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Behavioral issues in price setting in business-to-business marketing: A framework for analysis

Gopalkrishnan R. Iyer, Sarah Hong Xiao, Arun Sharma, Michael Nicholson
2015 Industrial Marketing Management  
setting in business-to-business contexts.  Issue understanding, cognitive biases and heuristics are offered as major managerial factors that impact price setting.  An agenda for future research is offered  ...  We apply insights from a steadily increasing body of literature on behavioral decision making to identify some relevant behavioral issues that may affect managerial price setting processes in business-to-business  ...  In an attempt to understand how cognitive biases may affect price setting, we have only made a beginning in identifying possible biases that could impact price setting processes in the business-to-business  ... 
doi:10.1016/j.indmarman.2015.02.001 fatcat:5vtvawx62zeizoonwhebrnefly

Cognitive barriers during monitoring-based commissioning of buildings

Nora Harris, Tripp Shealy, Kristen Parrish, Jessica Granderson
2019 Sustainable cities and society  
In particular, this paper discusses cognitive biases, which can lead to suboptimal outcomes in energy efficiency decisions, resulting in missed opportunities for energy savings.  ...  Monitoring-based commissioning (MBCx) is a continuous building energy management process used to optimize energy performance in buildings.  ...  While issues of cost and time are certainly barriers to MBCx these issues can often represent symptoms to underlying root problems in cognitive processing capabilities.  ... 
doi:10.1016/j.scs.2018.12.017 fatcat:wslot2ypcnechjaedbvmuderny

Reducing Biases in Cross-Cultural Top Management Team Decision-Making Processes

David Strutton, William Carter
2013 International Journal of Business Administration  
biases' potentially irrational influence on decision-making processes by consolidating divergent biases to secure mutual gain within cc-TMT settings.  ...  As they arise, these biases often undermine the rationality of decision-making processes used inside teams.  ...  Use a Process that Accounts for Biases Biases can't be eliminated, but they must be accounted for Leverage biases when appropriate Structure discussion rules and process to manage conflict 4.  ... 
doi:10.5430/ijba.v4n3p1 fatcat:a4zdyly3zjb6zdae7rwuify4vm

Managerial decision-making in international business: A forty-five-year retrospective

Yair Aharoni, Laszlo Tihanyi, Brian L. Connelly
2011 Journal of World Business  
For example, biases about country conditions and cultures may lead managers to decline expatriate assignments or advocate alternative locations for FDI.  ...  A second line of research has demonstrated that human cognitive processes are intended to reduce cognitive effort through the use of heuristics that create systematic biases (Kahneman & Tversky, 1979)  ... 
doi:10.1016/j.jwb.2010.05.001 fatcat:awet5ee26jggfegegu4mxvnnoe

Behavioral Finance and the Business Cycle

Ted E. Prince
2017 Business Ethics and Leadership  
This suggests that tracking cognitive biases may provide a new way to identify the phases of the business cycle. This has the added advantage that behavior is a leading indicator of outcome.  ...  In these disciplines, decisions are driven by innate and usually unconscious cognitive biases.  ...  issue of cognitive biases.  ... 
doi:10.21272/bel.1(4).28-48.2017 fatcat:kcvdsskfbzdolhprukymi73k4a

Guest editorialNew challenges for business actors and positive heuristics

Simone Guercini, Christian Lechner
2021 Management Decision  
PurposeThe purpose of this guest editorial is to present an overview of the contributions in this special issue and proposes a positive approach to heuristics deriving from the growing interest in the  ...  view of business actors' judgments and choices based on heuristics, not only in terms of effectiveness in practice, but their fit with human cognition and behavior, and the potential distinctiveness in  ...  in specific decision-making processes (entry in international markets, innovation processes etc.), rule-based decision-making theory in relation to management wisdom, cognitive dimensions of framing,  ... 
doi:10.1108/md-07-2021-118 fatcat:bod2zw5yyzhkrgu52dhsepozjy

Risk Management and Behavioral Finance

E. Ted Prince
2018 Financial Markets Institutions and Risks  
It is based on a distillation of cognitive biases used in behavioral economics and finance.  ...  Risk management needs a new paradigm which is based on leading indicators and which can therefore predict such problems.  ...  That means the cognitive biases of nonfinancial managers must also be included when assessing overall risk.  ... 
doi:10.21272/fmir.2(2).5-21.2018 fatcat:hsg333uudzbuxbzg3cplesy5y4

The Ethical Intention and Prediction Matrix: Reducing Perceptual and Cognitive Biases for Learning

