Thinking,feeling and deciding: The influence of emotions on the decision making and performance of traders

We report on a qualitative investigation of the influence of emotions on the decision making of traders in four City of London investment banks, a setting where work has been predominantly theorized as dominated by rational analysis. We conclude that emotions and their regulation play a central role in traders' decision making. We find differences between high and low performing traders in how they engage with their intuitions, and that different strategies for emotion regulation have material consequences for trader behavior and performance. Traders deploying antecedent‐focused emotional regulation strategies achieve a performance advantage over those employing primarily response‐focused strategies. We argue that, in particular, response‐focused approaches incur a performance penalty, in part because of the reduced opportunity to combine analysis with the use of affective cues in making intuitive judgments. We discuss the implications for our understanding of emotion and decision making, and for traders' practice. Copyright © 2010 John Wiley & Sons, Ltd.     

Can level of safety climate predict level of orientation toward safety in a decision making task?

Establishing the relationship between level of safety climate and safety performance is a current challenge. This work examines the relationship between level of safety climate and orientation toward safety in the decision making process and choice. Alternatively, this work seeks to answer the question of whether level of safety climate can predict safety-oriented decision making. A generalized safety climate questionnaire and a decision making simulation are utilized to examine this relationship. The results indicate that level of safety climate is not a significant predictor of the decision process; however, it was found to be a significant predictor of the selection of safer choices.     

A systemic methodology for risk management in healthcare sector

The recent biomedical, technological, and normative changes have led healthcare organizations to the implementation of clinical governance as a way to ensure the best quality of care in an increasingly complex environment. Risk management is one of the most relevant aspects of clinical governance and approaches put forward in literature highlight the necessity to perform comprehensive analyses intended to uncover root causes of adverse events.Contributing to this field, the present paper applies Reason’s theory of failures to work out a systemic methodology to study risks impacting not only directly but also indirectly on patients. Also, the steps of such approach are organized around Human Reliability Assessment phases, in order to take into account the human component of healthcare systems. This framework is able to foster effective decision making about reducing failures and waste and to improve healthcare organizations’ maturity towards risk management.The developed methodology is applied to the pharmacy department of a large Italian hospital. An extensive validation in different healthcare settings is required to fully prove benefits and limitations.     

Normative barriers improvement through the MADS/MOSAR methodology

During the past 30 years, safety and environmental topics have moved up on the list of society’s significant concerns. Administrations and regulatory bodies have to publish rules for the protection of the public, decide whether to authorize the use of a chemical product or the construction of a new plant, limit the environmental impact, regulate waste disposal, etc. All these rules i.e. the legislative, normative and procedural corpus of a country, a state, a city or a factory can be designated to a barrier function. These barriers are indispensable and play an important role in industrial safety management. In developed countries, growth during the past few years in the number of laws directed at regulating environmental and safety aspects in industry is well known to everyone. Now the definition, classification and performance of the legislative and normative barriers definitely allow the management of technological risks. So it is possible to permit the identification of the flux of hazard and to perform risk reduction in order to enhance the acceptability in a regional context. A systemic risk analysis methodology was applied to Colombian industrial sectors. The current legislation was analyzed with three scenarios. A global panorama of the different existing instruments allowing future management opportunities was suggested. The obtained analysis results propose a point of view, which could be useful for a local government or a whole national system to evaluate or improve the risk legislative and normative barriers. This modeling can be applied to other countries and to other industrial sectors.     

Can public participation help managing risks from natural hazards?

Most of the mitigation measures against natural hazards can not be perfectly allocated via the common market mechanism, given their principle character of being a public good. Thus, different instruments need to be applied to retrieve their values. Economic valuation tools are one alternative to estimate preferences of individuals towards these goods. These methods are often difficult to operationalise and are not a feasible task for every single project. An alternative is offered by direct preference representation through involving affected interest groups actively in decisions. A critical question is whether the decision on protection measures can be left to public participation or should remain in the experts’ decision responsibility. It can be observed that the latter mode shows inefficiencies. In this paper, it is argued that participation could be one way to bring about the desired goal of increasing efficiency. The present work offers a discussion of the relevant political economic concepts in order to introduce the idea that participation can increase efficiency through achieving the Pareto criterion claimed in the realm of constitutional economics. Furthermore it will be shown that decision aiding tools, namely multi-criteria analysis, can integrate participation into actual decision making processes in a structured way.     

