Journal article
Romantics, mercenaries and behavioral rationality
- Abstract:
- Behavioral decision research focuses on cognitive biases and other barriers to economic rationality. However, if cognitive biases are costly to eliminate, the second-best solution to bounded rationality may be less rationality rather than more. I define the concept of behavioral rationality and discuss two extreme forms of strategizing, which I call Romantic and Mercenary. Using 20th century humanitarian Albert Schweitzer as a case study, I discuss the optimization of economic and behavioral rationality. I argue that the success of behavioral strategy as a field does not depend on removing cognitive biases but on helping people deliver more effective strategic actions.
- Publication status:
- Published
- Peer review status:
- Peer reviewed
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- Files:
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(Preview, Accepted manuscript, pdf, 307.8KB, Terms of use)
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- Publisher copy:
- 10.1108/S0742-332220180000039011
Authors
- Publisher:
- Emerald Publishing
- Journal:
- Advances in Strategic Management More from this journal
- Volume:
- 39
- Pages:
- 151 - 165
- Publication date:
- 2018-09-21
- Acceptance date:
- 2018-03-09
- DOI:
- ISSN:
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0742-3322
- Pubs id:
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pubs:829562
- UUID:
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uuid:a14556d8-8131-4e4b-bf39-146cb9a12489
- Local pid:
-
pubs:829562
- Source identifiers:
-
829562
- Deposit date:
-
2018-03-14
- ARK identifier:
Terms of use
- Copyright holder:
- Emerald Publishing Limited
- Copyright date:
- 2018
- Notes:
- © Copyright 2018 Emerald Publishing Limited. This is the accepted manuscript version of the article. The final version is available online from Emerald at: https://www.emeraldinsight.com/doi/full/10.1108/S0742-332220180000039011
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