2,621
Views
29
CrossRef citations to date
0
Altmetric
Original Articles

Modelling Bounded Rationality in Organizations: Progress and ProspectsFootnote

, , &

References

  • (Note: Contributions are coded for model families for easy reference: BA = Multi-armed Bandit Model, NK = NK model; MA = Mutual Adjustment Model; IA = Information Aggregation model)
  • Adner, R., Polos, L., Ryall, M., & Sorenson, O. (2009). The case for formal theory. Academy of Management Review, 34(2), 201–208. doi: 10.5465/AMR.2009.36982613
  • Aldrich, H. (1979). Organizations and environments. Stanford, CA: Stanford University Press.
  • Almirall, E., & Casadesus-Masanell, R. (2010). Open versus closed innovation: A model of discovery and divergence. Academy of Management Review, 35(1), 27–47. (NK) doi: 10.5465/AMR.2010.45577790
  • Argote, L. (2012). Organizational learning: Creating, retaining and transferring knowledge. New York, NY: Springer.
  • Ariely, D., Loewenstein, G., & Prelec, D (2003). Coherent arbitrariness: Stable demand curves without stable preferences. Quarterly Journal of Economics, 118(1), 73–106. (NK) doi: 10.1162/00335530360535153
  • Arthur, W. B. (1991). Designing economic agents that act like human agents: A behavioral approach to bounded rationality. The American Economic Review, 81(2), 353–359. (BA)
  • Badre, D., Doll, B. B., Long, N. M., & Frank, M. J. (2012). Rostrolateral prefrontal cortex and individual differences in uncertainty-driven exploration. Neuron, 73(3), 595–607. (BA) doi: 10.1016/j.neuron.2011.12.025
  • Bandura, A. (1977). Social learning theory. Oxford: Prentice-Hall. (MA)
  • Bechara, A., Damasio, H., Tranel, D., & Damasio, A. R. (1997). Deciding advantageously before knowing the advantageous strategy. Science, 275(5304), 1293–1295. (BA) doi: 10.1126/science.275.5304.1293
  • Billinger, S., Kretschmer, T., Schumacher, T. R., & Stieglitz, N. (2015). Searching in teams: An experimental study of aggregation and incentives (Working Paper). Frankfurt School of Finance & Management. (NK)
  • Billinger, S., Stieglitz, N., & Schumacher, T. R. (2014). Search on rugged landscapes: An experimental study. Organization Science, 25(1), 93–108. (NK) doi: 10.1287/orsc.2013.0829
  • Blanco, F., Matute, H., & Vadillo, M. (2011). Making the uncontrollable seem controllable: The role of action in the illusion of control. The Quarterly Journal of Experimental Psychology, 64(7), 1290–1304. doi: 10.1080/17470218.2011.552727
  • Bloom, N., Eifert, B., Mahajan, A., McKenzie, D., & Roberts, J. (2013). Does management matter? Evidence from India. The Quarterly Journal of Economics, 128(1), 1–51. doi: 10.1093/qje/qjs044
  • Blount, S. (1995). When social outcomes aren′ t fair: The effect of causal attributions on preferences. Organizational Behavior and Human Decision Processes, 63(2), 131–144. (NK) doi: 10.1006/obhd.1995.1068
  • Blume, A., Duffy, J., & Franco, A. M. (2009). Decentralized organizational learning: An experimental investigation. American Economic Review, 99(4), 1178–1205. (MA) doi: 10.1257/aer.99.4.1178
  • Bohnet, I., & Zeckhauser, R. (2004). Trust, risk and betrayal. Journal of Economic Behavior & Organization, 55(4), 467–484. (MA) doi: 10.1016/j.jebo.2003.11.004
  • Brand, H., Sakoda, J. M., & Woods, P. J. (1957). Effects of a random versus pattern reinforcement instructional set in a contingent partial reinforcement situation. Psychological Reports, 3(3), 473–479. (BA) doi: 10.2466/pr0.1957.3.3.473
  • Brand, H., Wood, P. J., & Sakoda, J. M. (1956). Anticipation of reward as a function of partial reinforcement. Journal of Experimental Psychology, 52(1), 18–22. (BA) doi: 10.1037/h0045510
  • Brown, S. L., & Eisenhardt, K. M. (1997). The art of continuous change: Linking complexity theory and time-paced evolution in relentlessly shifting organizations. Administrative Science Quarterly, 42(1), 1–34. doi: 10.2307/2393807
  • Busemeyer, J. R., & Myung, I. J. (1987). Resource allocation decision making in an uncertain environment. Acta Psychologica, 66(1), 1–19. (NK) doi: 10.1016/0001-6918(87)90015-1
  • Busemeyer, J. R., Swenson, K. N., & Lazarte, A. (1986). An adaptive approach to resource allocation. Organizational Behavior and Human Decision Processes, 38(3), 318–341. (NK) doi: 10.1016/0749-5978(86)90004-X
  • Bush, R. R., & Mosteller, F. (1955). Stochastic models for learning. Oxford: John Wiley. (BA)
  • Camerer, C. F. (2003). Behavioral game theory: Experiments in strategic interaction. Princeton, NJ: Princeton University Press.
