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LUBS2785
Module Reading List - key readings for each topic - also see supplementary readings in folder below

How Managers Make Decisions, 2018/19, Semester 1
Nicola Bown
N.J.Bown@lubs.leeds.ac.uk
Tutor information is taken from the Module Catalogue

NOTE THAT NO SINGLE TEXT COVERS THIS MODULE, AND SOME READINGS ARE FROM JOURNALS. PURCHASE IS NOT RECOMMENDED IN THE FIRST INSTANCE OTHER THAN FOR THE BACKGROUND READING, WHICH IS A LOW COST PAPERBACK (ALTHOUGH PURCHASE IS STILL OPTIONAL AND THERE ARE COPIES IN THE LIBRARY)

Background Reading

Kahneman, Daniel (2012), Thinking, fast and slow, Penguin. This overviews a number of topics covered on this module in a readable way, you might find it good background reading, helping to put the lectures in a broader context of research.

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Key Texts

Bazerman, M. & Moore, D. A. (2013) Judgment in managerial decision making. 8th Edition; Wiley.
The 6th and 7th Editions are also useful.

Hardman, D. (2009) Judgment and decision making : psychological perspectives. BPS Blackwell.

Wilkinson, N. & Klaes, M. (2012)  An introduction to behavioral economics. 2nd Edition, Palgrave.
The 1st edition is also useful

Newell, B. R. Lagnado D. A and. Shanks D. R. (2007) Straight choices : the psychology of decision making. Psychology Press.

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Topic readings

NB: We code readings as follows:

*** Obligatory

** Will provide extra for good marks

* Background

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Lecture 1 Introduction and Normative Decision Theory

*** Beach & Connolly (2005). The psychology of decision making. Sage. Chapter 4. (main reading and Seminar 1 Reading). Available as an Online Course Reading in Minerva.

* Baron (2000) Thinking and deciding . CUP. Chapter 10.

* French, S., Maule, A. J. & Papamichail N (2009) Decision behaviour, analysis and support. Cambridge University Press. Chapter 1.

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Lecture 2 Are People Rational Decision Makers?

** Bazerman, M. & Moore, D. A. (2008). Judgment in managerial decision making. 7th Edition; Wiley. pp 3-5

* Kahneman, D., & Frederick, S. (2002). Representativeness revisited: Attribute substitution in intuitive judgment. In T. Gilovich, D. Griffin, & D. Kahneman (Eds.), Heuristics and biases : the psychology of intuitive judgement (pp. 49–81). New York: Cambridge University Press Available as an Online Course Reading in Minerva .

* Kahneman, D (2003). A Perspective on Judgment and Choice Mapping Bounded Rationality. The American psychologist., 58, 697 – 720.

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Lecture 5 & 6 Decision Framing and Prospect Theory I & II

*** Kahneman & Tversky (1984) Choices, Values and Frames. The American psychologist., 39, 341 – 350. (main reading and Seminar 3 Reading).

*** The references below cover the same ground as each other- reference 4 does this in greatest detail

 Newell, B. R., Lagnado, D. A. & Shanks, D R (2007). Straight choices : the psychology of decision making: Psychology Press. pp115 – 134.

  1. Bazerman, M. & Moore, D. A. (2013). Judgement in managerial decision making. 8th Edition; Wiley. Chapter 5. (NOTE: In the 7th edition it is Chapter 4, and in the 6th edition it is Chapter 3).

  2. Hardman, D. (2009). Judgment and decision making : psychological perspectives. BPS Blackwell. Chapter 7 Available as an Online Course Reading in Minerva.

  3. Wilkinson, N. & Klaes, M. (2012). An introduction to behavioral economics. 2nd edition; Palgrave. Chapter 5. (NOTE: In the 1st edition it is Chapter 3). Available as an Online Course Reading in Minerva

  4. Galotti (2002) Making decisions that matter : how people face important life choices. Erlbaum. pp 35 – 37.

    Some other references that might be useful:

    *Kuhberger (1998) The influence of framing on risky decision making . Organizational behavior and human decision processes., 75, 23 – 55.

    *Levin, Schneider & Gaeth (1998) All frames are not created equal: A typology and critical analysis of framing effects. Organizational behavior and human decision processes., 76, 149 188.

    *Maule, J & Villejoubert, G (2007) What Lies Beneath: Reframing Framing effects. Thinking and reasoning.. 13 – 24.

    **Camerer (2000) Prospect Theory In The Wild: Evidence From The Field. In Kahneman & Tversky (Eds) (2000). Choices, values and frames. Cambridge University Press. Available as an Online Course Reading in Minerva

    *Dunegan (1993) Journal of Applied Psychology., 78, 491 – 503.

    *Gonzalez et al (2005) Journal of economic psychology., 26, 1–20.

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    Lectures 7 & 8 Mental Accounting

    ***Thaler, R. H. (1999). Mental accounting matters. Journal of behavioral decision making., 12, 183–206.

    ** Wilkinson, N. & Klaes, M. (2012). An introduction to behavioral economics. 2nd edition; Palgrave. Chapter 6. (NOTE: In the 1st edition it is Chapter 4). (quite detailed) .

    **Hardman, D. (2009) Judgment and decision making : psychological perspectives. BPS Blackwell. pp 83 - 88. (less detailed) .

    ** Bazerman, M. & Moore, D. A. (2013). Judgement in managerial decision making. 8th Edition; Wiley. Chapter 5 (NOTE: In the 7th edition it is Chapter 4, and in the 6th edition it is Chapter 3).

    *Barberis, N., & Huang, M. (2001). Mental accounting, loss aversion, and individual stock returns. The journal of finance., 56, 1247–1292.

