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Randomisation as a tool for organisational decision-making: a debatable or debilitating proposition?

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  • Gary Dushnitsky
  • J.P. Eggers
  • Chiara Franzoni
  • Florenta Teodoridis

Abstract

The role of experts has been called into question recently. Scholarly works debate whether expert judgement is given excessive reliance on innovation, science, and entrepreneurial decision-making. Increasingly, there are arguments that managers, founders, and funders would be better off relying on randomisation to a much higher degree. This article sheds light on the integration of randomisation in decision-making, presenting the pros and cons of expert advice, on the one hand, and randomisation, on the other hand. The discussion goes beyond the Expert – Randomisation dichotomy and lays the foundation for thinking about decision-making in the modern era, and specifically the role of Artificial Intelligence. This Version: 5 November 2023

Suggested Citation

  • Gary Dushnitsky & J.P. Eggers & Chiara Franzoni & Florenta Teodoridis, 2023. "Randomisation as a tool for organisational decision-making: a debatable or debilitating proposition?," Industry and Innovation, Taylor & Francis Journals, vol. 30(10), pages 1275-1293, November.
    • Handle: RePEc:taf:indinn:v:30:y:2023:i:10:p:1275-1293
    DOI: 10.1080/13662716.2023.2281983
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