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|Title: ||An investigation of the effectiveness of choice strategies by elimination : some implications for DSS design|
|Authors: ||Chau, Patrick Y. K.|
Bui, Tung X.
|Keywords: ||Business decision making|
|Issue Date: ||1995 |
|Citation: ||Proceedings of the Third International Conference on Decision Support Systems, Hong Kong, June 22-23, 1995, Hong Kong University of Science and Technology, Hong Kong, 1995, p. 557-570|
|Abstract: ||Comparing alternative choices is common in business decision making. When facing with a selection problem that involves a great number of choice alternatives, decision makers tend to adopt a sequential decision making process that consists of comparing pairs of alternatives, and dropping the least preferred one from consideration until the last one prevails. This study investigates two choice strategies: plan-ahead strategy vs anchoring strategy. A laboratory experiment was conducted and it was found that (1) decision makers did have preference in performing choice by elimination, and (2) those who adopted an "anchoring" approach tended to perform better. Implications of the findings for DSS design are discussed.|
|Appears in Collections:||ISOM Conference Papers|
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