There is a critical need to better understand the nuances of decision making in today’s global business environment. The quality of decisions is importantly influenced by the personality traits and knowledge of the decision makers. We analyze the effect of those factors on confidence and quality of decisions taken in the context of supply chain management. Personality traits are defined through the Big Five personality traits model which has recently gained widespread reception. The data was gathered via an experiment in which a group of participants played an online supply chain simulation game where several decisions needed to be made during a span of one week. The results show that confidence in decision positively affects decision quality. Neuroticism and agreeableness negatively affect confidence in decision, while self-reported knowledge positively affects confidence in decision. Further work includes running more experiments in order to gain more data for verification of results and testing of additional hypotheses which could not be tested on the current data sample.
Erjavec, Jure; Zaheer Khan, Nadia; and Trkman, Peter, "THE IMPACT OF PERSONALITY TRAITS AND DOMAIN KNOWLEDGE ON DECISION MAKING – A BEHAVIORAL EXPERIMENT" (2016). Research-in-Progress Papers. 38.