  • Camerer, C. F., & Ho, T. (1999). Experience-weighted attraction learning in normal form games. Econometrica, 67(4), 827–874. (BA) doi: 10.1111/1468-0262.00054
  • Carley, K. (1992). Organizational learning and personnel turnover. Organization Science, 3(1), 20–46. doi: 10.1287/orsc.3.1.20
  • Christensen, M., & Knudsen, T. (2010). Design of decision-making organizations. Management Science, 56(1), 71–89. (IA) doi: 10.1287/mnsc.1090.1096
  • Christensen, M., & Knudsen, T. (2013). Confidence and joint learning (Working Paper). University of Southern Denmark.
  • Claussen, J., Kretschmer, T., & Stieglitz, N. (in press). Vertical scope, turbulenc e, and the benefits of commitment and flexibility. Management Science.
  • Cohen, M. D., March, J. G., & Olsen, J. P. (1972). A garbage can model of organizational choice. Administrative Science Quarterly, 17(1), 1–25. doi: 10.2307/2392088
  • Csaszar, F. A. (2012). Organizational structure as a determinant of performance: Evidence from mutual funds. Strategic Management Journal, 33(6), 611–632. (IA) doi: 10.1002/smj.1969
  • Csaszar, F. A. (2013). An efficient frontier in organization design: Organizational structure as a determinant of exploration and exploitation. Organization Science, 24(4), 1083–1101. (IA) doi: 10.1287/orsc.1120.0784
  • Csaszar, F. A., & Eggers, J. P. (2013). Organizational decision making: An information aggregation view. Management Science, 59(10), 2257–2277. (IA) doi: 10.1287/mnsc.1120.1698
  • Csaszar, F. A., & Siggelkow, N. (2010). How much to copy? Determinants of effective imitation breadth. Organization Science, 21(3), 661–676. (NK, MA) doi: 10.1287/orsc.1090.0477
  • Cyert, R. M., & March, J. G. (1963). A behavioral theory of the firm. Englewood Cliffs, NJ: Prentice Hall.
  • Davis, J. P., Eisenhardt, K. M., & Bingham, C. B. (2007). Developing theory through simulation methods. Academy of Management Review, 32(2), 480–499. doi: 10.5465/AMR.2007.24351453
  • Davis, J. P., Eisenhardt, K. M., & Bingham, C. B. (2009). Optimal structure, market dynamism, and the strategy of simple rules. Administrative Science Quarterly, 54(3), 413–452. doi: 10.2189/asqu.2009.54.3.413
  • Daw, N. D., O'Doherty, J. P., Dayan, P., Seymour, B., & Dolan, R. J. (2006). Cortical substrates for exploratory decisions in humans. Nature, 441(7095), 876–879. (BA) doi: 10.1038/nature04766
  • Denrell, J. (2005). Why most people disapprove of me: Experience sampling in impression formation. Psychological Review, 112(4), 951–978. (BA) doi: 10.1037/0033-295X.112.4.951
  • Denrell, J. (2007). Adaptive learning and risk taking. Psychological Review, 114(1), 177–187. (BA) doi: 10.1037/0033-295X.114.1.177
  • Denrell, J., Fang, C., & Levinthal, D. A. (2004). From T-mazes to labyrinths: Learning from model-based feedback. Management Science, 50(10), 1366–1378. (BA) doi: 10.1287/mnsc.1040.0271
  • Denrell, J., Fang, C., & Winter, S. G. (2003). The economics of strategic opportunity. Strategic Management Journal, 24(10), 977–990. doi: 10.1002/smj.341
  • Denrell, J., & March, J. G. (2001). Adaptation as information restriction: The hot stove effect. Organization Science, 12(5), 523–538. (BA) doi: 10.1287/orsc.12.5.523.10092
  • Dess, G. G., & Beard, D. W. (1984). Dimensions of organizational task environments. Administrative Science Quarterly, 29(1), 52–73. doi: 10.2307/2393080
  • Domjan, M. (2010). The principles of learning and behavior (6th ed.). Stamford, CT: Cengage.
