Wharton on Making Decisions

Perspectives from leaders in decision science at Wharton Organized in part through Wharton's Risk Management and Decision Processes Center, the book assembles leading researchers from Wharton's business faculty who demonstrate how to apply the latest approaches in decision-making from four perspectives: personal, managerial, negotiator, and consumer. Each chapter describes how decisions are actually made, presents the ideal scenario, and then provides practical suggestions for improvement. The subjects range from when consumers will choose variety, integrating intuition into decisions, and applying game theory and strategic decisions, to decision factors in negotiations and how choices are made about insurance and health care.

Perspectives from leaders in decision science at WhartonOrganized in part through Wharton's Risk Management and Decision Processes Center, the book assembles leading researchers from Wharton's business faculty who demonstrate how to apply the latest approaches in decision-making from four perspectives: personal, managerial, negotiator, and consumer. Each chapter describes how decisions are actually made, presents the ideal scenario, and then provides practical suggestions for improvement. The subjects range from when consumers will choose variety, integrating intuition into decisions, and applying game theory and strategic decisions, to decision factors in negotiations and how choices are made about insurance and health care.

Chapter 1. A Complex Web of Decisions (Stephen J. Hoch and HowardC. Kunreuther).PART I. PERSONAL DECISION MAKING.Chapter 2. The Emotional Nature of Decision Trade-Offs (MaryFrances Luce, John W. Payne and James R. Bettman).Chapter 3. Bumbling Geniuses: The Power of Everyday Reasoning inMultistage Decision Making (Robert J. Meyer and J. WesleyHutchinson).Chapter 4. Choosing Variety (Barbara E. Kahn and AndreaMorales).PART II. MANAGERIAL DECISION MAKING.Chapter 5. Combining Models with Intuition to Improve Decisions(Stephen J. Hoch).Chapter 6. Reflective versus Expedient Decision Making: Viewsfrom East and West (Karen A. Jehn and Keith Weigelt).Chapter 7. Decision Making in Complex Environments: New Toolsfor a New Age (Paul R. Kleindorfer).Chapter 8. Managing Frames to Make Better Decisions (Paul J.H.Schoemaker and J. Edward Russo).PART III. MULTIPARTY DECISION MAKING.Chapter 9. Strategic Learning and Teaching (Colin F. Camerer andTeck H. Ho).Chapter 10. Reputations in Negotiation (Steven Glick and RachelCroson).Chapter 11. Deception in Negotiations (Maurice E.Schweitzer).Chapter 12. Electronic Bargaining: The Perils of E-Mail and thePromise of Computer-Assisted Negotiations (G. Richard Shell).PART IV. IMPACT OF DECISION MAKING ON SOCIETY.Chapter 13. A Change of Heart: Unexpected Responses to MedicalTesting (John Hershey and David A. Asch).Chapter 14. Values and Decisions (J Irwin and JonathanBaron).Chapter 15. Protective Decisions: Fear or Prudence (Howard C.Kunreuther).Chapter 16. Learners or Lemmings: The Nature of InformationCascades (Felix Oberholzer-Gee).Chapter 17. Split Personality: Inconsistencies in Private andPublic Decisions (Mark V. Pauly).Notes.Index.