Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE ( © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy and Legal Notice).

date: 10 July 2020

Abstract and Keywords

Sampling explanations focus on biases in the information available to managers instead of biases in how managers process the available information. Managers seldom have access to a random or representative sample of outcomes. The available sample of outcomes is often subject to a selection bias. This chapter reviews recent research on three sampling biases with important implications for organizations: undersampling of failure, the hot-stove effect, and underweighting rare events in small samples. There is evidence from experiments as well as field studies that these sample biases significantly impact decision making. In particular, whether managers will choose a risky or a safe alternative depends on the type of bias in data available to them.

Keywords: sampling, decision making, organizational learning, judgment biases, selection bias, hot-stove effect, risk taking, exploration

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.