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In search of behavioral opportunities from misattributions of luck
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Denrell, Jerker, Fang, Christina and Liu, Chengwei (2019) In search of behavioral opportunities from misattributions of luck. Academy of Management Review, 44 (4). pp. 896-915. doi:10.5465/amr.2017.0239 ISSN 0363-7425.
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Official URL: https://doi.org/10.5465/amr.2017.0239
Abstract
How performance is perceived and attributed has important implications for strategizing. Much research in the cognitive and social sciences suggests that people tend to mistake luck for skill in evaluations and ignore how future performances regress to the mean. We argue that these systematic mistakes can be translated into an alternative source of profit: informed strategists can take advantage of others’ misattributions of luck by exploiting the false expectations and mispricing in strategic factor markets. We also discuss the learning and interdependency barriers that protect, and thus predict the attractiveness of, a behavioral opportunity and suggest approaches to help overcome these behavioral barriers.
| Item Type: | Journal Article | ||||||||
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| Subjects: | B Philosophy. Psychology. Religion > BD Speculative Philosophy B Philosophy. Psychology. Religion > BF Psychology H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HF Commerce H Social Sciences > HM Sociology |
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| 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): | Fortune, Discrimination, Regression (Psychology), Strategic planning, Behaviorism (Psychology) , Decision making, Consumer behavior | ||||||||
| Journal or Publication Title: | Academy of Management Review | ||||||||
| Publisher: | Academy of Management | ||||||||
| ISSN: | 0363-7425 | ||||||||
| Official Date: | October 2019 | ||||||||
| Dates: |
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| Volume: | 44 | ||||||||
| Number: | 4 | ||||||||
| Page Range: | pp. 896-915 | ||||||||
| DOI: | 10.5465/amr.2017.0239 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||||
| Date of first compliant deposit: | 19 February 2019 | ||||||||
| Date of first compliant Open Access: | 21 February 2020 | ||||||||
| Related URLs: |
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