Decision dilemmas facing managers: recognizing the value of learning while making sequential decisions

T. Chi and P. C. Nystrom

Omega, 1995, vol. 23, issue 3, 303-312

Abstract: The paper brings attention to an often neglected factor that can have a significant impact on whether a multi-stage project is worth continuing--the potential for learning in its development process. After explicating the economics of a project's learning potential, the paper explores its implications for the practice of project management and for the design of future experimental studies on managerial behavior in funding multi-stage projects.

Keywords: project; management; decision; making; learning; rationality (search for similar items in EconPapers)
Date: 1995
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Citations: View citations in EconPapers (4)

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