comparing the VRIO-framework to the recognition heuristic
Powalla, Christian; Bresser, Rudi K. F.
Year of publication:
Decision-making heuristics are widely used in different economic and non-
economic contexts to yield a good solution with an acceptable problem-solving
effort. This paper presents the main features of an experimental research
project to analyze the effectiveness and efficiency of selected heuristic
techniques, which can be used to facilitate and improve the strategic
decision-making process. The resource-based view and modern, psychologically
inspired decision-making theory provides the theoretical basis for the study.