Decision Making
Source: https://bm.hkust.edu.hk/bizinsight/tag/decision-making Parent: https://bm.hkust.edu.hk/bizinsight/bizthemes/data-analytics
NAN, Lana Xianglan
YANG, Yang
Rejections are More Contagious than Choices in Marketing
In today’s technologically connected world, people learn about others’ purchase decisions on social media and review sites, as well as through direct observation. These decisions are perceived as either a choice or a rejection, explain HKUST’s Sang Kyu Park and co-researchers, who ask a critical question: “Does the mere perception of another’s decision as a ... Read More
[ BizStudies ]
Path Dependency in Physician Decisions
Do experts make biased decisions? In this study, we examine the decision-making of emergency department physicians who must decide whether to admit or discharge patients. We find evidence suggesting that these physicians are subject to biases in their decision-making. Specifically, we discovered that a physician's decision for a given patient can be ... Read More
[ BizTalks ]
PROVOST, Foster
HAN, Xintian
Explaining AI’s Data-Driven Decisions
Today, artificial intelligence (AI) systems make data-driven decisions in a multitude of applications and industries. Explanations of the reasoning behind these decisions are crucial to the success and acceptance of such systems, say HKUST researcher Carlos Fernández-Loría and colleagues. Rising to this challenge, the authors present and rigorously test a ... Read More
[ BizStudies ]
The Fair AI?: Reactions to AI-made organizational decisions
Would people react positively or negatively if organizational decisions were made by AI instead of by traditional decision agents (i.e., human managers)? Whereas high-profile stories covered in news media suggest that the use of AI in organizational decision-making was viewed as unfair and received negatively, recent surveys showed that using AI in decision ... Read More
[ BizTalks ]
Status Motivation and Parents’ Spending on Children’s Educational Products
Education is one of the top expenditures for families, especially in Asia. For example, the average expenditure on a child’s education from primary school to undergraduate level in Hong Kong is more than any other regions/countries in the world. When examined closer, some educational purchases are made to develop a child’s strengths (i.e., strength-focused ... Read More
[ BizTalks ]
Rejections Are More Contagious than Choices: How Another’s Decisions Shape Our Own
Every day, we learn about others’ decisions from various sources. We perceive some of these decisions as choices of the more-preferred alternative and others as rejections of the less-preferred alternative. In which case are we more likely to follow another’s decision? We find that people are more likely to conform to another’s decision if it is perceived as ... Read More
[ BizTalks ]
HO, Emily H.
LOEWENSTEIN, George
Is Ignorance Really Bliss? The Perils of Information Avoidance
In the modern world, information is readily available to inform decisions both great—on health, finance, or politics, for example—and small. However, decision-makers are not always eager to take advantage of the information at their fingertips, especially if they fear that it will be painful. Such willful ignorance can have dire consequences for individuals ... Read More
[ BizStudies ]
ANG, James S.
TANG, Di
WU, Chaopeng
Could Social Media Empower Small Investors in Corporate Governance?
Social media posts about potential mergers and acquisitions (M&As) can significantly predict the likelihood of M&A success, say HKUST researcher Charles Hsu and colleagues. Social media message boards give China’s 50 million small investors a voice, which they are using to express their opinions on acquisition activity. This study establishes an influential ... Read More
[ BizStudies ]
ANSARI, Asim
Customer Purchase Dynamics and Competing Loyalty Programs
To defeat others in the battle for market share, firms routinely launch different loyalty programs, deeply influencing customer purchasing decisions. The widespread availability of such programs imply competing firms face the challenge of disentangling the interactive impact to make informed pricing and promotional decisions, especially in competitive ... Read More
[ BizStudies ]
How Data Analytics Are Used in Marketing
A closer look into three main kinds of data-driven marketing analytics – descriptive, predictive and prescriptive. Assistant Professor LIU Jia Department of Marketing, HKUST Business School Data-driven marketing simply put means using quantitative methods to derive meaning from data to make informed marketing decisions. Thanks to the availability of a ... Read More
[ Data Analytics ]