  • Edmondson, A. C., & McManus, S. E. (2007). Methodological fit in management field research. Academy of Management Review, 32(4), 1155–1179. doi: 10.5465/AMR.2007.26586086
  • Erev, I., & Roth, A. E. (1998). Predicting how people play games: Reinforcement learning in experimental games with unique, mixed strategy equilibria. American Economic Review, 88(4), 848–881. (BA)
  • Ethiraj, S. K., & Levinthal, D. A. (2004). Bounded rationality and the search for organizational architecture: An evolutionary perspective on the design of organizations and their evolvability. Administrative Science Quarterly, 49(3), 404–437. (NK)
  • Fang, C. (2012). Organizational learning as credit assignment: A model and two experiments. Organization Science, 23(6), 1717–1732. (BA) doi: 10.1287/orsc.1110.0710
  • Fang, C., Lee, J., & Schilling, M. A. (2010). Balancing exploration and exploitation through structural design: The isolation of subgroups and organizational learning. Organization Science, 21(3), 625–642. (MA) doi: 10.1287/orsc.1090.0468
  • Fang, C., & Levinthal, D. (2009). Near-term liability of exploitation: Exploration and exploitation in multistage problems. Organization Science, 20(3), 538–551. (BA) doi: 10.1287/orsc.1080.0376
  • Fernie, G., & Tunney, R. J. (2006). Some decks are better than others: The effect of reinforcer type and task instructions on learning in the Iowa gambling task. Brain and Cognition, 60(1), 94–102. (BA) doi: 10.1016/j.bandc.2005.09.011
  • Festinger, L. (1954). A theory of social comparison processes. Human Relations, 7(2), 117–140. (MA) doi: 10.1177/001872675400700202
  • Fleming, L. (2001). Recombinant uncertainty in technological search. Management Science, 47(1), 117–132. (NK) doi: 10.1287/mnsc.47.1.117.10671
  • Fleming, L., & Sorenson, O. (2001). Technology as a complex adaptive system: Evidence from patent data. Research Policy, 30(7), 1019–1039. (NK) doi: 10.1016/S0048-7333(00)00135-9
  • Fleming, L., & Sorenson, O. (2004). Science as a map in technological search. Strategic Management Journal, 25(8–9), 909–928. (NK) doi: 10.1002/smj.384
  • Fridberg, D. J., Queller, S., Ahn, Wx.-Y., Kim, W., Bishara, A J., Busemeyer, J. R., & Stout, J. C. (2010). Cognitive mechanisms underlying risky decision-making in chronic cannabis users. Journal of Mathematical Psychology, 54(1), 28–38. (BA) doi: 10.1016/j.jmp.2009.10.002
  • Gavetti, G., Greve, H. R., Levinthal, D. A., & Ocasio, W. (2012). The behavioral theory of the firm: Assessment and prospects. The Academy of Management Annals, 6(1), 1–40. doi: 10.1080/19416520.2012.656841
  • Gavetti, G., & Levinthal, D. (2000). Looking forward and looking backward: Cognitive and experiential search. Administrative Science Quarterly, 45(1), 113–137. (NK) doi: 10.2307/2666981
  • Gavetti, G., Levinthal, D., & Ocasio, W. (2007). The Carnegie school's past, present, and reconstructing for the future. Organization Science, 18(3), 523–536. doi: 10.1287/orsc.1070.0277
  • Gavetti, G., Levinthal, D. A., & Rivkin, J. W. (2005). Strategy making in novel and complex worlds: The power of analogy. Strategic Management Journal, 26(8), 691–712. (NK) doi: 10.1002/smj.475
  • Ghemawat, P., & Levinthal, D. (2008). Choice interactions and business strategy. Management Science, 54(9), 1638–1651. (NK) doi: 10.1287/mnsc.1080.0883
  • Gilboa, I., & Schmeidler, D. (2001). A theory of case-based decisions. Cambridge: Cambridge University Press.
