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Author: | Pennings, J.M.E. Smidts, A. |
Title: | The shape of utility functions and organizational behaviour |
Journal: | Management Science
2003 : SEP, VOL. 49:9, p. 1251-1263 |
Index terms: | Decision making Organizational behaviour Utility functions |
Language: | eng |
Abstract: | This study investigates how the global shape of the utility function relates to choice behaviour based on measurements among 332 owner-managers. It is found that the global shape of the utility function differs across decision makers (about one out of three of the owner-managers exhibit an S-shaped utility function) and that the global shape is linked to organizational behaviour (i.e. the production system employed), a result that does not change when using different methods to identify the decision maker's global shape of the utility function. |
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