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Tailoring value elicitation to decision makers' numeracy and fluency: expressing value judgments in numbers or words

Fasolo, Barbara and Bana-Costa, Carlos (2014) Tailoring value elicitation to decision makers' numeracy and fluency: expressing value judgments in numbers or words. Omega: the International Journal of Management Science, 44 . pp. 83-90. ISSN 0305-0483

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Abstract

In organizational settings, options evaluation requires managers to express value judgments on multiple criteria. This research investigates the influence of decision makers' numeracy (ability to use appropriate numerical principles) and fluency (ability to express oneself in words) on their subjective experience of value elicitation as supported by two different techniques: direct rating and MACBETH. The former asks for value judgments to be expressed numerically, the latter non-numerically. The results of our experiment indicate that the two techniques are not psychologically equivalent: decision makers with higher numeracy express values more easily when assisted by the numerical technique whereas decision makers with higher fluency find value elicitation easier with the non-numerical technique. These findings highlight the importance of tailoring value elicitation to decision makers' numeracy and fluency. Implications for decision scientists and analysts are discussed.

Item Type: Article
Official URL: http://www.journals.elsevier.com/omega/
Additional Information: © 2014 Elsevier
Library of Congress subject classification: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Sets: Departments > Management
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Funders: Portuguese Foundation for Science & Technology
Date Deposited: 12 Dec 2013 15:31
URL: http://eprints.lse.ac.uk/51692/

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