Organizational theorists built their knowledge of decision-making through a progressive critique of rational choice theory. Their positioning towards rationality however, is at odds with the observation of rationality persistence in organizational life. This paper addresses this paradox. It proposes a new perspective on rationality that allows the theorizing of the production of rational decisi...

current theories argue that decision making is largely based on quick and intuitive processes.the results of study on topping organizations show that successful decision-makings are intuitive rather than rational. therefore in recent years the issue of intuition and intuitive decision making as an effective management has attracted increasing attention in scientific circles and world-class rese...

Abstract This paper assesses the ways in which characteristics of entrepreneurs from transition economies, and extent to they participate making business decisions, affect their propensity make rational/risky decisions a work environment. A multicontextual analysis entrepreneurial decision-making is provided, facilitating better understanding further advancement entrepreneurship countries Monte...

The knowledge-based rational decision model (KBR-model), developed in [1], offers an approach to rational decision making in a non-probabilistic setting, e.g., in perfect information games with deterministic payoffs. The KBR-model is an epistemically explicit form of standard game-theoretical assumptions, e.g., Harsanyi’s Maximin Postulate. This model suggests following maximin strategy over al...

The knowledge-based rational decision model (KBR-model), developed in [1], offers an approach to rational decision making in a non-probabilistic setting, e.g., in perfect information games with deterministic payoffs. The KBR-model is an epistemically explicit form of standard game-theoretical assumptions, e.g., Harsanyi’s Maximin Postulate. This model suggests following maximin strategy over al...

Various modern decision theories seek to capture the intuition behind Keynes‟s conception of evidential weight. Keynes was nevertheless hesitant about the practical relevance of weight in the process of rational decision making because of the „stopping problem‟ of finding a rational principle to decide where to stop the process of acquiring information in forming a probability judgment before m...

Humans are without any doubts the prototypical example of agents that can hold rational beliefs and can show rational behaviour. When modeling human decision-making, it seems reasonable to take the remarkable abilities of humans into account with respect to rational behaviour, but also the apparent deficiencies of humans shining up in certain rationality tasks. Based on well-known challenges fo...

economists have heralded the formulation of the expected utility theorem as a universal method of choice under uncertainty. in their seminal paper, stigler and becker (stigler & becker, 1977) declared that “human behavior can be explained by a generalized calculus of utility-maximizing behavior” (p.76). the universality of the rational choice theory has been widely criticized by psychologists, ...

Under general conditions, linear decision rules of agents with rational expectations are equivalent to restricted error corrections. However, empirical rejections of rational expectation restrictions are the rule, rather than the exception, in macroeconomics. Rejections often are conditioned on the assumption that agents aim to smooth only the levels of actions or are subject to geometric rando...