Publications

Authors:

Tommasi, Francesco; Sartori, Riccardo; Bollarino, Sara; Ceschi, Andrea

Title:

Quick-witted Entrepreneurs vs Systematic Managers: A Comparative Analysis of Decision-Making Competence

Year:

2023

Type of item:

Articolo in Rivista

Tipologia ANVUR:

Articolo su rivista

Language:

Inglese

Referee:

Sì

Name of journal:

EVIDENCE-BASED HRM

ISSN of journal:

2049-3991

Page numbers:

1-39

Keyword:

Entrepreneurs; Managers; Decision-Making Competence; Overconfidence; Sunk-Cost Fallacy; Risk perception.

Short description of contents:

Decision-making competence (DMC) of entrepreneurs and managers is a longstanding important topic in our increasingly globalized world. Entrepreneurs and managers operate in conditions not within their own control, and good levels of DMC are often considered to be desirable for the flourishing of business and society. This paper reports an empirical investigation on the DMC of entrepreneurs and managers, in an attempt to inform about their tendencies to incur in risky and costly choices. Approach and method: We considered three cognitive biases associated with operational strategies and individual characteristics of entrepreneurs and managers, namely under/overconfidence (UOC, i.e., self-confidence in taking decisions), resistance to sunk costs (RSC, i.e., propensity to take cost investments) and consistency in risk perception (CRP, i.e., how well individuals understand probability rules). Cognitive biases measures were used in a crosssectional study on a sample of n = 639 entrepreneurs and n = 512 managers. Data collected via online survey were analyzed using descriptive statistics and inferential statistics to determine differences among entrepreneurs and managers

Product ID:

134776

Handle IRIS:

11562/1100166

Last Modified:

July 23, 2023

Bibliographic citation:

Tommasi, Francesco; Sartori, Riccardo; Bollarino, Sara; Ceschi, Andrea, Quick-witted Entrepreneurs vs Systematic Managers: A Comparative Analysis of Decision-Making Competence «EVIDENCE-BASED HRM» , 2023 , pp. 1-39

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