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On the relevance of Cognitive Continuum Theory and quasirationality for understanding management judgment and decision making

Dhami, MK and Thomson, ME (2012) On the relevance of Cognitive Continuum Theory and quasirationality for understanding management judgment and decision making European Management Journal, 30 (4). 316 - 326. ISSN 0263-2373

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Abstract

'Quasirationality' (i.e., the combination of intuitive and analytic thought) is increasingly considered to be widespread and beneficial in management. This paper provides an overview of this concept as it is defined by Cognitive Continuum Theory (Hammond, 1996, 2000), and highlights the relevance of the theory for studying managerial judgment and decision making. According to Cognitive Continuum Theory, there are multiple modes of cognition that lie on a continuum between intuition and analysis. Quasirationality is the prevalent mode of cognition. Cognitive (managerial) tasks vary in their ability to induce intuition, quasirationality or analysis, and performance is contingent on the correspondence between task properties and cognitive mode. Using Cognitive Continuum Theory, management researchers can identify tasks requiring different modes of thought, and recognize when quasirationality may outperform analysis and intuition. Researchers can also utilize Cognitive Continuum Theory to iron out some identified anomalies in the strategic management literature and to provide a more refined theoretical framework in this context. © 2012 Elsevier Ltd.

Item Type: Article
Additional Information: This is the author's version of a work that was accepted for publication in European Management Journal. Changes resulting from the publishing process such as editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definite version was subsequently published in European Management Journal, 30(4):316-326. DOI: 10.1016/j.emj.2012.02.002 Available online at: http://www.journals.elsevier.com/european-management-journal/
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Divisions: Faculty of Arts and Human Sciences > Psychology
Depositing User: Symplectic Elements
Date Deposited: 31 Oct 2012 15:58
Last Modified: 23 Sep 2013 19:50
URI: http://epubs.surrey.ac.uk/id/eprint/735782

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