基于信息熵评价决策模型的突发公共事件应急处置指挥方案优选

提出基于信息熵评价决策模型对突发公共事件应急处置指挥决策中的作战方案进行优选的方法。首先介绍应急处置指挥决策的概念和过程;其次,分析了信息熵以及基于信息熵评价模型的多属性决策方法;最后,给出基于信息熵的评价决策模型在突发公共事件应急处置指挥方案优选中的应用。实地演练表明,该决策模型在应急指挥决策方案排序与优选是客观合理、切实可行的,能够为应急处置指挥决策提供一定的参考。     

On ethical leadership impact: The role of follower mindfulness and moral emotions

With the present paper, we aim to provide new conceptual insights and empirical evidence on ethical leadership contingencies: we analyze under what conditions ethical leadership can positively impact follower discretionary work behaviors (extra effort and helping). We argue that followers vary in terms of their sensitivity toward and processing of moral information, as conveyed by ethical leaders, and that these individual differences determine the strength of the link between ethical leadership and follower discretionary work behaviors. In a multisource study with 135 leader–follower dyads, we examine two prototypical examples of affective and cognitive individual differences that involve a heightened inclination toward morality: follower moral emotions and follower mindfulness. Our findings indicate that ethical leadership is more strongly related to follower extra effort and helping at higher levels of follower moral emotions and higher levels of follower mindfulness. We discuss the implications of this moral information processing perspective on ethical leadership for research and managerial practice. Copyright © 2014 John Wiley & Sons, Ltd.     

Interpersonal emotion regulation strategies: Enabling flexibility in high-stress work environments

While scholars have demonstrated that emotions play a central role in cognition, behavior, and decision making, most of the studies on emotions in work contexts show that emotions, or their expression, are often suppressed. We thus investigated how workers in high-stress work environments deal with emotions and remain functional by focusing on the range of extrinsic regulation strategies used by workers in these environments. Drawing from participant observations and in-depth, semistructured interviews, we show how police officers are flexible in their choices of emotion-regulation strategies and how contextual factors emerge as the crux of this process. We contribute to the understanding of regulatory flexibility—defined as the process of matching emotion regulation strategies to environmental circumstances as they unfold in real work situations—by identifying two main enabling factors: coregulation and third party interference.     

The influence of organizational democracy on employees' socio‐moral climate and prosocial behavioral orientations

This study investigates the effects of workers' perceived participation in democratic decision‐making on their prosocial behavioral orientations, democratic values, commitment to the firm, and perceptions of socio‐moral climate. The sample consists of 325 German‐speaking employees from 22 companies in Austria, North Italy, and Southern Germany that vary in their level of organizational democracy (social partnership enterprises, workers' co‐operatives, democratic reform enterprises, and employee‐owned self‐governed firms). The findings suggest that the extent employees participate in democratic forms of organizational decision‐making is positively related to the firm's socio‐moral climate as well as to their own organizational commitment and prosocial and community‐related behavioral orientations. The results also indicate that socio‐moral climate is positively related to employees' organizational commitment. The effect of participation in decision‐making on organizational commitment is partially mediated by socio‐moral climate. Implications for promoting societal and organizational civic virtues among individuals are described. Copyright © 2009 John Wiley & Sons, Ltd.     

J-value analysis of different regulatory limits for workers and the public

The J-value technique allows an objective determination to be made of the resources that should be applied cost effectively to improve heath and safety. This is essential if capabilities are to be employed optimally and risks reduced in a way that reflects their severity. Although other considerations such as good practice and socio-political influences may affect a final decision on the resources to be sanctioned, the incorporation of these additional factors should be made transparent if the decision is no longer to be based on cost effectiveness. The J-value provides an objective criterion by which to judge when “reasonable practicability” has been achieved in committing resources for safety improvement, which is the legal requirement under health and safety law in the UK.Moreover, the J-value methodology also allows other related issues to be addressed objectively. Regulatory bodies apply different limits for workers and the general public, with higher risks being permitted for workers. Although a factor of about 10 has been used in several contexts, no objective rationale has been developed for this particular figure until now. However, it is shown that application of the J-value analysis can provide a justification for a ratio of workers’ risk to public risk of approximately this size if certain reasonable assumptions are made. Thus the paper provides the first quantitative explanation for the different levels of protection demanded by regulators nationally and internationally for workers and public.     

