Year: 2019
Type: conference-paper
Abstract: In recent years, there has been a need for deeper understanding of the cumulating knowledge in different science disciplines about human emotions in decision making. Indeed, many traditional economic theories operate with the preconception of utility maximization, which partly contradicts with the recent findings in behavioral economics and neurosciences. In other words, science has shown that we can make suboptimal business decisions under the influence of changing emotional states. Moreover, traditional economic literature has often highlighted the strict division between rational decision making and the effective dimensions of the human mind. This conceptual article therefore challenges these conceptions by exploring the dynamic interconnected nature of business decision making and emotions. As a result, we present step-to-step instructions on practical means how to cope with emotions in a turbulent business environment.
Authors: Nikolina Koporcic, Miika Nietola
Institution: Åbo Akademi University
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W2989292645