(1), pages 27-34, March.
    2. Navarro, Noemi, 2007. "Fair allocation in networks with externalities," Games and Economic Behavior, Elsevier, vol. 58(2), pages 354-364, February.
    3. Matthew O. Jackson, 2003. "A Survey of Models of Network Formation: Stability and Efficiency," Game Theory and Information 0303011, University Library of Munich, Germany.
    4. Ozlem Ozkok & Simon J. Bell & Jagdip Singh & Kwanghui Lim, 2019. "Frontline knowledge networks in open collaboration models for service innovations," AMS Review, Springer;Academy of Marketing Science, vol. 9(3), pages 268-288, December.
    5. Misra, Rupali & Srivastava, Sumita & Banwet, D.K., 2019. "Do religious and conscious investors make better economic decisions? Evidence from India," Journal of Behavioral and Experimental Finance, Elsevier, vol. 22(C), pages 64-74.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alessio D'Ignazio & Emanuele Giovannetti, 2006. "From Exogenous To Endogenous Economic Networks: Internet Applications," Journal of Economic Surveys, Wiley Blackwell, vol. 20(5), pages 757-796, December.
    2. Joost Vandenbossche & Thomas Demuynck, 2013. "Network Formation with Heterogeneous Agents and Absolute Friction," Computational Economics, Springer;Society for Computational Economics, vol. 42(1), pages 23-45, June.
    3. Jun, Tackseung & Kim, Jeong-Yoo, 2007. "Connectivity, stability and efficiency in a network as an information flow," Mathematical Social Sciences, Elsevier, vol. 53(3), pages 314-331, May.
    4. Olaizola, Norma & Valenciano, Federico, 2014. "Asymmetric flow networks," European Journal of Operational Research, Elsevier, vol. 237(2), pages 566-579.
      • Olaizola Ortega, María Norma & Valenciano Llovera, Federico, 2012. "Asymmetric flow networks," IKERLANAK http://www-fae1-eao1-ehu-, Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I.
    5. Haller, Hans & Sarangi, Sudipta, 2005. "Nash networks with heterogeneous links," Mathematical Social Sciences, Elsevier, vol. 50(2), pages 181-201, September.
    6. Olaizola Ortega, María Norma & Valenciano Llovera, Federico, 2011. "Network formation under institutional constraints," IKERLANAK info:eu-repo/grantAgreeme, Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I.
    7. D'Ignazio, A. & Giovannetti, E., 2004. "From Exogenous to Endogenous Networks: Internet Applications," Cambridge Working Papers in Economics 0445, Faculty of Economics, University of Cambridge.
    8. Sébastien Vivier-Lirimont, 2004. "Interbanking networks: towards a small financial world?," Cahiers de la Maison des Sciences Economiques v04046, Université Panthéon-Sorbonne (Paris 1).
    9. Galeotti, Andrea & Goyal, Sanjeev & Kamphorst, Jurjen, 2006. "Network formation with heterogeneous players," Games and Economic Behavior, Elsevier, vol. 54(2), pages 353-372, February.
    10. Sudipta Sarangi & H. Haller, 2003. "Nash Networks with Heterogeneous Agents," Departmental Working Papers 2003-06, Department of Economics, Louisiana State University.
    11. László Á. Kóczy, 2018. "Partition Function Form Games," Theory and Decision Library C, Springer, number 978-3-319-69841-0, March.
    12. Jean-François Caulier & Michel Grabisch & Agnieszka Rusinowska, 2015. "An allocation rule for dynamic random network formation processes," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 60(2), pages 283-313, October.
    13. Frank H. Page & Myrna H. Wooders, 2009. "Endogenous Network Dynamics," Working Papers 2009.28, Fondazione Eni Enrico Mattei.
    14. Dev, Pritha, 2014. "Identity and fragmentation in networks," Mathematical Social Sciences, Elsevier, vol. 71(C), pages 86-100.
    15. Rajgopal Kannan & Lydia Ray & Sudipta Sarangi, 2007. "The structure of information networks," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 30(1), pages 119-134, January.
    16. Ana Mauleon & Huasheng Song & Vincent Vannetelbosch, 2010. "Networks of Free Trade Agreements among Heterogeneous Countries," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 12(3), pages 471-500, June.
    17. Bloch, Francis & Jackson, Matthew O., 2007. "The formation of networks with transfers among players," Journal of Economic Theory, Elsevier, vol. 133(1), pages 83-110, March.
    18. Herings, P. Jean-Jacques & Mauleon, Ana & Vannetelbosch, Vincent, 2020. "Matching with myopic and farsighted players," Journal of Economic Theory, Elsevier, vol. 190(C).
    19. Sylvain Béal & Eric Rémila & Philippe Solal, 2015. "Discounted Tree Solutions," Working Papers hal-01377923, HAL.
    20. Arcaute, E. & Dyagilev, K. & Johari, R. & Mannor, S., 2013. "Dynamics in tree formation games," Games and Economic Behavior, Elsevier, vol. 79(C), pages 1-29.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:unm:umamet:2003026. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Andrea Willems or Leonne Portz (email available below). General contact details of provider: https://edirc.repec.org/data/meteonl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.