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Decision-Making under Stress and Its Implications for Managerial Decision-Making: A Review of Literature

Author

Listed:
  • Kubilay Gok

    (Department of Business Administration, Winona State University, USA.)

  • Nuray Atsan

    (Faculty of Economics and Administrative Sciences, Department of Business Administration, Akdeniz University, Antalya/TURKEY.)

Abstract

We examine the main theoretical models of decision making under stress and the effects of decision stress on decision making process to provide a deeper understanding of the decision making phenomenon. The literature review reveals that stress can have an impact on each stage of the decision-making process. The review also finds that decision makers could enhance their decision-making performance and prevent potential decision failures by means of adapting certain coping strategies.

Suggested Citation

  • Kubilay Gok & Nuray Atsan, 2016. "Decision-Making under Stress and Its Implications for Managerial Decision-Making: A Review of Literature," International Journal of Business and Social Research, LAR Center Press, vol. 6(3), pages 38-47, March.
    • Handle: RePEc:lrc:larijb:v:6:y:2016:i:3:p:38-47
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    File URL: http://thejournalofbusiness.org/index.php/site/article/view/936/593
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    References listed on IDEAS

    as
    1. Rothstein, Howard G., 1986. "The effects of time pressure on judgment in multiple cue probability learning," Organizational Behavior and Human Decision Processes, Elsevier, vol. 37(1), pages 83-92, February.
    2. Young, Diana L. & Goodie, Adam S. & Hall, Daniel B. & Wu, Eric, 2012. "Decision making under time pressure, modeled in a prospect theory framework," Organizational Behavior and Human Decision Processes, Elsevier, vol. 118(2), pages 179-188.
    3. Payne, John W. & Bettman, James R. & Luce, Mary Frances, 1996. "When Time Is Money: Decision Behavior under Opportunity-Cost Time Pressure," Organizational Behavior and Human Decision Processes, Elsevier, vol. 66(2), pages 131-152, May.
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    More about this item

    Keywords

    Decision-failures; decision making process; decision-making under stress; threat-rigidity.;
    All these keywords.

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

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