Search results for: escalation-in-decision-making

Escalation in Decision Making

Author : Helga Drummond
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When a venture seems to be faltering, do you persist and hope that things will get better or do you cut your losses? This may be one of the most important decisions business or project owners may ever have to make. Persistence involves the risk of throwing good money (or resources) after bad, but owners may feel they have too much invested to quit now. Escalation in Decision-Making reveals why social scientists believe that owners may not respond rationally to such predicaments. Instead of exiting when the odds are clearly stacked against them, they re-invest and end up compounding their losses - a phenomenon known as escalation of commitment. The authors, Helga Drummond and Julia Hodgson, also introduce the concept of entrapment, a variation whereby decision-makers passively drift towards insolvency as the cost of changing direction becomes too high. So: · what drives escalation? · why do some owners quit whilst others persist until the bailiffs arrive? · what can we learn from owners' mistakes? · what makes newcomers believe they can succeed where others are conspicuously failing? These questions of behavioural economics are answered using a narrative that analyses decisions made by market traders facing economic extinction. Many highly successful entrepreneurs started their careers in markets - it was once an almost guaranteed route to prosperity - now market traders are struggling to survive. Although the market traders featured are small entrepreneurs, the ubiquitous phenomenon of escalation at the heart of these stories is widely relevant to practitioners such as project managers in large organizations and to those responsible for managing risk in many situations. Rich in case studies involving real business decisions and dilemmas, Escalation in Decision-Making provides an accessible introduction to the application of theory against a background of growing interest in behavioural economics, now being researched and taught in univ

Conflict Escalation and Decision Making

Author : Ludger Haller
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Escalation De escalation in Decision making

Author : H. Drummond
File Size : 83.34 MB
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Escalation in Decision making

Author : Helga Drummond
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Getting organizations going is one thing. Stopping them is another. This book examines how and why organizations become trapped in disastrous decisions. The focal point is Project Taurus, an IT venture commissioned by the London Stock Exchange and supported by numerous City Institutions.Taurus was intended to transform London's antiquated manual share settlement procedures into a state of the art electronic system that would be the envy of the world. The project collapsed after three year's intensive work and investments totalling almost L500 million. This book is an in depth study of escalation in decision making. The author has interviewed a number of people who played a key role and presents a most readable account of what actually happened. At the same time she sets the case in the broader literature of decision making.

Escalation in Decision Making

Author : Helga Drummond
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The 500 million Taurus project aimed to automate settlement systems on the London Stock Exchange. Begun in 1986, it was abandoned in 1993. This book asks how it was that a major project promoted by the Stock Exchange, supervised by committees, advised upon by two major consultancies, staffed by an experienced technical team, could go wrong?

Ethics Expectations and Escalation

Author : Sebastian Hafenbrädl
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Thèse. HEC. 2013

The Escalation of Commitment in Decision Making Groups

Author : Kristina M. Moster
File Size : 82.45 MB
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Staw s Escalation Paradigm

Author : Andrew M. Ross
File Size : 87.20 MB
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An Investigation Into Organizational Commitment in the Investment Decision making Process

Author : Zhang Qing
File Size : 84.60 MB
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Escalation in Groups

Author : David H. Landman
File Size : 75.14 MB
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Mitigating Escalation of Commitment

Author : Ann C. Dzuranin
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ABSTRACT: This research examines escalation of commitment in capital investment decisions and the extent to which it can be mitigated using a cognitive prime. Specifically, I examine the use of a cognitive prime as a way to mitigate escalation in three decision-making settings: (1) individual, (2) face-to-face team, and (3) computer-mediated team. Continued investment in failing projects is costly for firms. The use of a cognitive prime to reduce escalation would provide a low cost way to mitigate escalation. In this study, participants are primed to think about sunk costs. The expectation is that priming individuals to think about sunk costs will increase the accessibility of sunk cost knowledge and reduce the likelihood of continued investment in the failing project. Further, based on Persuasive Arguments Theory, it is expected that the prime will reduce escalation in teams communicating in a computer-mediated setting more than in any other decision setting. The results of the experiment support the prediction that priming will reduce escalation and did so in all decision making settings. Further, the results indicate that, in the computer-mediated setting, primed teams had the least amount of escalation behavior coupled with the largest difference in escalation compared to teams that were not primed.

Escalation Bias in Group Decision making

Author : Molly JoAnn Russ
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Decision Making and Conflict

Author : Dewey W. Todd
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Conflict is inevitable in dynamic group decision making, however, it is generally not managed strategically. Instead, individuals' natural conflict styles are allowed to exist and evolve with little or no understanding of how conflict escalation affects discussion and resolution. Also, Motivation is generally not used to affect how conflict might be used constructively to overcome group decision making pathologies. This study examines two areas. One, how does motivation (either negative or positive) affect an individual's natural tendency to be assertive or unassertive and cooperative or uncooperative in a group setting? And, two, how does the escalation of conflict affect these same preferences? A new Psychometric instrument called the Todd-Cambridge Instrument (for measuring the traditional Five-Zone Preferred Conflict Handling Mode, or PCHM) is applied within a seldom used, but effective setting - by introducing vignettes to influence in a sudden fashion what has traditionally been viewed as a static measurement. Although targeted at researchers in group decision making, this study will also prove valuable for researchers in innovative survey techniques.

Attenuating the Escalation of Commitment to a Faltering Project in Decision making Groups

Author : Frank Wieber
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American Decision making in the Escalation of the War in Vietnam

Author : Kenneth W. Hedman
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Escalation of Commitment Cognitive Escalation Factors and Counteraction through Behavioural Controlling

Author : Saskia Spang
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Bachelor Thesis from the year 2021 in the subject Business economics - Controlling, grade: 1.3, University of Applied Sciences Frankfurt am Main, language: English, abstract: Escalation of commitment refers to the circumstance that a decision taken is being held on despite of negative feedback. Within this thesis, the focus is on managerial decisions about investments that are continued despite poor prospects of achieving set objectives and the possibility of abandonment. The paper addresses cognitive escalation factors as a cause of escalation of commitment and presents the state of the literature and research on countermeasures through behavioural controlling in the company context.

The Escalation of Commitment in Political Decision making Groups

Author : Beth Dietz Uhler
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Guide to Decision Making

Author : Helga Drummond
File Size : 56.71 MB
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Effects of Authentic and Contrived Dissent on Escalation of Commitment in Group Decision Making

Author : T. et al Greitemeyer
File Size : 73.83 MB
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The Effect of Framing on Decision Making in Escalation Scenarios

Author : Steven Craig Davidson
File Size : 32.3 MB
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