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Chloe Xu, Director, Australia
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🔥 NEW Most of us believe that we stay rational when deciding upon some news we received. However, Staats, KC and Gino (2018) argue that experience affects an individual's response to negative news, and thus influences decision-making.
The impact of experience on decision making when receiving bad news. Research findings
The researchers conducted a field study and two lab studies to understand how people update their beliefs when receiving bad news. Their main findings include:
- People change their views after hearing negative news.
- Experience determines the likelihood of an individual to change his/her mind about a decision made. To be specific, individuals who think they have more experience are less likely to change their mind than those who think they have less experience.
- Peer experience influences individuals' update on belief. Individuals surrounded by more experienced peers are more likely to stick to their previous decision - even confronted wi (...) Read more? Sign up for free
27-10-2020
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Jaap de Jonge, Editor, Netherlands
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Reasons Why Experience is not Always an Asset on Decision-Making
Thanks Chloe for sharing this research. To learn s (...)
28-10-2020
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John Henry, Project Manager, United States
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Learning from Experience
Experience is an excellent teacher as long as you (...)
13-11-2020
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Maurice Hogarth, Consultant, United Kingdom
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Repetitive versus Cumulative Experience
@:Agreed.
Many people determine that their experi (...)
13-11-2020
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Jaap de Jonge, Editor, Netherlands
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A Learning Attitude Protects Us Against Misusing our Experience
@: I agree that experience is normally valuable in (...)
17-11-2020
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John Henry, Project Manager, United States
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The Importance of Experience, is Indeed, Learning from It
If you use your experience as an excuse, you have (...)
17-11-2020
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Sashi Rao, Management Consultant, India
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Lateral Thinking and Out of Box Thinking Does Help
I agree that experience does not always result in (...)
18-11-2020
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John Henry, Project Manager, United States
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How Decision Makers Should be Informed
Should seasoned decision makers really listen to i (...)
18-11-2020
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Paul Adlai Scavella, Coach
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Experience Has its Pros and Cons
Experience is necessary but has to be used appropr (...)
20-11-2020
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John Prendergast, Management Consultant, United Kingdom
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Building Confidence and a Learning Environment with Experience
@: I agree it is important to engage junior, new, (...)
20-11-2020
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Sreejith
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Experience is a Conjugated Interplay of Learning & Unlearning
Removed by Editor to keep 1 (...)
20-11-2020
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More on Analogical Strategic Reasoning
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Summary
| Experience is not Always an Asset on Decision-Making |
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Special Interest Group Leader
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