  • Gittins, J. C. (1979). Bandit processes and dynamic allocation indices. Journal of the Royal Statistical Society. Series B (Methodological), 41(2), 148–177. (BA)
  • Gittins, J. C., & Jones, D. M. (1974). A dynamic allocation index for the sequential design of experiments. In J. Gan, K. Saikad, & L. Vince (Eds.), Progress in statistics (pp. 241–246). Amsterdam: North-Holland. (BA)
  • Greve, H. R. (1998). Performance, aspirations, and risky organizational change. Administrative Science Quarterly, 43(1), 58–86. doi: 10.2307/2393591
  • Greve, H. R. (2003). Organizational learning from performance feedback: A behavioral perspective on innovation and change. Cambridge: Cambridge University Press.
  • Gruber, M., MacMillan, I. C., & Thompson, J. D. (2008). Look before you leap: Market opportunity identification in emerging technology firms. Management Science, 54(9), 1652–1665. doi: 10.1287/mnsc.1080.0877
  • Gulati, R., & Puranam, P. (2009). Renewal through reorganization: The value of inconsistencies between formal and informal organization. Organization Science, 20(2), 422–440. doi: 10.1287/orsc.1090.0421
  • Harrison, J. R., Lin, Z., Carroll, G. R., & Carley, K. M. (2007). Simulation modeling in organizational and management research. Academy of Management Review, 32(4), 1229–1245. doi: 10.5465/AMR.2007.26586485
  • Hoeffler, S., Ariely, D., & West, P. (2006). Path dependent preferences: The role of early experience and biased search in preference development. Organizational Behavior and Human Decision Processes, 101(2), 215–229. (NK) doi: 10.1016/j.obhdp.2006.04.002
  • Holland, J. H. (1975). Adaptation in natural and artificial systems: An introductory analysis with applications to biology, control, and artificial intelligence. Ann Arbor, MI: University of Michigan Press.
  • Hu, S., Blettner, D., & Bettis, R. A. (2011). Adaptive aspirations: Performance consequences of risk preferences at extremes and alternative reference groups. Strategic Management Journal, 32(13), 1426–1436. doi: 10.1002/smj.960
  • Hug, S. (1999). Nonunitary actors in spatial models how far is far in foreign policy? Journal of Conflict Resolution, 43(4), 479–500. doi: 10.1177/0022002799043004004
  • Kahneman, D., & Klein, G. (2009). Conditions for intuitive expertise: A failure to disagree. American Psychologist, 64(6), 515–526. doi: 10.1037/a0016755
  • Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 263–291. doi: 10.2307/1914185
  • Katila, R., & Ahuja, G. (2002). Something old, something new: A longitudinal study of search behavior and new product introduction. Academy of Management Journal, 45(6), 1183–1194. doi: 10.2307/3069433
  • Kauffman, S. A. (1993). The origins of order: Self-organization and selection in evolution. New York, NY: Oxford University Press.
  • Kauffman, S. A., & Weinberger, E. D. (1989). The NK model of rugged fitness landscapes and its application to maturation of the immune response. Journal of Theoretical Biology, 141(2), 211–245. (NK) doi: 10.1016/S0022-5193(89)80019-0
  • Kjome, K. L., Lane, S. D., Schmitz, J. M., Green, C., Ma, L., Prasla, I., & Moeller, F. G. (2010). Relationship between impulsivity and decision making in cocaine dependence. Psychiatry Research, 178(2), 299–304. (BA) doi: 10.1016/j.psychres.2009.11.024
  • Klayman, J., & Ha, Y. W. (1987). Confirmation, disconfirmation, and information in hypothesis testing. Psychological Review, 94(2), 211–228. doi: 10.1037/0033-295X.94.2.211
  • Knudsen, T., & Levinthal, D. A. (2007). Two faces of search: Alternative generation and alternative evaluation. Organization Science, 18(1), 39–54. (NK, IA) doi: 10.1287/orsc.1060.0216
  • Knudsen, T., & Srikanth, K. (2014). Coordinated exploration organizing joint search by multiple specialists to overcome mutual confusion and joint myopia. Administrative Science Quarterly, 59(3), 409–441. (MA) doi: 10.1177/0001839214538021
  • Kotovsky, K., Hayes, J. R., & Simon, H. A. (1985). Why are some problems hard? Evidence from tower of Hanoi. Cognitive Psychology, 17(2), 248–294. doi: 10.1016/0010-0285(85)90009-X
  • Kretschmer, T., & Puranam, P. (2008). Integration through incentives within differentiated organizations. Organization Science, 19(6), 860–875. doi: 10.1287/orsc.1070.0352
  • Kugler, T., Kausel, E. E., & Kocher, M. G. (2012). Are groups more rational than individuals? A review of interactive decision making in groups. Wiley Interdisciplinary Reviews: Cognitive Science, 3(4), 471–482.
