Managerial reasoning about aspirations and expectations
Managerial reasoning about performance targets and subsequent actions can be influenced by whether they focus their attention on expectations of future events or internal efforts to meet organizational goals. This study explores how managers think about expectations and aspirations by examining the semantic similarities and differences between these concepts for practicing managers and economists, the results suggesting subtle differences in how economists and managers reason about aspirations and expectations. For economists, the concept of expectations played a major role and influenced their subsequent thinking about goals and actions while managers conceptually separated factors that were controllable and uncontrollable, the concept of expectation not playing the central role for them. Implications for descriptive and prescriptive models of decision-making are discussed.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sarasvathy, D. K. & Simon, Herbert A. & Lave, Lester, 1998. "Perceiving and managing business risks: differences between entrepreneurs and bankers," Journal of Economic Behavior & Organization, Elsevier, vol. 33(2), pages 207-225, January.
- James Corter & Amos Tversky, 1986. "Extended similarity trees," Psychometrika, Springer;The Psychometric Society, vol. 51(3), pages 429-451, September.
- Theresa K. Lant, 1992. "Aspiration Level Adaptation: An Empirical Exploration," Management Science, INFORMS, vol. 38(5), pages 623-644, May.
- Levine, David I, 1993. "Do Corporate Executives Have Rational Expectations?," The Journal of Business, University of Chicago Press, vol. 66(2), pages 271-293, April.
- Ito, Takatoshi, 1990.
"Foreign Exchange Rate Expectations: Micro Survey Data,"
American Economic Review,
American Economic Association, vol. 80(3), pages 434-449, June.
- Takatoshi Ito, 1988. "Foreign Exchange Rate Expectations: Micro Survey Data," NBER Working Papers 2679, National Bureau of Economic Research, Inc.
- Gramlich, Edward M, 1983. "Models of Inflation Expectations Formation: A Comparison of Household and Economist Forecasts," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 15(2), pages 155-173, May.
- Lucas, Robert E, Jr, 1986. "Adaptive Behavior and Economic Theory," The Journal of Business, University of Chicago Press, vol. 59(4), pages 401-426, October.
- Leonard, Jonathan S, 1982. "Wage Expectations in the Labor Market: Survey Evidence on Rationality," The Review of Economics and Statistics, MIT Press, vol. 64(1), pages 157-161, February.
- Jonathan S. Leonard, 1980. "Wage Expectations in the Labor Market: Survey Evidence on Rationality," NBER Working Papers 0440, National Bureau of Economic Research, Inc.
- James G. March & Zur Shapira, 1987. "Managerial Perspectives on Risk and Risk Taking," Management Science, INFORMS, vol. 33(11), pages 1404-1418, November.
- Jay B. Barney, 1986. "Strategic Factor Markets: Expectations, Luck, and Business Strategy," Management Science, INFORMS, vol. 32(10), pages 1231-1241, October.
- Shmuel Sattath & Amos Tversky, 1977. "Additive similarity trees," Psychometrika, Springer;The Psychometric Society, vol. 42(3), pages 319-345, September.
- Levinthal, Daniel & March, James G., 1981. "A model of adaptive organizational search," Journal of Economic Behavior & Organization, Elsevier, vol. 2(4), pages 307-333, December.
- Stephen J. Mezias & Ya-Ru Chen & Patrice R. Murphy, 2002. "Aspiration-Level Adaptation in an American Financial Services Organization: A Field Study," Management Science, INFORMS, vol. 48(10), pages 1285-1300, October. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:eee:jeborg:v:66:y:2008:i:1:p:60-73. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.