我国民航灾害应急联动机制优化研究

针对我国现行的民航灾害应急联动救援体系所存在着多头指挥、组织形式不明确、责任关系不协调、信息沟通不顺畅、资源调度不合理等问题,运用文献检索、理论分析与实地调研相结合的方法,笔者提出优化思路:民航灾害应急联动机制应以各级民航管理当局的飞行事故应急指挥部为主要指挥决策者,采用虚拟的网络式组织形式,理顺联动单位的责任与关系,将应急联动的信息网络与各地突发公共危机事件的信息平台接轨,成立全国统一的、具有双重功能的民航灾害应急资源调度中心。其中,对民航灾害应急联动虚拟网络组织形式的设计,较好地改进了现行组织的效率,体现了快速反应和协调行动的要求。     

Project risk identification and assessment simultaneously using multi-attribute group decision making technique

The identification and assessment of project risks among potential risks can be considered a multi-attribute group decision making (MAGDM) problem including both quantitative and qualitative criteria. We extend the concept of safety to risk identification and assessment; this is to emphasize that the focus should not only be on the time and cost criteria, but also on the health, safety and environment (HSE) criterion. Conventional approaches to risk identification and risk assessment separately tend to be less effective in dealing with the imprecise of the risk assessment individually. The aim of this paper is to present a new methodology for identifying and assessing risks simultaneously by applying MAGDM technique. This paper includes a new procedure for classifying potential risks which it is named potential risk breakdown structure (PRBS) based on project work breakdown structure (WBS). Nominal group technique (NGT) is utilized for gathering potential risks. Obtained results have been applied in gas refinery plant construction successfully.     

Moral emotions: A review and research agenda for management scholarship

By discussing “families” of moral emotions, we synthesize and review the moral emotions literature in an effort to advance organizational scholarship. First, we broadly discuss “what constitutes a moral emotion?” Second, we critically examine each family of moral emotions. We discuss key controversies and debates, particularly in terms of construct overlap, and provide recommendations. Third, we review scholarly work on each family of moral emotions in the workplace and offer ideas for future research. Finally, in our general future directions, we discuss a range of theoretical perspectives that can be used to advance the moral emotions literature in the management field.     

Decision on oil and gas exploration in an Arctic area: Case study from the Norwegian Barents Sea

This paper addresses how risks to the environment in the Arctic are handled in decisions regarding the exploration for petroleum resources. An exploration well in the Norwegian Barents Sea is used as a case to demonstrate how environmental risks are assessed together with technical and economic considerations in the Oil Company’s decisions to enter into a new area and drill a well. The paper outlines environmental challenges in petroleum activities in the Arctic, the different roles of the Authorities and Oil Companies in decisions about petroleum activities, and the Oil Company’s tools and decision criteria used in addressing risks in the decision making.It is concluded that environmental and associated reputation risks are not a major issue at the strategic level in the Oil Company, since the most controversial areas in the Norwegian Arctic offshore have already been kept out of the exploration acreage by the authorities. Risks and uncertainties penetrate every aspect of the exploration of petroleum resources, and environmental risks are not unique in this sense. The Oil Company has established technical and economic tools and decision criteria to address them, and the mitigation of environmental risks becomes an element in the technical and economic analyses that affect detailed design and operational procedures. Mitigation measures such as the minimization of discharges to the sea (the so-called “zero-discharge” policy) and oil spill contingency planning are dimensioned to meet authority requirements and expectations rather than on strict risk acceptance considerations. A significant concern is to avoid delays in the permit granting process.     

The indirect relations of workplace incivility with emotional exhaustion and supportive behaviors via self‐blame: The moderating roles of observed incivility and trait emotional control

Drawing from the social cognitive theory of self‐regulation, we develop a model linking experienced incivility to emotional exhaustion and supportive behaviors via self‐blame, with observed incivility experienced by coworkers as a first‐stage moderator and trait emotional control as a second‐stage moderator. We contend that employees will experience self‐blame if they perceive themselves to be distinct targets of incivility (i.e., observed incivility experienced by others is low). Self‐blame can potentially trigger prosocial responses for improving the situation, but self‐blaming targets rarely respond in a prosocial manner because rational attempts to do so are thwarted by deleterious negative emotions accompanying self‐blame. We argue that trait emotional control provides resources for managing these negative emotions to unleash a bright side of self‐blame, such that the relation of self‐blame with prosocial responses (i.e., being supportive to coworkers) will be more positive and the relation of self‐blame with emotional exhaustion will be less positive for individuals with high (vs. low) trait emotional control. Multiwave data collected from a sample of 220 police officers largely support our hypotheses, indicating that the indirect relation of experienced incivility with supportive behaviors via self‐blame is strongest at lower levels of observed incivility and higher levels of emotional control.     

