Wharton on Making Decisions by Stephen J. Hoch (English) Paperback Book

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This book assembles leading researchers who demonstrate how to apply the latest approaches to the science of decision--making from four perspectives: personal, managerial, negotiator, and consumer. Stephen J. Hoch (Philadelphia, PA) is the John J. Pomerantz Professor of Marketing at the Wharton School, University of Pennsylvania.

FORMATPaperback LANGUAGEEnglish CONDITIONBrand New Publisher Description

Perspectives from leaders in decision science at WhartonOrganized in part through Wharton's Risk Management and Decision Processes Center, the book assembles leading researchers from Wharton's business faculty who demonstrate how to apply the latest approaches in decision-making from four perspectives: personal, managerial, negotiator, and consumer. Each chapter describes how decisions are actually made, presents the ideal scenario, and then provides practical suggestions for improvement. The subjects range from when consumers will choose variety, integrating intuition into decisions, and applying game theory and strategic decisions, to decision factors in negotiations and how choices are made about insurance and health care.

Back Cover

Praise for WHARTON ON MAKING DECISIONS "Provides a unique blend of theory and practical experience. The authors' insights are at many times humorous, always instructive, and definitely thought-provoking. This book should be recommended reading for decision makers in today's fast-moving world where alternative choices are increasing in number, complexity, and importance." --Arthur D. Collins Jr., Chairman and CEO, Medtronic, Inc. "This is a superb book that provides valuable insights for managers at all levels. No matter how many critical decisions we make, it is useful to be reminded of the intricacies of the process. Wharton on Making Decisions does just that." --Rakesh Gangwal, Chairman, President, and CEO, Worldspan "Takes a thorough look at the hard and soft sides of decision making-the intuitive as well as the analytical. With the frenetic pace and complexities of decision making today, this is reading that no manager should miss." --Robert S. Morrison, Chairman, President, and CEO, The Quaker Oats Company "The depth and breadth of the Wharton collection will help establish the case for the decision sciences to become a new major field of undergraduate and graduate studies at many universities (including my own at Harvard). Thanks, Wharton!" --Howard Raiffa, Frank P. Ramsey Professor (Emeritus) of Managerial Economics, Harvard Business School "As managers, we would be pretty disappointed if someone could give us our batting average on the decisions we make. I have no doubt that this book can improve your average." --Jean-Pierre Rosso, Chairman, CNH Global N.V. "Offers penetrating insight into the art and science of decision making. Relevant to both business and personal life, it's a must-read for any decision maker." --Alfred P. West Jr., Chairman and CEO, SEI Investments

Flap

Praise for WHARTON ON MAKING DECISIONS "Provides a unique blend of theory and practical experience. The authors' insights are at many times humorous, always instructive, and definitely thought-provoking. This book should be recommended reading for decision makers in today's fast-moving world where alternative choices are increasing in number, complexity, and importance." --Arthur D. Collins Jr., Chairman and CEO, Medtronic, Inc. "This is a superb book that provides valuable insights for managers at all levels. No matter how many critical decisions we make, it is useful to be reminded of the intricacies of the process. Wharton on Making Decisions does just that." --Rakesh Gangwal, Chairman, President, and CEO, Worldspan "Takes a thorough look at the hard and soft sides of decision making-the intuitive as well as the analytical. With the frenetic pace and complexities of decision making today, this is reading that no manager should miss." --Robert S. Morrison, Chairman, President, and CEO, The Quaker Oats Company "The depth and breadth of the Wharton collection will help establish the case for the decision sciences to become a new major field of undergraduate and graduate studies at many universities (including my own at Harvard). Thanks, Wharton!" --Howard Raiffa, Frank P. Ramsey Professor (Emeritus) of Managerial Economics, Harvard Business School "As managers, we would be pretty disappointed if someone could give us our batting average on the decisions we make. I have no doubt that this book can improve your average." --Jean-Pierre Rosso, Chairman, CNH Global N.V. "Offers penetrating insight into the art and science of decision making. Relevant to both business and personal life, it's a must-read for any decision maker." --Alfred P. West Jr., Chairman and CEO, SEI Investments

Author Biography

STEPHEN J. HOCH is the John J. Pomerantz Professor of Marketing at the Wharton School.HOWARD C. KUNREUTHER is the Cecilia Yen Koo Professor of Decision Sciences and Public Policy and Management, and Codirector of the Risk Management and Decision Processes Center at the Wharton School.ROBERT E. GUNTHER was the coordinating writer for Wharton on Managing Emerging Technologies and Wharton on Dynamic Competitive Strategy.

