Moment-to-moment opportunism


Decision makers seem to use optimal approaches but only look one period into the future. Other studies similarly confirm the inability of decision makers to look ahead more than one stage in negotiations. Managers also often undervalue opportunity costs when making investment decisions, undervalue the information value of price variation when setting prices in unfamiliar markets, and intuitive scheduling seems better characterized by moment-to-moment opportunism than holistic planning*. What about chess?

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Business Management: Moment-to-moment opportunism
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