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| Author: | Glazer, R. Steckel, J. H. Winer, R. S. |
| Title: | Locally rational decision making: the distracting effect of information on managerial performance. |
| Journal: | Management Science
1992 : FEB, VOL. 38:2, p. 212-226 |
| Index terms: | DECISION MAKING RATIONALITY |
| Language: | eng |
| Abstract: | In "locally rational" decision making the mere presence of information may have dysfunctional consequences even if decision makers do not process the information incorrectly. Using the results from an experiment conducted with a strategic market simulation game, it was found that the accessibility of information results in a disposition to focus on those components of decision-making most clearly addressed by the information. The decision may be optimal only with respect to specific components of a larger plan, but globally suboptimal, and overall performance may in fact suffer. The implications of the phenomena for the use of market-related data in managerial decision-making are described. |
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