search query: @indexterm Decision models / total: 288
reference: 102 / 288
| Author: | Sterman, J. D. |
| Title: | Modeling managerial behavior: misperceptions of feedback in a dynamic decision making experiment. |
| Journal: | Management Science
1989 : MAR, VOL. 35:3, p. 321-339 |
| Index terms: | MANAGEMENT BEHAVIOUR DECISION MODELS |
| Language: | eng |
| Abstract: | Studies in the psychology of individual choice have identified numerous cognitive and other bounds on human rationality, often producing systematic errors and biases. Reported is an experiment on the generation of macrodynamics from microstructure in a common managerial context. Subjects manage a simulated inventory distribution system which contains multiple actors, feedbacks, nonlinearities, and time delays. The interaction of individual decisions with the structure of the simulated firm produces aggregate dynamics which systematically diverge from optimal behaviour. |
SCIMA