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In recent years there has been increased interest in the effects of internal communication on decision processes. A number of hypotheses relating the… - James G. March
" "In recent years there has been increased interest in the effects of internal communication on decision processes. A number of hypotheses relating the bias in information to the final decision have been proposed. In this paper we discuss two laboratory experiments which were designed to test two such hypotheses. The first experiment tests the hypothesis that cost and sales estimations are made with the implicit assumption that a biased pay-off structure exists. The second experiment tests explicitly the effects of biased and unbiased pay-off structures on estimation within an organization. An analysis of the data for the two experiments is made and some implications for further research are drawn from the results.
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About James G. March
James Gardner March (January 15, 1928 – September 27, 2018) was an American business theorist and professor emeritus in management, sociology, political science, and education at Stanford University. Widely recognized as a pioneer of organization and management theory, March coauthored the classic books Organizations (1958) and A Behavioral Theory of the Firm (1959).
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James Gardner March
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James March
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Pure rationality and limited rationality share a common perspective, seeing decisions as based on evaluation of alternatives in terms of their consequences for preferences. This logic of consequences can be contrasted with a logic of appropriateness by which actions are matched to situations by means of rules organized into identities.
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