Enterprise Decision Making as Explained in Interview-Based Studies
Hugh H. Schwartz
University of the Republic, Montevideo, Uruguay
November 15, 2010
BEHAVIORAL FINANCE: INVESTORS, CORPORATIONS, AND MARKETS, Chapter 20, H. Kent Bake, John Nofsinger, eds., John Wiley and Sons, Hoboken, NJ, October 2010
Most analyses of decision making at the enterprise level are based on data from experimental laboratories or on publicly available information. Almost all of these studies reflect the result of decision-making processes. Only a few studies are based on open-ended interviews with decision makers and attempt to ferret out the reasoning underlying the decisions. Although these interview-based analyses have several objectives, primarily they attempt to draw attention to the most promising among the available hypotheses about enterprise decision making. In a few cases, they suggest more realistic theories of business behavior. The chapter focuses on the small number of analyses that are based on real-time contact with decision makers.
Keywords: Decision making; in-depth, open-ended interviews, wage stickiness, price formation, industrial development
JEL Classification: D00, L00, M21, Z00Accepted Paper Series
Date posted: November 16, 2010
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