Table of Contents

Chapter 1. A Complex Web of Decisions (Stephen J. Hoch and Howard C. Kunreuther). PART I. PERSONAL DECISION MAKING. Chapter 2. The Emotional Nature of Decision Trade-Offs (Mary Frances Luce, John W. Payne and James R. Bettman). Chapter 3. Bumbling Geniuses: The Power of Everyday Reasoning in Multistage Decision Making (Robert J. Meyer and J. Wesley Hutchinson). Chapter 4. Choosing Variety (Barbara E. Kahn and Andrea Morales). PART II. MANAGERIAL DECISION MAKING. Chapter 5. Combining Models with Intuition to Improve Decisions (Stephen J. Hoch). Chapter 6. Reflective versus Expedient Decision Making: Views from East and West (Karen A. Jehn and Keith Weigelt). Chapter 7. Decision Making in Complex Environments: New Tools for a New Age (Paul R. Kleindorfer). Chapter 8. Managing Frames to Make Better Decisions (Paul J.H. Schoemaker and J. Edward Russo). PART III. MULTIPARTY DECISION MAKING. Chapter 9. Strategic Learning and Teaching (Colin F. Camerer and Teck H. Ho). Chapter 10. Reputations in Negotiation (Steven Glick and Rachel Croson). Chapter 11. Deception in Negotiations (Maurice E. Schweitzer). Chapter 12. Electronic Bargaining: The Perils of E-Mail and the Promise of Computer-Assisted Negotiations (G. Richard Shell). PART IV. IMPACT OF DECISION MAKING ON SOCIETY. Chapter 13. A Change of Heart: Unexpected Responses to Medical Testing (John Hershey and David A. Asch). Chapter 14. Values and Decisions (J Irwin and Jonathan Baron). Chapter 15. Protective Decisions: Fear or Prudence (Howard C. Kunreuther). Chapter 16. Learners or Lemmings: The Nature of Information Cascades (Felix Oberholzer-Gee). Chapter 17. Split Personality: Inconsistencies in Private and Public Decisions (Mark V. Pauly). Notes. Index.

Long Description

Praise for WHARTON ON MAKING DECISIONS "Provides a unique blend of theory and practical experience. The authors' insights are at many times humorous, always instructive, and definitely thought-provoking. This book should be recommended reading for decision makers in today's fast-moving world where alternative choices are increasing in number, complexity, and importance." --Arthur D. Collins Jr., Chairman and CEO, Medtronic, Inc. "This is a superb book that provides valuable insights for managers at all levels. No matter how many critical decisions we make, it is useful to be reminded of the intricacies of the process. Wharton on Making Decisions does just that." --Rakesh Gangwal, Chairman, President, and CEO, Worldspan "Takes a thorough look at the hard and soft sides of decision making-the intuitive as well as the analytical. With the frenetic pace and complexities of decision making today, this is reading that no manager should miss." --Robert S. Morrison, Chairman, President, and CEO, The Quaker Oats Company "The depth and breadth of the Wharton collection will help establish the case for the decision sciences to become a new major field of undergraduate and graduate studies at many universities (including my own at Harvard). Thanks, Wharton!" --Howard Raiffa, Frank P. Ramsey Professor (Emeritus) of Managerial Economics, Harvard Business School "As managers, we would be pretty disappointed if someone could give us our batting average on the decisions we make. I have no doubt that this book can improve your average." --Jean-Pierre Rosso, Chairman, CNH Global N.V. "Offers penetrating insight into the art and science of decision making. Relevant to both business and personal life, it's a must-read for any decision maker." --Alfred P. West Jr., Chairman and CEO, SEI Investments

Feature

Decision making, particularly where it involves risk management, confronts all managers working in complex situations, and Wharton is one of the country's leading researchers in this area. Each chapter describes how decisions are actually made, presents the ideal scenario, and then provides practical suggestions for improvement (prescriptive). The subjects range from when consumers will choose variety, integrating intuition into decisions, and applying game theory and strategic decisions, to decision factors in negotiations and how choices are made about insurance and health care. Draws from the research of the leaders in decision science. Psychology faculty (Jon Baron) and contributors with joint appointments in management and public policy (Oberholzer-Gee), legal studies (G. Richard Shell), and health care (Mark Pauly) provide current contexts for decision theory in their business areas.

Details ISBN0471689386 Short Title WHARTON ON MAKING DECISIONS Language English ISBN-10 0471689386 ISBN-13 9780471689386 Media Book Format Paperback DEWEY 658.403 Illustrations Yes Year 2004 Imprint John Wiley & Sons Inc Place of Publication New York Country of Publication United States Edited by Howard C. Kunreuther Edition 1st DOI 10.1604/9780471689386 UK Release Date 2004-09-03 AU Release Date 2004-09-03 NZ Release Date 2004-09-03 US Release Date 2004-09-03 Author Robert E. Gunther Pages 352 Publisher John Wiley & Sons Inc Publication Date 2004-09-03 Alternative 9780471382478 Audience Professional & Vocational We've got this

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