This paper aims to managerial decision styles, following the General Decision-Making Style Inventory, as potential predictors of individual bias awareness and bias blind spots, with a focus on the rational decision style.
The research is based on a survey of 500 C-1 level managers within Forbes 2000 companies. It explores their decision styles and their assessments of their own and others’ decision behavior.
The results show that the awareness of one’s own susceptibility to biases and bias blind spots is highly dependent on an individual’s (self-declared) decision style and type of cognitive bias; decision-makers with a strong tendency toward a rational or spontaneous decision style see themselves as less vulnerable to cognitive biases but also show a much stronger bias blind spot than those with a tendency toward other decision styles. Meanwhile, decision-makers with a strong tendency toward an intuitive decision style tend to recognize their own vulnerability to cognitive biases and even show a negative blind spot, thus seeing themselves as more affected by cognitive biases than others.
To date, decision styles have not been used as a lens through which to view susceptibility to cognitive biases and bias blind spots in managerial decision-making. As demonstrated in this article, decision styles can serve as predictors of individual awareness and susceptibility to cognitive biases and bias blind spots for managers.
