Management Research: Heuristics as Biases

Hello everybody

 

In today's episode, I talk about the approach by Kahneman, Tversky and their followers. They approach System 1 thinking (i.e. heuristics) as biases. In all their research, they focus on how System 1 thinking does not allow System 2 thinking (i.e. analytic approach) to work properly. It is a prevalent approach and is dominating in the field of behavioural economics, behavioural finance, and strategic management. In the next episode, I will talk about the opposite approach. But for now, enjoy this short episode about heuristics as biases!

 

Faithfully

Eugene (Yevgen)