scholarly journals Entrepreneurial decision-making under risk : prospect theory and dual-process theory.

2014 ◽  
Author(s):  
Dalong Ma
Keyword(s):  
Decision Making ◽  
Prospect Theory ◽  
Dual Process ◽  
Dual Process Theory ◽  
Process Theory ◽  
Decision Making Under Risk ◽  
Entrepreneurial Decision

Entrepreneurial Decision-Making Under Risk

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Dalong Ma ◽  
James O. Fiet ◽  
David A. Dubofsky
Keyword(s):  
Decision Making ◽  
Dual Process ◽  
Dual Process Theory ◽  
Thinking Styles ◽  
Probability Weighting ◽  
Decision Making Under Risk ◽  
Subjective Value ◽  
Different Types ◽  
Entrepreneurial Decision ◽  
Value Model

Abstract This research addresses how entrepreneurs may make different decisions compared to non-entrepreneurs when they face the same opportunities. We begin by considering the nexus between opportunities and entrepreneurs/non-entrepreneurs. From an entrepreneur’s perspective, based on dual-process theory, we examine how different thinking styles influence decision-making. From an opportunity perspective, based on prospect theory, we test how different types of opportunity framing influence decision-making. The results indicate that entrepreneurs and non-entrepreneurs assess opportunities differently. Our research design also provides a new method to elicit both the subjective value model and the probability-weighting model.

scholarly journals The complex phenomenon of dysrational antibiotics prescribing decisions in German primary healthcare: a qualitative interview study using dual process theory

2020 ◽  
Vol 9 (1) ◽  
Author(s):  
Regina Poss-Doering ◽  
Martina Kamradt ◽  
Anna Stuermlinger ◽  
Katharina Glassen ◽  
Petra Kaufmann-Kolle ◽  
...  
Keyword(s):  
Primary Care ◽  
Decision Making ◽  
Primary Care Physicians ◽  
Educational Interventions ◽  
Care Patient ◽  
Dual Process ◽  
Dual Process Theory ◽  
Process Theory ◽  
Qualitative Interview Study ◽  
Prescription Rates

Abstract Background Antibiotic prescription rates in primary care in Germany are moderate, but still considered too high. The ARena study (Sustainable reduction of antibiotic-induced antimicrobial resistance) was initiated to foster awareness and understanding of the growing challenge and promotes rational antibiotics use for acute, non-complicated and self-limiting infections. Methods The present study was performed as part of the process evaluation of the ARena study. Interviews were conducted with a purposive sample of physicians participating in the ARena study to identify factors relevant to primary care physicians’ decision-making when prescribing antibiotics for acute non-complicated infections. Generated data were audio-recorded. Pseudonymized verbatim transcripts were coded using a pre-defined framework. The Dual Process Theory was applied to provide understanding of individual health professional factors that induce dysrational prescribing decisions. Results Based on medical as well as non-medical considerations, physicians developed habits in decision making on antibiotics prescribing. They acknowledged inadequate antibiotics prescribing for acute, non-complicated infections in situations involving uncertainty regarding diagnosis, prognosis, continuity of care, patient expectations and when not knowing the patient. Educative efforts empowered physicians to override habitual prescribing. A theory-driven model provides transparency as to how dysrational prescribing decisions occur and suggests remedy by providing new experiences and new recognizable patterns through educative efforts. Conclusions Educational interventions may only change prescribing behaviours if they result in active rational rather than routine-based decision-making on antibiotics prescribing. Trial registration ISRCTN, ISRCTN58150046.

scholarly journals Dual Process Theories in Behavioral Economics and Neuroeconomics: a Critical Review

2019 ◽  
Vol 11 (1) ◽  
pp. 105-136 ◽  
Author(s):  
James D. Grayot
Keyword(s):  
Decision Making ◽  
Behavioral Economics ◽  
Critical Review ◽  
Dual Process ◽  
Decision Models ◽  
Dual Process Theory ◽  
Process Theory ◽  
Standard View ◽  
Realistic Description ◽  
Dual Process Theories

Abstract Despite their popularity, dual process accounts of human reasoning and decision-making have come under intense scrutiny in recent years. Cognitive scientists and philosophers alike have come to question the theoretical foundations of the ‘standard view’ of dual process theory and have challenged the validity and relevance of evidence in support of it. Moreover, attempts to modify and refine dual process theory in light of these challenges have generated additional concerns about its applicability and refutability as a scientific theory. With these concerns in mind, this paper provides a critical review of dual process theory in economics, focusing on its role as a psychological framework for decision modeling in behavioral economics and neuroeconomics. I argue that the influx of criticisms against dual process theory challenge the descriptive accuracy of dualistic decision models in economics. In fact, the case can be made that the popularity of dual process theory in economics has less to do with the empirical success of dualistic decision models, and more to do with the convenience that the dual process narrative provides economists looking to explain-away decision anomalies. This leaves behavioral economists and neuroeconomists with something of a dilemma: either they stick to their purported ambitions to give a realistic description of human decision-making and give up the narrative, or they revise and restate their scientific ambitions.

Quality or Quantity? The Power of Expert Reviews in the Presence of Conflicting Aggregated Ratings

2021 ◽  
Vol 5 (2) ◽  
pp. 119-129
Author(s):  
Anna Naujoks
Keyword(s):  
Decision Making ◽  
Information Sources ◽  
Online Reviews ◽  
Dual Process ◽  
Dual Process Theory ◽  
Process Theory ◽  
Online Review ◽  
Decision Making Process ◽  
Simultaneous Presence ◽  
Multiple Cues

Many consumers consult online reviews to evaluate services. Online review platforms present them with multiple cues by which to assess whether a review message is useful in their decision-making process. However, consumers are often faced with conflicting opinions from different information sources. By using the theoretical framework of dual-process theory and signaling theory, this paper examines the effect of majority and minority influences.It further investigates how expert reviewers are perceived, and the role played by the total number of available reviews. A 2 x 2 x 2 (review valence x expertise of conflicting review x number of reviews) scenario-based experiment is conducted. The results demonstrate that expert sources weaken the prominent influence of the majority, especially when majority size is small. The research contributes to existing literature by explaining how the simultaneous presence of majority and minority influences affects consumers’ decision-making process. Moreover, it examines the power of online expert reviewers.

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