  • Langley, P., Pearce, C., Barley, M., & Emery, M. (2014). Bounded rationality in problem solving: Guiding search with domain-independent heuristics. Mind & Society, 13(1), 83–95. doi: 10.1007/s11299-014-0143-y
  • Lant, T. K. (1992). Aspiration level adaptation: An empirical exploration. Management Science, 38(5), 623–644. doi: 10.1287/mnsc.38.5.623
  • Lant, T. K., & Mezias, S. J. (1992). An organizational learning model of convergence and reorientation. Organization Science, 3(1), 47–71. doi: 10.1287/orsc.3.1.47
  • Laureiro-Martinez, D., Brusoni, S., Canessa, N., & Zollo, M. (2015). Understanding the exploration–exploitation dilemma: An MRI study of attention control and decision-making performance. Strategic Management Journal, 36(3), 319–338. (BA) doi: 10.1002/smj.2221
  • Lave, C. A., & March, J. G. (1975). An introduction to models in the social sciences. New York, NY: Harper & Row. (BA, MA)
  • Lazer, D., & Friedman, A. (2007). The network structure of exploration and exploitation. Administrative Science Quarterly, 52(4), 667–694. (NK, MA) doi: 10.2189/asqu.52.4.667
  • Lea, S. E., McLaren, I. P., Dow, S. M., & Graft, D. A. (2012). The cognitive mechanisms of optimal sampling. Behavioral Processes, 89(2), 77–85. (BA) doi: 10.1016/j.beproc.2011.10.004
  • Lee, E., & Puranam, P. (in press). The implementation imperative: Why one should implement even imperfect strategies perfectly. Strategic Management Journal. (BA, MA)
  • Lenox, M. J., Rockart, S. F., & Lewin, A. Y. (2006). Interdependency, competition, and the distribution of firm and industry profits. Management Science, 52(5), 757–772. (NK, MA) doi: 10.1287/mnsc.1050.0495
  • Lenox, M. J., Rockart, S. F., & Lewin, A. Y. (2007). Interdependency, competition, and industry dynamics. Management Science, 53(4), 599–615. (NK, MA) doi: 10.1287/mnsc.1060.0679
  • Lenox, M. J., Rockart, S. F., & Lewin, A. Y. (2010). Does interdependency affect firm and industry profitability? An empirical test. Strategic Management Journal, 31(2), 121–139. (NK, MA)
  • Levinthal, D. A. (1997). Adaptation on rugged landscapes. Management Science, 43(7), 934–950. (NK) doi: 10.1287/mnsc.43.7.934
  • Levinthal, D., & Posen, H. E. (2007). Myopia of selection: Does organizational adaptation limit the efficacy of population selection? Administrative Science Quarterly, 52(4), 586–620. (NK) doi: 10.2189/asqu.52.4.586
  • Levitt, B., & March, J. G. (1988). Organizational learning. Annual Review of Sociology, 14, 319–340. doi: 10.1146/annurev.so.14.080188.001535
  • Lippman, S. A., & Rumelt, R. P. (2003). The payments perspective: Micro-foundations of resource analysis. Strategic Management Journal, 24(10), 903–927. doi: 10.1002/smj.346
  • Loch, C. H., & Kavadias, S. (2002). Dynamic portfolio selection of NPD programs using marginal returns. Management Science, 48(10), 1227–1241. (BA) doi: 10.1287/mnsc.48.10.1227.275
  • Lounamaa, P. H., & March, J. G. (1987). Adaptive coordination of a learning team. Management Science, 33(1), 107–123. (MA) doi: 10.1287/mnsc.33.1.107
  • Luce, D. R. (1959). Individual choice behavior. New York, NY: Harper & Row.
