Diagnosing decision quality

11 years 5 months ago
Diagnosing decision quality
Human decision making is error-prone and often subject to biases. Important information cues are misweighted and feedback delays hamper learning. Experimentally, task information has been shown to be valuable in improving decision making. However, such information is rarely available. Generalizing from lab-based approaches, we present a new field methodology for the "Diagnosis of Decision Quality" (DDQ) that helps decision makers discover such information. We illustrate our approach in the context of hotel revenue management and demonstrate how it can identify context-specific systematic errors in decision making in a manner that facilitates adaptive changes and improved performance. Keyphrases: Decision quality, Decision support, Human judgment, Cognitive feedback, revenue management. 1
Michael J. Davern, Ravi Mantena, Edward A. Stohr
Added 10 Dec 2010
Updated 10 Dec 2010
Type Journal
Year 2008
Where DSS
Authors Michael J. Davern, Ravi Mantena, Edward A. Stohr
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