Journal ArticleDOI
Adjusting risky situations: A theoretical framework and empirical test
TLDR
The authors investigated several types of risk adjustments such as trying to influence the situation through bargaining and spending resources, gathering information, developing new options, and consulting one's superiors, and a theoretical framework is presented that characterizes different types of adjustments and relates them to variables such as perceived risk, perceived control, perceived responsibility, decisiveness and risky choice.Abstract:
Experienced executives frequently try to modify the risky situations they face in order to make them more favorable rather than simply choosing from among available decision options. This article investigates several types of risk adjustments such as trying to influence the situation through bargaining and spending resources, gathering information, developing new options, and consulting one's superiors. A theoretical framework is presented that characterizes different types of adjustments and relates them to variables such as perceived risk, perceived control, perceived responsibility, decisiveness, and risky choice. The framework is tested using experienced decision makers who respond to four simulated risky business decisions.read more
Citations
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Journal ArticleDOI
Determinants of Risky Decision-Making Behavior: A Test of the Mediating Role of Risk Perceptions and Propensity
Sim B. Sitkin,Laurie R. Weingart +1 more
TL;DR: This article examined the usefulness of placing risk propensity and risk perception in a more central role in models of risky decision making than has been done previously, and found that the importance of risk perception and propensity for risk in decision making has been overlooked.
Journal ArticleDOI
Acquisition Decision-Making Processes: The Central Role of Risk
TL;DR: In this article, the authors argue that behavioral concepts of risk, specifytally decision-maker risk perceptions and propensity, are key to understanding the process by which acquisition candidates are selected, the characteristics of pre-acquisition evaluation and negotiations, and approaches to post-incapacitated integration.
Journal ArticleDOI
Institutional Forces and Organizational Culture in China: Effects on Change Schemas, Firm Commitment and Job Satisfaction
TL;DR: In this article, the effects of institutional forces on change schemas of senior managers, mid-level managers and front-line workers of different types of firms in China are examined.
Journal ArticleDOI
Risk Allocation and Risk Handling of Highway Projects in Taiwan
Ming-Teh Wang,Hui-Yu Chou +1 more
TL;DR: Risk always exists in construction projects and often cause schedule delay or cost overrun as mentioned in this paper, and the first step of risk management is risk identificaiton is risk identification and identification.
Journal ArticleDOI
Choosing a project risk-handling strategy: An analytical model
Miao Fan,Neng-Pai Lin,Chwen Sheu +2 more
TL;DR: A conceptual framework was constructed that defines the relationship between risk-handling strategy and relevant project characteristics and a conceptual model was developed to describe the quantitative relationships among all variables.
References
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Book
Judgment Under Uncertainty: Heuristics and Biases
Amos Tversky,Daniel Kahneman +1 more
TL;DR: The authors described three heuristics that are employed in making judgements under uncertainty: representativeness, availability of instances or scenarios, and adjustment from an anchor, which is usually employed in numerical prediction when a relevant value is available.
Journal ArticleDOI
An Efficient Method of Estimating Seemingly Unrelated Regressions and Tests for Aggregation Bias
TL;DR: In this paper, a method of estimating the parameters of a set of regression equations is reported which involves application of Aitken's generalized least-squares to the whole system of equations.
Journal ArticleDOI
Judgment Under Uncertainty: Heuristics and Biases.
TL;DR: Three heuristics that are employed in making judgements under uncertainty are described: representativeness, availability of instances or scenarios, which is often employed when people are asked to assess the frequency of a class or the plausibility of a particular development.