Aspiration uncertainty: Its impact on decision performance and process

W. Bentley MacLeod; Mark Pingle

doi:10.1016/j.jebo.2004.04.003

Aspiration uncertainty: Its impact on decision performance and process

W. Bentley MacLeod, Mark Pingle

Research output: Contribution to journal › Article › peer-review

8 Scopus citations

Abstract

We explore how a discrete change in the level of "aspiration uncertainty" affects the quality of a decision and the willingness to search for an improved decision. We find knowing what is attainable improves decision performance, especially when luck places the decision-maker near the optimal choice early in the search process. However, knowing what is attainable hampers performance when the complexity of the problem makes an improved choice difficult to find, for knowing what is attainable teases the decision-maker into over-utilizing decision resources. Differences in the propensity to search are independent of the level of aspiration uncertainty.

Original language	English (US)
Pages (from-to)	617-629
Number of pages	13
Journal	Journal of Economic Behavior and Organization
Volume	56
Issue number	4 SPEC. ISS.
DOIs	https://doi.org/10.1016/j.jebo.2004.04.003
State	Published - Apr 2005
Externally published	Yes

All Science Journal Classification (ASJC) codes

Economics and Econometrics
Organizational Behavior and Human Resource Management

Keywords

Aspiration uncertainty
Decision resources
Decision-maker

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10.1016/j.jebo.2004.04.003

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AB - We explore how a discrete change in the level of "aspiration uncertainty" affects the quality of a decision and the willingness to search for an improved decision. We find knowing what is attainable improves decision performance, especially when luck places the decision-maker near the optimal choice early in the search process. However, knowing what is attainable hampers performance when the complexity of the problem makes an improved choice difficult to find, for knowing what is attainable teases the decision-maker into over-utilizing decision resources. Differences in the propensity to search are independent of the level of aspiration uncertainty.

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KW - Decision resources

KW - Decision-maker

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JF - Journal of Economic Behavior and Organization

IS - 4 SPEC. ISS.

ER -

Aspiration uncertainty: Its impact on decision performance and process

Abstract

All Science Journal Classification (ASJC) codes

Keywords

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