  • Maciejovsky, B., Sutter, M., Budescu, D. V., & Bernau, P. (2013). Teams make you smarter: How exposure to teams improves individual decisions in probability and reasoning tasks. Management Science, 59(6), 1255–1270. doi: 10.1287/mnsc.1120.1668
  • March, J. G. (1991). Exploration and exploitation in organizational learning. Organization Science, 2(1), 71–87. (MA) doi: 10.1287/orsc.2.1.71
  • March, J. G. (1996). Learning to be risk averse. Psychological Review, 103(2), 309–319. doi: 10.1037/0033-295X.103.2.309
  • McCarthy, I. P., Lawrence, T. B., Wixted, B., & Gordon, B. R. (2010). A multidimensional conceptualization of environmental velocity. Academy of Management Review, 35(4), 604–626. doi: 10.5465/AMR.2010.53503029
  • Miller, K. D., Zhao, M., & Calantone, R. J. (2006). Adding interpersonal learning and tacit knowledge to March's exploration–exploitation model. Academy of Management Journal, 49(4), 709–722. (MA) doi: 10.5465/AMJ.2006.22083027
  • Minniti, M., & Bygrave, W. (2001). A dynamic model of entrepreneurial learning. Entrepreneurship Theory and Practice, 25(3), 5–16. (BA)
  • Murnighan, J. K., & Roth, A. E. (1983). Expecting continued play in prisoner's Dilemma games: A test of several models. Journal of Conflict Resolution, 27(2), 279–300. doi: 10.1177/0022002783027002004
  • Nelson, R. R., & Winter, S. G. (1982). An evolutionary theory of economic change. Cambridge, MA: Belknap.
  • Newell, A., & Simon, H. A. (1972). Human problem solving. Englewood Cliffs, NJ: Prentice-Hall.
  • Newell, B. R., & Shanks, D. R. (2014). Unconscious influences on decision making: A critical review. Behavioral and Brain Sciences, 38(1), 1–19. doi: 10.1017/S0140525X12003214
  • Noda, T., & Bower, J. L. (1996). Strategy making as iterated processes of resource allocation. Strategic Management Journal, 17(S1), 159–192. (BA) doi: 10.1002/smj.4250171011
  • Nowak, M., & Sigmund, K. (1993). A strategy of win-stay, lose-shift that outperforms tit-for-tat in the Prisoner's Dilemma game. Nature, 364(6432), 56–58. (BA) doi: 10.1038/364056a0
  • O'Reilly, C., & Tushman, M. (2013). Organizational ambidexterity: Past, present and future. The Academy of Management Perspectives, 27(4), 324–338. doi: 10.5465/amp.2013.0025
  • Osman, M. (2010). Controlling uncertainty: A review of human behavior in complex dynamic environments. Psychological Bulletin, 136(1), 65–86. doi: 10.1037/a0017815
  • Osman, M. (2014). Future-Minded: The psychology of agency and control. Basingstoke: Palgrave-MacMillan.
  • Osman, M., & Ananiadis-Basias, A. (2013). Context and animacy play a role in dynamic decision-making. Journal of Entrepreneurship, Management and Innovation, 9(2), 61–78.
  • Otto, A. R., Markman, A. B., Gureckis, T. M., & Love, B. C. (2010). Regulatory fit and systematic exploration in a dynamic decision-making environment. Learning, Memory, 36(3), 797–804. (BA) doi: 10.1037/a0018999
  • Page, S. E. (1996). Two measures of difficulty. Economic Theory, 8(2), 321–346. (NK) doi: 10.1007/BF01211821
  • Payzan-LeNestour, E., & Bossaerts, P. (2012). Do not bet on the unknown versus try to find out more: estimation uncertainty and “unexpected uncertainty” both modulate exploration. Frontiers in Neuroscience, 6(150). doi:10.3389/fnins.2012.00150.
  • Posen, H. E., Lee, J., & Yi, S. (2013). The power of imperfect imitation. Strategic Management Journal, 34(2), 149–164. (MA) doi: 10.1002/smj.2007
  • Posen, H. E., & Levinthal, D. A. (2012). Chasing a moving target: Exploitation and exploration in dynamic environments. Management Science, 58(3), 587–601. (BA) doi: 10.1287/mnsc.1110.1420
  • Premkumar, P., Fannon, D., Kuipers, E., Simmons, A., Frangou, S., & Kumari, V. (2008). Emotional decision-making and its dissociable components in schizophrenia and schizoaffective disorder: A behavioral and MRI investigation. Neuropsychologia, 46(7), 2002–2012. (BA) doi: 10.1016/j.neuropsychologia.2008.01.022
  • Prietula, M., Carley, K., & Gasser, L. (1998). Simulating organizations: Computational models of institutions and groups. Cambridge, MA: The MIT Press.
