how managers make decisions - who made what

Kahneman (2011) - thinking

System 1 and 2 thinking

Klein (2015)

quality of intuitive decision making is enhanced by expertise

Neumann & Morgenstern (1947)

decision matrix - bayesian updating

Orasanu & Connolly (1993)

decision theory doesnt explain how experts make decisions irl

Klein (2008)

recognition primed decision model blends system 1 and system 2 thinking

Kahneman & Tversky - graph

the value function

Bernoulli (1700-1782)

relative judgements are more important than absolute judgements - value of something isnt about its price, its about how useful or beneficial it feels to the person

Thaler (1985)

mental accounting

Wilkinson and Klaes (2012)

framing and editing, budgeting and fungibility, choice bracketing and dynamics

Kahneman & Tversky (1984) - accounts

can frame problem according to different mental accounts

Kahneman & Tversky (1984) and Thaler (1985)

two types of utility - acquisition utility, transaction utility

Kahneman & Tversky - theatre

theatre ticket problem

Simonson (1990) - snacks

simultaneous and sequential choice

Kahneman & Tversky, 1979, 1992

a type of descriptive theory

Kahneman & Tversky (1979)

disease problem