Modeling perceived collision risk in port water navigation

An increase in the likelihood of navigational collisions in port waters has put focus on the collision avoidance process in port traffic safety. The most widely used on-board collision-avoidance system is the automatic radar plotting aid which is a passive warning system that triggers an alert based on the pilot’s pre-defined indicators of distance and time proximities at the closest point of approaches in encounters with nearby vessels. To better help pilot in decision making in close quarter situations, collision risk should be considered as a continuous monotonic function of the proximities and risk perception should be considered probabilistically. This paper derives an ordered probit regression model to study perceived collision risks. To illustrate the procedure, the risks perceived by Singapore port pilots were obtained to calibrate the regression model. The results demonstrate that a framework based on the probabilistic risk assessment model can be used to give a better understanding of collision risk and to define a more appropriate level of evasive actions.     

POLSSS: surveying stakeholders about acceptability of risks and system changes

This paper describes two surveys that were carried out during the Policy for Sea Shipping Safety (POLSSS) project [Walker, 2000. POLSS: overview and cost-effectiveness analysis. Safety Science 35 (1–3, 105–121]. The first focused on the acceptability of risks. Its main goal was to find out how stakeholder groups accept different risks involved in maritime transport. The respondents were asked about their acceptance of the current risks and situations where the risks are either increased or decreased. The second survey examined the non-risk-related acceptability of different policy measures — both those being used currently, and those being considered in the POLSSS project for future implementation.     

For the sake of my family: Understanding unethical pro-family behavior in the workplace

Unethical behaviors are prevalent and costly in organizations, and much recent research attention has been paid to different forms of workplace unethical behaviors. We contend that the extant research has overlooked an important form of workplace-related unethical behaviors: unethical behaviors that are conducted to benefit one's family but which violate societal and organizational moral rules, a construct we label as “unethical pro-family behavior” (UPFB). Our paper systematically conceptualizes UPFB and develops a scale for it. Drawing upon social cognitive theory, we argue that employees with stronger family financial pressure are more likely to employ moral disengagement mechanisms to deactivate moral self-regulation, resulting in higher levels of UPFB. Additionally, we argue that the proposed relationship is more pronounced when employees have high family motivation but is mitigated when employees have high organizational identification. Two studies are conducted for this paper. In Study 1 (N = 328 for Sample 1; N = 243 for Sample 2; N = 279 for Sample 3; N = 267 for Sample 4), we demonstrate that our UPFB scale has good construct validity and that our construct is differentiable from relevant constructs. In two time-lagged survey samples in Study 2 (N = 255 for Sample 1; N = 233 for Sample 2), we find support for our hypotheses. Theoretical and practical implications, limitations, and future directions are discussed.     

民用飞行器重着陆事件决策系统研究

应用支持向量决策方法,解决飞行器重着陆事件诊断中受力分析复杂、样本量小的问题。探索飞行器接地阶段重着陆事件的形成机制,分别建立翼根载荷与起落架载荷的受力模型,研究飞机主体载荷与重着陆事件的非线性关系。研究重着陆决策所需样本集的小样本特性,提出支撑向量驱动的智能决策规则方法,进行重着陆事件诊断模型的建模研究。最后,建立重着陆事件决策系统。实例表明:该决策方法对于实例样本的诊断精度达到95.7%,对于提高着陆阶段的安全具有实际意义。     

高层官员地震应急演练中应急决策行为的质性分析

为了研究高层官员在非常规突发事件应对中的决策行为,通过地震应急演练,从决策建议的影响、决策对象的选择与优先级排序等方面对决策样本进行质性分析。应用NVivo12软件对某次高层官员参与的特大地震应急决策演练中采集的45份决策样本,在结构化处理的基础上确定编码标准,遍历样本并对应急决策编码,得到观测数据并进行分析。研究结果表明,演练中的高层官员决策行为有以下3方面特征:受决策建议影响明显;在灾情、舆情以及基础设施等方面有自主决策;不同层级间对决策权重排序存在显著差异。