  • Puranam, P., Alexy, O., & Reitzig, M. (2014). What's “new” about new forms of organizing? Academy of Management Review, 39(2), 162–180. doi: 10.5465/amr.2011.0436
  • Puranam, P., & Swamy, M. (in press). How initial representations shape coupled learning processes. Organization Science. (BA, MA)
  • Puranam, P., & Vanneste, B. S. (2009). Trust and governance: Untangling a tangled web. Academy of Management Review, 34(1), 11–31. doi: 10.5465/AMR.2009.35713271
  • Rahmandad, H. (2008). Effect of delays on complexity of organizational learning. Management Science, 54(7), 1297–1312. (BA) doi: 10.1287/mnsc.1080.0870
  • Raisch, S., Birkinshaw, J., Probst, G., & Tushman, M. L. (2009). Organizational ambidexterity: Balancing exploitation and exploration for sustained performance. Organization Science, 20(4), 685–695. doi: 10.1287/orsc.1090.0428
  • Raveendran, M., Puranam, P., & Warglien, M. (in press). Object salience in division of labor: Experimental evidence. Management Science.
  • Reitzig, M., & Maciejovsky, B. (in press). Corporate hierarchy and vertical information flow inside the firm a behavioral view. Strategic Management Journal. (IA)
  • Rivkin, J. W. (2000). Imitation of complex strategies. Management Science, 46(6), 824–844. (NK) doi: 10.1287/mnsc.46.6.824.11940
  • Rivkin, J. W. (2001). Reproducing knowledge: Replication without imitation at moderate complexity. Organization Science, 12(3), 274–293. (NK) doi: 10.1287/orsc.12.3.274.10106
  • Rivkin, J. W., & Siggelkow, N. (2003). Balancing search and stability: Interdependencies among elements of organizational design. Management Science, 49(3), 290–311. (NK, MA) doi: 10.1287/mnsc.49.3.290.12740
  • Rivkin, J. W., & Siggelkow, N. (2007). Patterned interactions in complex systems: Implications for exploration. Management Science, 53(7), 1068–1085. (NK, MA) doi: 10.1287/mnsc.1060.0626
  • Rosenkopf, L., & Nerkar, A. (2001). Beyond local search: Boundary-spanning, exploration, and impact in the optical disk industry. Strategic Management Journal, 22(4), 287–306. doi: 10.1002/smj.160
  • Roth, A. E., & Murnighan, J. K. (1978). Equilibrium behavior and repeated play of the prisoner's dilemma. Journal of Mathematical Psychology, 17(2), 189–198. doi: 10.1016/0022-2496(78)90030-5
  • Rubinstein, A. (1998). Modeling bounded rationality. Cambridge, MA: MIT Press.
  • Sah, R. K., & Stiglitz, J. E. (1985). Human fallibility and economic organization. The American Economic Review, 75(2), 292–297. (IA)
  • Sah, R. K., & Stiglitz, J. E. (1988). Committees, hierarchies and polyarchies. Economic Journal, 98(391), 451–470. (IA) doi: 10.2307/2233377
  • Schilling, M. A., & Fang, C. (2014). When hubs forget, lie, and play favorites: Interpersonal network structure, information distortion, and organizational learning. Strategic Management Journal, 35(7), 974–994. doi: 10.1002/smj.2142
  • Schoemaker, P. J. (1982). The expected utility model: Its variants, purposes, evidence and limitations. Journal of Economic Literature, 20(2), 529–563.
  • Selten, R. (2001). What is bounded rationality? In G. Gigerenezer & R. Selten (Eds.), Bounded rationality: The adaptive toolbox (pp. 13–36). Cambridge, MA: MIT Press.
