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1	A behavioural multi-criteria decision making framework for corporate climate change response Chinoda, Muriel January 2013 (has links) The understanding that humans are bounded in their rationality has been proven to manifest in complex decision making as a result of a limit in the amount of information available, the cognitive limitations of the mind and the amount of time available in which to make a decision. Because of this, humans have been known to appeal to heuristics and the rules of thumb (termed 'satisficing‘) when making decisions, resulting in biased probability judgments and not maximizing expected utility. Corporate application of bounded rationality is still very limited. This study builds on and advances the study and application of bounded rationality in corporate environments, using climate change response as a real-life situation, and in a circular fashion help explain some of the debates and paradoxes that agitate researchers from the climate change community. Using a mixed methods comparative case study of two organisations‘ responses to climate change, the study theorises that competitive market forces and the ability of organisations to learn from other organisations limits the levels of 'satisficing‘ in strategic decision making. Instead, the limited amount of information and the fear of the unknown cause organizations to approach the subject cautiously. A tactical interpretive climate change response framework emerges. / Business Management / D.B.L. Behavioural finance Behavioural economics Behavioural strategy Decision making Climate change response framework Bounded rationality Multi-criteria decision analysis (MCDA) Heuristics and biases Satisficing 658.403 Organizational change -- Management Change -- Management Strategic planning Corporate governance Industrial management Organizational behavior Corporate culture Decision making

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A behavioural multi-criteria decision making framework for corporate climate change response