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Judgment in Managerial Decision Making [Hardcover]

by Max H. Bazerman, Don A. Moore
4.8 out of 5 stars  See all reviews (12 customer reviews)

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Judgment in Managerial Decision Making Judgment in Managerial Decision Making 3.8 out of 5 stars (8)
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Book Description

August 18, 2008 0470049456 978-0470049457 7
Behavioral decision research has developed considerably over the past 25 years, and now provides important insights into managerial behavior. Bazerman & Moore’s Judgment in Managerial Decision Making, 7th edition embeds behavioral decision research into the organizational realm by examining judgment in a variety of managerial contexts.

This book includes information that is useful for anyone seeking further information on improving his or her judgment and decision making. Throughout, you’ll find numerous hands-on decision exercises and examples from the author's extensive executive training experience that will help you improve the quality of your managerial judgment.

Editorial Reviews

From the Back Cover

The insights you need to become a better decision-maker
Become a better decision-maker
How to overcome your biases and make better decisions
The tools to become a better decision-maker and a better manager

When faced with a decision, we all believe we’re weighing the facts objectively and making rational, thoughtful decisions. In fact, science tells us that in situations requiring careful judgment, every individual is influenced by his or her own biases to some extent. Drawing on the very latest behavioral decision research, Judgment in Managerial Decision Making, Seventh Edition examines judgment in a variety of managerial contexts and provides important insights that can help you make better managerial decisions.

Widely-recognized by practitioners and academics in fields ranging from behavioral finance to public policy, psychology, and economics, this Seventh Edition of the classic text:

  • Discusses the motivational and emotional influences that effect decision making
  • Delves into the fairness and ethics involved in the decision-making process
  • Integrates numerous hands-on decision exercises and examples that will help readers enhance the quality of their managerial judgment
  • Provides tips and techniques on how to make rational decisions during negotiations
  • Presents seven critical strategies for improving decision making

For psychologists, the book outlines a systematic framework for using psychological findings to improve judgment. For the economist, the book suggests a critique of the clas­sic economic model of decision making. Most of all, however, for every manager or financial decision maker, this book offers a clear path to better decisions.

About the Author

Max H. Bazerman is the Jesse Isidor Straus Professor of Business Administration at the Harvard Business School. In addition, Max is also formally affiliated with the Kennedy School of Government, the Psychology Department, and the Program on Negotiation at Harvard. He is the author or co-author of over 150 research articles and chapters, and the author of numerous other books. Professor Bazerman was named one of the top 30 authors, speakers, and teachers of management by Executive Excellence in each of their two most recent rankings.

Don Moore is an Associate Professor of Organizational Behavior at Carnegie Mellon University¹s Tepper School of Business, and holder of the Carnegie Bosch Faculty Development chair.  Don is also formally affiliated with CMU's Department of Social and Decision Sciences, and he is the founding director of the Center for Behavioral Decision Research.  He received his Ph.D. in Organization Behavior from Northwestern University.

Product Details

  • Hardcover: 230 pages
  • Publisher: Wiley; 7 edition (August 18, 2008)
  • Language: English
  • ISBN-10: 0470049456
  • ISBN-13: 978-0470049457
  • Product Dimensions: 9.1 x 6 x 0.6 inches
  • Shipping Weight: 12.8 ounces
  • Average Customer Review: 4.8 out of 5 stars  See all reviews (12 customer reviews)
  • Amazon Best Sellers Rank: #89,621 in Books (See Top 100 in Books)

More About the Author

Max H. Bazerman
Jesse Isidor Straus Professor of Business Administration

In addition to being the Straus Professor at the Harvard Business School, Max is formally affiliated with the Kennedy School of Government, the Psychology Department, and the Program on Negotiation.

Max's research focuses on decision making in negotiation, and improving decision making in organizations, nations, and society. He is the author, co-author, or co-editor of eighteen books (including Negotiation Genius [with Deepak Malhotra], Bantam Books, September 2007) and over 200 research articles and chapters. He is a member of the editorial boards of the American Behavioral Scientist, Journal of Management and Governance, Mind and Society, Negotiations and Conflict Management Research, and The Journal of Behavioral Finance. Also, he is a member of the international advisory board of the Negotiation Journal.

From 2002-2008, Max was consistently named one of the top 40 authors, speakers, and teachers of management by Executive Excellence. He was 'Teacher of the Year' by the Executive Masters Program of the Kellogg School. In 2003, Max received the Everett Mendelsohn Excellence in Mentoring Award from Harvard University's Graduate School of Arts and Sciences. In 2006, Max received an honorary doctorate from the University of London (London Business School), the Kulp-Wright Book Award from the American Risk and Insurance Association for Predictable Surprises (with Michael Watkins), and the Life Achievement Award from the Aspen Institute's Business and Society Program. In 2008, Max was named as Ethisphere's 100 Most Influential in Business Ethics, was named one of Daily Kos' Heroes from the Bush Era for going public about how the Bush Administration corrupted the RICO Tobacco trial, received the International Institute of Conflict Prevention and Resolution (CPR) Outstanding Book Award, and received the Distinguished Educator Award from the Academy of Management.
His former doctoral students have accepted positions at leading business schools throughout the United States, including the Kellogg School at Northwestern, the Fuqua School at Duke, the Johnson School at Cornell, Carnegie-Mellon University, Stanford University, the University of Chicago, Notre Dame, Columbia, and the Harvard Business School.