  • Siggelkow, N. (2002). Misperceiving interactions among complements and substitutes: Organizational consequences. Management Science, 48(7), 900–916. doi: 10.1287/mnsc.48.7.900.2820
  • Siggelkow, N., & Levinthal, D. A. (2003). Temporarily divide to conquer: Centralized, decentralized, and reintegrated organizational approaches to exploration and adaptation. Organization Science, 14(6), 650–669. doi: 10.1287/orsc.14.6.650.24840
  • Siggelkow, N., & Rivkin, J. W. (2005). Speed and search: Designing organizations for turbulence and complexity. Organization Science, 16(2), 101–122. (NK, MA) doi: 10.1287/orsc.1050.0116
  • Siggelkow, N., & Rivkin, J. W. (2006). When exploration backfires: Unintended consequences of multilevel organizational search. Academy of Management Journal, 49(4), 779–795. (NK, MA) doi: 10.5465/AMJ.2006.22083053
  • Siggelkow, N., & Rivkin, J. W. (2009). Hiding the evidence of valid theories: How coupled search processes obscure performance differences among organizations. Administrative Science Quarterly, 54(4), 602–634. (NK, MA) doi: 10.2189/asqu.2009.54.4.602
  • Simon, H. A. (1947). Administrative behavior. New York, NY: The Free Press.
  • Simon, H. A. (1955). A behavioral model of rational choice. The Quarterly Journal of Economics, 69(1), 99–118. doi: 10.2307/1884852
  • Simon, H. A. (1956). Rational choice and the structure of the environment. Psychological Review, 63(2), 129–138. doi: 10.1037/h0042769
  • Simon, H. A. (1990). Invariants of human behavior. Annual Review of Psychology, 41(1), 1–20. doi: 10.1146/annurev.ps.41.020190.000245
  • Simon, H. A. (1996). The sciences of the artificial (3rd ed.). Cambridge, MA: MIT Press.
  • Simon, H. A. (1997). An empirically-based microeconomics. Cambridge: Cambridge University Press.
  • Smith, V. L. (1982). Microeconomic systems as an experimental science. The American Economic Review, 72(5), 923–955.
  • Spiegler, R. (2011). Bounded rationality and industrial organization. New York, NY: Oxford University Press.
  • Steingroever, H., Wetzels, R., Horstmann, A., Neumann, J., & Wagenmakers, E. J. (2012). Performance of healthy participants on the Iowa gambling task. Psychological Assessment, 25, 1–14. (BA)
  • Steyvers, M., Lee, M. D., & Wagenmakers, E. (2009). A Bayesian analysis of human decision-making on bandit problems. Journal of Mathematical Psychology, 53(3), 168–179. (BA) doi: 10.1016/j.jmp.2008.11.002
  • Stieglitz, N., Knudsen, T., & Becker, M. (2014). Adaptation and inertia in dynamic environments. (Working Paper). (BA )
  • Stuart, T. E., & Podolny, J. M. (1996). Local search and the evolution of technological capabilities. Strategic Management Journal, 17(S1), 21–38. doi: 10.1002/smj.4250171004
  • Surowiecki, J. (2005). The wisdom of crowds. New York, NY: Random House LLC.
  • Sutton, R. S., & Barto, A. G. (1998). Reinforcement learning: An introduction. Cambridge: MIT Press. (BA)
  • Thorndike, E. L. (1911). Animal intelligence: Experimental studies. New York, NY: Macmillan.
  • Wildschut, T., Pinter, B., Vevea, J. L., Insko, C. A., & Schopler, J. (2003). Beyond the group mind: A quantitative review of the interindividual-intergroup discontinuity effect. Psychological Bulletin, 129(5), 698–722. doi: 10.1037/0033-2909.129.5.698
  • Wood, S., Busemeyer, J., Koling, A., Cox, C. R., & Davis, H. (2005). Older adults as adaptive decision makers: Evidence from the Iowa gambling task. Psychology and Aging, 20(2), 220–225. (BA) doi: 10.1037/0882-7974.20.2.220
  • Wright, S. (1932). The roles of mutation, inbreeding, crossbreeding and selection in evolution. Proceedings of the sixth annual congress of genetics (Vol. 1, pp. 356–366). Reprinted in William B. Provine (1986), Sewall Wright: Evolution: Selected papers (pp. 161–177). Chicago, IL: University of Chicago Press. (NK)
  • Yechiam, E., & Busemeyer, J. R. (2005). Comparison of basic assumptions embedded in learning models for experience-based decision making. Psychonomic Bulletin & Review, 12(3), 387–402. (BA) doi: 10.3758/BF03193783
  • Zollo, M., & Winter, S. G. (2002). Deliberate learning and the evolution of dynamic capabilities. Organization Science, 13(3), 339–351. doi: 10.1287/orsc.13.3.339.2780

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.