TY - JOUR
T1 - Diagnosing decision quality
AU - Davern, Michael J.
AU - Mantena, Ravi
AU - Stohr, Edward A.
PY - 2008/4
Y1 - 2008/4
N2 - Human decision making is error-prone and often subject to biases. Important information cues are misweighted and feedback delays hamper learning. Experimentally, task information has been shown to be valuable in improving decision making. However, such information is rarely available. Generalizing from lab-based approaches, we present a new field methodology for the "diagnosis of decision quality" (DDQ) that helps decision makers discover such information. We illustrate our approach in the context of hotel revenue management and demonstrate how it can identify context-specific systematic errors in decision making in a manner that facilitates adaptive changes and improved performance.
AB - Human decision making is error-prone and often subject to biases. Important information cues are misweighted and feedback delays hamper learning. Experimentally, task information has been shown to be valuable in improving decision making. However, such information is rarely available. Generalizing from lab-based approaches, we present a new field methodology for the "diagnosis of decision quality" (DDQ) that helps decision makers discover such information. We illustrate our approach in the context of hotel revenue management and demonstrate how it can identify context-specific systematic errors in decision making in a manner that facilitates adaptive changes and improved performance.
KW - Cognitive feedback
KW - Decision quality
KW - Decision support
KW - Human judgment
KW - Revenue management
UR - http://www.scopus.com/inward/record.url?scp=41149097482&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=41149097482&partnerID=8YFLogxK
U2 - 10.1016/j.dss.2007.12.012
DO - 10.1016/j.dss.2007.12.012
M3 - Article
AN - SCOPUS:41149097482
SN - 0167-9236
VL - 45
SP - 123
EP - 139
JO - Decision Support Systems
JF - Decision Support Systems
IS - 1
ER -