Please use this identifier to cite or link to this item: https://scidar.kg.ac.rs/handle/123456789/13325
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dc.rights.licenseBY-NC-ND-
dc.contributor.authorNikolić, Jelena-
dc.date.accessioned2021-06-16T09:19:58Z-
dc.date.available2021-06-16T09:19:58Z-
dc.date.issued2018-
dc.identifier.issn1450-863Xen_US
dc.identifier.urihttps://scidar.kg.ac.rs/handle/123456789/13325-
dc.description.abstractStarting from the normative approach, a decision as the outcome of the decision-making process should represent a rational choice made by a completely informed decision-maker. With the development of the behavioral perspective of the decision-making process, certain mistakes in decision-makers’ behavior have been noticed, emerging as a consequence of their limited cognitive capacities and the information asymmetry. The application of heuristics as simplified mental strategies, as well as certain deformations in decision-makers’ thinking and perception, leads to the different biases that affect their attitudes and approach to problem solving. The aim of the research study is reflected in identifying the biases that most often occur in the decision-making process, as well as their causes and consequences. The qualitative methodology of the research has been applied in parallel with the relevant methods of analysis and synthesis, deduction and induction. On the basis of the conducted empirical studies, the recommendations for overcoming biases have been defined, which represents the main result of the research study. The derived conclusions with respect to the possibilities of overcoming biases can help decision-makers to improve the decision-making process in real situations.en_US
dc.language.isoenen_US
dc.publisherFaculty of Economics, University of Kragujevac, Kragujevac, The Republic of Serbiaen_US
dc.rightsopenAccess-
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/-
dc.sourceEkonomski horizontien_US
dc.subjectdecision-making processen_US
dc.subjectdecision-makersen_US
dc.subjectbounded rationalityen_US
dc.subjectmental strategiesen_US
dc.subjectbiasesen_US
dc.titleBiases in the decision-making process and possibilities of overcoming themen_US
dc.typearticleen_US
dc.description.versionPublisheden_US
dc.identifier.doi10.5937/ekonhor1801045Nen_US
dc.type.versionPublishedVersionen_US
Appears in Collections:Faculty of Economics, Kragujevac

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