Overview of the decision-making procedure

Rudolf Grünig () and Richard Kühn ()
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Rudolf Grünig: Université de Fribourg LS für Unternehmensführung
Richard Kühn: Universitét Bern Fak. Rechts-/Wirtschaftswissenschaften Inst. Marketing/Unternehmungsführung

Chapter 5 in Successful Decision-making, 2009, pp 59-72 from Springer

Abstract: Before we come to an overview, we first examine the advantages and limitations of a general heuristic decision-making procedure. It is important that, from the very beginning, readers and potential users of the procedure should approach it with realistic expectations. There are two ways in which we can judge the value of a general heuristic decision-making procedure: It may be assessed in relation to decisions made intuitively, without using a formal procedure. It may be assessed in relation to decisions reached by using a specific heuristic procedure. In what follows we will consider each of these comparisons.

Keywords: Decision Problem; Problem Analysis; Factual Knowledge; Decision Risk; General Heuristic (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-00854-2_6

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DOI: 10.1007/978-3-642-00854-2_6

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