On the use of regression and verbal protocol analysis in modeling analysts' behavior in an unstructured task environment: A methodological note

Anderson, Matthew; Potter, Gordon

doi:10.1016/s0361-3682(98)00001-4

Cited by 8 publications

(6 citation statements)

References 29 publications

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“…Verbal protocol analysis has been widely used in other areas of social sciences for analyzing individual decision-making processes (Isenberg, 1986;Anderson and Potter, 1998). Despite its powerful research capability, there are only two papers (Gavirneni and Isen, 2010;Cui et al, 2013) using this methodology in operations management, as individual behaviors are usually not the focus of traditional operations management research.…”

Section: Experiments and Verbal Protocol Analysismentioning

confidence: 99%

Human Behavior in Newsvendor Decisions: A Comparative Study with Experimental Results

Kwak¹

2015

Management Science and Financial Engineering

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As decision makers do not make optimal decisions in practice despite the existence of optimal solutions in many models, there has been a rising interest in behavioral operations management recently. In this study, we aim for a comparative study to analyze the inventory decisions in Korea, America, and China, by conducting the same newsvendor experiment in Korea and compare the results with those of previous studies. From the comparative analysis, some national characteristics in decision-making processes have been observed but there is lowly significant difference in order quantities among the three groups. Korean students show lower level of understanding in demand distributions and tendencies of anchoring on the mean demand and being risk-averse. The finding that individuals make their own decisions differently based on their different behaviors suggests that we need to consider individual approach in analyzing human decision-making processes rather than adapting aggregate approach.

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Section: Experiments and Verbal Protocol Analysismentioning

confidence: 99%

Human Behavior in Newsvendor Decisions: A Comparative Study with Experimental Results

Kwak¹

2015

Management Science and Financial Engineering

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“…This research follows on from the work of Bouwman (1983Bouwman ( , 1984Bouwman ( , 1987Bouwman ( , 1995, Cocks and Iselin (1991) and Anderson and Potter (1998). Bouwman's research suggests that the knowledge bases of expert portfolio managers contain at least six types of knowledge: 1.…”

Section: Introductionmentioning

confidence: 99%

“…Consequently, company templates must be studied before these other three. This paper, together with Bouwman (1983Bouwman ( , 1984Bouwman ( , 1987Bouwman ( , 1995, Cocks and Iselin (1991), and Anderson and Potter (1998) constitute a multimethod investigation of portfolio managers' knowledge bases. Gibbins and Swieringa (1995) discuss the importance and usefulness of multimethod research.…”

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confidence: 99%

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The corporate memory structure of expert portfolio managers: a multi-trial free recall study

Cocks¹,

Iselin²,

Sharma³

2001

Accounting Forum

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This research studied the memory structures for company information of twelve expert investment portfolio managers. These memory structures are important because they influence equity portfolio selection decisions worth billions of dollars. The structures have relevance to accounting and finance in that they should influence (1) the information accountants provide, (2) accounting and finance education, and (3) expert systems for investment portfolio management. Based on theory and an exploratory study, nine hypotheses were developed. These were tested in a multi-trial free recall study. The research results showed that both expert portfolio managers and novices clustered their recall. The experts had higher clustering scores initially, but the novices' scores increased at a faster rate over the trials. The experts used two schematic and four unidimensional bases of categorisation to assist in equity portfolio selection. Of these, industrial schemata seem to dominate in their memory structures. The experts used these industrial schemata to assist their recall. They do not, however, simply adopt the stock exchange's industrial categories. They tend to lead rather than follow the exchange. While the experts used industrial schemata to facilitate recall, novices used more trivial bases. These findings supported all of the research hypotheses. Finally, the paper considers the implications of the findings for future research and accounting and finance practice.

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“…When personal and situational goals coincide, when the choice context is familiar and when the decision maker has sufficient experience, the same attributes tend to be both determinant and relevant (Anderson & Potter, 1998;Harte & Koele, 1995;Harte, Koele, & Van Engelenburg, 1996;Wedel, Vriens, Bijmolt, Krijnen, & Leeflang, 1998). In many instances the semantic and conceptual confusion in attitude measurement (Myers & Alpert, 1977) has no practical consequences, and stated attribute relevance may explain consumer choice satisfactorily.…”

Section: Divergence Between Relevance and Determinancementioning

confidence: 99%

Sustainable consumption and marketing

Dam¹

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On the use of regression and verbal protocol analysis in modeling analysts' behavior in an unstructured task environment: A methodological note

Cited by 8 publications

References 29 publications

Human Behavior in Newsvendor Decisions: A Comparative Study with Experimental Results

Human Behavior in Newsvendor Decisions: A Comparative Study with Experimental Results

The corporate memory structure of expert portfolio managers: a multi-trial free recall study

Sustainable consumption and marketing

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