Diagnosing decision quality

Michael J. Davern, Ravi Mantena, Edward A. Stohr

Research output: Contribution to journalArticlepeer-review

23 Scopus citations

Abstract

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.

Original languageEnglish
Pages (from-to)123-139
Number of pages17
JournalDecision Support Systems
Volume45
Issue number1
DOIs
StatePublished - Apr 2008

Keywords

  • Cognitive feedback
  • Decision quality
  • Decision support
  • Human judgment
  • Revenue management

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