Individual decision styles as predictors for bias susceptibility and bias blind spots in managerial decisions
Journal
Management Research Review
ISSN
2040-8269
ISSN-Digital
2040-8269
Type
journal article
Date Issued
2024-10-28
Author(s)
Editor(s)
Dr Jay Janney; Prof Lerong He.
Abstract
Purpose
This paper aims to managerial decision styles, following the General Decision-Making Style Inventory, as potential predictors of individual bias awareness and bias blind spots, with a focus on the rational decision style.
Design/methodology/approach
The research is based on a survey of 50°C-1 level managers within Forbes 2000 companies. It explores their decision styles and their assessments of their own and others’ decision behavior.
Findings
The results show that the awareness of one’s own susceptibility to biases and bias blind spots is highly dependent on an individual’s (self-declared) decision style and type of cognitive bias; decision-makers with a strong tendency toward a rational or spontaneous decision style see themselves as less vulnerable to cognitive biases but also show a much stronger bias blind spot than those with a tendency toward other decision styles. Meanwhile, decision-makers with a strong tendency toward an intuitive decision style tend to recognize their own vulnerability to cognitive biases and even show a negative blind spot, thus seeing themselves as more affected by cognitive biases than others.
Originality/value
To date, decision styles have not been used as a lens through which to view susceptibility to cognitive biases and bias blind spots in managerial decision-making. As demonstrated in this article, decision styles can serve as predictors of individual awareness and susceptibility to cognitive biases and bias blind spots for managers.
This paper aims to managerial decision styles, following the General Decision-Making Style Inventory, as potential predictors of individual bias awareness and bias blind spots, with a focus on the rational decision style.
Design/methodology/approach
The research is based on a survey of 50°C-1 level managers within Forbes 2000 companies. It explores their decision styles and their assessments of their own and others’ decision behavior.
Findings
The results show that the awareness of one’s own susceptibility to biases and bias blind spots is highly dependent on an individual’s (self-declared) decision style and type of cognitive bias; decision-makers with a strong tendency toward a rational or spontaneous decision style see themselves as less vulnerable to cognitive biases but also show a much stronger bias blind spot than those with a tendency toward other decision styles. Meanwhile, decision-makers with a strong tendency toward an intuitive decision style tend to recognize their own vulnerability to cognitive biases and even show a negative blind spot, thus seeing themselves as more affected by cognitive biases than others.
Originality/value
To date, decision styles have not been used as a lens through which to view susceptibility to cognitive biases and bias blind spots in managerial decision-making. As demonstrated in this article, decision styles can serve as predictors of individual awareness and susceptibility to cognitive biases and bias blind spots for managers.
Language
English (United States)
Keywords
bias
biases
decision making
decision
debiasing
management
decision style
survey
blindspot
HSG Classification
contribution to scientific community
Publisher
Emerald
Publisher place
England
Subject(s)
Division(s)