Two‐stage decision‐making within the firm: analysis and case studies

Yu-Lin Hsu, Gavin C. Reid

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Abstract

This article analyses, with case study illustrations, a two‐stage decision support technique for making informed choices within firms. The technique can assist managers by the use of simple decision‐tree diagrams, assigning values to its branches. The technique is based on the microeconomics of choice orderings, and we demonstrate how appropriate decision trees can be constructed and applied. This technique is illustrated by three case study vignettes based on real actions of UK firms. These show how such decision trees can both aid our understanding of choices made and assist in the practice of choosing financial reporting regimes and techniques.
Original languageEnglish
Pages (from-to)1355-1373
Number of pages19
JournalManagerial and Decision Economics
Volume42
Issue number6
DOIs
Publication statusAccepted/In press - 14 Feb 2021

Keywords

  • two-stage model
  • decision-making
  • decision trees
  • financial reporting choices

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