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Strategizing with biases : engineering choice contexts for better decisions using the Mindspace approach
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Liu, Chengwei, Vlaev, Ivo, Fang, Christina, Denrell, Jerker and Chater, Nick (2017) Strategizing with biases : engineering choice contexts for better decisions using the Mindspace approach. California Management Review, 59 (3). pp. 135-161. doi:10.1177/0008125617707973 ISSN 0008-1256.
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Official URL: https://doi.org/10.1177/0008125617707973
Abstract
We introduce strategists to the Mindspace framework and explore its applications in strategic contexts. This framework consists of nine effective behavioral interventions which are grounded in the public policy applications, and focuses on how changing the context can be
more effective than attempts to de-bias decision-makers. Behavioral changes are likely when we follow rather than fight human nature. Better decisions can be achieved by engineering choice contexts to “engage a bias” to overcome a more damaging bias. We illustrate how to engineer strategic contexts through two case studies and outline directions and challenges when applying Mindspace to strategic decisions.
| Item Type: | Journal Article | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HD Industries. Land use. Labor | ||||||||
| Divisions: | Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School |
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| Library of Congress Subject Headings (LCSH): | Decision making -- Psychological aspects, Business planning -- Psychological aspects, Executives | ||||||||
| Journal or Publication Title: | California Management Review | ||||||||
| Publisher: | University of California, Berkeley | ||||||||
| ISSN: | 0008-1256 | ||||||||
| Official Date: | 1 May 2017 | ||||||||
| Dates: |
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| Volume: | 59 | ||||||||
| Number: | 3 | ||||||||
| Page Range: | pp. 135-161 | ||||||||
| DOI: | 10.1177/0008125617707973 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||||
| Date of first compliant deposit: | 16 December 2016 | ||||||||
| Date of first compliant Open Access: | 20 June 2017 |
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