Stephen L. Payne
2006 Journal of Management Education  
To what extent, if any, did the case discussion generate “cognitive dissonance” or introduce issues and/or concerns leading you to shift from your initial per- spective on this case prior to our discussion  ...  Business ethics faculty need to anticipate and try to reduce student tendencies for social desirability, impression management, projection, and other biases that can inhibit their cognitive and/or affective  ... 
doi:10.1177/1052562905280843 fatcat:gusdnbu3fjfqle2coh7scwh6oa

What do managers' survey responses mean and what affects them? The case of market orientation and firm performance

Baiding Rong, Ian F. Wilkinson
2011 Australasian Marketing Journal  
This problem leads to unsound conclusions and management advice.  ...  Another type of feedback effect arises due to the reliance on management perceptions and recall to measure variables in a model, as a result of managers perceptual and sensemaking processes (Weick, 2000  ...  Festinger's (1962) cognitive dissonance theory also implies that attribution biases can help people to reach cognitive consistency.  ... 
doi:10.1016/j.ausmj.2011.04.001 fatcat:f6e6ntlbn5hnlg7oexiawsplre

Valverde 2020-Decision making a toolbox for anxious managers.pdf [article]

Juan Carlos VALVERDE
In spite of the relevance of anxiety in managerial decision making, there is scant literature debating the techniques that anxious managers can apply to attenuate the biases they exhibit.  ...  After identifying the most suitable techniques to improve decision making in managerial contexts, this essay discusses five techniques that can be easily applied in by anxious managers seeking to improve  ...  Humans permanently engage in automatic processes that lead to incorrect decisions.  ... 
doi:10.6084/m9.figshare.13322411.v1 fatcat:t6ymmxootzhrfk43wv5oihw6ki


Dr. Chabi Gupta
2019 International Journal of Technical Research & Science  
In this study, the aim is to establish the existence of such fundamental issues, driven by various psychological biases, in the investment decision-making process.  ...  The outcome of poor knowledge is that investors allow these theories to effect on their decision-making process, thus resulting in major losses.  ...  This is how mental heuristics and cognitive biases work when the human brain takes a shortcut in processing information and does not process the full information and its implications.  ... 
doi:10.30780/ijtrs.v04.i08.002 fatcat:d55oxjimvzadpaaln7zavw4m2q

Mitigating Cognitive Biases in Developing AI-Assisted Recruitment Systems

Melika Soleimani, Ali Intezari, David J. Pauleen
2022 International Journal of Knowledge Management  
There are risks of encoding biases in the datasets and algorithms of AI which lead AIRS to replicate and amplify human biases.  ...  Artificial Intelligence (AI) is increasingly embedded in business processes, including the Human Resource (HR) recruitment process.  ...  Other studies have shown that in the business context, cognitive biases can significantly distort managers' understanding of the decision situation and lead to biased decisions (Kahneman et al., 2011)  ... 
doi:10.4018/ijkm.290022 fatcat:odrikjtpancfphgmg3dhw5wtiq

Behavioural Economics Contribution to the Entrepreneurship Theory and its Application in Entrepreneurship Policies

N. P. Dobryagina
2021 Administrative Consulting  
The paper suggests that behavioural economics approaches should be used in entrepreneurship policies as they help to deal with similar issues in other spheres.  ...  Based on interdisciplinary research the paper proves that behavioural economics provides a significant contribution to the entrepreneurship theory and can increase the effect of policies focused on entrepreneurship  ...  These concepts include the cognitive biases, which represent propensity to think in a certain way what leads people to a systematic deviation from rational behaviour.  ... 
doi:10.22394/1726-1139-2021-1-50-60 fatcat:or7yigcldbawxgmiowdwai3ega

Moving Opportunism to the Back Seat: Bounded Rationality, Costly Conflict, and Hierarchical Forms

Nicolai J. Foss, Libby Weber
2016 Academy of Management Review  
We augment transaction cost economics' bounded rationality assumption with heuristics (framing) and cognitive biases to expand the understanding of hierarchical governance in the theory.  ...  However, when an augmented bounded rationality assumption is incorporated into transaction cost economics, we argue, first, that bounded rationality is a separate source of transaction costs and, second  ...  Relatedly, two individual-level cognitive biases lead to conflict when parties evaluate responsibility for an outcome.  ... 
doi:10.5465/amr.2014.0105 fatcat:4lkqqh4tybek7pfmuuyfhrwrqm

Toward a Theory of Behavioral Operations

Francesca Gino, Gary Pisano
2008 Manufacturing & Service Operations Management  
We explore the theoretical and practical implications of incorporating behavioral and cognitive factors into models of operations management and suggest fruitful avenues for research in behavioral operations  ...  In this paper, we argue that operations management scholars should do the same.  ...  The authors also want to thank the reviewers for their excellent feedback and the editors for their patience and wise guidance during the revision process.  ... 
doi:10.1287/msom.1070.0205 fatcat:numdacqdd5bmhggrfzpqdvg5x4
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