"Decision-makers are often required to make subjective judgments about situations under uncertainty. For example, organizations operating across several countries need to predict currency exchange rates, and need experts to make these predictions using a combination of objective data and subjective judgments. This research program that we call as ‘Improving Judgments Project’ will focus on understanding the underpinnings of individual and group subjective judgments.
We plan to work on three interrelated streams. First, we will look at how individuals’ judgments are influenced by different decision-making frames. Second, we will study the individual-level variation in decision-making that arises from differences in personality traits and emotions. Finally, we will investigate how the judgment quality is influenced in an interpersonal context (both dyadic and group level decision-making).
A theme which will run concurrently with others is the role of cultural differences. Understanding how different cultures shape individuals’ perceptions and judgments is becoming increasingly relevant as businesses move to newer territories. We plan to study the differences that arise between inter-dependent societies (e.g., China, Korea), independent ones (e.g., US), and other emerging markets (e.g., Brazil and India).
With this, we hope to develop a better understanding of how individuals and groups make decisions which will lead us to finding ways towards better managerial decision-making. We have already conducted a successful first phase on several aspects related to this project through which several high-quality publications have been made. One of the highlights of that phase has been the innovative dataset that was collected during the Soccer World Cup 2010. The sports domain provides a perfect setting where rich data can be obtained on how decisions are made under uncertainty and with emotions involved. With World Cup 2014 approaching, a second phase is perfectly timed."
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