The Heuristics and Biases of Top Managers: Past, Present, and Future

UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
Dr.. Riikka M. Sarala, Professor of International Business (Creator)
The University of North Carolina at Greensboro (UNCG )
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Abstract: Psychology-grounded research on heuristics and biases in decision making has becomeincreasingly influential in the field of management studies. However, although this line of inquiryis recognized as a valuable perspective for advancing understanding of decision processes in theupper echelons of firms, extant research remains unbalanced, the bulk of previous endeavourshaving been focused on managerial overconfidence, with insights from more recent dual-processtheory and ecological rationality conceptions of heuristics less explored. This introductory articleto the special issue of the Journal of Management Studies, entitled ‘the heuristics and biases of topmanagers: Past, present, and future’, offers a reflective review of prior work addressing its focaltheme and places the articles incorporated into the special issue within this broader context. Inaddition, it sets out a number of directions for future work, with a view to inspiring the continuingadvancement of conceptual and empirical knowledge and management practice.

Additional Information

Journal of Management Studies, 60(5)
Language: English
Date: 2023
decision making, heuristics and biases, managerial and organizational cognition , rationality, risk and uncertainty, upper echelons

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