Newly published research from California Management Review is now online! We invite you to view all of the Online First articles for CMR by clicking here, that hosts articles covering a variety of topics such as corporate misconduct, competitive strategy, and benefits of minority stake strategies.
One article in particular, “Strategizing with Biases: Making Better Decisions Using the Mindspace Approach,” co-authored by Chengwei Liu, Ivo Vlaev, Christina Fang,
Jerker Denrell, and Nick Chater focuses on Mindspace when it is applied to strategic decision making. The complete abstract for the article is below:
This article introduces strategists to the Mindspace framework and explores its applications in strategic contexts. This framework consists of nine effective behavioral interventions that are grounded in public policy applications, and it focuses on how changing the context can be more effective than attempts to de-bias decision makers. Behavioral changes are likely when we follow rather than fight human nature. Better decisions can be achieved by engineering choice contexts to “engage a bias” to overcome a more damaging bias. This article illustrates how to engineer strategic contexts through two case studies and outlines directions and challenges when applying Mindspace to strategic decisions.
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