Document Type
Conference Proceeding
Publication Date
1-1-2019
Abstract
In recent years, there has been a need for deeper understanding of the cumulating knowledge in different science disciplines about human emotions in decision making. Indeed, many traditional economic theories operate with the preconception of utility maximization, which partly contradicts with the recent findings in behavioral economics and neurosciences. In other words, science has shown that we can make suboptimal business decisions under the influence of changing emotional states. Moreover, traditional economic literature has often highlighted the strict division between rational decision making and the effective dimensions of the human mind. This conceptual article therefore challenges these conceptions by exploring the dynamic interconnected nature of business decision making and emotions. As a result, we present step-to-step instructions on practical means how to cope with emotions in a turbulent business environment.
Copyright Statement / License for Reuse
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.
Recommended Citation
Koporcic, Nikolina and Nietola, Miika, "Dynamics of Business Decision Making: Understanding the Role of Emotions" (2019). Association of Marketing Theory and Practice Proceedings 2019. 32.
https://digitalcommons.georgiasouthern.edu/amtp-proceedings_2019/32
About the Authors
Dr. Nikolina Koporcic is a University Teacher in International Marketing at the School of Business and Economics (Åbo Akademi University). She has received her Doctoral Degree at the same University in December 2017. Her research interests include areas of corporate branding, business-to-business relationships, and networks. In particular, she is studying the importance of Interactive Network Branding for small and medium-sized enterprises (SMEs) in business markets. Nikolina has published her research in Industrial Marketing Management, IMP Journal, and Econviews.
Miika Nietola, M.D., B.Soc.Sc., is a specializing physician in psychiatry at the University Hospital of Turku and a PhD student at the University of Turku. He is especially interested in the long-term course of severe mental disorders and is currently studying Psychotic Depression in collaboration with Oulu University. Also, he is interested in multidisciplinary perspectives on a range of topics related to mental health and emotion regulation. Miika Nietola has published his research in Psychological Medicine and European Psychiatry.