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Do managers decide complex investment projects intuitively?

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Author: 
Dipl. ÖkonomRalf Peter Wüstermann
Abstract: 

In the current scientific discussion intuition is mostly assessed normatively and the question will be answered if intuition should be used or not. But as anunconscious process intuition cannot be directed by the decision maker. Therefore, the question if intuition should be used does not occur at all, but one should rather ask how intuition is being used by decision makers. In the present study decision makers were asked how they use their intuition and made their rational decisions in the case of complex investment decisions. With this study it can be shown which forms of decisions decision makers prefer in practice. This study can also show which influence experience has on the use of intuition. To consider the, until now unconsciously intuition into the decision-making process and make it visible for third parties, a procedure is proposed that validate and illustrate transparent the intuitive judgment process.

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