Case study analyzes choice models and information roles in capital budgeting, highlighting their interrelations.
Four models of choice (bounded rationality, standard operating procedures, political, and artifactual) and three roles of information (instrumental, strategic, and symbolic) are used to structure observations and to analyze the data. The major findings are that more than one model of choice is necessary to describe the choice process, and similarly, more than one role of information is evident in the process. Discussion centers on the relations among choice models and roles of information.
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Hirst et al. (1993) studied this question.
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