Download Judgment in Managerial Decision Making, by Max H. Bazerman, Don A. Moore
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Judgment in Managerial Decision Making, by Max H. Bazerman, Don A. Moore
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In situations requiring careful judgment, every individual is influenced by their own biases to some extent. With Bazerman's new seventh edition, readers can quickly learn how to overcome those biases to make better managerial decisions. The book examines judgment in a variety of organizational contexts, and provides practical strategies for changing and improving decision-making processes so that they become part of one's permanent behavior.
- Sales Rank: #24173 in Books
- Brand: Brand: Wiley
- Published on: 2012-10-16
- Original language: English
- Number of items: 1
- Dimensions: 9.10" h x .60" w x 6.20" l, .96 pounds
- Binding: Hardcover
- 288 pages
- Used Book in Good Condition
Most helpful customer reviews
4 of 4 people found the following review helpful.
Required for class, but excellent read
By Mary Beth
I was afraid this was going to be another dry text book, but it is very engaging and well written. Full of examples that bring life to the topic and help the reader to retain the main ideas. Mostly about biases and decision traps and ways to avoid falling prey to them. Glad I read it and recommend it to everyone regardless of career.
8 of 11 people found the following review helpful.
Author does not acknowledge the past 20 years of research in judgement and decision making psychology.
By Corey P. Neskey
Proposes ordinal scoring/weighting methods which have been proven to not only inaccurate but deceptive. (Hubbard, D., & Evans, D. (2010).
Proposes the elicitation of estimates from experts in the form of scores. Research has shown that experts who expressed 80% confidence that their estimates were true captured the truth only 49-65% of the time (Kahneman, Slovic, and Tversky, 1982; McBride, Fidler, & Burgman, 2012; McBride 2012,Onkal et al., 2003; Soll & Klayman, 2004; Speirs-Bridge et al., 2010).
Most of the text relies on the assumption that Kahneman and Tversky's conclusion that humans are poor estimators. In the academic community this assumption was proven false many years prior. Lopes pointed out that data was available which showed that people correctly estimated value and risk in gambling situations (Anderson & Shanteau 1970; Shanteau 1974; Tversky, 1967) and also in assessing the likelihood of fairly complex joint events occurring (Beach & Peterson 1966, Lopes 1976; Shuford 1959). In that research subjects produced the same probabilities produced by normative calculation using expected utility and compound probability multiplication. Neither of these mathematical methods was common knowledge among the subjects, but they produced equally correct answers. Research by Gigerenzer et al. found humans are more Bayesian thinkers and intuitive statisticians than the works of Kahneman et al. expressed, so long as information is communicated to experts in a frequency format (1995).
If this makes up the foundation of an MBA education, the result would presumably be confident managers who make poor decisions and worse, who do so without being aware of it.
2 of 2 people found the following review helpful.
Good for leaders
By Diane L Fanger
The books objective is to prove how awful we are at making decisions. We are all victims of decision bias. The book does not really tell us how to make decisions but it serves to increase our awareness of how flawed are our decisions
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