    *Karlsson, N., Loewenstein, G., & Seppi, D. (2005). The ‘‘Ostrich Effect’’: Selective attention to information about investments. Working paper, available at < http://papers.ssrn.com/sol3/papers.cfm? abstract_id=772125 >.

    *Prelec, D., & Loewenstein, G. (1998). The red and the black: Mental accounting of savings and debt. Marketing science : the marketing journal of INFORMS., 17, 4–28.

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    Lectures 3 & 4 Gathering & Interpreting Information I & II

*** Roxburgh (2003), Hidden Flaws in strategy. The McKinsey quarterly., 2, 26 – 40 (Seminar 4 reading)

*** Bazerman, M. & Moore, D. A. (2013). Judgement in managerial decision making. 8th Edition; Wiley. Chapter 3. (NOTE: In the 7th and 6th edition it is Chapter 2) .

Other readings:

**Dunning, Heath and Suls (2004) Flawed Self-Assessment: Implications for Health, Education, and the Workplace. Psychological science in the public interest., 5, 69 – 106. (Particularly first and final sections of article)

**Lovallo & Kahneman (2003) Delusions of success. Harvard business review., 81, 57 – 63.

All the following cover the same area (roughly!!)**

Baron (2001) Thinking and deciding. Chapter 6.

Newell, B R, Lagnado, D A & Shanks, D R (2007). Straight choices: The Psychology of Decision Making. Psychology Press. Chapter 6.

Hardman, D. (2009) Judgment and decision making : psychological perspectives. BPS Blackwell. Chapter 3 and 9

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Lecture 9 Motivational Biases

*** Bazerman & Moore (2013) Judgement in managerial decision making. 8th Edition; Wiley. Chapter 6 (NOTE: In the 7th edition it is Chapter 5, and in the 6th edition it is Chapter 4) Available as an Online Course Reading in Minerva .

 *Loewenstein et al (2001). Risk as feelings. Psychological bulletin., 127, 267 – 286.

 **Newell, B R, Lagnado, D A & Shanks, D R (2007). Straight choices: The Psychology of Decision Making. Psychology Press. Chapter 13.

 **Schwartz (2000) Emotion, cognition and decision making. Cognition and emotion., 14, 433- 440 (particularly pages 433- 435).

 *Baron (2001) Thinking and deciding, CUP. 206 – 211.

 *Hardman, D. (2009) Judgment and decision making : psychological perspectives. BPS Blackwell. Chapter 9 .

 ** Phillips, H (2008) The origins of willpower. New scientist., 13th September, pp 40 – 43.

 **Dunning, Heath and Suls (2004) Flawed Self-Assessment: Implications for Health, Education, and the Workplace. Psychological science in the public interest., 5, 69 –06. (Particularly first and final sections of article)

 **Gilovich, Griffin & Kahneman (2002) Heuristics and biases : the psychology of intuitive judgement human judgement. Sections D and E .

**Loewenstein (1996) Out of control. Organizational behavior and human decision processes., 65,272-292

 **Slovic et al (2003) Judgment and decision making: The dance of affect and reason. In Schneider, Sandra L & Shanteau, James (Eds). (2003). Emerging perspectives on judgment and decision research (pp. 327-364). New York, NY, US: Cambridge University Press. (In Library) Available as an Online Course Reading in Minerva

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Lecture 10 Naturalistic Decision Making

***Klein G. (1993) A recognition primed decision (RPD) model of rapid decision making. In Klein et al (Eds) Decision making in action : models and methodsAvailable as an Online Course Reading in Minerva.

***Klein (2008) Naturalistic Decision Making. Human factors : the journal of the Human Factors and Ergonomics Society., 50, 456 – 460.

** Pliske & Klein (2003) The naturalistic decision making perspective. In S Schneider & J Shanteau (Eds) Emerging perspectives on judgment and decision research. Cambridge University Press

** Hardman, D. (2009) Judgment and decision making : psychological perspectives. BPS Blackwell. pp 129 – 131 .

**Newell, Lagnado and Shanks (2007) Straight choices. Psychology Press. pp 55 - 59

** Kahneman & Klein (2009) Conditions for Intuitive Expertise: A Failure to Disagree. The American psychologist. , 64 ( September ) 515 – 526.

* Lipshitz, Klein, Orasanu & Salas (2001). Taking stock of naturalistic decision making. Journal of behavioral decision making., 14, 331 – 352. (Provides a critical review of the area, followed by a series of commentaries) the basic article is available electronically in library.

*Orasanu & Connolly (1993) The reinvention of decision making. In Klein et al. (Eds) Decision making in action : models and methods

*Zsambok & Klein (Eds) (1997) Naturalistic decision making. Erlbaum

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Seminar 1: Introduction to Decision Making: Decision Theory

Reading: Beach & Connolly (2005). The psychology of decision making. Sage. Chapter 4.

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Seminar 4: Value and Reason Based Decisions

Reading: Shafir, Simonson & Tversky (1993). Reason based choice, Cognition : international journal of cognitive science., 49, 11-36.

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Seminar 3: Prospect Theory and Mental Accounting

Reading: Kahneman & Tversky (1984). Choices, Values and Frames. The American psychologist., 39, 341 – 350.

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Seminar 2: System 1 Thinking in the Real World

Reading: Roxburgh (2003). Hidden flaws in strategy. The McKinsey quarterly., 2, 26 – 40.

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Seminar 5: Naturalistic Decision Making

Reading: Klein G. (1993) A recognition primed decision (RPD) model of rapid decision making. In Klein et al (Eds) Decision making in action : models and methods. Ablex

This chapter is available in pdf form in the Seminars Folder in the VLE. Unfortunately the binding on this book is very tight, so the copy does not have much space on the side of the page where the spine would be, but it can be read. Available as an Online Course Reading in Minerva.

This list was last updated on 26/09/2017