His professional activities include projects with Abbott, Aetna, Alcar, Alcoa, Allstate, Ameritech, Amgen, Apax Partners, Asian Development Bank, AstraZeneca, AT&T, Aventis, BASF, Bayer, Becton Dickenson, Biogen, Boston Scientific, BP, Bristol-Myers Squibb, Business Week, Celtic Insurance, Chevron, Chicago Tribune, City of Chicago, Deloitte and Touche, Dial, Ernst and Young, First Chicago, Gemini Consulting, General Motors, Harris Bank, Home Depot, Hyatt Hotels, IBM, John Hancock, Johnson & Johnson, Kohler, KPMG, Lucent, The May Company, McKinsey, Medtronics, Merrill Lynch, Monitor, Motorola, National Association of Broadcasters, Nordstjernen, Pfizer, PriceWaterhouseCoopers, R. P. Scherer, Sara Lee, Siemens, Sprint, Sulzermedica, Synergen, The Nature Conservancy, Unicredito, Union Bank of Switzerland, Wilson Sporting Goods, Xerox, Young Presidents Organization, World Bank and Zurich Insurance.

Max's consulting, teaching, and lecturing includes work in Argentina, Australia, Austria, Barbados, Belgium, Brazil, Canada, Chile, Costa Rica, Ecuador, France, India, Ireland, Israel, Italy, Malaysia, the Netherlands, Peru, the Philippines, Puerto Rico, Singapore, South Africa, South Korea, Sweden, Switzerland, Thailand, and the UK.

Customer Reviews

4.8 out of 5 stars
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Most Helpful Customer Reviews
12 of 12 people found the following review helpful
5.0 out of 5 stars Best primer on biases in decision making January 15, 2012
By Jackal
Everyone who makes decisions should read this book if you are not familiar with the themes (read the table of contents). Despite being a university textbook it is quite readable if you are serious about picking up knowledge of how human decision making is biased in various ways. I especially like that the author is not pandering to bored or lazy undergraduate students. So you certainly do not have to be a student to benefit from the book. This book is also useful if you are a researcher that would like to read up on the field. In addition you get all the relevant references. I own edition 6 and that is totally sufficient and the changes to edition 7 are small. However, if you are a researcher you might want the latest edition for the updated references.

Since the relatively short book covers a lot of ground some people might not like it. A good alternative would be Thinking, Fast and Slow, which covers less material in a larger number of pages. Some might consider that book more readable, but personally I prefer the current books more concise presentation. Still I would recommend that book as a second reading on the subject. I would also read something by Gigerenzer (Adaptive Thinking: Rationality in the Real World (Evolution and Cognition) or Rationality for Mortals: How People Cope with Uncertainty (Evolution and Cognition)), who has a broader view of what is rational behaviour.

These are my recommendations, but note that I am not an expert in the field so there might be better books out there.
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1 of 1 people found the following review helpful
5.0 out of 5 stars Thought-provoking!!, June 27, 2013
Format:Hardcover|Verified Purchase
The book is an excellent analysis of the integrative bases of decision making. Highly thought-provoking. A real
exploration in why we do what we do and impact of integrated decision.
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1 of 1 people found the following review helpful
5.0 out of 5 stars Splendid book! June 18, 2013
Format:Hardcover|Verified Purchase
A book to use thru all your life. concise, educational, with good cases and application on life. Buy it from Amazon was easy and fast!
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5.0 out of 5 stars Derived benefit from reading this August 17, 2013
By matthew
Format:Hardcover|Verified Purchase
This book came recommended by Daniel Kahneman. He is someone that I admire greatly. I have recommended this book many times, but each time I refuse to lend it out. Must have in my library. I can look at this book in the shelf of my library and remember some of the content that is in here and still apply it to my day to days.
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5.0 out of 5 stars Good book May 11, 2013
By AruAyu
Format:Hardcover|Verified Purchase
Good book highly recommended for all the managers and leaders of today's global environment where right decision on right time is essential
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5.0 out of 5 stars Great overall negotiation text December 5, 2012
Format:Hardcover|Verified Purchase
For someone interested in negotiation, this is an academic text, but it's relatively easy to read. It has plenty of accessible, practical examples, and it has a lot of information that you can share with others professionally. Compared to other negotiation texts I've read, this is probably my favorite.
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